Luna Gold Corp Accelerates Expiry Date of Outstanding Share Purchase Warrants by 24hgold

News Release

Friday, October 30, 2009

Luna Gold Accelerates Expiry Date of Outstanding Share Purchase Warrants

Vancouver, October 30, 2009 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") announces that it is accelerating the expiry date of the private placement warrants which it issued on November 17, 2008 (the "Warrants") and are exercisable at a price of $0.25 per share. The original expiry date of these Warrants was November 17, 2010.

In accordance with the provisions of the Warrants, the Company may shorten the expiry date of the Warrants to a date which is 15 business days after the date that a press release is issued by the Company to the public confirming that the closing price of the Company's common shares on the TSX Venture Exchange was $0.40 or higher over a period of 15 consecutive trading days. The trigger for acceleration of the expiry date was met on Thursday, October 29, 2009.

Accordingly, pursuant to the terms of the Warrants, Luna hereby gives notice that the expiry date of the Warrants has been accelerated and that the Warrants and the holder's rights thereunder will expire at 4:30 p.m. (Vancouver time) on Monday, November 23, 2009, unless such Warrants are exercised by the holders prior to such date.

Should all of the subject 11,125,125 Warrants be exercised by the holders, Luna will receive proceeds of $2,781,281, which will be used for general working capital purposes.

The Warrants may be exercised by the holders by completing and executing the Exercise Form attached to the Warrant Certificates and by surrendering the Warrant Certificates and the Exercise Forms and any other required documentation to the Company at its Canadian head office located at Suite 1050, 625 Howe Street, Vancouver, BC, V6C 2T6 and remitting a certified cheque, bank draft or money order in lawful money of Canada payable to the order of the Company for the aggregate purchase price of the shares being subscribed for.

About Luna Gold Corp

Luna is a mineral exploration and development company engaged in the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects in Brazil. The Company is currently developing its Aurizona gold project in Maranh�o, 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 (604) 689-7317 or toll free at 1-866-689-7317.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Regulatory Footnotes

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the United States Securities Act of 1933 and applicable state securities laws or an exemption from such registration is available.

You can also view this News Release on our website at:
http://www.lunagold.com/s/NewsReleases.asp?ReportID=369732

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