Lumina Gold Announces Results from 19,000 metre Drill Program at Cangrejos; Including 85 metres Grading 2.42 g/t Gold Equivalent from Surface and Open to Depth

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.

Marshall Koval , CEO and Director commented: "The completion of this drilling supports several key programs of the Feasibility Study. Work on the revised resource estimate, pit slope design metallurgical testing including High-Pressure Grinding Roll testing are now all underway. The assays from the resource infill program continue to demonstrate the exceptional continuity of grade at Cangrejos and are in line with expectations from previous drilling and studies."

Table 1: 2023 Drill Program Summary

	Resource Conversion	Pit Slope Geotechnical	Metallurgical Twin Holes	Hydrogeological Pump Testing	Totals
Cangrejos
Total # of holes	91	10	9	6	116
Total metreage	7,786	3,729	1,668	215	13,399
Shallowest hole (m)	35	180	56	27
Deepest Hole (m)	151	600	290	69
Gran Bestia
Total # of holes	n/a	10	7	n/a	17
Total metreage	n/a	4,142	1,397	n/a	5,539
Shallowest hole (m)	n/a	150	100	n/a
Deepest Hole (m)	n/a	663	265	n/a
Overall
Total # of holes	91	20	16	6	133
Total metreage	7,786	7,871	3,065	215	18,938

Cangrejos Drill-Hole Results

Highlights of the 2023 Project resource conversion program are provided in Table 2, and the corresponding intercepts are highlighted in Figures 1 and 2. A complete listing of results from the 2023 Project resource conversion program is provided in Annex 1.

Table 2: Highlighted Drill Results

Hole Number	From (m)	To (m)	Interval (m)	Au Grade (g/t)	Cu Grade (%)	Au Eq. (g/t)	Total Depth (m)	Comments
C23-252	6.0	45.0	39.0	2.50	0.31	2.94	45	Open to depth
C23-253	4.0	54.0	50.0	23.48	0.09	23.64	85	Incl. 2m grading 580g/t Au - uncut
or	4.0	54.0	50.0	3.08	0.09	3.24	85	2m grading 580g/t Au cut to 70g/t
C23-265	0.0	85.0	85.0	2.09	0.24	2.47	85	Open to depth
C23-269	0.0	115.0	115.0	1.02	0.24	1.37	115	Open to depth
C23-270	0.0	70.0	70.0	1.14	0.13	1.38	70	Open to depth
C23-275	0.0	91.0	91.0	1.76	0.13	1.97	91	Incl. 2m grading 16.4g/t Au - uncut
C23-302	2.0	115.0	113.0	1.50	0.16	1.75	115	Open to depth
C23-306	0.0	70.1	70.1	1.12	0.12	1.31	70.1	Open to depth
C23-312	0.0	76.0	76.0	1.40	0.17	1.65	76	Open to depth
C23-316	0.0	76.0	76.0	1.24	0.19	1.52	76	Open to depth
C23-317	0.0	96.0	96.0	1.48	0.27	1.86	96	Open to depth

Note: Minor contributors to Au Eq. calculation, silver and molybdenum are not included in this table but are provided in Annex 1. Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of ten continuous metres. A 70g/t Au top cut was applied for the interval noted in the comments section. Sampling is done in consistent, continuous 2-metre intervals. Values assume 100% recovery of all quoted metals and the following prices were used to calculate Au Eq.: a gold price of US$1,500 per ounce, a copper price of US$3.00 per pound, a molybdenum price of US$7.00 per pound and a silver price of US$18.00 per ounce.

Lumina Gold received the highest drill assay ever returned from the project in hole C23-253, where a 2-metre intercept from 40 to 42 metres graded 580 g/t Au, see Figure 1.

Lumina is operating normally at the Project. The Company's activities have not been affected by the recent civil disturbances that have impacted other areas in Ecuador .

Quality Assurance

All Lumina sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program that includes the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Lumina's secure facility located at the Project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS Labs' ("ALS") sample preparation facilities in Quito, Ecuador . Sample pulps are sent to ALS' chemical labs in Lima, Peru for analysis. Gold content is determined by fire assay of a 30-gram charge with total copper content determined by four-acid digestion with ICP finish. The lab is independent from Lumina.

