TORONTO, ONTARIO, Oct. 8, 2009 (Marketwire) --

TORONTO, ONTARIO -- (Marketwire) -- 10/08/09 -- 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.