Lupaka Gold To Begin Permitting/Small-Scale Production At Invicta Gold Project

VANCOUVER, BC - Lupaka Gold Corp reported that it intends to initiate a small-scale mining operation at the Invicta Gold Project in Peru, at a rate of 300 tones per day (t/d) by Q1-2015.

The Company intends to commence production by using the existing 1.2 km of tunnels, utilizing contracted third-party mining, development and haulage, and sell the mineralized rock to a local mill for processing. This contract-mining strategy will significantly minimize required capital, surface disturbance, while reducing the impact on the local community. The Company forecasts that production can be commenced at a total cost of less than $2.0 million. Production is planned to initially target some of the highest grade gold and copper mineralization within the Atenea Vein, which contains the majority of the current Invicta gold resource.

Eric Edwards, CEO, commented that "The historical development work already provides us with access to an area containing some of the highest grade rock within the current resource. The considerable investment made by Invicta's previous owners has provided most of the infrastructure required for this proposed small-scale mining operation."

The current Invicta resource estimate shows a measured resource of 131,000 tones grading 6.65 grams per tone ("g/t") gold equivalent for 28,000 contained ounces of gold available from the in-situ development. As well, the current Invicta resource shows an Indicated resource of 8,513,000 tones grading 3.43 g/t gold equivalent for 939,000 contained ounces of gold and an Inferred resource of 2,534,000 tones grading 2.90 g/t gold equivalent for 236,000 contained ounces of gold.