Lumina is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

Leo Hathaway , P.Geo., Senior Vice President of Lumina and the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the Project has reviewed, verified, and approved the contents of this news release and has verified the data underlying the contents of this news release by review and supervision of, but not limited to, drilling procedures, chain of custody of core and samples, logging and sampling procedures and insertion of blind standards, blanks and pulp duplicates into the sample stream and running of check samples with an umpire laboratory; such that no limitations are known that would prohibit it being suitable for resource estimation.

About Lumina Gold

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.

Follow us on: Twitter , Linkedin or Facebook .

Further details are available on the Company's website at https://luminagold.com/ . To receive future news releases please sign up at https://luminagold.com/contact .

Lumina Gold Corp.

Signed: "Marshall Koval"
Marshall Koval , President & CEO, Director

Neither the 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 news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to potentially converting mineral resources to mineral reserves and future work programs and work on the FS. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Annex. 1: Drill result table – Complete 2023 Cangrejos Infill Resource Conversion Program Results. Intervals provided in Table 2. are shown in bold.

Hole Number	From (m)	To (m)	Interval (m)	Au Grade (g/t)	Cu Grade (%)	Ag Grade (g/t)	Mo Grade (ppm)	Au Eq. (g/t)	Total Depth (m)	Comments
C23-242	0.0	86.0	86.0	0.37	0.09	1.19	2	0.51	140.0	330 ° /-65 °
and	98.0	100.0	2.0	0.26	0.05	0.25	2	0.33
and	112.0	136.0	24.0	0.31	0.05	0.29	8	0.38
C23-243	0.0	2.0	2.0	0.37	0.01	21.00	1	0.64	85.2
and	10.0	14.0	4.0	0.31	0.03	9.75	1	0.46
and	52.0	70.0	18.0	0.25	0.09	0.72	1	0.38
C23-244	0.0	88.0	88.0	0.54	0.07	1.53	6	0.66	130.9	150 ° /-65 °
and	118.0	128.0	10.0	0.26	0.02	0.46	15	0.30
C23-245	4.0	18.0	14.0	0.33	0.06	12.59	2	0.55	45.1
and	30.0	45.1	15.1	0.25	0.15	1.23	2	0.47		Open to depth
C23-246	0.0	2.0	2.0	0.33	0.03	22.50	3	0.64	85.3
and	12.0	30.0	18.0	0.43	0.04	25.34	5	0.79
and	52.0	84.0	32.0	0.44	0.02	0.29	11	0.48
C23-247	14.0	16.0	2.0	0.95	0.04	1.30	1	1.03	75.4
and	26.0	58.0	32.0	0.27	0.12	1.97	5	0.46
C23-248	2.0	30.0	28.0	0.31	0.09	5.88	5	0.51	50.0
and	42.0	50.0	8.0	0.58	0.15	1.40	8	0.81		Open to depth
C23-249	0.0	35.1	35.1	0.47	0.17	3.10	9	0.75	35.1	Open to depth
