Mr. David Strang reports

LUMINA COPPER ANNOUNCES CLOSING OF C$30 MILLION FINANCING

Lumina Copper Corp. has closed both of its previously announced brokered and non-brokered private placements of common shares totalling gross proceeds of $30-million. The company issued a total of three million common shares at a price of $10 per common share. The brokered private placement was completed pursuant to an agreement with Raymond James Ltd. and a syndicate of underwriters, including Scotia Capital Inc., Canaccord Genuity Corp. and Laurentian Bank Securities Inc. The underwriters received a commission of 5 per cent of the gross sales of the 1.5 million common shares that were the subject of the brokered private placement.

A 5-per-cent finder's fee was payable on a portion of the non-brokered private placement, but no finder's fee was payable in respect of the 1,002,500 common shares purchased by Lumina Capital LP as part of the non-brokered placement.

The net proceeds from the placements will be used to finance the continuing exploration program at the company's Taca Taca project and for general corporate purposes.

The Taca Taca copper/gold/molybdenum project, comprising approximately 2,500 hectares, is located in the Puna region of northwestern Argentina in Salta province, approximately 230 kilometres west of the provincial capital of Salta and 90 kilometres east of the world's largest copper mine, Escondida.

On Nov. 15, 2011, the company announced that it had received an independent updated, interim NI 43-101-compliant mineral resource estimate for the project that at a 0.4-per-cent copper-equivalent cut-off contained indicated sulphide resources of 516 million tonnes grading 0.58 per cent copper, 0.12 gram per tonne gold and 0.018 per cent molybdenum (0.76 per cent copper-equivalent), containing 6.6 billion pounds of copper, 2.1 million ounces of gold and 204.6 million pounds of molybdenum, and inferred sulphide resources of 880 million tonnes grading 0.43 per cent copper, 0.09 g/t gold and 0.015 per cent molybdenum (0.57 per cent copper-equivalent), containing 8.3 billion pounds of copper, 2.3 million ounces of gold and 292.9 million pounds of molybdenum. In addition, an oxide gold resource has been defined within the leached cap that at a 0.2 g/t gold cut-off contains inferred resources of 190 million tonnes grading 0.25 g/t gold, containing 1.5 million ounces of gold.

Copper-equivalent calculated using $2.00 (U.S.) per pound Cu, $800 (U.S.) per ounce Au and $12.00 (U.S.) per pound Mo, and is not adjusted for metallurgical recoveries as these remain uncertain. The formula used is as follows: Cu-eq equals Cu per cent plus (Au g/t times 0.583) plus (Mo per cent times six).

An updated NI 43-101 technical report detailing the mineral resource estimate will be filed on SEDAR and the company's website by the end of December, 2011. Additional information on Taca Taca, including the current NI 43-101 technical report, "Amended Taca Taca Technical Report," dated Jan. 22, 2010, by Robert Sim, PGeo, can be found on the company's website and on SEDAR.

We seek Safe Harbor.