Mr. Marshall Koval reports

LUMINA GOLD ANNOUNCES RECEIPT OF FIRST EARLY DEPOSIT PAYMENT OF US$12M FROM WHEATON PRECIOUS METALS

Lumina Gold Corp. has received the first $12-million (U.S.) payment under the previously announced precious metals purchase agreement with Wheaton Precious Metals International Ltd. in relation to its 100-per-cent-owned Cangrejos gold-copper project located in El Oro province, Ecuador.

The principal terms of the first early deposit payment and the gold stream are as described in the company's news release dated May 16, 2023, whereby Wheaton will pay a total of $300-million (U.S.) to acquire 6.6 per cent of the payable gold produced from the project until 700,000 ounces of gold have been delivered, and 4.4 per cent thereafter, with $48-million (U.S.) being paid as an early deposit preconstruction and $252-million (U.S.) being paid during construction.

The company also wishes to clarify information disclosed in its May 16, 2023, news release, to revise the original statement from "Wheaton will pay a production payment representing 18 per cent of the spot price of gold for the first 700,000 ounces and 22 per cent of the spot price of gold thereafter" to "Wheaton will make ongoing payments for the gold ounces delivered equal to 18 per cent of the spot price of gold until the uncredited deposit is reduced to nil and 22 per cent of the spot price of gold thereafter."

About Lumina Gold Corp.

Lumina Gold is a Vancouver-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 preliminary feasibility study (PFS) for Cangrejos, which is the largest primary gold deposit in Ecuador. Lumina has an experienced management team with a successful record of advancing and monetizing exploration projects.

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