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Vancouver, British Columbia - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce that it has closed its previously announced non-brokered private placement (please refer to the Company’s December 2, 2019 and December 6, 2019 press releases). A total of 18,004,000 common shares (the “Shares”) were sold at a price of C$0.50 per Share for aggregate gross proceeds of approximately C$9.0 million (the “Offering”). Ross J. Beaty has subscribed for 9,690,000 Shares, taking his ownership in Lumina from 17.95% to 19.90% on a non-diluted basis.

The net proceeds of the Offering will be used to fund study work at the Cangrejos Project and for general corporate purposes.

The Shares issued in the Offering are subject to a statutory four month and a day hold period that will expire on April 19, 2020. In connection with the Offering, finders’ fees of 4% were paid on the proceeds from certain subscribers to Haywood Securities Inc., Trimark Capital, First Globe Capital International Inc., Echelon Wealth Partners Inc. and Canaccord Genuity Corp.

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with the requirements of exemptions therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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/

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LUMINA GOLD CORP.

Signed: “Marshall Koval”