Lumina Receives Positive Results From Metallurgical Testing Program at Taca Taca-High Grade Copper and Saleable Molybdenum Concentrates Achievable

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2011) - Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company") is pleased to announce that it has received the results from the initial metallurgical testing program conducted on its 100% owned Taca Taca copper/gold/molybdenum project located in Salta Province, northern Argentina. The preliminary results indicate that a high grade copper concentrate and a saleable molybdenum concentrate can be produced from both supergene and primary mineralized material.

The results of the two tests are shown in the table below:







The test work, completed at C.H. Plenge & CIA. S.A. in Lima, Peru, was conducted on two composite samples each comprising approximately 60 kilograms of core material from three drill holes in the supergene and primary mineralized zones. The locked cycle flotation test was completed at a coarse grind of 80% passing 150 microns and regrind of 22 and 18 microns for the supergene and primary composites respectively. The molybdenum separation test was completed using an open circuit. The scope of the testing did not include optimizing gold or molybdenum recoveries or concentrate grades. In addition, the test work showed that arsenic levels in the copper concentrates produced from the supergene and primary samples were 0.023% As and 0.027% As respectively, significantly below the industry's penalty limits of between 0.2 and 0.5% As.

Based upon the results from this initial test work, the metallurgical testing program is being expanded to evaluate a larger and more representative sample from the deposit. The program will include optimizing recovery and concentrate grades for copper, molybdenum and gold, and variability testing for each ore type. The program is expected to be completed during the 4th quarter 2011.

The Taca Taca copper/gold/molybdenum project, comprising approximately 2,500 hectares, is located in the Puna region of north western Argentina in Salta Province, approximately 230 kilometres west of the provincial capital of Salta and 90 kilometres east of the world's largest copper mine, Escondida.

On October 9, 2008, the Company announced it had received an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the project that at a 0.4% copper equivalent cut-off contained inferred mineral resources of 841 million tonnes grading 0.64% copper equivalent, containing 8.71 billion pounds of copper, 2.97 million ounces of gold and 333.70 million pounds of molybdenum(1).

Additional information on Taca Taca, including the NI 43-101 technical report "Amended Taca Taca Technical Report" dated January 22, 2010 by Robert Sim, P.Geo., can be found on the Company's website (www.luminacopper.com) and on SEDAR (www.sedar.com).

Marshall Koval, P.G., Vice President, Corporate Development and the Qualified Person as defined by NI 43-101 for the engineering studies on the Taca Taca project has reviewed and approved the content of this press release.

(1) The copper equivalent cut off grade used in the calculation of the mineral resource estimate was determined using US$1.50 / lb copper, US$600 / oz gold and US$6.00 / lb molybdenum and was not adjusted for metallurgical recoveries as these remain uncertain. The formula used in the calculation was as follows: CuEQ = Cu% + (Au g/t x 0.583) + (Mo% x 6).

LUMINA COPPER CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Lumina Copper's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lumina Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, including without limitation Taca Taca, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Lumina Copper's required securities filings on SEDAR. Although Lumina Copper has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Lumina Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

For more information, please contact
Lumina Copper Corp.
David Strang
President & CEO
+604 646 1880

+604 687 7041 (FAX)
dstrang@luminacopper.com
www.luminacopper.com

For more information on Mining in Argentina, active companies, projects and operating mines, statistics and much more, please visit our website: http://www.argentinamining.com/