Laurentian Goldfields Announces $1.25 Million Non-Brokered Private Placement

Laurentian Goldfields Ltd. (TSX VENTURE:LGF) ("Laurentian" or the "Company")
announces that the it intends to complete a non-brokered private placement
financing for proceeds of up to $1.25 million by the issuance of 9.17 million
non-flow through units ("NFT Units") at a price of $0.06 per NFT Unit and 8.75
million flow through units ("FT units") at a price of $0.08 per FT Unit.


Each NFT Unit will consist of one common share and one-half of one common share
purchase warrant. Each whole warrant will entitle the holder to purchase one
additional non-flow-through common share at a price of $0.12 per share within 12
months after the date of issuance. 


Each FT Unit will consist of one flow-through common share and one-half of one
common share purchase warrant. Each whole warrant will entitle the holder to
purchase one additional non-flow-through common share at a price of $0.15 per
share within 12 months after the date of issuance. 


Laurentian intends to use the proceeds of this financing for drilling and other
exploration work at the Van Horne gold property (see news release dated March
29, 2012), advancing targets on the Kinross-Laurentian Goldpines North Joint
Venture, and general working capital purposes. 


Finder's fees may be payable in connection with this private placement. The
private placement is subject to certain conditions, including regulatory
acceptance, and all securities issued will be subject to a four-month hold
period from the date of issuance. 


About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled and proven exploration professionals
focused on the acquisition, exploration and development of high quality gold
properties in Canada. The Company advances its prospective projects through the
use of its internal technical team, extensive network of exploration industry
specialists and by engaging the financial support of major mining companies
through exploration alliances and joint venture agreements. Laurentian is
committed to increasing shareholder value by exploring and advancing properties
that have the potential to host world class gold deposits. 


ON BEHALF OF THE BOARD OF DIRECTORS,

Darin Labrenz, P.Geo., President and CEO

Some statements in this news release contain forward-looking information. These
statements include, but are not limited to, statements with respect to mineral
potential and planned exploration, development and production activities. These
statements address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the statements.
Such factors include, among others, realized mineralization of properties and
the timing and success of future exploration, development and production
activities.