Luna Gold Corp. (fka LGCUF)

[b4atf]

News Release November 29, 2010

http://www.lunagold.com/s/NewsReleases.asp?ReportID=431043

Vancouver, November 29, 2010 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to provide an update on exploration activities at its Cachoeira gold project including results of extensive auger drilling and surface channel sampling programs at the Coruja and Arara targets located to the north of the Tucano deposit within the Cachoeira Shear Zone. A new map has been uploaded to the Luna Gold website at www.lunagold.com or to view map directly click here. Highlights include:

750 meter long mineralized quartz vein system averaging 1.5 meters wide defined at Coruja via surface channel sampling including:
•8.07 meters @ 3.17 g/t Au including 1.01 meters @ 17.01 g/t Au in channel OC-51 along vein
•5.07 meters @ 4.42 g/t Au and 10.83 meters @ 3.24 g/t Au including 4.04 meters @ 7.68 g/t Au in channel OC-52 along vein
•1.96 meters @ 11.64 g/t Au and 4.70 meters @ 5.40 g/t Au in channel OC-92 along vein
Surface oxide mineralization defined via auger drilling program at Coruja including:
•7.00 meters @ 4.77 g/t Au including 1.00 meter @ 23.00 g/t Au and 5.00 meters @ 1.68 g/t Au in auger hole TX0353
•7.00 meters @ 1.06 g/t Au in auger hole TX0368
•3.00 meters @ 2.25 g/t Au in auger hole TX0331
Surface oxide mineralization defined via auger drilling program at Arara including:
•4.50 meters @ 1.30 g/t Au in auger hole TX0271
•6.60 meters @ 21.83 g/t Au including 1.60 meter @ 88.28 g/t Au in auger hole TX0291
Luna's President & CEO, John Blake, comments, "These ongoing results continue to unlock upside potential and increased confidence in the Cachoeria deposit. These results combined with those previously drilled, are being incorporated into a maiden NI 43-101 mineral resource estimate to be released in December 2010 for the Cachoeira Gold Project.