LOUNOR CLOSES A PRIVATE PLACEMENT AND HIRES A NEW INVESTOR RELATIONS FIRM

Listing (TSXV = LO Frankfurt = LE2A)

ROUYN-NORANDA, QC, Sept. 28 /CNW Telbec/ - LOUNOR EXPLORATION INC. is pleased to announce the closing of a private placement for a total amount of CDN $339,000.

    
    Private Placement
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The placement consists in 4,237,500 common shares at a price of $0.08 per share representing a total amount of $339,000. Each share is accompanied of one half (1/2) of a share purchase warrant. One whole warrant allows to subscribe for one common share of the Company at a price of $0.11 per share, expiring September 28, 2012.

The securities that will be issued at the closing of this private placement will be subject to a hold period of four months and one day from closing. This placement is subject to the approval of the regulatory authorities.

    
    Investor Relations Firm
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Lounor Exploration inc. also announces today that the firm Relations Publiques Paradox Inc. ("Paradox") of Montreal, an independent public relations firm, has been selected to provide investor relations to the Company.

Commencing immediately, Paradox will provide investor relations for an initial period of twelve months ending September 1st, 2011. Paradox will be paid a monthly fee of $6,500 plus allowable disbursements. Additionally, Paradox will receive incentive stock options, subject regulatory approvals, in the amount of 800,000 shares at an exercise price of $0.12 per share, valid for a period of twelve months.

    
    Grant of Options
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Lounor also announces that the Company has granted 600,000 new stock options to directors, officers and consultants of the Company, which can be exercised at a price of $0.12 per share expiring on September 28, 2012.

    
    About Lounor Exploration
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Lounor Exploration Inc. is a Canadian-based natural resources company with mineral holdings in Ontario and Quebec and is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold, 450,000,000 tonnes of base metal ore over the last 100 years. The Company is headquartered in Quebec.

LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture (TSXV-LO) and on the Frankfurt Exchange (LE2A).

This press release was prepared by Lounor Exploration Inc. 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.

This document may contain forward-looking statements relating to Lounor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Lounor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Lounor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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For further information: M. Gilles Fiset, President, Telephone : [phone], Fax : [phone], Email : [email protected], Web site : www.lounor.com; Investor Relations : Carl Desjardins, Relations Publiques Paradox inc., Telephone : [phone] ou 514-341-0408; Léo Patry, investor relations, Telephone: [phone] ou 514-951-0250