Luna Gold Corp. (fka LGCUF)

[b4atf]

http://www.lunagold.com/s/NewsReleases.asp?ReportID=417464

September 07, 2010
Luna Gold Clarifies Press Release on Its Updated NI 43-101 Technical Report for Aurizona

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Vancouver, September 7, 2010 -- Luna Gold Corp. (TSXV-LGC). Further to its September 3, 2010 press release with respect to its updated NI 43-101 compliant technical report (the "Report") for its 100% owned Aurizona Gold Project ("Aurizona") Luna Gold Corp. ("Luna" or the "Company") wishes to provide additional information to clarify its earlier press release. The Report was completed by SRK Consulting (U.S.) Inc. ("SRK") and up-dates the mineral resources (outlined in our September 3, 2010 press release) and mineral reserves of the Piaba Gold deposit. Mineral reserves are based on a culmination of pit optimization, pit design and associated mine economics and are corrected for site (July 13, 2010) topography and stockpile survey. Only measured and indicated resources were used to estimate proven and probable reserves within the pit limits. Inferred material is treated as waste with zero grade.

Summary of Proven and Probable Reserves for Piaba (As of July 13, 2010)

kt
Au g/t
Au Ounces

Proven
1,418
1.46
67,000

Probable
15,749
1.36
664,000

Proven and Probable
17,167
1.36
731,000


Notes:
(1) Proven and Probable reserves include inventory stockpiles.
(2) SRK is not aware of any environmental, permitting, legal, title, taxation, political or socioeconomic factors which may materially affect the stated reserves. For the additional information with respect to the assumptions and parameters relating to the above reserve estimates the reader should refer to the Report.

The September 3, 2010 press release summarizes the economic analysis of the Report required by Item 25 of Form 43-101F1 for a development property. For clarification, the economic analysis is based on the mineral reserves only.

About Luna Gold Corp

Luna is a gold mining and exploration company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is currently commissioning its Aurizona gold mine in Maranhão, Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

Jim Bahan-- President and CEO

Website: www.lunagold.com
For further information contact Investor Relations at [phone] or toll free at 1-866-689-7317.