VANCOUVER, BC--(Marketwired - November 16, 2016) - Lumina Gold Corp. ("Lumina" or "Company") (TSX VENTURE: LUM) is pleased to announce that it has been awarded a number of mineral exploration concessions in Ecuador pursuant to a public tender process. The results of the tender were announced yesterday by the Ministry of Mines for Ecuador.
Of particular significance is the Cangrejos 20 concession, which is surrounded by the Company's existing Cangrejos project. (See Figure A). The addition of this concession consolidates Lumina's land position in an area that has had a combined 15,747 metres of drilling comprised of 55 holes.
Lumina has also been awarded Mining Titles for the Pegasus A1-7 and Pegasus B8-14 concessions, an early-stage gold project comprising 66,525 hectares approximately 150 km southwest of Quito.
"Lumina is very excited to have been awarded these concessions that will both allow the Company to advance and develop the Cangrejos concession as well as explore a large and expanding land package in prolific mineral districts throughout the country. We intend to continue our record of aggressively advancing exploration and development projects and look forward to providing shareholders with additional news on all of the Company's projects in the near term," said Marshall Koval, Lumina's President and Chief Executive Officer.
The next step in the process with respect to the new Cangrejos 20 concession is the granting of official Mining Titles by the Ecuadorian government, which Lumina anticipates will occur prior to year-end.
Lumina Gold Corp.
Signed: "Marshall Koval"
Marshall Koval, President & CEO
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 the location of Lumina's land position and ownership of concessions. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of that word and phrases or statements that certain actions, events or results "will" be taken, occur or be achieved. 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 Lumina'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.
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