Lumina Gold Announces AGM Results and Completes Amendment of Unsecured Credit Facility with Ross Beaty

Lumina Gold Corp. announces the results of its annual general and special meeting of shareholders held on December 15, 2022 in Vancouver (the “Meeting”). Lumina’s shareholders voted in favour of each of the matters considered at the Meeting, including:

1. Electing each of Marshall Koval, Lyle Braaten, Donald Shumka, Michael Steinmann, Stephen Stow and Heye Daun as directors of the Company to hold office for the ensuing year;
2. Appointing auditors for the ensuing year and authorizing the board of directors to set their remuneration; and
3. Approving Lumina’s amended and restated 10% rolling stock option plan.

Additionally, the Company is pleased to announce that it has completed the amendment of its unsecured credit facility (the “Facility”) with the Company’s largest shareholder, Ross Beaty, on the terms as previously announced on December 13, 2022. In addition to the increase in size of the Facility from C$10.0 million to C$15.0 million, among other amendments, the principal amount of any loans outstanding under the Facility, together with accrued interest of $323,534 as at December 13, 2022, shall be fully convertible into common shares of the Company (“Common Shares”) at a price of C$0.42 per share, at the option of the lender (the “Conversion Right”). If the Facility is drawn down in full by the Company, and the Conversion Right is exercised in full by the lender, a maximum of 36,484,605 Common Shares would be issued.

Any Common Shares issued pursuant to the Conversion Right shall be subject to a hold period of four months and one day from the date that the corresponding principal amount was loaned to the Company.

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. Cangrejos is being advanced to a Pre-Feasibility Study and 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.

Further details are available on the Company’s website at https://luminagold.com/. To receive future news releases please sign up at https://luminagold.com/contact.

LUMINA GOLD CORP.

Signed: “Marshall Koval”

Marshall Koval, President & CEO, Director

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