Luna Gold Corp. (fka LGCUF)

[b4atf]

LUNA GOLD DRILLS 32.00 M @ 3.20 G/T AU AND 15.00 M OF 2.66 G/T AU INCLUDING 4.00 M OF 7.49 G/T AU AT AURIZONA



Vancouver, December 14, 2010 – Luna Gold Corp. (TSXV-LGC) (“Luna” or the “Company”) is pleased to announce positive assay results from the first seven holes from its ongoing resource drill program at the Piaba gold deposit, Aurizona. An updated drill plan map has been uploaded to the Luna Gold website at www.lunagold.com or to view directly click here. Significant mineralized intercepts are highlighted below.


15.00 m @ 2.66 g/t Au including 4.00 m @ 7.49 g/t Au in BRAZD278
30.00 m @ 1.32 g/t Au including 1.00 m @ 7.37 g/t Au and 3.00 m @ 5.06 g/t Au in BRAZD279A
32.00 m @ 3.20 g/t Au including 1.00 m @ 60.60 g/t Au and 16.00 m @ 2.13 g/t Au including 4.00 m @ 6.57 g/t Au and 6.00 m @ 2.87 g/t Au in BRAZD282
5.00 m @ 4.45 g/t Au and 7.00 m @ 2.01 g/t Au including 1.00 m @ 9.74 g/t Au in BRAZD283

Luna’s President & CEO, John Blake, comments, “Our drill results continue to be very encouraging and fully support the confidence we have that the overall Aurizona gold resource has potential to grow significantly as we continue to drill the Piaba deposit. The structurally controlled mineralization in these latest drill holes confirms our deposit model which is consistent with other gold deposits in the Guiana Shield.”

The 2010 drill program commenced at the start of September and the Company currently has five rigs in operation. Drilling is currently focused on infilling over the 3 kilometer strike length of the Piaba deposit to increase measured and indicated resources. Holes are being drilled on 100 meter spaced sections to a maximum depth of -300 meters RL.

Complete assay results have been received for seven drill holes totaling approximately 2379 m drilled on three sections in the central portion of the Piaba deposit. For several holes core was not recovered from surface to accelerate drill production and reduce costs. All drill holes intersected gold mineralization and the deposit remains open at depth on all sections. Significant mineralized intercepts are tabulated below.