News Release for Early Warning Report Regarding Lumina Gold Corp.

VANCOUVER, British Columbia, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 ? 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announced that on October 26, 2023, he acquired ownership of 36,484,604 common shares ("Common Shares") in the authorized share structure of Lumina Gold Corp. ("Lumina"), a company with a head office at 410 ? 625 Howe Street, Vancouver BC V6C 2T6. Mr. Beaty acquired ownership through the exercise of a conversion right (the "Transaction") under an amended and restated credit agreement dated December 13, 2022 between Lumina and Mr. Beaty (the "Amended and Restated Credit Agreement") converting the outstanding principal in the amount of $15,000,000 and accrued but unpaid interest in the amount of $323,534.27 (collectively, the "Convertible Debt").

Prior to the Transaction, Mr. Beaty owned, directly or indirectly, or exercised control or direction over, 78,848,082 Common Shares, 1,483,334 vested stock options to acquire Common Shares ("Options") and the Convertible Debt. The 78,848,082 Common Shares represented approximately 20.78% of the total number of issued and outstanding Common Shares prior to the Transaction. If all of the Options were exercised, and all of the Convertible Debt was converted into 36,484,604 Common Shares at the Conversion Price, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 27.99% of the total number of issued and outstanding Common Shares on a partially-diluted basis.

Following the Transaction, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 115,332,686 Common Shares and 1,483,334 Options. The 115,332,686 Common Shares represent approximately 27.73% of the issues and outstanding Common Shares. If all of Mr. Beaty's 1,483,334 Options are exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 27.99% of the issued and outstanding Common Shares on a partially-diluted basis.

The Transaction was made for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of Lumina in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Lumina and other relevant factors.

A copy of the Early Warning Report filed under applicable securities laws is available under Lumina's profile on SEDAR (www.sedar.com).

For more information, please contact:

Ross J. Beaty
1550 ? 625 Howe Street
Vancouver, British Columbia
V6C 2T6

Telephone: (604) 806-3173
Facsimile: (604) 684-0147