Lupaka Gold Reports Crucero Drilling on Target and Updates

Lupaka Gold Reports Crucero Drilling on Target and Updates Other
Exploration and Corporate Activities 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/19/12 -- Lupaka
Gold Corp. ("Lupaka Gold" or "the Company") (TSX:LPK) announces that
its 8000 metre drill program is on schedule at its 100%-owned, 5500
ha Crucero Gold Project in southern Peru.  
A-1 Resource Expansion Drilling 
Lupaka Gold now has two diamond drill core rigs working full-time on
the Crucero Gold Project, and has completed four drill holes (DDH-19,
DDH-53, DDH-54, DDH-55) for a total of approximately 1500 metres
since the 2012 drilling season commenced in late May. The first of
these holes was drilled to test the resource at depth in the
southwest portion of the A-1 Zone, while the other three holes were
drilled to test the northern extension of the existing A-1
mineralized envelope. The Company is currently drilling its fifth and
sixth holes of the 2012 season, which will also test northern and
depth extensions of the A-1 mineralized envelope.  
A map illustrating the above-referenced drill holes accompanies this
news release: 
Exploration Drilling 
Detailed geology and exploration field work is continuing on the A-3,
A-4 and A-5 Zones, now collectively called the Chaska Zone, to
identify high priority drill targets in that area. The Company has
committed to a third drill rig and is mobilizing that rig to the
Chaska Zone. Drilling is expected to commence on the Chaska Zone by
mid-August 2012. The Company plans to drill a total of approximately
4,000 metres for A-1 resource expansion and 4,000 metres on
additional targets, beginning with the Chaska Zone.  
Metallurgical Studies 
Based on internal Whittle pit results, the Company has selected four
new composite metallurgical samples for the 2012 metallurgical
testing program. The four composites lie within the ultimate
conceptual Whittle pit shell, and represent the metallurgical
characteristics that have been identified within the mineralized
envelope. Metallurgical test results are expected to be available for
release before the end of 2012. 
Listing on Lima Stock Exchange 
The Company is assessing the potential benefits of a listing of it
shares on the Lima Stock Exchange or the "BVL". The Lima Stock
Exchange is one of the major sources of capital funding for resource
companies operating in Peru. The purpose of such a listing would be
to expand the Company's financial and investor market access into
Peru, as well as provide more direct access to the Company for
investors throughout Latin America. 
Qualified Person 
William Burstow, Lupaka Gold's consulting geologist and a "qualified
person" as defined by National Instrument 43-101, has reviewed and
approved the scientific and technical information contained in this
news release, and has verified the data disclosed in this news
release, including sampling, analytical and test data underlying the
information or opinions contained in this news release. 
About the Company 
Lupaka Gold is aggressively exploring and developing the Crucero Gold
Project, its 5,500 hectare gold property located in southern Peru.
The Company, based in Vancouver, Canada, is project operator and
holds a 100% indirect interest in the property. Since commencing
active exploration in April 2010, the Company has reported NI 43-101
compliant gold resource estimate updates in the first quarter of 2011
and 2012 (see the Company's most recent technical report on In addition to the existing resource estimate, Lupaka
Gold has identified a number of exploration targets within the
Crucero Project that display similar anomalous characteristics.  
On July 17, 2012, Lupaka Gold and Andean American Gold Corp. ("Andean
American") announced that the companies have entered into an
Arrangement Agreement that provides for a combination of the two
companies to create a new Peru-focused gold exploration and
development company. Please see for details.  
Visit the Company's website at 
Forward Looking Information 
This news release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities regulations in Canada and the United States (collectively,
"forward-looking information"). The forward-looking information
contained in this news release is made as of the date of this news
release. Except as required under applicable securities legislation,
the Company does not intend, and does not assume any obligation, to
update this forward-looking information. Forward-looking information
includes, but is not limited to, statements with respect to mineral
resource estimates, the 2012 Crucero Project Drill Program, the
anticipated effect of completed drill results on the Crucero Gold
Project, planned work programs, future upgrading of mineral resources
and expected outcomes, and a business combination with Andean
American Gold Corp. (the "Business Combination") Often, but not
always, forward-looking information can be identified by the use of
words such as "plans", "expects, "is expected", "budget",
"scheduled", "estimates", forecasts", "intends", "anticipates", or
"believes", or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results "may",
"could", "would", "might", or "will" be taken, occur or be achieved. 
The forward-looking information contained in this news release is
based on certain assumptions that the Company believes are
reasonable, including, with respect to mineral resource estimates,
the key assumptions and parameters on which such estimates are based,
that the current price of and demand for gold will be sustained or
will improve, that general business and economic conditions will not
change in a material adverse manner, that financing will be available
if and when needed on reasonable terms, that supplies, equipment,
personnel, permits and local community approvals required to conduct
the Company's planned exploration and development activities will be
available on reasonable terms, that results of exploration activities
will be consistent with management's expectations, that the Company
will not experience any material accident, labour dispute, or failure
of equipment, that the Business Combination will be approved by the
shareholders of Lupaka Gold and Andean American and that the
companies will receive all necessary judicial and regulatory
approvals to complete the Business Combination. 
However, forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Such factors
include, among others, risk that actual results of exploration
activities will be different than anticipated, that cost of labour,
equipment or materials will increase more than expected, that the
future price of gold will decline, that the Canadian dollar will
strengthen against the U.S. dollar, that mineral resources are not as
estimated, unexpected variations in mineral resources, grade or
recovery rates, risk of accidents, labour disputes and other risks
generally associated with mineral exploration and unanticipated
delays in obtaining or failure to obtain community, governmental,
judicial, regulatory or shareholder approvals, or financing. Although
the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results to not be as
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Readers are cautioned not to place
undue reliance on forward-looking information due to the inherent
uncertainty thereof.
Lupaka Gold Corp.
Scott Warren
Manager, Investor Relations
+1 (604) 681-5900
Press spacebar to pause and continue. Press esc to stop.