VANCOUVER, BRITISH COLUMBIA – October 30, 2025 – Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP).

Further to the Company’s news release of July 2, 2025, the following updates the status of the Award issued to the Company by the International Centre for Settlement of Investment Disputes (“ICSID”) on June 30, 2025.

ICSID Awards are final and binding on the parties and are subject to the limited post-award remedies provided for in the ICSID Convention (“Convention”), which is a treaty ratified by 158 Contracting States that includes Canada and Peru.  

Under the Convention, the Republic of Peru, the defendant, has 120 days from the date of the Award to request an annulment. That 120-day period expired on October 28, 2025, without such a request being filed. Accordingly, with no other remedies being available to Peru, the Company has issued to the Government of Peru a request for immediate payment of all amounts owed under the Award.

As of this date, the total amount of the Award is approximately US$67 million. Note that, per the Award, interest on this total compounds annually at approximately 9% (UST+5%).

Historically, Peru has reliably paid its obligations incurred from such actions as arbitration awards.

In the event that Peru does not pay the Award on a timely basis, the Company has various avenues of recourse, including the seizure of worldwide assets of the Republic of Peru.

Gordon Ellis (CEO) commented “We look forward to a quick and amicable resolution, and we are in continuing discussions with our legal counsel as to our next steps and how best to proceed. It is important to note that the first payments to be made subsequent to the receipt of any Award proceeds will go to our funding partner, Benchwalk LP. We will keep our shareholders informed as we progress.”