VANCOUVER - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the 'Company' or 'Luminex') is pleased to announce it has received positive results from the Preliminary Economic Assessment, prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, on a portion of its 90%-owned Condor Project comprised of the Los Cuyes, Soledad, Enma and Camp deposits, located in Zamora Chinchipe province.

The work that was completed as the basis for the PEA was managed by MTB Enterprises Inc. ('MTB') and represents the first economic study on Condor North.

Marshall Koval, CEO, commented: 'This next step for Condor North validates the work that has been completed since the discovery of the Camp deposit. The PEA demonstrates that Condor North's multiple deposits could support a large-scale, profitable mining operation in one of the best mining districts in Ecuador. Our team believes that future drilling at Nayumbi and Prometedor will continue to add value to the Condor Project.'

Preliminary Economic Assessment Summary

The PEA was initiated in early 2021 and was produced by a team of independent consultants that possess extensive expertise in their respective fields. Further details on the contributors can be found in the Qualified Persons section of this news release.

All amounts are in United States dollars unless otherwise specified. Base case economics were calculated using a gold price of $1,600 per ounce and a silver price of $21.00 per ounce. The effective date of the PEA is July 28, 2021 and a technical report for the Project including the PEA will be filed on the System for Electronic Document Analysis and Retrieval within 45 days of this news release.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR,OTCQX:LUMIF) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex's inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American respectively.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future drilling and advancement plans at the Project; the mined and processed material estimates for Condor North; the internal rate of return of Condor North; the annual production of Condor North; the net present value of Condor North; the life of mine of Condor North; the capital costs, operating costs and other costs and payments estimated for Condor North and the proposed infrastructure for Condor North and the Project (including how, when, where and by whom such infrastructure will be constructed or developed); projected metallurgical recoveries; the proposed level of employment at Condor North; whether the Company will move Condor North to a Pre-Feasibility stage; the timing for filing a technical report for the Project which includes the PEA; that the majority of inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'will' or 'projected' or variations of those words or statements that certain actions, events or results 'will', 'could', 'are proposed to', 'are planned to', 'are expected to' or 'are anticipated to' be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact:

Scott Hicks

Tel: +1 604 646 1899

Email: info@luminexresources.com

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