Lupaka Gold Announces Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 19, 2017) - Lupaka Gold Corp (TSXV: LPK) (FSE: LQP) ("Lupaka Gold" or the "Company") announces that it intends to complete a non-brokered private placement (the "Placement") to raise gross proceeds of up to $300,000.

The Company plans to issue up to 2,000,000 units (the "Unit") priced at $0.15 per Unit.Each Unit consists of one common share and one transferable common share purchase warrant (each, a "Warrant").Each Warrant entitles the holder to purchase one additional common share, exercisable at $0.23 for a period of thirty six months from closing.

Insiders of the Company will be participating in the Placement.Proceeds from the Placement will be used for general working capital purposes in Canada and to further the Company's Peruvian projects.

Final closing is expected to occur before the end of May, 2017, subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange.The shares and Warrants issued in the Placement are subject to a four-month hold period.

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

About Lupaka Gold

Lupaka Gold is a Peru-focused gold explorer and developer with geographic diversification and balance through its interests in asset-based resource projects spread across three regions of Peru.

FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon L. Ellis, C.E.O.
+1 (604) 681-5900
or visit the Company's profile at www.sedar.com or its website at www.lupakagold.com

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