Drilling Expands High-Grade Camp Zone At The Condor Project

VANCOUVER, BC - Luminex Resources Corp. reported results from the final two holes of its initial four hole, “Phase 1” diamond drilling program at the Camp Zone in the northern part of its Condor Project, as well as the commencement of its “Phase 2” follow-up drill program. The results from these two drill holes complement those previously announced with the discovery of a high-grade, broad zone of precious metal mineralization.

Drill hole CC19-03 demonstrated lateral continuity of the high-grade gold and silver mineralization that was intersected in CC19-01 and 02. The best intersection from CC19-03 was 35 meters assaying 4.58 g/t gold and 10.3 g/t silver. Similar to the initial two drill holes, hole CC19-03 cut the mineralized zone at an angle of approximately 65 degrees with an approximate true thickness of 25 meters. The three longer intersections cut in holes CC19-01 to 03 (high-grade zone) are separated by 125 meters along trend, and as noted in the June 18 news release, holes CC19-01 and 02 ended in high-grade mineralization. Long intervals of lower-grade mineralization were also cut in CC19-03 from three meters below surface. The fourth hole did not penetrate deep enough to test the high-grade epithermal system.

These results help confirm the geometry of the high-grade zone and have prompted Luminex to plan the 2,300-meter Phase 2 program, consisting of seven new drill holes. Phase 2 drilling has commenced with one drill rig and a second drill rig will be added in the near-term. Phase 2 is designed to step-out along trend in both directions and to depth (see Figures 1&2). An extension to CC19-02 and a deep hole are also being planned as part of Phase 2. The deep hole will evaluate the relationship between the Camp Zone and the diatreme-hosted precious-metal deposit at Los Cuyes, situated 400 meters away. The hole’s location and depth will be determined following the completion of geophysics. Luminex believes there is likely a common magmatic source feeding the Camp Zone and Los Cuyes.

Channel samples collected along a newly constructed trail located on trend 380 meters to the northwest of drill hole CC19-02 have identified a probable extension to the zone. Assays show a 9-meter zone averaging 5.61 g/t gold (3 continuous 3-meter channel samples with individual assays up to 9.48 g/t gold) within a broader zone 18-meter zone averaging 3.16 g/t gold (6 continuous samples). Current surface rock sampling suggests the Camp Zone could extend 700 meters, only 125 meters of which has been drill tested.

The company’s address is 410, 625 Howe Street, Vancouver, BC V6C 2T6, (604) 646-1899, www.luminexresources.com.