Mr. Ross Beaty, shareholder, reports

Pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Ross J. Beaty, of 1550 625 Howe St., Vancouver, B.C., V6C2T6, on Dec. 2, 2011, indirectly acquired control or direction over 354,000 common shares of Lumina Copper Corp. by way of a private purchase, made in reliance on the private agreement exemption set out in Section 4.2 of Multilateral Instrument 62-104 -- Take-Over Bids and Issuer Bids. The common shares purchased represent approximately 0.99 per cent of the total number of issued and outstanding common shares of Lumina Copper. The purchase was completed by Lumina Capital Limited Partnership, a limited partnership controlled by Mr. Beaty. The aggregate purchase price of the common shares purchased was $3,894,000 or $11.00 per common share. As a result of these transactions, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 10,053,225 common shares, representing approximately 26.68 per cent of the total number of issued and outstanding common shares of Lumina Copper.

In addition, Mr. Beaty holds, directly and indirectly, options to acquire an additional 280,000 common shares of Lumina Copper. If all such options were exercised, Mr. Beaty would exercise ownership and control, directly or indirectly, over a total of 10,333,225 common shares, which would represent approximately 27.42 per cent of the then-issued-and-outstanding common shares of Lumina Copper.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Lumina Copper for investment purposes.