Lumina Gold Announces Conversion of Ross Beaty Credit Facility to Common Shares

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) ("Lumina" or the "Company") is pleased to announce that it has appointed Ausenco Engineering Canada ULC ("Ausenco") to lead the Feasibility Study on its Cangrejos Gold-Copper Project ("Cangrejos" or the "Project") in southwest Ecuador . Lumina is expecting the Feasibility Study to be completed in H1 2025. Along with Ausenco, Lumina has appointed a full team of consultants to support the completion of the Feasibility Study. Key consultants and responsibilities are listed below in Table 1.

Table 1: Appointed Consultants

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") announces that it has engaged Integral Wealth Securities Limited ("Integral") to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Under the agreement, Integral will receive a fee of C$6,000 plus applicable taxes per month. The initial term of the agreement is three (3) months from the date of execution with an option to renew.

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador . In 2023, the Company completed a Pre-Feasibility Study for Cangrejos, which is the largest primary gold deposit in Ecuador . Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.

Highlights from 7,800 metre diamond hole (35-151 metres) Resource Conversion Drill Program:

• Hole C23-265: 2.47 g/t gold equivalent over 85 metres from surface to end of hole.
• Hole C23-302: 1.75 g/t gold equivalent over 113 metres from 2 metres to end of hole.
• Hole C23-317: 1.86 g/t gold equivalent over 96 metres from surface to end of hole.
• Highest gold assay ever on the project in hole C23-253, 2 metres from 40 to 42 metres grading 580 g/t Au.

Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce results from the 2023 Phase 1 mining resource conversion drilling campaign in support of the ongoing Feasibility Study ("FS") at its Cangrejos Project (the "Project") in Ecuador . Resource drilling comprised part of a larger drill campaign at the Cangrejos and Gran Bestia deposits which also included, metallurgical samples and geotechnical holes with subsequent hydrogeological testing in support of pit slope design. The 2023 drill program at the Project is summarized below in Table 1.

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") announces that it has granted incentive stock options and restricted share units ("RSU's") under the Company's Omnibus Equity Incentive Plan to certain directors, officers, employees and consultants of the Company. 5,635,000 stock options were granted and have an exercise price of $0.33 per share and will expire on December 18, 2028 . 5,510,000 of the options will vest in three equal parts over the first two years after grant and 125,000 options (the "First Globe Options") will vest in four equal parts over the first two years after grant. 3,500,000 RSUs were granted and will vest in equal parts over three years.

Recent Project Highlights:

• Completed 7,767 metres for the purpose of upgrading some of the Indicated Resource to the Measured category.
• Completed 3,065 metres of dedicated diamond drill holes for the collection of metallurgical samples and comminution testing samples.
• Samples have arrived in Peru , which allows for confirmatory and optimization metallurgical test work to begin.
• Additional samples have arrived at the material testing facility in the US for the comminution testing.
• Test work is on schedule and will support the proposed completion of the feasibility study in H1 2025.

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce the initiation of a major work program to support the development of the Cangrejos and Gran Bestia gold-copper deposits. The key components of the program include the collection of twenty metallurgical composite samples from dedicated drill holes within the Cangrejos and Gran Bestia deposits, comminution test work, detailed mineralogy and flotation test work for gold and copper recovery estimates and providing concentrate samples for marketing studies. Test work has been awarded to C. H. Plenge & CIA S.A. ("Plenge"), an independent metallurgical laboratory based in Lima, Peru which has previously provided metallurgical support to the Company and Metso USA .