Lumina Gold Corp. provided an update on its key projects throughout Ecuador and plans for 2018. Last year was a very productive year with significant progress made across Lumina's portfolio of projects. The management team looks forward to building on that momentum in 2018. 2017 Highlights Announced an inferred mineral resource at the Company's flagship Cangrejos project in January, which subsequently increased 120% from 4.0 to 8.8 million ounces of gold at a grade of 0.65 grams per tonne in November Received key surface access rights to its Cangrejos 20 concession in December Commenced drilling a 5,000 meter program at the Condor project in November Raised CAD 20 million through a private placement in November Obtained fourteen new concessions, in addition to the eighteen awarded to it in late 2016, making Lumina the second largest land holder in country with approximately 135 thousand hectares Announced a non-binding USD 38.5 million earn-in agreement with First Quantum on the Cascas and Orquideas concessions (the binding agreement is in the final stages of documentation) Cangrejos Update In December 2017 the Company was awarded a surface access easement over the Cangrejos 20 concession, which facilitates exploration and drilling over the next four years. Surface access to this part of the Cangrejos project will allow for completion of the 12,000 meter infill and extension program, of which 7,200m has been drilled. Lumina is working to obtain approvals for its environmental impact study for Cangrejos 20, which is required before drilling can commence. The Cangrejos Preliminary Economic Assessment ('PEA') is advancing, with initial mine planning and optimization studies complete. Facilities and tailings site placement scenario work is ongoing, with PEA consultants scheduled to participate in a site visit in January 2018. Preliminary optimization work indicates that a two phase mine plan, with an initial throughput processing rate of 40,000 tons per day, followed by an expansion to 80,000 tons per day will be optimal. This approach should minimize initial upfront capital and maximize the overall project economics. The second round of metallurgical test work has been completed and Lumina expects to release the results in January. Lumina continues to expect completion of the PEA during or by the end of Second Quarter 2018. Condor Update In November 2017, a 5,000 meter drill program was initiated at Santa Barbara. Seven holes and approximately 1,560 meters of drilling have been completed to date and work is ongoing. The program is attempting to extend mineralization that was contained in the previous pit shell and enhance project economics. An Induced Polarization ('IP') geophysics campaign at the Santa Barbara deposit, run by Arce Geofísicos S.A.C., is in progress and approximately 22 of the planned 25 line kilometres have been completed to date. In addition to the ongoing IP and drilling programs, the soil sampling grid has been extended to the north of the Santa Barbara resource at an adjacent area called La Escondida and results are expected later this month. Early Stage Concessions and Regional Exploration Program Update Lumina's project generative work at Orquideas (Zamora Province, south of Condor) continues to yield positive results and an advanced exploration permit application has been submitted to facilitate a drilling program in 2018. Orquideas comprises several porphyry copper-molybdenum centers spread over a five kilometer zone. The constituent granodiorites are notable for hosting elevated molybdenum grades up to 0.63% Mo in sheeted quartz-epidote±pyrite veins. In addition to the nearly 1,100 rock samples assayed in 2017, structural mapping and terrain analysis have revealed the structural controls of high grade copper-molybdenum mineralization. Induced polarization surveying over 36 line kilometres will commence in First Quarter 2018 to further guide the Orquideas project toward drill readiness. The Company is in the final stages of documenting the 5-year, USD 38.5 million earn-in agreements with First Quantum that was announced on October 26, 2017. In the meantime, Lumina has been working with First Quantum to design a 2018 work program for Orquideas and Cascas. Detailed work has been ongoing at Pegasus A-1 (La Envidia) and A-4 (Luz). First pass screening of the entire expansive Pegasus a block is scheduled to be completed in 2018. Sampling at La Envidia has identified outcropping gold with grades up to 59.4 ppm Au and >100 ppm Ag hosted in gossanous and brecciated volcano-sediments. A new target at Luz was discovered and shows broad zones of coincident copper-molybdenum-silver mineralization in skarniferous volcano-sediments. Rock chip samples have yielded up to 0.66% Cu and up to 30.9 ppm Ag. The Company has commenced grass roots exploration on its Tarqui concession blocks in Morona Santiago Province. Tarqui and the nearby Quimi concessions are strategically located between the Mirador porphyry copper gold deposit, currently under construction, and the Panantza San Carlos porphyry copper-gold deposit, the latter constituting the largest inferred copper resource in the Zamora Copper-Gold Metallogenic Belt. Both Tarqui and Quimi were prospected by Billiton BV in the mid-1990s, at which time several large soil copper, gold and molybdenum anomalies were identified.