Slow and steadyPress release from Accesswire Lupaka Gold Provides an Update on Its Projects Thursday, October 06, 2016 Lupaka Gold Provides an Update on Its Projects 11:19 EDT Thursday, October 06, 2016 VANCOUVER, BC / ACCESSWIRE / October 6, 2016 / Lupaka Gold Corp (TSXV: LPK) (FSE: LQP) ("Lupaka Gold" or the "Company") is pleased to provide an update regarding its three development projects, as follows: Invicta Gold Project ("Invicta") Invicta continues to move forward and we anticipate start-up of on-site work shortly. Although the Pre-Paid Forward Gold Purchase Agreement with PLI Huaura Holdings LP was signed on June 30, 2016, the actual receipt of funding has experienced some significant delays due to a number of items such as clarification of tax issues, re-structuring of pre-existing royalty agreements on the Invicta property and the very slow process of formally registering the liens and mortgages required under the financing agreement. As soon as funding is received, the Company intends to ramp-up to a 350 tonnes per day ("tpd") production rate as soon as reasonable while processing all mineralized material on a contract basis. Once a steady-state 350 tpd production rate is established, expansion potential and a timetable for the construction of Invicta's own processing facility will be developed. Please also see " Cautionary Note Regarding the Invicta Production Decision " below. Josnitoro Gold Project ("Josnitoro") Lupaka Gold is also moving forward with its Josnitoro project, a joint venture with Hochschild Mining. Company geologists have visited the Josnitoro site and confirmed historical geologic mapping and conducted a limited confirmation sampling program. Company geologists sampled the disseminated gold halo zone, obtaining values of 9 grams gold per tonne ("g/t") at surface, and sampled the central copper skarn zone receiving values of 1.76% copper and 1.2 g/t gold. Please see the Company's news release dated November 26, 2013 for further information on Josnitoro and the Hochshild Joint Venture. The Company is now focusing on the core copper/gold skarn zone where the former Josnitoro owner, Minerales del Suroeste S.A., reported high-grade sampling results for copper (of 3 to 9 percent) from samples taken in 2008 from existing mining works and from the sacks of mineral rock accumulated by artisanal miners from a four km long corridor. Currently this area is being mined by local artisanal miners on a small scale of a few hundred tonnes per day. Processors and off-takers for the artisanal miners' mineralized rock report consistent high-grade (of 2 to 5 percent) copper with gold being delivered to two different plants that are processing material from the copper skarn. Readers are cautioned that the historical sample results and the related reported grades and the sampling, analytical and test data underl y ing the historical sample results and reported grades have not been verified by the Company. Further, the samples were selectively collected and may not have been subjected to modern quality assurance and quality control measures, and therefore the results may not be representative or reliable. The Company will be stepping up its exploration of the property after the rainy season ends in early 2017. Crucero Gold Project ("Crucero") Crucero contains a pit constrained indicated/inferred resource estimate which is reported below. Geochem and rock samples indicate that additional gold anomalies may be present along strike both north and south of the main zone. Lupaka Gold is currently entertaining joint venture proposals for the Crucero property. Gordon Ellis, President and CEO commented, "The Company has three good properties, each of which has either a defined resource or ongoing small-scale mining over potentially large deposits." Mr. Ellis further commented that, "After a number of years of challenging market conditions to find sufficient funding, we look forward to further exploring and developing these assets at a much accelerated rate in today's improving metals markets." Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.