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VANCOUVER, BRITISH COLUMBIA, NOVEMBER 15, 2023 – Lupaka Gold Corp. ("Lupaka Gold" or the “Company") (TSX-V: LPK, FRA: LQP) announces that the Company has closed the non-brokered private placement (the “Closing”) previously announced on October 18, 2023 (the “Placement”).

At the Closing, the Company issued 500,000 units at a price of $0.06 per unit for gross proceeds of $30,000.  Each unit consists of one common share (“Share”) and one transferable common share purchase warrant (“Warrant Share”) entitling the holder to purchase an additional common share of the Company at a price of $0.10 for a period of three years from the Closing. All Shares issued and Warrant Shares (if exercised prior to March 16, 2024) are subject to a hold period expiring four months plus one day from the Closing in accordance with applicable securities laws. Closing of the Placement is subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange.

No finders’ fees were paid, and the proceeds of the Placement will be used to fund property acquisitions and development expenditures, and general working capital.