Laurion Mineral Exploration Inc. Announces LOI With San Gold Corporation

TORONTO, ONTARIO, Oct 08 (MARKET WIRE) --
Laurion Mineral Exploration Inc. ("Laurion") (TSX VENTURE: LME) and San
Gold Corporation ("San Gold") (TSX VENTURE: SGR) are pleased to announce
the signing of a Letter of Intent ("LOI") with respect to the purchase of
Laurion's property interests in the Tisdale Township (collectively the
"Tisdale Properties"), which is composed of Laurion's 31.5% interest in
the Davidson-Tisdale property and Laurion's 100% interest in the North
Tisdale property.

The LOI confirms San Gold's intension to acquire Laurion's Tisdale
Properties in consideration for CAD$1,000,000 and 1,000,000 common shares
of San Gold (collectively the "Purchase Price"). The Corporation will
retain a 2% NSR on the North Tisdale Claims. A formal agreement will be
entered into between Laurion and San Gold upon completion of standard due
diligence, expected to take approximately 60 days. The completion of the
proposed acquisition by San Gold is conditional upon both Laurion and San
Gold receiving all necessary regulatory and corporate approvals.

Laurion's continuing vision is to realize shareholder value and wealth
through monetization of its projects and potential discoveries through
partnerships with significant players with ready capital and production
expertise. San Gold is a strong partner in all these respects and a
significant gold producer. As a San Gold shareholder, Laurion would
become a stakeholder in one of Manitoba's largest gold producers. San
Gold's shareholders have been rewarded with progressive share
appreciation as the company has advanced the development of the high
grade low-cost Hinge deposit.

The gold price trend is, and has been, steadily moving upwards. The
250-day moving average price of gold has defined the long term trend and,
following one consolidation after another, new highs have been the order
of the day. The markets remain bullish for gold, and so have been
rewarding low-cost gold producers.

As a potential stakeholder in San Gold (the production company), Laurion
(the exploration company) will be better positioned to generate greater
shareholder value by directing its exploration expertise towards
near-term production gold mining properties, versus grass roots
properties. Although Laurion's primary exploration focus will be the
identification of gold deposits, its exploration horizon will also
encompass base metals and PGEs. Laurion is actively pursuing and
assessing viable prospective projects.

About Laurion Mineral Exploration Inc.

Laurion is an exploration specialist company with key interests in highly
prospective properties in Ontario as follows:

a. a 100% interest in 35 patented gold mineral claims located in the
Geraldton-Beardmore Gold Camp, 120 km northeast of Thunder Bay;

b. a 100% interest in 55 unpatented base metal mining claims (589 units) in
Fortune, Enid-Massey, Cote and Turnbull Townships (9,542 hectares) all
located in Ontario;

c. 100% interest in 4 unpatented base metal mining claims (52 units) in
Clary Township located 50 km west of the town of Temagami and 105km
north west of North Bay, Ontario; and,

d. five groups of base metal claims located within Ontario known as (i) the
Midlothian project and (ii) the Raymond project, each located in the
Gowganda Area, (iii) the Fox Mountain property, (iv) the Graydon Lake
property and (v) the Dorothea project all located in the Nipigon Area
(collectively the "Alliance Projects"). The Alliance Projects are owned
51% by Laurion and 49% by Kiska Metals Corporation.

Laurion recently completed two diamond drill holes on the Midlothian
project to test two conductor targets revealed through a geophysical
re-interpretation of the VTEM data from the heliborne survey conducted in
spring 2008.

To receive Company press releases, please email jeanny@chfir.com and
mention "Laurion News" on the subject line.

This news release includes certain forward-looking statements concerning
the future performance of Laurion's business, operations and financial
performance and condition, as well as management's objectives,
strategies, beliefs and intentions. Forward-looking statements are
frequently identified by such words as "may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar words referring to future
events and results. Forward-looking statements are based on the current
opinions and expectations of management. All forward-looking information
is inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices, competitive
risks and the availability of financing, as described in more detail in
our recent securities filings available at www.sedar.com. Actual events
or results may differ materially from those projected in the
forward-looking statements and Laurion cautions against placing undue
reliance thereon. Neither Laurion nor its management assumes any
obligation to revise or update these forward-looking statements.

Laurion - Issued and Outstanding Common Shares - 66,043,683

"Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."

Contacts:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin
President
1-705-788-9186
1-705-788-9187 (FAX)
www.laurion.ca

CHF Investor Relations
Jeanny So
Director of Operations
(416) 868-1079 x 225
jeanny@chfir.com
www.chfir.com

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