Lupaka GOLD Announces Closing of Shares FOR Debt Transaction

LUPAKA GOLD ANNOUNCES CLOSING OF SHARES FOR DEBT

TRANSACTION

VANCOUVER, BRITISH COLUMBIA, January 23, 2017 - Lupaka Gold Corp ("Lupaka Gold" or the

“Company") (TSXV:LPK, FRA:LQP) is pleased to announce that it has completed the shares for debt

(the “Shares For Debt”) transaction originally announced on January 12, 2017.

Upon receiving approval from the TSX Venture Exchange, the Company completed the transaction

and issued to the Creditors 300,000 Common Shares at a deemed price of $0.15 per share to settle

debt totalling $45,000. The Common Shares issued in connection with the Shares for Debt

transaction are subject to a statutory hold period of four months plus one day.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Darryl Jones

Chief Financial Officer

Lupaka Gold Corp., Investor Relations at +1 (604) 681-5900, e-mail: [email protected] or visit the

Company’s website at www.lupakagold.com.