LCC

Lumina Copper Corp. ("Lumina Copper") (TSX VENTURE: LCC) and Lumina Royalty Corp. ("Lumina Royalty") are pleased to announce that they have closed their previously announced arrangement effective at 11:59 p.m. on June 16, 2011 (the "Effective Time").

Tax Information Related to the Plan of Arrangement

Under the terms of a statutory plan of arrangement which received shareholder approval on June 7, 2011 (the "Plan of Arrangement"), the shareholders of Lumina Copper (the "Shareholders") each received, as a distribution in respect of a reduction of capital, one common share of Lumina Royalty for each common share of Lumina Copper held at the Effective Time.

As described more fully in Lumina Copper's management information circular which was mailed to shareholders on May 10, 2011 (the "Circular"), each Shareholder must, for the purposes of the Income Tax Act (Canada), subtract from the adjusted cost base of the common shares of Lumina Copper held at the Effective Time an amount equal to the fair market value of the common shares of Lumina Royalty received under the Plan of Arrangement. Lumina Copper has obtained a professional valuation which ascribes to the common shares of Lumina Royalty at the Effective Time an aggregate fair market value of $25,735,000, or $0.683 per common share.

Lumina Copper will prepare its tax returns based on this valuation, and believes that it would be reasonable for the Shareholders to also rely on the valuation for their own tax purposes. However the valuation is not binding on the Canada Revenue Agency or the Internal Revenue Service.

The foregoing is qualified entirely by the Circular and is not intended to be tax advice to any particular Shareholder. Shareholders are encouraged to read the Circular in full and to consult with their own tax advisors having regard to their own circumstances.

The common shares of Lumina Copper will continue to trade on the TSX Venture Exchange under the symbol "LCC". The common shares of Lumina Royalty are not currently listed on any exchange.

LUMINA COPPER CORP.

David Strang, President & CEO

LUMINA ROYALTY CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of a reorganization of the Company and the transfer of certain of the Company's passive assets to a company to be incorporated, the future price of gold, silver, copper and molybdenum, and the Company's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the risks of the Company not obtaining the required approvals to proceed with the proposed reorganization, tax consequences of the proposed reorganization, risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in the Company's required securities filings on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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

Contacts: Lumina Copper Corp. David Strang President & CEO 604 646 1880 604 687 7041 (FAX) dstrang@luminacopper.com www.luminacopper.com Lumina Royalty Corp. David Strang President & CEO 604 646 1880 604 687 7041 (FAX) dstrang@luminacopper.com