Lumina Copper Announces Filing of Amended and Restated Financial Statements and MD&A

VANCOUVER, Dec. 9, 2011 - Lumina Copper Corp. (“Lumina Copper“) (TSX VENTURE: LCC) announces that it has today filed amended and restated unaudited interim consolidated financial statements and related MD&A for the period ended June 30, 2011.

During the preparation of Lumina Copper's consolidated financial statements for the year ended September 30, 2011, it was determined that income taxes relating to the spin-out of Lumina Royalty Corp. which were expensed through the consolidated statement of income, should have been recorded as a capital item through contributed surplus. As a result, Lumina Copper's net income for the three and nine months ended June 30, 2011 has increased by $2 million while contributed surplus decreased by the same amount. The income tax liability estimate was unchanged.

Accordingly, the unaudited interim consolidated financial statements for the period ended June 30, 2011 have been revised as set out below:

As previously reported Adjustment Restated

Consolidated Balance Sheet as at June 30, 2011 (unaudited):
Contributed surplus $ 12,636,831 $ (2,000,000 ) $ 10,636,831
Deficit accumulated during the development stage
$
(2,306,209 )
$
2,000,000
$
(306,209 )

Consolidated Statements of Income, Comprehensive Income and Deficit for the three months ended June 30, 2011 (unaudited):
Income taxes $ 2,000,000 $ (2,000,000 ) $ -
Net Income and Comprehensive Income for the Period
137,212
2,000,000
2,137,212

Earnings per share (basic and diluted) $ 0.005 $ 0.05 $ 0.055

Consolidated Statements of Income, Comprehensive Income and Deficit for the nine months ended June 30, 2011 (unaudited):
Income taxes $ 2,000,000 $ (2,000,000 ) $ -
Net Income and Comprehensive Income for the Period
1,156,957
2,000,000
3,156,957

Earnings per share (basic and diluted) $ 0.03 $ 0.055 $ 0.085


The amended unaudited interim consolidated financial statements and related MD&A are available on Lumina Copper's SEDAR profile at www.sedar.com.


LUMINA COPPER CORP.

David Strang, President & CEO



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Contact Information

Lumina Copper Corp.
David Strang, President & CEO
604 646 1880
604 687 7041 (FAX)
dstrang@luminacopper.com
www.luminacopper.com