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Re:   News Release - Thursday, October 09, 2008
      Lumina Copper Reports a new Sulphide Inferred Mineral Resource
      Estimate for the Taca Taca Copper/Molybdenum/Gold Deposit -- 841
      million tonnes grading 0.64% copper equivalent
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News Release: 08-02

Vancouver, British Columbia - Lumina Copper Corp. (the "Company") is
pleased to announce that it has received an independent, NI 43-101
compliant, sulphide mineral resource estimate for its 100% owned Taca
Taca copper/molybdenum/gold deposit located in Salta province,
Argentina.  At a 0.4% copper equivalent cut-off, the Inferred Mineral
Resources estimated at Taca Taca is 841 million tonnes grading 0.64%
copper equivalent, containing 8.71 billion pounds of copper, 2.97
million ounces of gold and 333.7 million pounds of molybdenum.

David Strang, President & CEO, said: "We are extremely pleased with
this new mineral resource estimate for Taca Taca which highlights the
project as one of the largest undeveloped copper/molybdenum/gold
deposits in South America.  Of particular interest are the deeper zone
of higher grade copper mineralization and central area of enriched
copper mineralization that is open to the north and at depth.  We
intend to initiate a comprehensive drill program during the first
quarter of 2009 to further evaluate these areas for resource
expansion."

Grades and tonnages from the new inferred resource estimate at various
copper equivalent cut-off grades are presented in the table below:

INFERRED SULPHIDE MINERAL RESOURCE - TACA TACA DEPOSIT
-------------------------------------------------------------------------
             Size                Grade                  Contained Metal
         --------  ------------------------------   ---------------------
CuEq(1)    Tonnes  CuEq(1)     Cu      Au      Mo      Cu      Au      Mo
Cut-Off  (Million)     (%)     (%)   (g/t)     (%)  (B lb)  (M oz)  (M lb)
-------------------------------------------------------------------------
0.3         1,303    0.54    0.39    0.09   0.016   11.20    3.77   459.6
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0.4           841    0.64    0.47    0.11   0.018    8.71    2.97   333.7
-------------------------------------------------------------------------
0.5           517    0.76    0.56    0.14   0.020    6.38    2.33   228.0
-------------------------------------------------------------------------
0.6           346    0.87    0.65    0.15   0.021    4.96    1.67   160.2
-------------------------------------------------------------------------
0.7           249    0.96    0.73    0.16   0.022    4.01    1.28   120.8
-------------------------------------------------------------------------
(1) Copper equivalent calculated using US$1.50/lb Cu, US$600/oz Au and
US$9.00/lb Mo and is not adjusted for metallurgical recoveries as these
remain uncertain. The formula used is as follows: CuEQ equals Cu% + (Au
g/t x 0.583) + (Mo% x 6).

The new mineral resource estimate was based upon a total of 29,503
metres in 167 drill holes drilled by previous operators and includes
eight holes (six platforms) drilled by Rio Tinto earlier this year.
Model grade estimates are generated with ordinary kriging using a
nominal block size measuring 25 meters x 25 meters x 15 meters
(vertical).  An updated NI 43-101 technical report detailing the new
mineral resource estimate will be completed and filed within 45 days.

A drill plan map showing the general location of the Taca Taca deposit
and drill holes is provided below.

View Map:
http://www.luminacopper.com/i/maps/2008-10-09_NRM.jpg

Additional information on Taca Taca can be found on the Company's
website (www.luminacopper.com) and on SEDAR (www.sedar.com), including
the 43-101 report "Amended and Re-stated Taca Taca Technical Report" by
Steven Blower, P.Geo. and Robert Sim, P.Geo; dated July 21, 2008.

Robert Sim, P.Geo., from Norwest Corporation and a Qualified Person as
defined by NI 43-101, is responsible for the mineral resource estimate.
 Mr. Leo Hathaway, P.Geo., the Qualified Person as defined by NI 43-101
for the Taca Taca project, has reviewed and approved the content of
this press release.


LUMINA COPPER CORP   

Signed:  "David Strang"

David Strang, President & CEO


For further information contact:
David Strang, President & CEO
dstrang@luminacopper.com
tel:  + 604 687 0407
fax:  + 604 687 7041

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, silver, 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,
silver, 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.

View News Release in PDF Format:
  http://lumina.pubco.net/i/pdf/2008-10-09_NR.pdf
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Copyright (c) 2008 LUMINA COPPER CORP. (LUM)  All rights reserved.  For
more information visit our website at http://lumina.pubco.net/ or send
mailto:info@luminacopper.com
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