Results From Condor Camp Deposit And Recommencing Of Drilling

VANCOUVER, BC - Luminex Resources Corp.  reported that Condor Camp deposit drilling results for hole CC20-29 and announce that it is recommencing drilling at the Condor project. The Company has completed approximately 17,800 meters in 32 holes at the Camp deposit since the campaign began and results from CC20-30 to CC20-32 are still pending. Hole CC20-29 and subsequent holes were not included in the maiden mineral resource estimate for the Camp deposit.

Step-out hole CC20-29 intercepted a new high-grade area measuring 21 meters core length from 617.0 to 638.0 meters grading 4.26 g/t gold and 26.3 g/t silver. The intercept included 4.0 meters core length from 630.0 to 634.0 meters grading 10.53 g/t gold and 42.8 g/t silver. This intercept is located at approximately 530 meters vertical depth and is approximately 110 meters horizontally from the previously reported intercept in hole CC19-12 and approximately 280 meters south-southwest and approximately 50 meters below the previously reported interval in hole CC19-23. More drilling is needed to determine the geological data required to calculate true widths for the intercepts.

Luminex has elected to restart drilling on a limited basis. Drilling will focus on Soledad Bajo, the immediate southeast surface extension of the Camp deposit, using one drill rig running a single daily 12-hour shift. The Government of Ecuador has mandated that companies in “Strategic Industries”, a denomination that includes mining, may continue operations during the COVID-19 State of Exception. Luminex continues to follow the Ecuadorian health and safety requirements as well as strict in-house safety protocols developed to minimize risk to employees and contractors from COVID-19. To date the Company has had no occurrences of COVID-19 at its Condor project. Employees and contractors are screened and tested prior to any personnel shift changes at the project.

All Luminex sample assay results have been independently monitored through a quality control / quality assurance (“QA/QC”) protocol which includes the insertion of blind standards, blanks as well as pulp and reject duplicate samples. Logging and sampling are completed at Luminex’s core handling facility located at the Condor property. Drill core is diamond sawn on site and half drill-core samples are securely transported to ALS Laboratories’ (ALS) sample preparation facility in Quito, Ecuador. Sample pulps are sent to ALS’s lab in Lima, Peru for analysis where gold content is determined by fire assay of a 50-gram charge with ICP finish.