Arbitration Award Update
Arbitration Award Update
VANCOUVER, BRITISH COLUMBIA – October 30, 2025 – Lupaka Gold Corp.
("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP).
Further to the Company’s news release of July 2, 2025, the following updates the
status of the Award issued to the Company by the International Centre for
Settlement of Investment Disputes (“ICSID”) on June 30, 2025.
ICSID Awards are final and binding on the parties and are subject to the limited
post-award remedies provided for in the ICSID Convention (“Convention”), which
is a treaty ratified by 158 Contracting States that includes Canada and Peru.
Under the Convention, the Republic of Peru, the defendant, has 120 days from
the date of the Award to request an annulment. That 120-day period expired on
October 28, 2025, without such a request being filed. Accordingly, with no other
remedies being available to Peru, the Company has issued to the Government of
Peru a request for immediate payment of all amounts owed under the Award.
As of this date, the total amount of the Award is approximately US$67 million.
Note that, per the Award, interest on this total compounds annually at
approximately 9% (UST+5%).
Historically, Peru has reliably paid its obligations incurred from such actions as
arbitration awards.
In the event that Peru does not pay the Award on a timely basis, the Company
has various avenues of recourse, including the seizure of worldwide assets of the
Republic of Peru.
Gordon Ellis (CEO) commented “We look forward to a quick and amicable
resolution, and we are in continuing discussions with our legal counsel as to our
next steps and how best to proceed. It is important to note that the first payments
to be made subsequent to the receipt of any Award proceeds will go to our
funding partner, Benchwalk LP. We will keep our shareholders informed as we
progress.”
For ongoing updates and more detail with respect to the Arbitration Award,
please refer to the Company’s website
(www.lupakagold.com/projects/arbitration).
For background on the basis for the Claim, please refer to the Company’s
previous news releases, also available on the Company’s website
(www.lupakagold.com/news).
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). Both firms continue to be involved until the Award
proceeds are received.
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 company focused on creating shareholder value
through 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.
Tel: (604) 985-3147
or visit the Company’s profile at www.sedar plus.ca or its website at
www.lupakagold.com