Mr. Marshall Koval reports

LUMINA GOLD COMPLETES METALLURGICAL AND RESOURCE DRILLING AND COMMENCES FEASIBILITY STUDY METALLURGICAL TESTING

Lumina Gold Corp. has initiated a major work program to support the development of the Cangrejos and Gran Bestia gold-copper deposits. The key components of the program include the collection of 20 metallurgical composite samples from dedicated drill holes within the Cangrejos and Gran Bestia deposits, comminution test work, detailed mineralogy and flotation test work for gold and copper recovery estimates, and providing concentrate samples for marketing studies. Test work has been awarded to C.H. Plenge & CIA SA (Plenge), an independent metallurgical laboratory based in Lima, Peru, which has previously provided metallurgical support to the company and Metso USA.

In past metallurgical test work programs, the Cangrejos and Gran Bestia deposits demonstrated good metallurgical performance using traditional flotation processes to produce a gold-rich flotation copper concentrate that should be saleable into the copper smelting market. This coming program will allow some optimization of process parameters and provide significant engineering data supporting process design criteria for the feasibility study.

The company has now completed the drilling of 3,065 metres across 14 dedicated diamond drill holes for the collection of metallurgical samples and comminution testing samples. Lumina has also completed the drilling of 7,767 metres across 91 drill holes for the purpose of potentially upgrading some of the indicated mineral resource containing 16.8 million ounces gold and 2.2 billion pounds of copper to the measured mineral resource category. A total of 6,842 metres of the 8,375 metres of planned geotechnical drilling are complete and the balance is expected to conclude before the holiday break in December.

Qualified persons

Jeffrey B. Austin, PEng, is a qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Austin has previously visited Plenge's laboratory in Lima, Peru, and has reviewed, verified and approved the content of this news release.

Leo Hathaway, PGeo, senior vice-president of Lumina and a qualified person as defined by NI 43-101, has reviewed, verified and approved the contents of this news release.

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 prefeasibility study 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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