Lumina Copper Corp LCPRF

Exploration JV - The results should be good…

[Haiduk]

… just because we already know they should … as already indicated by LCC and CCD…

Here are some (non-exhaustive) elements, resulting from a compilation of already released documentation (all those elements are already known).

Exploration JV

The Exploration JV (on Francisco II & I) has been completed on November 28, 2012 and consisted into 10 reverse circulation drill holes totalling 3,695 metres (Lumina last M&D – Page 4).

According to Cascadero Press Release, the drill program was defined as follows:

• Francisco I - The drill targets are a combination of gravity and magnetic anomalies and areas of surface rock grab samples that assayed copper and gold values

• Francisco II - The drill program on Francisco II is proposed … to the west of Lumina's existing grid … are designed to test the continuation of this mineralization along an apparent northwesterly structural trend. In addition, 3 reconnaissance style drill holes … are planned to test the contact relationship with the volcanic sediments and the underlying granite host rock.

JV Drill locations on Francisco II

According to the last Cascadero Presentation published on Jan 18, 2013 – Page 10, the current JV Exploration campaign consisted in 11 (?) Drill hole locations (7 on Francisco II and 4 on Francisco I).

As compared with Lumina’s NI 43-101 Technical Report – January 2013 – Page 7/7, the location of 4 drills is within the LCC 0.30% CuEp Resource boundary or within the LCC “Extent of Resource Pit – November 2012”.

The Lumina’s western claim boundary (with Francisco II) approximately corresponds to a vertical line, linking the Reverse Circulation Drills RC-19, RC-23 and RC-30.

As illustrated per Figure I below (I hope it will remain attached to the post), where:

• the approximate borders of the Francisco II claim are lined,
• the location of the Reverse Circulation Drills RC-19, RC-23 and RC-30 are highlighted
• and the approximate location of the 7 JV Drills on Francisco II

Note: the approximate borders of Francisco II and the approximate location of the JV Drills on Francisco II are indicated in the Cascadero Presentation published on Jan 18, 2013

Mineralization at the boundaries with Francisco II

Lumina already communicated that “Drill results received to date are highlighted by hole RC-19 that intersected 222 meters grading 0.69% copper, 0.13 g/t gold and 0.01% molybdenum (0.83% copper equivalent(1), including 40 meters grading 1.67% copper, 0.38g/t gold and 0.02% molybdenum (2.01% copper equivalent)”.

For complete information, RC 23 has 0.83% CuEq on 152 meters and RC 30 has 0.61% CuEq on 100 meters.

Furthermore, the Figure 7-5 – Page 7/8 – NI 43-101 Technical Report – January 2013, illustrates the continuation of the copper mineralization to the west on Francisco II (TTBJ12-109 = RC-19 – See “Section 3950” on Figure I) with mineralization up to above 0.6% CuEq.

It should be noted that the western part of the enriched zone is not part of Lumina’s initial Claim (it is outside the “Extent of the Resource Pit”); those resources could now also been mined since the JV with Salta! In other words, LCC and CCD were bound to JV, as already underlined by Midas, prior to this JV announcement!

Another indication is given within the NI 43-101 Technical Report – January 2013, Figure 7-8 – Page 7/11, where a zone with “Quartz – Hematite veins (Cu-Au)” (covering part of Francisco II) is framed, with the following comments:

“Corriente explored these veins by trenching and shallow drilling. Significant supergene copper mineralization was found in this area by deeper drilling; it remains partially open. Note that there are no resources derived from these gold-copper, quartz-hematite veins included in the mineral resources listed in Section 14 (Mineral Resource Estimate).”

And, logically, the extent of a mineralization is not geographically linked to a certain claim…

Francisco II – High probability of good results

In view of the above, there is a high probability that the 4 drills (to test the continuation of this mineralization) will show positive results.

The results of the 3 reconnaissance style drill holes located within the “Quartz – Hematite veins (Cu-Au)” and near the Corriente historic drills should be positive too.

But, and it should be underlined, the JV Exploration campaign was not dedicated to verify if Francisco II is hosting another deposit! However, the mineralization of those locations should provide valuable clues about this possibility.

Will some other indications result from the 4 drills on Francisco I?

Another Deposit?

According to Cascadero, their properties near Lumina Claim have gold – copper veins and high-potential to host Cu-Au-Mo porphyry deposits and high-grade supergene copper deposits (please refer to Exploration Update – June 18th 2012, for additional information supporting this statement).

Is the possibility of another deposit in the region the reason behind Lumina’s recent (and major) acquisition of additional Claims?

Francisco II, a key element for Lumina Infrastructure and Mining operations?

The LCC “Extent of Resource Pit – November 2012” covers a substantial part of the LCC Claim (the east side of this claim is located on the “salar”) raising questions about the location of the future mining infrastructure (impacting the “salar” could potentially raise environmental concerns and substantially delay the project).

In this regard, the nearby location of Francisco II offers an interesting opportunity for LCC… but the forthcoming PEA (“released to the market at the end of February – beginning of March”) should provide an answer to this hypothesis.

Cascadero already positively considers this possibility since “Due to Taca Taca Bajo's location with respect to the Arizaro Salar, it will likely be mined from the west, northwest or north first. Francisco I and Francisco II cover the majority of this area” (please refer to Exploration Update – June 18th 2012, Page 4). This point has also been previously underlined by Midas.

Note: this text reflects my own opinion and is not dedicated to promote any of the JV stakeholders; it is strongly recommends to seek advice from a qualified investment advisor / geologist before making any investment decision.