VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2011) - Lumina Copper Corp. ("Lumina Copper") (News - Market indicators) is pleased to announce that it has executed a definitive arrangement agreement whereby the business of Lumina Copper will be reorganized into two companies, Lumina Copper and Lumina Royalty Corp. ("Lumina Royalty") by way of a plan of arrangement under the Business Corporations Act (British Columbia). The details of the reorganization are set out in Lumina Copper's news release dated March 24, 2011, which is available on Lumina Copper's website at www.luminacopper.com and on SEDAR.

Lumina Copper has also received approval from the Supreme Court of British Columbia to call a shareholder meeting to approve the transaction. The meeting will be held on June 7, 2011 at 2:00 p.m. at the Metropolitan Hotel, 645 Howe Street, Vancouver, British Columbia. An information circular containing details on the transaction is expected to be mailed shortly.

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 future price of gold, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Lumina Copper'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 Lumina Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: 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, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Lumina Copper's required securities filings on SEDAR. Although Lumina Copper 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. Lumina Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.