LUMINA GOLD CORP - LMGDF STOCK NEWS

Lumina Gold Corp. (OTCQX: LMGDF) has announced an unsecured credit facility of C$10 million with its largest shareholder, Ross Beaty, to finance drilling costs and a Pre-feasibility Study for the Cangrejos project in Ecuador. The facility carries an interest rate of 10% and matures by July 2023 or upon raising C$15 million in equity financing. The company plans to issue 3 million bonus warrants to Beaty, with a C$0.38 exercise price. The ongoing drilling campaign has completed substantial work with more planned, aiming for a Q2 2023 update.

Lumina Gold Corp. has announced significant results from its drilling program at the Cangrejos project in Ecuador, highlighting hole C22-187 at Gran Bestia, which reported 0.82 g/t gold equivalent over 336 metres from surface. This includes impressive intervals of 1.12 g/t over 60 metres and 1.68 g/t over 12 metres, extending the higher-grade breccia area. Additionally, Lumina is increasing its drill program by 4,000 to 6,750 metres to further define resources and enhance the strip ratio. To date, 83 holes totaling 27,000 metres have been drilled, showing promising mineralization across the project.

Lumina Gold Corp. (LMGDF) announced significant drilling results from its Cangrejos project in Ecuador. Hole C22-179 recorded the highest grade gold intercept in the project's history, with 10 meters grading 19.33 g/t gold. Additional exploration at Gran Bestia revealed a 280.6m intercept from surface grading 0.84 g/t gold. The drilling program included 66 completed holes and ongoing resource delineation. The results suggest potential for increased mineralization, particularly as the program expands into previously unmodelled areas.

Lumina Gold Corp. announced positive results from its Cangrejos project in Ecuador, showcasing significant drill hole findings. Hole C22-167 revealed 1.17 g/t gold equivalent over 134 metres from surface, extending a higher-grade breccia area. Hole C22-160 indicated mineralization extended laterally 180 metres outside the PEA pit. These findings suggest the potential for increased mineral resources and a reconfiguration of the Gran Bestia pit, enhancing future economic studies. Currently, 36 drill holes have been completed with ongoing drilling expected to refine understanding of the mineralization.

Lumina Gold Corp. announced promising drill results from its Cangrejos project in Ecuador, highlighting notable grades of gold equivalent. Hole C22-151 reported 1.11 g/t gold equivalent over 260 metres, while C22-156 showed 1.55 g/t over 184 metres, including a peak of 1.98 g/t over 126 metres. The drilling campaign has completed 27 holes and is ongoing, with six drill rigs operational. These results indicate strong mineralization continuity, extending beyond previous economic assessments, enhancing the project’s attractiveness.

Lumina Gold Corp. (TSXV: LUM, OTCQX: LMGDF) reported promising results from its initial drill holes of the 2021-2022 program at the Cangrejos deposit. The first two holes, totaling 1,227 meters, indicated continuous gold mineralization. Notable findings include hole C19-148, which showed 266 meters of 0.69 g/t gold and 0.10% copper, and hole C19-149, featuring 240 meters of 0.58 g/t gold and 0.21% copper. As of January 31, 2022, a total of 4,803 meters had been drilled, primarily at Cangrejos.

Lumina Gold Corp. (OTCQX: LMGDF) has appointed Ausenco Engineering Canada Inc. to lead the Cangrejos Pre-feasibility Study (PFS) after a competitive bidding process. Ausenco, familiar with the project from its previous work on the 2020 Preliminary Economic Assessment (PEA), will also author the NI 43-101 technical report. The PFS will focus on optimizing several project aspects, including metallurgical test work and processing circuits. Drilling continues at Cangrejos, with approximately 4,700 meters drilled. Completion of the PFS is expected in early 2023.

Lumina Gold Corp. (OTCQX: LMGDF) announced the addition of two drill rigs to its Cangrejos project, expanding its previously planned 30,000-metre drilling program to six rigs. This initiative aims to convert Inferred mineral resources into Measured or Indicated categories for a pre-feasibility study. As of now, 2,700 metres have been drilled, with two additional rigs focusing on the Gran Bestia deposit. Recent findings suggest potential high-grade areas within the mineral resource, further supporting Lumina's step-out drilling strategy.

Lumina Gold Corp. (OTCQX: LMGDF) has signed a significant Exploration Investment Protection Agreement (EIPA) with the Ecuadorian government for its Cangrejos project. This agreement ensures a minimum investment of US$36M for 2019-2024 and secures regulatory stability for Lumina's investments in Ecuador. The Company has already invested approximately US$18M since 2019 and plans to advance the project towards a Pre-Feasibility study by early 2023. The EIPA includes protections against arbitrary government actions and establishes a clear dispute resolution process.