Lumina Resources Corp.

Lumina Resources Corp.

October 31, 2005 17:18 ET

Lumina Commences Drilling Island Copper Belt Targets

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Lumina Resources Corp. (TSX:LUR) ("Lumina") is pleased to report that core drilling has commenced on its claim holdings in the Island Copper Belt, 25 kms west-south-west of Port Hardy on Vancouver Island. The program is designed to test several targets developed during a field exploration program carried out during July and August of this year. The Island Copper Belt is a highly prospective area, measuring 35 kilometres in length and 5 kilometres in width, which hosts the previously mined Island Copper deposit, Lumina's (100% owned) Hushamu deposit and numerous additional copper/gold porphyry showings.

The Island Copper Mine, which was in production between 1971 and 1994, produced 34 million tonnes of ore grading 0.41% copper, 0.017% molybdenum, 0.19 g/t gold and 1.4 g/t silver. The Hushamu deposit, which was discovered in 1966, contains NI 43-101 compliant resources as follows:

Resource Copper Gold Copper Copper lbs Gold Ozs
Category Tonnes Grade % Grade g/t Equiv(i) % Billions Millions
Measured &
Indicated 231 0.28 0.31 0.47 1.4 2.3
Inferred 53 0.28 0.38 0.51 0.3 0.6
(i) Copper equivalent calculations use metal prices of US $0.90 per
pound for copper and US $375 per ounce for gold. Copper equivalent
has not been adjusted for metallurgical recoveries. Adjustment
factors to account for differences in relative metallurgical
recoveries for gold, copper and molybdenum will depend upon the
completion of definitive metallurgical testing.

The majority of the drilling will be conducted on claims held under option from Electra Gold Ltd. ("Electra"). Lumina can earn a 100% interest in Electra's mineral rights, totaling 14,600 hectares, by paying Electra $200,000 over a three-year period. Upon a production decision on any mineral resources delineated on the Electra concessions, Lumina will pay Electra $800,000 in cash or Lumina stock.

The drill program is being carried out under the supervision of Darcy Baker, P.Geo. and Jim Lehtinen P.Geo. of Equity Engineering Ltd., Qualified Persons as defined by National Instrument 43-101. A quality control and quality assurance program designed and monitored by Bruce Davis FAusIMM of Norwest Corp is in place to ensure integrity of core sample analysis.


Anthony Floyd, President

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