First CVR Payment

VANCOUVER, BC / ACCESS Newswire / August 17, 2026 / Lupaka Gold Corp. ("Lupaka" or the "Company") (TSXV:LPK)(FRA:LQP) advises that the Company's directors have declared a first Contingent Value Right ("CVR") payment ("CVR Payment 1") to the holders of the 160,277,702 contingent value rights (the "CVR Holders").

First CVR Holder Payment and Timing

The Company's directors have declared a first CVR Payment of USD0.109 per CVR, to be paid via Computershare Trust Company of Canada ("Computershare") within the next ten (10) business days.

This payment will be made directly via cheque to Registered CVR Holders by Computershare, and in cash to Non-Registered CVR Holders via the intermediary securities framework, typically referred to as the indirect holding system. Securities intermediaries include central depositories (such as CDS, CEDE and DTS) and financial institutions (including broker-dealers, banks and trust companies).

As noted on the Company's website (see https://lupakagold.com/arbitration/), CVR Payments made to non-resident Registered CVR Holders will be subject to a 25% withholding tax, unless the related CVR Holder is a tax resident of a sovereign country having a valid tax treaty with Canada and has provided the Company with a completed Form NR301 prior to the total CVR Holder payments being forwarded to Computershare.

Determination of the CVR Payment 1 Amount

As announced on August 4, 2026, the Company accepted a 2-step payment proposal from the Peru Government, resulting in the Company receiving 70% of the Base Award, equal to USD46,221,474, and 70% of the reimbursed Lupaka Costs, equal to USD3,211,721 from the Ministry of Energy and Mines. Both amounts include interest accrued to June 30, 2026.

As set out in the June 2022 Contingent Value Rights Trust Indenture Agreement, the first CVR Payment amount has been determined by the Company's directors as follows:

Less: amounts payable to the Company's arbitration financier (Bench Walk Advisors); legal and professional fees; accounts payables and accrued liabilities as of the Award date (June 30, 2025); the estimated costs of the first CVR distribution; withholding and distribution tax costs; and C$8 million retained by the Company for working capital and other corporate purposes.

Second CVR Payment

As previously announced, the remaining 30% of the Base Award, equal to USD19,809,203, and 30% of the Lupaka Costs, equal to USD1,376,452, will be paid by the Peru Government's Ministry of the Interior ("MOI") by December 31, 2026. This amount includes interest accrued to June 30, 2026. Once the MOI payment is received, the Company will immediately undertake the payment of a second CVR Payment, that is expected to be greater than CVR Payment 1.

Gordon Ellis (CEO) commented "We are pleased with having the ability to pay the first CVR Payment very soon now, and again upon our receipt of the second Peru payment. With a solid treasury in hand now, the Company is actively moving forward on pursuing potential resource development projects".

For ongoing updates and more details with respect to CVR Holder distributions, please refer to the Company's website (www.lupakagold.com/arbitration/).

Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com).

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

About Lupaka Gold

Lupaka is a Canadian-based junior mining company focused on creating shareholder value through the identification and development of mining assets.

About LALIVE

LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.

About Bench Walk Advisors

Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.

FOR FURTHER INFORMATION PLEASE CONTACT:

Gordon Ellis, C.E.O.
[email protected]
Tel: (604) 985-3147

SOURCE: Lupaka Gold Corp.

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