Laurentian Goldfields Confirms Share Consolidation

Vancouver, British Columbia – November 22, 2012 – Laurentian Goldfields Ltd. (TSX-V: LGF) (“Laurentian” or the “Company”) announces that it has completed the consolidation of its common shares on the basis on one (1) “new” common share for ten (10) “old” common shares as approved by shareholders at Laurentian’s Annual General and Extraordinary Meeting held on November 19, 2012. Effective November 23, 2012, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the same stock symbol “LGF”.

Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded to the nearest whole number. The new CUSIP/ISIN numbers are 519259204/CA5192592049.

Following consolidation and subject to rounding, Laurentian will have issued and outstanding 6,191,189 common shares. All outstanding options and warrants of the Company will be adjusted accordingly to reflect the share consolidation.

About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled professionals focused on the identification, acquisition, and development of high quality exploration projects. A solid technical foundation, partnered with major mining companies through exploration alliances and joint venture agreements, provides significant exploration exposure for shareholders while minimizing shareholder dilution. Laurentian is committed to utilizing its extensive industry experience to identify and acquire exceptional exploration and development opportunities, unlocking value and shareholder growth.

ON BEHALF OF THE BOARD OF DIRECTORS,

“Darin Labrenz”
Darin Labrenz, 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.

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.

For further information, please contact:

Darin Labrenz
President and CEO
Tel: (604) 646-8000
Fax: (604) 646-8088
info@laurentiangoldfields.com

Marla Lede
Manager, Corporate Communications
Tel: (604) 697-2412
Fax: (604) 646-8088
mlede@laurentiangoldfields.com