Mr. Gordon Ellis reports

ARBITRATION CLAIM UPDATE

The Arbitration Tribunal has advised the parties that the tribunal has held deliberations on the case, and drafting of the ruling is well under way. However, work remains, given the very extensive arguments presented by both parties.

The tribunal is working with a view to completing its drafting (of its decision) by this summer, with the goal to release the ruling in the course of the second half of the year, bearing in mind also the time necessary to finalize the ruling in the two procedural languages. The tribunal will provide a more concrete report of the anticipated timing of the ruling as soon as practicable.

Gordon Ellis (chief executive officer of Lupaka Gold Corp.) commented: "It has been over five years since a neighbouring community illegally blocked access to and caused the termination of the company's (former) Invicta mining operation. It has been over four years since the company initiated its arbitration action against the Republic of Peru. The fact that we now have a definitive time frame for the resolution of this dispute is a very positive step. To date, nothing has come to our or our advisers' attention that would suggest that the validity or efficacy of our arbitration claim has changed."

For continuing updates and more detail with respect to the arbitration, please refer to the company's website.

For background on the basis for the company's arbitration claim, please refer to the company's previous news releases, also available on the company's website.

Lupaka has been/is represented in the arbitration proceedings by the international law firm Lalive and Boies Schiller Flexner, and has the financial backing of Bench Walk Advisors.

About Lupaka Gold Corp.

Lupaka is an active Canadian-based company focused on creating shareholder value through identification and development of mining assets.