Mr. Gordon Ellis reports

ARBITRATION CLAIM UPDATE

Lupaka Gold Corp. has received an update from the Arbitral Tribunal regarding the company's continuing arbitration claim against the Republic of Peru.

In the update, the tribunal advised that work on the ruling has continued since the last update, and completion of the English text is nearing the final stage. Considering the time necessary to finalize the ruling for dispatch in the two procedural languages, the tribunal currently estimates that it will be in a position to dispatch its ruling to the parties in the course of the first quarter of 2025.

Gordon Ellis (chief executive officer) commented: "Although the amount of time that the arbitration process has taken so far seems protracted, our legal counsel assures us that it is not abnormal. Considering that it has now been five years since the initiation of the arbitration, another couple of months for receipt of the final ruling is a relatively short time frame to await the tribunal's ruling."

Lupaka 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 a Canadian-based company focused on creating shareholder value through the identification and development of mining assets