C23-250	16.0	18.0	2.0	0.74	0.04	2.90	1	0.83	100.4
and	46.0	92.0	46.0	0.29	0.14	2.01	10	0.50
C23-251	0.0	86.0	86.0	0.44	0.05	2.14	6	0.53	90.1
C23-252	6.0	45.1	39.1	2.50	0.31	3.83	11	2.94	45.1	Open to depth
C23-253	4.0	54.0	50.0	3.08	0.09	2.46	4	3.24	85.2	2m sample grading 580g/t Au cut to 70g/t Au
or	4.0	54.0	50.0	23.48	0.09	2.46	3	23.64	85.2	2m sample grading 580g/t Au - uncut
and	70.0	76.0	6.0	0.75	0.05	1.30	4	0.96
C23-254	0.0	100.1	100.1	0.68	0.05	1.90	18	0.78	100.1	Open to depth
C23-255	0.0	45.2	45.2	1.46	0.37	1.75	1	1.98	45.2	Open to depth
C23-256	16.0	48.0	32.0	0.42	0.09	8.49	8	0.64	76.0
and	64.0	66.0	2.0	1.68	0.06	0.25	6	1.76
C23-257	8.0	14.0	6.0	0.39	0.09	6.23	13	0.59	55.2
C23-258	0.0	48.0	48.0	1.09	0.06	4.81	8	1.22	85.4	Open to depth
and	62.0	85.4	23.4	0.69	0.04	0.33	37	0.77
C23-259	16.0	54.0	38.0	0.22	0.15	1.19	3	0.44	65.0
C23-260	0.0	2.0	2.0	0.37	0.05	0.25	2	0.44	75.3
and	8.0	10.0	2.0	0.33	0.01	0.50	1	0.35
and	52.0	62.0	10.0	0.23	0.05	0.30	24	0.32
C23-261	0.0	65.1	65.1	1.13	0.12	1.55	30	1.40	65.1	Open to depth
C23-262	8.0	10.0	2.0	0.57	0.07	1.20	2	0.67	75.3	330 ° /-85 ° Open to depth
and	26.0	75.3	49.3	0.24	0.09	0.42	15	0.37
C23-263	2.0	8.0	6.0	0.88	0.23	6.47	3	1.28	91.3	Open to depth
and	22.0	26.0	4.0	0.23	0.04	0.53	1	0.30
and	36.0	40.0	4.0	0.33	0.13	0.25	4	0.51
and	52.0	91.3	39.3	0.67	0.20	0.58	8	0.95
C23-264	12.0	24.0	12.0	0.34	0.10	0.79	7	0.49	90.2
and	82.0	84.0	2.0	0.26	0.12	0.70	70	0.45
C23-265	0.0	85.3	85.3	2.09	0.24	1.44	78	2.47	85.3	Open to depth
C23-266	0.0	115.1	115.1	0.83	0.18	0.57	10	1.09	115.1	Open to depth
C23-267	0.0	65.7	65.7	1.09	0.14	2.09	24	1.31	65.7	Open to depth
C23-268	2.0	22.0	20.0	0.25	0.14	0.86	1	0.46	55.1	150 ° /-50 °
and	46.0	54.0	8.0	0.24	0.08	0.61	3	0.35
C23-269	0.0	115.0	115.0	1.02	0.24	0.67	46	1.37	115.0	330 ° /-60 ° Open to depth
C23-270	0.0	70.0	70.0	1.14	0.13	4.70	40	1.38	70.0	Open to depth
C23-271	2.0	100.2	98.2	0.60	0.16	4.74	8	0.88	100.2	Open to depth
C23-272	0.0	100.0	100.0	0.87	0.14	0.63	19	1.07	100.0	150 ° /-50 ° Open to depth
C23-273	0.0	75.2	75.2	0.88	0.19	2.10	3	1.17	75.2	330 ° /-60 ° Open to depth
C23-274	0.0	65.5	65.5	0.57	0.09	0.68	15	0.72	65.5	150 ° /-75 ° Open to depth
C23-275	0.0	90.8	90.8	1.76	0.13	2.15	23	1.97	90.8	150 ° /-75 ° 2m sample grading
C23-276	14.0	22.0	8.0	0.37	0.11	3.55	2	0.56	95.1
and	52.0	54.0	2.0	0.34	0.13	2.50	6	0.55
and	64.0	66.0	2.0	0.25	0.11	0.60	2	0.41
and	88.0	90.0	2.0	0.25	0.02	0.25	7	0.27
C23-277	0.0	2.0	2.0	0.32	0.04	0.25	2	0.37	105.9	330 ° /-70 ° Open to depth
and	10.0	12.0	2.0	0.24	0.08	2.30	1	0.37
and	32.0	34.0	2.0	0.21	0.06	0.60	2	0.31
