Lumina Gold Corp - LMGDF STOCK NEWS

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.

Lumina Gold Corp. held its annual general meeting on November 23, 2021, where shareholders approved several key matters including the election of directors and the appointment of auditors. A significant outcome was the approval of Ross Beaty as a new control person, enabling the conversion of C$665,282 in debt into common shares at C$0.60 per share, increasing Beaty's ownership to 20.15%. The company also granted up to 6,000,000 stock options to directors and officers, exercisable at $0.58 per share, expiring on November 23, 2026.

Lumina Gold Corp. has completed a consolidation of its Cangrejos project concession package, enhancing efficiency in permitting and development. The main Los Cangrejos concession now spans 4,999 hectares, streamlining operations across seven concessions instead of ten. This reorganization advances the project to the Advanced Exploration stage for up to eight years before requiring a Mining Production Title. Lumina retains a total land package of 6,373 hectares. The company plans to unify existing Environmental Impact Studies into one covering the new main concession.

Lumina Gold Corp. has commenced a significant 30,000 metre drilling program at its Cangrejos Gold-Copper Project in Ecuador. The initiative aims to enhance the current resource's confidence and potentially expand it, targeting completion by mid-2022. The program focuses on converting resources to Measured or Indicated categories for a forthcoming Prefeasibility Study and includes lateral drilling to support metallurgical and geotechnical assessments.