LCC

Lumina Copper Corp. ("Lumina Copper") (TSX VENTURE: LCC) is pleased to announce that its shareholders voted 99.98% in favour of approving the previously announced plan of arrangement under which the business of Lumina Copper will be reorganized into two companies, Lumina Copper and Lumina Royalty Corp. ("Lumina Royalty"), pursuant to the Business Corporations Act (British Columbia). Subsequently, the Supreme Court of British Columbia approved the arrangement. The details of the reorganization are set out in Lumina Copper's management information circular which was mailed to shareholders on May 10, 2011 and which is available on SEDAR.

Lumina Royalty owns the following core assets:

--  A 1.5% Net Smelter Return ("NSR") royalty on Teck Resources Ltd's
    Relincho copper/molybdenum project located in Region IV, Chile.
--  A 1.08% NSR royalty on Lumina Copper Corp.'s Taca Taca
    copper/gold/molybdenum project located in Salta Province, Argentina.
--  A copper royalty, including the advance royalty payments on Coro Mining
    Corp's San Jorge copper/gold/molybdenum project located in Mendoza
    Province, Argentina.
--  A 1.5% NSR royalty on all metal production, other than copper, on Coro
    Mining's San Jorge copper/gold/molybdenum project.
--  A 1-2% NSR royalty on Los Andes Copper Limited's Vizcachitas
    copper/molybdenum project located in Region V, Chile.

Lumina Copper's remaining core asset is the Taca Taca copper/gold/molybdenum project. The Taca Taca project, comprising approximately 2,500 hectares, is located in the Puna region of north western Argentina in Salta Province, approximately 230 kilometres west of the provincial capital of Salta and 90 kilometres east of the world's largest copper mine, Escondida.

On October 9, 2008, Lumina Copper announced it had received an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the project that at a 0.4% copper equivalent cutoff contained inferred mineral resources of 841 million tonnes grading 0.64% copper equivalent, containing 8.71 billion pounds of copper, 2.97 million ounces of gold and 333.70 million pounds of molybdenum(1). This mineral resource estimate does not incorporate or reflect the drilling results described above.

Additional information on Taca Taca, including the NI 43-101 technical report "Amended Taca Taca Technical Report" dated January 22, 2010 by Robert Sim, P.Geo., can be found on the Lumina Copper website (www.luminacopper.com) and on SEDAR (www.sedar.com).

Andrew Carstensen, CPG, Vice President, Exploration and the Qualified Person as defined by NI 43-101 for the Taca Taca project has reviewed and approved the content of this press release as it relates the Taca Taca project.

Lumina Copper also announces that Lyle E. Braaten and John H. Wright have been appointed as independent directors of Lumina Royalty.

(1) The copper equivalent cut off grade used in the calculation of the mineral resource estimate was determined using US$1.50/lb copper, US$600/oz gold and US$9.00/lb molybdenum and was not adjusted for metallurgical recoveries as these remain uncertain. The formula used in the calculation was as follows: CuEQ = Cu% + (Au g/t x 0.583) + (Mo% x 6).

LUMINA COPPER CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of a reorganization of the Company and the transfer of certain of the Company's passive assets to a company to be incorporated, the future price of gold, silver, copper and molybdenum, and the Company's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, 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: the risks of the Company not obtaining the required approvals to proceed with the proposed reorganization, tax consequences of the proposed reorganization, risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver, copper and molybdenum, 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 statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking 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 statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Contacts: Lumina Copper Corp. David Strang President & CEO + 604 646 1880 + 604 687 7041 (FAX) dstrang@luminacopper.com www.luminacopper.com