and	36.0	38.0	2.0	0.27	0.05	2.30	2	0.37
and	86.0	105.9	19.9	0.40	0.07	0.75	4	0.51		Open to depth
C23-278	0.0	80.0	80.0	0.58	0.15	0.55	10	0.79	80.0	Open to depth
C23-279	0.0	71.4	71.4	0.53	0.14	0.40	10	0.73	71.4	Open to depth
C23-280	0.0	65.4	65.4	0.51	0.12	2.98	17	0.72	65.4	Open to depth
C23-281	10.0	28.0	18.0	0.88	0.16	1.63	1	1.11	110.1	Open to depth
and	44.0	46.0	2.0	0.23	0.07	0.25	2	0.33
and	48.0	50.0	2.0	0.21	0.09	0.25	1	0.34
and	60.0	64.0	4.0	0.42	0.09	1.20	4	0.56
and	80.0	110.1	30.1	0.43	0.13	0.53	24	0.63
C23-282	4.0	6.0	2.0	0.22	0.08	0.60	3	0.34	81.2	330 ° /-65 °
and	16.0	18.0	2.0	0.27	0.04	0.25	8	0.33
and	26.0	72.0	46.0	0.71	0.04	0.31	7	0.77
C23-283	24.0	36.0	12.0	0.31	0.10	1.03	4	0.46	79.2	150 ° /-70 °
and	52.0	74.0	22.0	0.57	0.08	0.74	6	0.69
C23-284	4.0	84.0	80.0	0.63	0.11	0.67	40	0.80	100.2	330 ° /-70 ° Open to depth
and	96.0	100.2	4.2	0.64	0.12	0.25	120	0.84
C23-285	0.0	84.0	84.0	0.58	0.20	2.17	12	0.88	85.0
C23-286	0.0	90.8	90.8	0.39	0.12	1.23	7	0.58	90.8	330 ° /-50 ° Open to depth
C23-286A	6.0	88.0	82.0	0.37	0.13	1.20	7	0.56	150.5	330 ° /-50 ° Open to depth
and	106.0	122.0	16.0	0.26	0.08	0.76	4	0.39
and	142.0	150.5	8.5	0.60	0.10	0.91	2	0.74
C23-287	0.0	46.0	46.0	0.54	0.08	0.35	9	0.65	50.3
C23-288	0.0	65.2	65.2	0.67	0.08	0.47	40	0.80	65.2	330 ° /-60 ° Open to depth
C23-289	0.0	46.0	46.0	1.35	0.32	2.58	5	1.82	100.1	Open to depth
and	64.0	100.2	36.2	1.29	0.45	2.45	13	1.95
C23-290	0.0	62.0	62.0	0.92	0.05	1.01	6	1.00	65.5
C23-291	0.0	80.0	80.0	0.65	0.07	2.23	23	0.77	100.2
C23-292	0.0	65.4	65.4	0.88	0.12	0.34	108	1.09	65.4	Open to depth
C23-293	0.0	62.0	62.0	0.36	0.12	1.18	4	0.54	75.1
C23-294	10.0	34.0	24.0	0.23	0.16	0.75	4	0.46	140.7
and	42.0	44.0	2.0	0.21	0.06	0.25	2	0.30
and	58.0	72.0	14.0	0.55	0.04	0.25	10	0.60
and	86.0	116.0	30.0	0.23	0.04	0.38	2	0.29
and	132.0	136.0	4.0	0.27	0.05	0.85	2	0.35
C23-295	0.0	60.9	60.9	0.84	0.12	2.49	23	1.03	60.9	Open to depth
C23-296	2.0	50.0	48.0	0.31	0.14	1.67	3	0.53	55.2
C23-297	0.0	80.6	80.6	0.74	0.11	0.85	46	0.91	80.6	Open to depth
C23-298	0.0	70.3	70.3	0.87	0.07	1.42	25	0.99	70.3	Open to depth
C23-299	6.0	16.0	10.0	0.50	0.06	2.50	1	0.62	35.2
and	28.0	30.0	2.0	0.46	0.03	0.25	6	0.50
C23-300	6.0	95.3	89.3	0.42	0.08	0.44	24	0.54	95.3	Open to depth
C23-301	16.0	20.0	4.0	0.56	0.18	1.75	10	0.83	105.3	Open to depth
and	36.0	38.0	2.0	0.35	0.07	0.70	1	0.46
and	50.0	52.0	2.0	0.59	0.06	0.70	1	0.68
and	70.0	72.0	2.0	0.31	0.03	0.90	2	0.35
and	84.0	105.3	21.3	0.91	0.08	0.51	2	1.03
C23-302	2.0	115.1	113.1	1.50	0.16	1.48	44	1.75	115.1	330 ° /-45 ° Open to depth
