Lumina Gold Announces Closing of Previously Announced Private Placement of Common Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 13, 2016) -

NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Lumina Gold Corp. ("Lumina") (TSX VENTURE:LUM) is pleased to announce that it has completed its non-brokered private placement (the "Private Placement") of common shares in the capital of Lumina (the "Shares") previously announced in Lumina's news release dated November 22, 2016. Lumina issued 28,571,428 Shares at a price per Share of $0.70 for gross proceeds of approximately CDN $20 million.

The net proceeds of the Private Placement will be used to advance exploration of Lumina's properties and for general working capital purposes.

Shares issued under the Private Placement will be subject to a four month hold period ended April 14, 2017. Shares issued outside of Canada will also be subject to restrictions on resale pursuant to applicable securities laws. Finder's fees of 4% of the proceeds from certain subscribers were paid to Haywood Securities Inc., Trimark Trading and Vandamme Invest.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

LUMINA GOLD CORP.

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

The foregoing information contains forward-looking statements regarding Lumina's future plans. In making the forward-looking statements in this release, Lumina has applied certain factors and assumptions that are based on information currently available to Lumina as well as Lumina's current beliefs and assumptions made by Lumina, including the anticipated use of proceeds from the Private Placement. Although Lumina considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, risks associated with the business of Lumina and that Lumina may need to expend the proceeds from the Private Placement in a manner not currently contemplated. Although Lumina has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Lumina does not undertake to update any forward-looking information, except in accordance with applicable securities laws.