January 24, 2011- Vancouver, BC - Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian", or, the "Company") today announced that it has engaged Humbercrest Capital Inc. (or "Humbercrest") of Toronto to provide investor relations services for the Company.
Humbercrest Capital Inc provides strategic counsel to small and medium cap companies, primarily in the resource sector. The President of Humbercrest Capital is Michael Joyner, an experienced finance and communications executive with an extensive corporate development and investor relations background. Effective January 24, 2011, Humbercrest will provide investor relation services for Laurentian Goldfields at the base rate of $5,000 per month plus expenses, for a 12 month period.
Humbercrest's primary focus will be to design and implement an investor relations campaign to introduce Laurentian Goldfields Ltd. to a wider audience within the North American investment community of investment advisors, sell side analysts and institutional investors.
The Company has granted 150,000 stock options, vesting on a quarterly basis, to Mr. Joyner. Each option exercisable at a price of $0.40 with an expiry date of January 24, 2016.
Issuance of stock options
The Company's board of directors has approved, subject to regulatory approval, the issuance of a total of 1, 850,000 stock options to certain employees and insiders of the company. Each option will be exercisable to purchase one common share of the company at a price of $0.40 per share and will expire five years after the date of issuance.
About Laurentian Goldfields Ltd.
Laurentian Goldfield Ltd. is a team of highly skilled exploration professionals focused on gold discovery in Canada. Laurentian Goldfields currently operates several active exploration projects in Ontario and Quebec. Drilling at the Goldpines North Joint venture with Kinross Gold Corporation is scheduled to commence later this month.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., 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:
Andrew Brown, President and CEO
Tel: (604) 646-8000
Fax: (604) 642-8088