Mr. Marshall Koval reports

LUMINA GOLD ANNOUNCES RESULTS FROM 19,000 METRE DRILL PROGRAM AT CANGREJOS; INCLUDING 85 METRES GRADING 2.42 G/T GOLD EQUIVALENT FROM SURFACE AND OPEN TO DEPTH

Lumina Gold Corp. has released results from the 2023 phase 1 mining resource conversion drilling campaign in support of the continuing feasibility study (FS) at its Cangrejos project in Ecuador. Resource drilling comprised part of a larger drill campaign at the Cangrejos and Gran Bestia deposits which also included, metallurgical samples and geotechnical holes with subsequent hydrogeological testing in support of pit slope design. The 2023 drill program at the Project is summarized below in Table 1.

Highlights from 7,800 metre diamond hole (35-151 metres) Resource Conversion Drill Program:

Hole C23-265: 2.47 g/t gold equivalent over 85 metres from surface to end of hole.

Hole C23-302: 1.75 g/t gold equivalent over 113 metres from 2 metres to end of hole.

Hole C23-317: 1.86 g/t gold equivalent over 96 metres from surface to end of hole.

Highest gold assay ever on the project in hole C23-253, 2 metres from 40 to 42 metres grading 580 g/t Au.

Marshall Koval, CEO and Director commented: "The completion of this drilling supports several key programs of the Feasibility Study. Work on the revised resource estimate, pit slope design metallurgical testing including High-Pressure Grinding Roll testing are now all underway. The assays from the resource infill program continue to demonstrate the exceptional continuity of grade at Cangrejos and are in line with expectations from previous drilling and studies."

Cangrejos Drill-Hole Results

Highlights of the 2023 Project resource conversion program are provided in Table 2, and the corresponding intercepts are highlighted in Figures 1 and 2. A complete listing of results from the 2023 Project resource conversion program is provided in Annex 1.

Lumina Gold received the highest drill assay ever returned from the project in hole C23-253, where a 2-metre intercept from 40 to 42 metres graded 580 g/t Au, see Figure 1.

Lumina is operating normally at the Project. The Company's activities have not been affected by the recent civil disturbances that have impacted other areas in Ecuador.

Quality Assurance

All Lumina sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program that includes the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Lumina's secure facility located at the Project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS Labs' ("ALS") sample preparation facilities in Quito, Ecuador. Sample pulps are sent to ALS' chemical labs in Lima, Peru for analysis. Gold content is determined by fire assay of a 30-gram charge with total copper content determined by four-acid digestion with ICP finish. The lab is independent from Lumina.

Lumina is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

Leo Hathaway, P.Geo., Senior Vice President of Lumina and the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the Project has reviewed, verified, and approved the contents of this news release and has verified the data underlying the contents of this news release by review and supervision of, but not limited to, drilling procedures, chain of custody of core and samples, logging and sampling procedures and insertion of blind standards, blanks and pulp duplicates into the sample stream and running of check samples with an umpire laboratory; such that no limitations are known that would prohibit it being suitable for resource estimation.

About Lumina Gold

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada 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 Pre-Feasibility Study for Cangrejos, which is the largest primary gold deposit in Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.

We seek Safe Harbor.