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Lupaka Gold Intercepts 10 Meters At 3.11 g/t Gold And 17 Metres At 2.16 g/t Gold In A-1 Zone, And Reports On Chaska Drilling Progress At Crucero Gold Project

VANCOUVER, BRITISH COLUMBIA, OCTOBER 29, 2012 – Lupaka Gold Corp. (“Lupaka Gold” or “the Company”) (TSX:LPK) announces that it has received assay results from five additional drill holes from the ongoing 2012 drilling program on its Crucero Gold Project in southeast Peru. Of the five holes reported, four were drilled on the A-1 resource zone and one drilled on the outer perimeter of the exploration target known as the Chaska Zone, located approximately two kilometres to the east of the A-1 Zone.

Diamond drill hole DDH-20 in the southwest section of the A-1 Zone mineralized envelope reported 10 metres at 3.11 gpt gold and 23 metres at 1.76 gpt gold. DDH-34 in the northeast section on the A-1 Zone contains a significant width of 17 metres at 2.16 gpt gold. Both of these holes were drilled to test the extent of the mineralization at depth and were successful in doing so. The results confirm that the A-1 Zone mineralization is continuous along strike and open to depth. Hole DDH-57 did not intercept significant mineralization. See Figure 1 below for A-1 Zone drill hole locations.

The Company also reports that it has received assay results from the first exploratory diamond drill hole on the Chaska Zone (DCH-01). The hole is located on the northwest boundary of the target area and encountered interesting sulphide mineralization and geology that is consistent with that found on the perimeter of the A-1 Zone. Drill core from the first hole did not encounter significant gold mineralization. Eric Edwards, President and CEO of Lupaka Gold commented, “We are encouraged with the geologic information obtained from the first Chaska Zone hole and the presence of Crucero type exploration signature characteristics.”

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