Arbitration Award Update, November 2025
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Arbitration Award Update, November 2025
VANCOUVER, BRITISH COLUMBIA – November 20, 2025 – Lupaka Gold
Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) advises that
although the Company fully expects the Republic of Peru to honour their
obligations under the ICSID Convention and pay the recently issued Award, the
Company is taking immediate steps to collect the Award proceeds.
In this regard, the Company has engaged an investigative agency to identify
worldwide assets of the Republic of Peru as potential targets for seizure. Once
the identification process is complete, and if the Award payment has not yet been
received, the Company will pursue seizure of said assets through proceedings in
the most appropriate jurisdictions utilizing the ICSID Award until such time as the
full amount of the Award and attendant costs are realized.
Gordon Ellis (CEO) commented “While we are hopeful that Peru will pay the
amounts it owes shortly, we are preparing to follow through with asset seizures if
necessary. We are pleased to have the full support of Benchwalk, our funding
partner, as we move forward.”
Background summary: The Company initiated an arbitration claim against the
Republic of Peru in late 2019. The arbitration process was conducted through the
International Centre for Settlement of Investment Disputes (ICSID) and continued
until the ICSID Tribunal issued an Award in favour of the Company on June 30,
2025.
Subsequent to the Award date, Peru had 120 days in which to challenge the
Award via a request for an annulment. The 120-day period passed on October
28, 2025, with no annulment being requested. Having no further recourse, the
Republic of Peru must pay the Award amounts.
As of October 31, 2025, the amount payable was approximately US$67 million,
which will continue to grow at an ICSID designated, compounded interest rate of
UST plus 5% (which presently equates to ~9%).
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.
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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.sedarplus.ca or its website at
www.lupakagold.com