Lupaka Gold Corp.
TSX : LPK
LMA : LPK
FRANKFURT : LQP

Lupaka Gold Corp.

May 16, 2013 17:31 ET

Lupaka Gold Reports Voting Results for Election of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2013) - Lupaka Gold Corp. ("Lupaka Gold" or "the Company") (TSX:LPK)(LMA:LPK)(FRANKFURT:LQP) is pleased to announce the director election results from its 2013 annual general meeting of shareholders (the "Meeting") held in Vancouver earlier today.

All candidates proposed as directors were duly elected to the Board of Directors of Lupaka Gold by a majority of the votes cast by shareholders present or represented by proxy at the Meeting, as follows:

Nominee Votes For Votes Withheld
Number Percent Number Percent
Gordon L. Ellis 22,693,948 99.64% 81,047 0.36%
Eric H. Edwards 22,738,255 99.84% 36,740 0.16%
John K. Graf 22,739,970 99.85% 35,025 0.15%
Norman B. Keevil 22,719,913 99.76% 55,082 0.24%
Stephen H. Silbernagel 22,740,588 99.85% 34,407 0.15%
Jaime A. Pinto 22,712,782 99.73% 62,213 0.27%
Hernan F. Barreto 22,712,789 99.73% 62,206 0.27%
Luquman A. Shaheen 22,699,736 99.67% 75,259 0.33%

The formal report on voting results with respect to all matters voted upon at the Meeting will also be filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com.

Clarification

The Company also advises that the Chairman's message to shareholders in the Company's recently filed 2012 Annual Report inadvertently referred to the Company having two projects with mineral reserves as well as a completed feasibility study for the Invicta Gold Project. As previously disclosed, the Company confirms that the Company's Crucero Gold Project and the Invicta Gold Project contain National Instrument 43-101 compliant resource estimates, but that none of the Company's projects currently have mineral reserves or a completed feasibility study, and accordingly the inadvertent references to reserves and a feasibility study should not be relied upon. The Company is filing concurrently with this release an amended and restated 2012 Annual Report that replaces the previously filed 2012 Annual Report.

About the Company

Lupaka Gold is a Peru-focused gold explorer with geographic diversification and balance through its interest in asset-based resource projects spread across three regions of Peru.

Lupaka Gold's flagship project is the Crucero Gold Project, its 5,500 hectare gold property located in southern Peru. The Company, based in Vancouver, Canada, is project operator and holds a 100% indirect interest in the Crucero Gold Project. Since commencing active exploration in April 2010, the Company has reported annual NI 43-101 compliant gold resource estimate increases for the Crucero Gold Project in the first quarter of 2011 and 2012 (see the Company's most recent technical report on www.sedar.com).

As a result of the Company's recent acquisition of Andean American Gold Corp., Lupaka Gold's assets now include the 100% owned Invicta Gold Project (central Peru), which has near-term underground gold and poly-metallic development potential, and a strategic 17% stake in Southern Legacy Minerals Inc., owner of the AntaKori copper-gold deposit located in northern Peru.

Forward-Looking Information

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to the Company's future upgrading of mineral resources and expected outcomes. Often, but not always, forward-looking information can be identified by the use of words such as "estimates","potential", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.

The forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including that the current price of and demand for gold will be sustained or will improve, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms, that supplies, equipment, personnel, permits and local community approvals required to conduct the Company's planned exploration and development activities will be available on reasonable terms, that results of exploration activities will be consistent with management's expectations and that the Company will not experience any material accident, labour dispute, or failure of equipment.

However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risk that actual results of exploration activities will be different than anticipated, that cost of labour, equipment or materials will increase more than expected, that the future price of gold will decline, that the Canadian dollar will strengthen against the U.S. dollar, risk of accidents, labour disputes and other risks generally associated with mineral exploration and unanticipated delays in obtaining or failure to obtain community, governmental or regulatory approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

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