Back To Latest NewsLaurentian Goldfields Closes $532,400 Non-Brokered Private Placement January 09, 2013

Vancouver, British Columbia - January 9, 2013 - Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of 2,662,000 Units priced at $0.20 per Unit, for aggregate gross proceeds of $532,400.

Each "Unit" consists of one common share and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share of the Company for up to 24 months at a price of $0.30 per share expiring January 7, 2015. All securities issued under this financing are subject to a four month hold period and may not be traded until May 8, 2013. The Warrants are subject to an accelerated expiry date, which comes into effect when the trading price of Laurentian's common shares closes at or above $0.50 per share for twenty consecutive trading days in the period commencing four months after January 7, 2013. In such an event Laurentian will give an expiry acceleration notice ("Notice") to Warrant holders and the expiry date of the Warrants will be 30 days from the date of Notice.

The offering was subscribed to by a number of private investors, including insiders of the Company. The Company paid a finder's fee of $3,500 and issued 17,500 Finder's Warrants to a finder. Each "Finder's Warrant" is exercisable to purchase one common share of Laurentian for up to 24 months after the date of issuance at a price of $0.30 per share expiring January 7, 2015.

Proceeds from this financing will be used to support ongoing exploration programs and strategic objectives including project evaluations, due diligence towards possible acquisitions and for general working capital.

About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled professionals focused on the identification, acquisition, and development of high quality exploration projects. A solid technical foundation, partnered with major mining companies through exploration alliances and joint venture agreements, provides significant exploration exposure for shareholders while minimizing shareholder dilution. Laurentian is committed to utilizing its extensive industry experience to identify and acquire exceptional exploration and development opportunities, unlocking value and shareholder growth.

ON BEHALF OF THE BOARD OF DIRECTORS,

"Darin Labrenz"
Darin Labrenz, P.Geo.
President and CEO

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.

For further information, please contact:

Darin Labrenz
President and CEO
Tel: (604) 646-8000
Fax: (604) 646-8088
info@laurentiangoldfields.com

Marla Lede
Manager, Corporate Communications
Tel: (604) 697-2412
Fax: (604) 646-8088
mlede@laurentiangoldfields.com