Mr. Gordon Ellis reports

LUPAKA ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Lupaka Gold Corp. intends to complete a non-brokered private placement to raise gross proceeds of up to $75,000.

The company plans to issue up to 1.5 million units at a price of five cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of 10 cents for a period of three years from closing.

Insiders of the company will be participating in the placement. Gordon Ellis, president and chief executive officer of the company, and Darryl Jones, chief financial officer, are each acquiring 200,000 units in the private placement. Their participation is considered to be a related party transaction. However, the private placement transaction is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 as neither the fair market value of the units issued to Mr. Ellis and Mr. Jones, nor the consideration paid, exceeds 25 per cent of the company's market capitalization. No finders' fees are expected to be paid. The proceeds of the placement will be used to finance property research and general working capital. Additionally, the company further confirms that there are no undisclosed material changes.

Final closing is expected to occur before the end of October, 2024, subject to receipt of final applicable regulatory approvals, including approval of the TSX Venture Exchange. The shares and warrants issued in the placement are subject to a four-month hold period.

About Lupaka Gold Corp.

Lupaka is an active Canadian-based company focused on creating shareholder value through identification and development of mining assets.