Korelin Economics Report

Lupaka Gold Intercepts 10 Metres At 2.09 G/T Gold And 12 Metres At 3.17 G/T Gold In A-1 Zone At Crucero Gold Project

Lupaka Gold Corp. (“Lupaka Gold” or “the Company”) (TSX:LPK) announces that it has received assay results from six additional drill holes from the completed 2012 drilling program on its Crucero Gold Project. Of the holes reported, all six were drilled on the A-1 resource zone. These holes along, with the remaining holes still to be assayed, will be incorporated into a NI 43-101 resource estimate update, expected in the first quarter of 2013.

DDH-39, in the southwest section of the A-1 Zone mineralized envelope, reported 10 metres at 2.09 g/t gold. DDH-40 in the northeast section on the A-1 Zone contains a significant width of 46 metres at 1.42 g/t gold. DDH-58, also in the northeast section of the A-1 Zone reported 12 metres at 3.17 g/t gold. The results confirm that the A-1 Zone mineralization is continuous along strike and to depth. See Figure 1 below for the A-1 Zone drill hole locations.

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