Vedron Gold Inc.

Vedron Gold Inc.
Laurion Gold Inc.

February 17, 2005 12:00 ET

Laurion and Vedron Finalize the Amended Option Agreement on the Davidson-Tisdale and Laurion Claims in the Tisdale Township, Ontario


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VEDRON GOLD INC.

TSX VENTURE SYMBOL: VG

AND LAURION GOLD INC.

TSX VENTURE SYMBOL: LAG

FEBRUARY 17, 2005 - 12:00 ET

Laurion and Vedron Finalize the Amended Option
Agreement on the Davidson-Tisdale and Laurion Claims
in the Tisdale Township, Ontario

TORONTO, ONTARIO--(CCNMatthews - Feb. 17, 2005) - Laurion Gold Inc.
(TSXV:LAG) ("Laurion") and Vedron Gold Inc. (TSX-V:VG) ("Vedron")
announced today that they have finalized the amended and restated option
agreement (the "Amended Agreement") which was originally announced on
December 15, 2004. The Amended Agreement, which remains subject to the
approval of the TSX Venture Exchange, amends the original option
agreement between Laurion and Vedron dated March 14, 2003 (the "Original
Agreement") pertaining to the exploration property owned by Laurion near
Timmins, Ontario (the "Property").

Pursuant to the Amended Agreement, Laurion granted to Vedron the right
to earn up to a 60% interest in six of the claims comprising the
Property (the "Davidson-Tisdale Claims") by fulfilling the expenditure
commitments of the Original Agreement by March 14, 2008; the remaining
19 claims comprising the Property (the "Laurion Claims") are to be held
100% by Laurion. The Original Agreement provided that Vedron could earn
up to a 50% interest in all of the claims comprising the Property. The
Amended Agreement, however, increases Vedron's potential interest, but
reduces the number of claims in which Vedron can earn such interest. The
exploration program undertaken on the Property by Vedron has focused and
will continue to focus on the Davidson-Tisdale Claims and, as a result
of the Amended Agreement, Laurion will have an opportunity to commence
an exploration program on the Laurion Claims.

The Amended Agreement also provides that, by paying $1,575,000 to
Laurion over a three year period, Vedron can earn up to an additional
15% interest in the Davidson-Tisdale Claims over and above the 60%
interest mentioned above. In addition, by paying this amount to Laurion
and meeting its expenditure obligations under the Original Agreement,
Vedron will earn a back-in right to acquire a 50% interest in up to
three exploration properties owned, optioned or acquired by Laurion,
including the Laurion Claims. Vedron will be able to exercise its
back-in right to acquire a 50% interest in the Laurion Claims by paying
60% of Laurion's expenditures to date on such property. In addition,
Vedron will be able to exercise its back-in right to acquire a 50%
interest in such other properties by payment to Laurion of the greater
of (i) 200% of the exploration expenditures incurred by Laurion on such
property and (ii) $35 per ounce of gold times the maximum number of
ounces of gold calculated as a mineral resource on such property.

In addition, the Amended Option Agreement provides that Laurion will
have a similar back-in right to acquire a 50% interest in certain early
stage exploration properties optioned or acquired by Vedron, but
excludes Vedron's four development properties, exercisable upon payment
to Vedron of the greater of (i) 200% of the exploration expenditures
incurred by Vedron on such property and (ii) $35 per ounce of gold times
the maximum number of ounces of gold calculated as a mineral resource on
such property. Laurion and Vedron will form a joint venture agreement
upon Vedron obtaining a 60% interest in the Davidson-Tisdale Claims,
provided that Vedron may accelerate the formation of a joint venture
upon Vedron achieving a 50% interest in such claims by paying a penalty
to Laurion. Laurion and Vedron will also form a joint venture on any
property in which both parties acquire an interest by virtue of the
exercise of their back-in rights.

Laurion and Vedron will be joint exhibitors at the forthcoming
Prospectors and Developers Association of Canada International
Convention, Trade Show and Investors Exchange (the "PDAC Convention") to
be held March 6 to March 9, 2005 in Toronto, Ontario. Laurion and Vedron
will be in booth 5003, Room 203, on Tuesday, March 8, 2005 and
Wednesday, March 9, 2005.

Laurion also announced in a press release dated February 15, 2005 that
it has agreed to enter into an option agreement with Hornby Bay
Exploration Limited ("Hornby Bay") pursuant to which Hornby Bay will
grant to Laurion an option to acquire a 50% interest in its East Clavos
gold project (the "East Clavos Property") in consideration for certain
exploration expenditure commitments undertaken by Laurion. The East
Clavos Property, which comprises 20 mining claim units and is
approximately 324 hectares in area, is located in the Stock Township of
the prolific Porcupine Mining District approximately 45 kilometers east
northeast of Timmins, Ontario.
Laurion Gold Inc. is a gold exploration company with resource properties
located in the North East part of Tisdale Township, approximately 12 km
north east of Timmins, Ontario.

Vedron Gold Inc is a mining exploration and development company with
advanced exploration gold properties in Timmins, Ontario, Canada. Vedron
is actively exploring four developed Timmins gold properties namely the
Fuller, the Davidson Tisdale, the Maude Ramp and the Buffalo Ankerite
Property with the focus of bringing these properties into production.

To find out more about Vedron Gold Inc. (TSX-V: VG), visit our website
at www.vedron.com.

LAURION GOLD INC.

Issued and Outstanding 33,701,350 Common Shares

VEDRON GOLD INC.

Issued and Outstanding 43,308,947 Common Shares

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Laurion Gold Inc.
    Cynthia Le Sueur-Aquin
    President
    1-705-788-9186
    1-705-788-9186 (FAX)
    www.lauriongold.com
    or
    Vedron Gold Inc.
    Tom Meredith
    President
    416-369-0099
    416-368-1539 (FAX)
    www.vedron.com
    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein and does not accept responsibility for the
    adequacy or accuracy of this release.