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Lumina Copper Comments on Recent Share Price Movement and Provides Update on Strategic Review Process

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/27/14 -- Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company" or "Lumina") announced today, in response to trading activity that may stem from market rumours, that its strategic review process that was announced on June 15, 2012 remains ongoing. As part of that process, the Company has examined a number of alternatives including, but not limited to, joint ventures, strategic partnerships, mergers, acquisitions, and the sale of the Company or other corporate transactions to enhance shareholder value.

From time to time, this strategic process leads to third parties conducting due diligence on Lumina and Lumina entering into discussions with third parties regarding strategic alternatives. There can be no assurance that any such current discussions will ultimately lead to a transaction. As a general policy, Lumina does not publicly comment on strategic discussions unless and until its board of directors has approved a specific transaction or such disclosure is otherwise appropriate. The Company intends to make no further comment or release regarding current market rumours unless and until such comment is warranted.

LUMINA COPPER CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD-LOOKING INFORMATION OR STATEMENTS: This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995, respectively. Forward-looking statements include, but are not limited to, statements with respect to management's assessment of its strategic review process, current discussions with third parties, whether such discussions ultimately lead to a transaction and whether such any transaction will be fair to shareholders and in the best interests of the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to general economic conditions, political conditions in Canada and Argentina, risks related to unsatisfactory third party due diligence on the Company and its properties, risks related to international operations, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of copper, gold and molybdenum, future currency exchange rate fluctuations, as well as those factors discussed in the sections relating to risk factors of our business filed in the Company's required securities filings on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information or statements, there may be other factors that cause results to be materially different from those anticipated, described, or intended. There can be no assurance that any forward-looking information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information or statements. The Company does not undertake to update any forward-looking information or statements that are set out in this news release, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contacts:
Lumina Copper Corp.
David Strang
President & CEO
604 646-1880
604 687-7041 (FAX)
[email protected]

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