Lumina Gold Corp. (TSX-V: LUM) (OTCQX: LMGDF) is pleased to announce drill results from the thirteen hole metallurgical and pit slope geotechnical drilling program completed in 2019. These holes represent approximately 4,910 metres of drilling. All of the holes were on the Cangrejos deposit and were drilled to support ongoing engineering and economic study work.

Geotechnical holes were sited throughout the resource area to characterize structural, rock mechanics and hydrogeologic conditions within the June 2018 Preliminary Economic Assessments’ ultimate pit and to support future pit slope design engineering. Holes were typically collared within the known resource and angled across pit boundaries defined by the PEA mine plan. The holes did not specifically target mineralization, yet many cut significant intervals (see below table). Hole G2B cut one of the best mineralized intervals ever drilled at Cangrejos with 444 metres averaging 1.18 g/t gold and 0.09% copper from 4 metres below surface. In addition to high grades, G2B exhibited remarkable continuity of mineralization throughout the hole.

The metallurgical holes were drilled with large-diameter core (PQ) for multiple purposes. The holes targeted various rock types so composites could be prepared for 1) comminution testing, specifically High-Pressure Grinding Roll (HPGR) tests completed by FLSmidth Labs in Utah, USA and 2) corresponding metallurgical flowsheet development by Plenge Metallurgical Labs in Lima, Peru. Lumina expects results from the ongoing 2019 metallurgical test program to be released in September 2019.

Drilling at the Gran Bestia ridgeline is continuing with the expectation that drilling will conclude in September and a new resource estimate for Cangrejos, including Gran Bestia will be released in November. The new resource estimate will support Lumina’s assessment of future exploration and drilling needs. Gran Bestia drill holes 140 to 147 are pending results or in progress (see below drill hole location map). Hole 147 will be the last hole prior to the program ending.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/35a1908d-a000-456b-8303-7a72e305f2df

Drill Intercept Summary

Note: Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of ten continuous metres. Sampling is done in consistent, continuous 2-metre intervals. The highest gold value used in the reported weighted averages is 36.9 g/t Au. In addition to the above results there were multiple intercepts of lower-grade material in the drill holes.

Quality Assurance

All Lumina sample assay results have been independently monitored through a quality control / quality assurance program including 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 Cangrejos Project. The sampling of geotechnical and metallurgical holes was completed as per standard Cangrejos protocol with continuous two-meter long half core composited for assay. In order to preserve maximum integrity of the PQ core for engineering and metallurgical studies, a continuous slice was cut from the side of the core representing approximately one quarter of the volume. Core samples are securely transported to ALS Lab’s sample preparation facility in Quito, Ecuador. Sample pulps are sent to 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. ALS Labs 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 Persons

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 Cangrejos Project has reviewed, verified and approved the contents of this news release.

About Lumina Gold

Lumina Gold Corp. 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. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.