Luna Gold Corp. (fka LGCUF)

[b4atf]

February 16, 2011
Luna Gold Intersects 81.50 Meters @ 1.18 G/T Au Including 2.04 Meters @ 9.15 G/T Au and 5.10 Meters @ 3.15 G/T Au in Boa Esperança Trenches, Aurizona



Vancouver, February 16, 2011 -- Luna Gold Corp. (TSXV-LGC) ("Luna Gold" or the "Company") is pleased to announce positive trenching results from the Boa Esperança near mine exploration target, located 1 kilometer southeast of the Piaba deposit in the Aurizona Main project area. Plan maps showing the location of the Boa Esperança target and the individual trench results have been uploaded to the Luna Gold website at www.lunagold.com. Highlights include:

•81.50 meters @ 1.18 g/t Au including 2.01 meters @ 7.61 g/t Au, 2.04 meters @ 9.15 g/t Au and 5.10 meters @ 3.15 in trench BE-TR-000
•65.82 meters @ 1.15 g/t Au including 2.00 meters @ 3.07 g/t Au and 3.90 meters @ 3.30 g/t Au in trench BE-TR-100E

Luna's President & CEO, John Blake, comments, "Luna Gold is pleased with the results at Boa Esperança which is now a drill ready target with high potential to increase the Aurizona resource. The results validate our exploration team's methodology and strategy to build on the Company's resource base. Boa Esperança is one of ten potential satellite deposits identified as high priority resource definition targets, located close to the Aurizona processing plant."

An increased resource will allow Aurizona to increase production, while maintaining a long mine life. An updated Aurizona resource statement is expected to be released in Q4 2011 following completion of the Aurizona resource definition program. A sixth drill rig has been mobilized to the project and is in operation, and a seventh rig is expected on site shortly.