C23-303	0.0	50.2	50.2	1.22	0.08	2.02	19	1.36	50.2	Open to depth
C23-304	2.0	8.0	6.0	0.32	0.04	2.00	3	0.40	65.1	330 ° /-60 ° Open to depth
and	28.0	30.0	2.0	0.25	0.10	0.60	7	0.39
and	64.0	65.1	1.1	0.43	0.02	0.25	1	0.47
C23-305	24.0	66.0	42.0	0.26	0.05	0.52	7	0.33	105.2	Open to depth
and	92.0	105.2	13.2	0.32	0.06	0.42	12	0.40
C23-306	0.0	70.1	70.1	1.12	0.12	0.55	48	1.31	70.1	Open to depth
C23-307	4.0	100.4	96.4	0.32	0.10	0.32	8	0.47	100.4	Open to depth
C23-308	0.0	78.0	78.0	0.82	0.08	2.44	6	0.96	80.5
C23-309	0.0	85.4	85.4	0.84	0.16	1.45	17	1.08	85.4	Open to depth
C23-310	8.0	22.0	14.0	0.24	0.06	2.50	4	0.35	101.1	Open to depth
and	42.0	44.0	2.0	1.35	0.06	0.60	1	1.44
and	56.0	58.0	2.0	0.65	0.08	0.60	5	0.77
and	84.0	86.0	2.0	0.25	0.07	0.25	7	0.35
and	98.0	101.1	3.1	1.15	0.15	0.77	11	1.37
C23-311	2.0	70.3	68.3	0.71	0.04	0.26	26	0.78	70.3	Open to depth
C23-312	0.0	75.8	75.8	1.40	0.17	0.71	24	1.65	75.8	330 ° /-60 ° Open to depth
C23-313	0.0	92.0	92.0	0.41	0.10	0.38	12	0.55	115.6
and	106.0	108.0	2.0	0.22	0.03	0.25	5	0.27
C23-314	16.0	24.0	8.0	0.42	0.10	1.73	4	0.58	145.9	150 ° /-85 ° Open to depth
and	38.0	52.0	14.0	0.40	0.06	0.49	5	0.48
and	88.0	145.9	57.9	0.40	0.13	0.53	9	0.59
C23-315	0.0	115.5	115.5	0.32	0.12	0.48	4	0.49	115.5	Open to depth
C23-316	0.0	75.7	75.7	1.24	0.19	0.82	31	1.52	75.7	Open to depth
C23-317	0.0	95.7	95.7	1.48	0.27	0.50	56	1.86	95.7	Open to depth
C23-318	0.0	46.0	46.0	0.64	0.14	1.75	4	0.85	115.4	330 ° /-55 °
and	60.0	114.0	54.0	0.37	0.10	0.63	5	0.52
C23-319	0.0	122.0	122.0	0.50	0.15	0.54	13	0.72	125.9	330 ° /-60 °
C23-320	0.0	78.0	78.0	0.54	0.20	0.43	23	0.82	86.2	330 ° /-45 °
C23-321	0.0	36.0	36.0	0.53	0.17	1.06	2	0.78	105.0	Open to depth
and	48.0	105.0	57.0	0.97	0.34	0.99	13	1.44
C23-322	0.0	100.4	100.4	0.67	0.20	0.58	15	0.95	100.4	Open to depth
C23-323	2.0	95.7	93.7	0.27	0.11	1.70	16	0.45	95.7	Open to depth
C23-324	4.0	95.7	91.7	0.54	0.16	0.39	13	0.78	95.7	330 ° /-55 ° Open to depth
C23-325	0.0	98.0	98.0	0.35	0.08	0.78	15	0.48	141.2	330 ° /-70 ° Open to depth
and	112.0	141.2	29.2	1.36	0.15	3.84	9	1.61
C23-326	0.0	75.1	75.1	0.90	0.31	0.70	19	1.34	75.1	Open to depth
C23-327	26.0	30.0	4.0	2.65	0.03	1.00	2	2.71	106.0	225 ° /-65 °
and	40.0	84.0	44.0	0.33	0.14	0.91	8	0.53
and	98.0	106.0	8.0	0.57	0.09	1.44	13	0.72
C23-328	0.0	8.00	8.0	0.27	0.05	2.28	3	0.37	60.6
and	52.0	60.0	8.0	0.36	0.04	0.25	5	0.41
C23-329	2.0	75.2	73.2	0.35	0.11	0.32	11	0.51	75.2	Open to depth
C23-330	6.0	71.3	65.3	0.81	0.32	1.49	6	1.27	71.3	330 ° /-55 ° Open to depth
C23-331	0.0	55.2	55.2	0.29	0.13	0.38	5	0.48	55.2	Open to depth

