Positive Condor North Preliminary Economic Assessment

VANCOUVER - Luminex Resources Corp. has received positive results from the Preliminary Economic Assessment (PEA) on a portion of the Condor Project - comprised of the Los Cuyes, Soledad, Enma and Camp deposits (collectively, "Condor North"), located in Zamora Chinchipe province. This is the first economic study on Condor North.

Marshall Koval, CEO, said, "This next step for Condor North validates the work that has been completed since the discovery of the Camp deposit. The PEA demonstrates that Condor North's multiple deposits could support a large-scale, profitable mining operation in one of the best mining districts in Ecuador. Our team believes that future drilling at Nayumbi and Prometedor will continue to add value to the Condor Project."

The PEA's highlights include the following estimates: Life of mine ("LOM") average annual payable production of 187 koz gold and 758 koz silver; 12-year mine life with a 25 ktpd processing operation; After-tax Net Present Value ("NPV") (5%) and Internal Rate of Return ("IRR") of $387 million and 16.0%; After-tax NPV (5%) and IRR of $562 million and 20.3% using $1,760 per ounce gold; Average cash operating costs of $748/oz and all-in sustaining costs of $839/oz, net of by-product credits; LOM processed grades of 0.72 grams per tonne ("g/t") gold and 5.9 g/t silver; LOM revenue mix of 95% gold and 5% silver; and Initial capital costs including working capital of $607 million, not including refundable value added tax.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the PEA will be realized.