Updated Gold Resources At Crucero Gold Project 
 

VANCOUVER, BC - Lupaka Gold Corp. reported on the updated National Instrument 43-101 ("NI 43- 101") Indicated and Inferred mineral resource estimate for its 100% owned Crucero project located in southeastern Peru. The updated resource estimate has been prepared by Wardrop, a Tetra Tech Company.

The Company reports an indicated resource of 34.6 million tonnes at 1.03 gold grams per tonne (g/t) capped grade for 1,145,000 gold ounces at the A-1 Zone within the Crucero Gold project. In addition, the Company reports an inferred resource of 29.0 million tonnes at 0.69 g/t capped grade for 647,000 gold ounces at the A-1 Zone. Indicated resource ounces have increased 45%, and inferred resources have increased 59% compared to the last resource update completed February 22, 2011.

Eric Edwards, President and CEO said, "We are extremely pleased with the growth of the A-1 Zone resource as announced in today's updated NI 43-101 resource estimate. The size and confidence level of the resource is clearly improved with 64% of our total resource ounces falling within the Indicated category. The A-1 mineralized envelope remains open to the Northwest, leaving additional exploration opportunities for 2012 to continue to grow the A-1 Zone resource. The A-1 Zone is only one of 11 known exploration anomalies currently identified at the Crucero Gold Project, and is the only anomaly that has been drill tested. This year we plan to drill on new target anomalies that have not been drilled previously. With our current geological understanding of the A-1 Zone, we look forward to an exciting exploration year ahead."

This updated resource estimate includes the assay results from all 54 holes drilled (totalling 15,380 metres) within the A-1 Zone, including the 17 holes drilled in the A-1 Zone during the 2011 exploration program that was completed on December 31, 2011.

The Company has planned for 11,000 metres of drilling for the 2012 program with 5,500 metres for resource expansion on A-1, and 5,500 metres for exploration on the other anomalies within the Company's 5,500 hectare property area. The Company recently filed permit applications for the A-3/A- 4/A-5 Zone areas, approximately 2 kilometers to the east of the A-1 Zone and plans to commence exploration drilling on these exploration anomalies by mid-year 2012. A significant program of mapping, soil sampling and geophysics is also planned across the property to better define drill targets for the previously identified exploration anomalies.

Lupaka Gold is aggressively exploring and developing the Crucero Gold Project, its 5,500 hectare gold property located in southern Peru.