Lumina Gold Corp. announced results from the 2023 Phase 1 mining resource conversion drilling campaign in support of the ongoing Feasibility Study ("FS") at its Cangrejos Project (the "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.

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. 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.