Laurentian Goldfields Signs $1,500,000 Strategic Exploration Alliance Agreement With Antofagasta Minerals

Laurentian Goldfields Ltd. (TSX VENTURE:LGF) ("Laurentian") is pleased to
announce it has signed a US$1,500,000, two year strategic exploration alliance
(the "Alliance") with Antofagasta Minerals S.A., a wholly owned subsidiary of
Antofagasta plc ("Antofagasta") for generative copper exploration in southern
Quebec, Canada. The Alliance will utilize Laurentian's extensive technical and
exploration expertise as a project generator to identify copper properties for
acquisition in specific target areas of Quebec. Exploration work will be guided
through the establishment of a joint Technical Committee with Laurentian acting
as Operator. 


"We are very excited to partner with Antofagasta and begin exploration work in
Quebec," states Darin Labrenz, P.Geo., President and CEO of Laurentian.
"Antofagasta is one of the world's largest copper producers, with a proven track
record of exploration and development of copper deposits around the world. The
Alliance is a solid endorsement of Laurentian's exploration team and technical
expertise, and will expose Laurentian shareholders to numerous discovery and
development opportunities in Quebec." 


Copper exploration and/or development opportunities acquired by the Alliance
will become Designated Properties, and will have a deemed interest of 51% and
49% for Antofagasta and Laurentian respectively. Antofagasta can increase its
interest in any Designated Property to 65% by completing US$5,000,000 in
exploration over four years and thereafter electing to form a Joint Venture with
a one-time cash payment of US$1,000,000 to Laurentian. 


In the event that Antofagasta declines to exercise its option to earn 65% in a
Designated Property, the interest will remain at 51% and 49% for Antofagasta and
Laurentian respectively, with Laurentian maintaining control and management of
the project.


The strategic exploration alliance is focused primarily on copper. If a property
is declined as a Designated Property, Laurentian is free to advance that
property on its own terms outside of the Alliance, with no further obligation to
Antofagasta.


About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled 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 through the identification and acquisition of new
exploration opportunities and the advancement and growth of its current
portfolio of projects. 


About Antofagasta Minerals S.A.:

"Antofagasta Minerals S.A. is the mining division of Antofagasta plc, a company
listed on the London Stock Exchange and a constituent of the FTSE-100 Index,
with interests also in transport and water distribution. Currently,
Antofagasta's activities are primarily concentrated in Chile where it owns and
operates four copper mines: Los Pelambres, Esperanza, El Tesoro and Michilla.
Total production in 2011 was 640,500 tonnes of copper, 9,900 tonnes of
molybdenum and 196,800 ounces of gold. Antofagasta also has exploration,
evaluation and/or feasibility programs in North America, Latin America, Europe,
Asia, Australia and Africa."


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.