VANCOUVER, BRITISH COLUMBIA – March 22, 2024 – Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) announces that the Arbitration Tribunal has advised the Parties that the Tribunal has held deliberations on the case, and drafting of the ruling is well underway.  However, work remains, given the very extensive arguments presented by both Parties.  

The Tribunal is working with a view to completing its drafting (of its decision) by this summer, with the goal to release the ruling in the course of the second half of the year, bearing in mind also the time necessary to finalize the ruling in the two procedural languages.  The Tribunal will provide a more concrete report of the anticipated timing of the ruling as soon as practicable.

Gordon Ellis (CEO) commented “It has been over five years since a neighbouring community illegally blocked access to and caused the termination of the Company’s (former) Invicta mining operation. It has been over four years since the Company initiated its arbitration action against the Republic of Peru. The fact that we now have a definitive timeframe for the resolution of this dispute is a very positive step. To date, nothing has come to our or our advisors’ attention that would suggest that the validity or efficacy of our Arbitration Claim has changed.”