VANCOUVER, BC, Dec. 10,
2024 /CNW/ - Lumina Gold Corp. (TSXV: LUM)
(OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to
announce that it has received notice of the passing of a resolution
by the Government of Ecuador's
Strategic Committee for the Promotion and Attraction of Investments
to extend its existing Exploration Investment Protection Agreement
to include spending from 2010 up until the end of 2024. The
increased amount of investment protected by the agreement is
US$79 million. The addendum to the
Exploration Investment Protection Agreement is expected to be
executed by public deed in the coming weeks.
Marshall Koval, CEO &
Director commented: "The Company is extremely pleased at the
progress made in the last month, which has seen the extension of
the Los Cangrejos concession by 25-years, completion of the
Exploitation Contract terms and this Exploration Investment
Protection Agreement extension. Lumina is looking forward to
completing the Complimentary Investment Protection Agreement to
cover the potential construction period for Cangrejos, 2025-2031
and announcing the results from the ongoing Feasibility Study in Q2
2025."
About Lumina Gold
Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base
metals development company focused on the Cangrejos Gold-Copper
Project located in El Oro Province, southwest Ecuador. In 2023, the Company completed a
Pre-Feasibility Study for Cangrejos, which is the largest primary
gold deposit in Ecuador. Lumina
has an experienced management team with a successful track record
of advancing and monetizing exploration projects.
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LUMINA GOLD CORP.
Signed: "Marshall Koval"
Marshall Koval, President & CEO,
Director
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.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to: completion of the public deed for the
Exploration Investment Protection Agreement extension, completing
the Complementary Investment Protection Agreement and the timing
and completion of the Feasibility Study. Often, but not always,
forward-looking statements or information can be identified by the
use of words such as "will" or "projected" or variations of those
words or statements that certain actions, events or results "will",
"could", "are proposed to", "are planned to", "are expected to" or
"are anticipated to" be taken, occur or be achieved.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions
including among other things, assumptions about general business
and economic conditions, the prices of gold and copper, and
anticipated costs and expenditures. The foregoing list of
assumptions is not exhaustive.
Although management of the Company believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
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SOURCE Lumina Gold Corp.