Lumina Gold Drills Best Gran Bestia Hole to Date in the Center of the Deposit

Highlights:

• Hole C19-115: 1.24 g/t Au and 0.10% Cu over 194 metres from surface at Gran Bestia
  — Including 12 metres of 3.02 g/t Au and 0.12% Cu from 0 metres to 12 metres
  — Including 26 metres of 2.23 g/t Au and 0.31% Cu from 138 metres to 164 metres
  — 340 metres of mineralization over 522 metre hole
  

• Hole C19-112: 0.58 g/t Au and 0.15% Cu over 224 metres from surface at Gran Bestia
  — Including 66 metres of 1.09 g/t Au and 0.22% Cu from 6 metres to 72 metres
  — 442 metres of mineralization over 510 metre hole

VANCOUVER, British Columbia, May 28, 2019 (GLOBE NEWSWIRE) -- Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos and Gran Bestia resource infill, step-out and depth extension program. These ten holes (C19-107 to C19-116) represent approximately 5,030 metres of drilling. The results include three holes from the Gran Bestia Deposit and seven from the Cangrejos Deposit.

Holes C19-112 and 115 tested the known centre of the Gran Bestia Deposit. The holes were collared in mineralized breccia and drilled from the same pad, but in opposite directions defining a broad zone of mineralization at surface with grades well above the current Cangrejos Deposit resource grade. Hole C19-115 at Gran Bestia is the most impactful hole drilled to date when considering average grades, continuity and proximity to surface; factors that all combine to influence Gran Bestia’s potential to become a higher grade starter pit. Hole C19-107 is an infill hole which cut long intervals of moderate grade; in aggregate the hole contained 614 metres of reportable grade over its 802-metre length. Internal continuity to the Gran Bestia Deposit is becoming more apparent, while its limits have yet to be determined by drilling, as the Deposit remains open in all directions and at depth.

The seven holes from the Cangrejos Deposit were a mix of infill to increase confidence of anticipated mineralization, and step-outs to expand the resource. The most notable hole was C19-114, which was drilled in the extreme southwest, beyond the limits of any previous exploration. This hole continued to cut significant mineralization leaving the Cangrejos Deposit open for further expansion. Two holes with different orientations (C19-118 and 124) have been drilled to test this. In the C19-116 step-out hole, which was drilled on the southeast flank of the Cangrejos resource, the last 10 metres showed strong gold mineralization averaging 1.76 g/t Au, revealing a potential area for follow-up drilling.

Drill Hole Location Map

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/95809fc0-d828-4799-94b0-404c70828720

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 6.46 g/t Au. Above cut-off intervals of less than 10 m are not reported. 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 ("QA/QC") 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. Drill core is sawn in half on site and half drill-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. (TSXV: LUM) 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.

Further details are available on the Company’s website at https://luminagold.com/.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Drill Hole Location Map

Drill Hole Location Map