Note: All holes drilled at 0 ° azimuth and -90 ° dip unless otherwise stated in the comments. Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of ten continuous metres. A top-cut of 70 g/t Au was applied to one sample as noted in comments. Sampling is done in consistent, continuous 2-metre intervals. Values assume 100% recovery of all quoted metals and the following prices were used: a gold price of US$1,500 per ounce, a copper price of US$3.00 per pound, a molybdenum price of US$7.00 per pound and a silver price of US$18.00 per ounce.

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SOURCE Lumina Gold Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2024/18/c4798.html

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LUM:CC

Lumina Gold Announces US$10.2 million Wheaton Precious Metals Draw and Amendment to the PMPA

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce that under the previously announced US$300 million precious metals purchase agreement (the "PMPA") with Wheaton Precious Metals International Ltd., a wholly owned subsidiary of Wheaton Precious Metals Corp. ("Wheaton"), the Company has drawn an additional installment of US$10.2 million . The draw consisted of two tranches, US$9 million which was due twelve months after the initial draw in May 2023 and US$1.2 million related to specific pre-construction acquisition transactions.

The PMPA has been amended to modify the US$15 million that was due in May 2024 to US$9 million payable immediately and the remaining US$6 million payable on December 2, 2024 . This amendment was made because Lumina has not yet finalized terms for the exploitation contract with the Government of Ecuador , which was a condition for the US$15 million being received. The December 2, 2024 payment is conditional on the finalization of the exploitation contract term sheet between Lumina and the Government of Ecuador .

About Lumina Gold

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.

Follow us on: Twitter , Linkedin or Facebook .

Further details are available on the Company's website at https://luminagold.com/ . To receive future news releases please sign up at https://luminagold.com/contact .

Lumina Gold Corp.

Signed: "Marshall Koval"

Marshall Koval , President & CEO, Director

Neither the 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 news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the Company's ability to finalize the exploitation contract terms with the Government of Ecuador before December 2, 2024 . Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about: the Company's ability to meet its obligations under the PMPA; general business and economic conditions; the prices of gold and copper; and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

View original content to download multimedia: https://www.prnewswire.com/news-releases/lumina-gold-announces-us10-2-million-wheaton-precious-metals-draw-and-amendment-to-the-pmpa-302160826.html

SOURCE Lumina Gold Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/31/c5772.html

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Lumina Gold Engages a Market Maker

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.

About Lumina Gold

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.

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Lumina Gold Announces Issuance of Annual Equity Incentive Grant

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.

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Bold Ventures to Present at Metals Investor Forum in Vancouver on May 9, 2025

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that the Company will be presenting at Metals Investor Forum (MIF) on May 9 at The Rosewood Hotel, 801 W Georgia St, Vancouver, BC. The Company's President and COO, Bruce MacLachlan, and the Company's V.P. Exploration, Coleman Robertson, will be present during the conference.

John Kaiser, author of Kaiser Research Online, will be introducing Coleman Robertson at 4:50 p.m. Local Time, who will provide an overview and update on the Company's assets and plans for the upcoming field season. Please see the link to the May 9 Metals Investor Forum web page.

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OUTCROP SILVER ANNOUNCES PARTNER FUNDED MAIDEN DRILL PROGRAM AT THE PEARL COPPER PROJECT, ARIZONA

Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG) ("Outcrop Silver") is pleased to announce the commencement of the maiden drill program at the Pearl Copper Project located in Arizona United States . The drilling campaign will be fully funded by Golden Mile Resources Limited (ASX: G88), whereby Golden Mile is currently earning a 51% interest through funding this A$2 million maiden drill program. Outcrop Silver retained a 1% net smelter return (NSR) royalty.

Highlights

Outcrop Silver advances the Pearl Copper project through an earn-in agreement with Golden Mile Resources (ASX:G88). Program fully funded by Golden Mile .
The Pearl project is located in the prolific Laramide porphyry copper district, which is responsible for 70% of the United States of America's copper production.
All drilling permits secured from the Bureau of Land Management (BLM) and the Arizona State Land Department (ASLD).
The maiden drill program to test high-grade copper-silver-gold targets at the Odyssey and Ford prospects has commenced.

