GMR

Laurion Mineral Exploration Inc. (TSX VENTURE:LME) ("Laurion") is pleased to
announce that it has entered into an exploration and option agreement (the
"Agreement") among Globex Mining Enterprises Inc. (TSX
VENTURE:GMX)(FRANKFURT:G1M) ("Globex") of Rouyn-Noranda, Quebec and Globex
Nevada Inc., (a wholly owned subsidiary of Globex) in which Laurion's wholly
owned subsidiary, Laurion Mineral Exploration USA LLC ("Laurion Subsidiary") has
received the option to acquire a 100% interest in the Bell Mountain Gold Project
located in Churchill County, Nevada subject to the terms described below.


Highlights of Bell Mountain



--  The Bell Mountain Gold Project (the "Property") is contained entirely
    within the Fairview Peak caldera; its inter-caldera setting is a very
    favored environment for gold deposits in the region. 
    
--  Gold mineralization within the Property occurs as electrum (Au, Ag) and
    Acanthite (Ag S). 
    
--  The mineralization forms an epithermal, low-sulfidation, volcanic-
    hosted, caldera-related deposit located in the prolific Walker Lane
    structural province of Nevada, which is the host to many major gold
    producing districts such as the Comstock, Round Mountain, Paradise Peak,
    Bullfrog, Tonopah, Goldfield, Rawhide and several others. 
    
--  Previously permitted for production in 1992 by N.A. Degerstrom Inc.
    ("Degerstrom"). 
    
--  A study of abundant drilling data and underground workings from the
    Property suggests that the resource calculated by Degerstrom in 1991, is
    open to significant expansion and could be increased considerably, both
    laterally and at greater depth. The deposit is drill tested to a maximum
    depth of 75m with an average depth of 45m and is open along strike. 
    
--  Additional attractive targets have been identified on the Property with
    little exploration outside the known resource. 
    



Bell Mountain Project

The Property is a near-term gold/silver production property located in the
southeastern part of Churchill County in west-central Nevada (USA). The Property
is located approximately 82 road kilometers southeast of Fallon and 102 air
kilometers southeast of Reno, Nevada. The Property includes the original 26
Globex claims covering an area of approximately 217 ha and 119 recently staked
lode mining claims, increasing the land package to 995 ha.


The Property was originally developed and permitted in 1992 by Degerstrom and
consists of three defined bodies of gold/silver mineralization named the Spurr,
Varga, and Sphinx. Degerstrom reported a gold/silver resource on the Property
(the "Degerstrom Report") which was estimated at 2.1 million tonnes grading 1.33
grams/tonne gold and 37.55 grams/tonne silver. Falling metals prices made the
development of the Property uneconomic at that time and the project was shelved.
Although the Degerstrom Report was completed by credible professionals, it was
written prior to the enactment of NI 43-101 statute, thus a "Qualified Person"
must complete sufficient additional work to reclassify this historical estimate
as a current mineral resource and the historical estimate should therefore not
be relied upon.


Prior to entering into the Agreement, Laurion, with the assistance of local a
group of very experienced mining and geologic professionals (the "BM Group") in
the State of Nevada, completed extensive due diligence of all available
documentation pertaining to the Property. Now that the Agreement has been
signed, Laurion, through its Laurion U.S. Subsidiary, plans to begin a drilling
program to develop the resource both laterally and deeper. The BM Group will
also be retained to complete the necessary work to verify and expand the
resource to provide a current resource estimate prior to making a production
decision.


Terms of the Definitive Agreement

Pursuant to the terms of the Agreement, Laurion has an option to earn an
undivided 100% interest in the Property by making cash and share payments and
incurring exploration expenditures (collectively, the "expenditure commitments")
over a 60 month period from the proposed closing date (the "Closing Date") as
follows:




a.  On the Closing Date, Laurion would be required to make a cash payment of
    $10,000 and issue 1,700,000 common shares of Laurion to Globex; 
    
b.  On or before the first anniversary of the Closing Date, Laurion shall be
    required to make a cash payment of $15,000, issue, 1,000,000 of its
    common shares to Globex and incur $250,000 in exploration expenditures
    on the Property; 
    
c.  On or before the second anniversary of the Closing Date, Laurion shall
    be required to make a cash payment of $15,000, issue 1,000,000 of its
    common shares to Globex and incur $250,000 in additional exploration
    expenditures on the Property; 
    
d.  On or before the third anniversary of the Closing Date, Laurion shall be
    required to have incurred an additional $500,000 in exploration
    expenditures on the Property; and 
    
e.  On or before the fifth anniversary of the Closing Date, Laurion shall be
    required to incur an additional $2,000,000 exploration expenditures on
    the Property. 
    



On closing of the above transaction, a water well license with water capacity of
200 gallons per minute will be transferred to Laurion to be used for the
development of the Property. On completion of the above expenditure commitments,
the title of the Property will be transferred to Laurion Subsidiary.


The Property is subject to two royalties which will take effect upon
commencement of commercial production. The first royalty is held by Degerstrom
which retains a 2% net smelter return royalty which can be acquired for
US$167,000. In addition, pursuant to the Agreement, Globex will maintain a
sliding-scale Gross Metal Royalty ("GMR") on all mineral production (gold,
silver, etc.) benchmarked upon the price of gold (1% GMR at a gold price under
US$500/troy oz, 2% GMR at a gold price between US$500 and US$1200/troy oz and 3%
GMR at a gold price over US$1200/troy oz).


Laurion may terminate the Agreement at any time.

The technical information contained in this news release has been verified by
Dana Durgin (MSc, P.Geo), who is a Qualified Person as defined in "National
Instrument 43-101, Standards of Disclosure for Mineral Properties."


About Laurion Mineral Exploration Inc.

Laurion is an exploration company with key interests in prospective mining
properties located in Ontario and Nevada USA. Laurion's primary exploration
focus is the identification of gold deposits; its exploration horizon also
encompasses base metals and PGM's.


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. Laurion and its
management assume no obligation to revise or update these forward-looking
statements.

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