" Golden Mile's fully funded drill program moves Pearl forward at no cost to Outcrop Silver and exemplifies our strategy of unlocking value from non-core assets while we focus capital on expanding the high-grade Santa Ana silver project in Colombia ," stated Ian Harris , President & CEO of Outcrop Silver.

The Pearl Copper project is located in the Laramide porphyry copper district, one of the most prolific copper-producing regions globally, accounting for approximately 70% of U.S. copper production. The project sits immediately north of BHP's past-producing San Manuel-Kalamazoo Mine and along the trend with Capstone Copper's active Pinto Valley Mine, benefiting from exceptional infrastructure and a skilled local workforce.

Following the receipt of all required exploration permits, including the Notice of Intent (NOI) from the BLM and the Special Land Use Permit (SLUP) and Geologic Field Operation Plan (GFOP) from the ASLD, drilling has commenced. This maiden drill program consists of 14 to 16 reverse circulation (RC) holes totaling up to 1,800 metres, and will test two priority targets.

Transaction

On September 12, 2024 Golden Mile purchased an option on Pearl for A$100,000 (Australian Dollars) with Outcrop Silver retaining a 1% NSR royalty. Golden Mile has the option to earn-in to 51% by funding A$2,000,000 in exploration expenditures by September 12, 2027 . Golden Mile may also earn an additional 34% by funding an additional A$10,000,000 in exploration expenditures within 5 years. Upon completing the earn-in a joint venture will be formed with both parties funding proportionally. If either party dilutes below 10%, their interest will convert to an additional 1% NSR royalty. At such time that a JORC compliant resource achieves 750,000 tonnes of contained copper at a minimum grade of 0.3%, Golden Mile will pay Outcrop Silver A$2,000,000 .

The Pearl Copper project was acquired through the amalgamation with Zacapa Resources. Zacapa's portfolio also included the Kramer Hills brownfield oxide gold project in San Bernardino, California and the South Bullfrog, gold project in Beatty, Nevada adjacent to Anglo Gold's Silicon project.

Qualified Person

Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia . Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.

About Golden Mile

Golden Mile is a project development and mineral exploration company. The primary focus is on growing the Company with a multi-asset and multi-commodity strategy through advancing core projects, acquiring high-quality assets, and tactical alliances with joint venture partners.

ON BEHALF OF THE BOARD OF DIRECTORS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.

SOURCE Outcrop Silver & Gold Corporation

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Consultant	Responsibility
Ausenco Engineering Canada ULC	Lead author, including process and infrastructure engineering
SIM Geological Inc.	Resource estimation
Laboratorio C.H. Plenge & Cia. S.A.	Metallurgical testing
International Metallurgical and Environmental Inc.	Metallurgical Qualified Person
Independent Mining Consultants Inc.	Mineral reserves, mine design and mining costs
MTB Enterprises Inc.	Project manager
RM Enterprises	Economic model
Wyllie & Norrish Rock Engineers Inc.	Mine geotechnical
Global Resource Engineering	Ground water & hydrology
BARR Engineering Company	Ground water & hydrology
Social Capital Group	Social and community

"Bruce A MacLachlan"	"David B Graham"
Bruce MacLachlan	David Graham
President and COO	CEO

Direct line: (705) 266-0847

Email: bruce@boldventuresinc.com

Investing News NetworkYour trusted source for investing success

Lumina Gold Announces Results from 19,000 metre Drill Program at Cangrejos; Including 85 metres Grading 2.42 g/t Gold Equivalent from Surface and Open to Depth

Lumina Gold Announces US$10.2 million Wheaton Precious Metals Draw and Amendment to the PMPA

Lumina Gold Corp. Presents in Red Cloud's Virtual Webinar Series

Lumina Gold Appoints Feasibility Study Consultants

Lumina Gold Engages a Market Maker

Lumina Gold Announces Issuance of Annual Equity Incentive Grant

AUG to Secure Licence Application for Mt Kare Gold Project

Entitlement Offer Prospectus

Non-renounceable Pro-Rata Entitlement Offer

Bold Ventures to Present at Metals Investor Forum in Vancouver on May 9, 2025

OUTCROP SILVER ANNOUNCES PARTNER FUNDED MAIDEN DRILL PROGRAM AT THE PEARL COPPER PROJECT, ARIZONA

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