Luna Gold Corp Intercepts 20.00 M Of 9.04 G/T Au Including 6.00 M Of 27.72 G/T Au At The Cachoeira Gold Project, Br by 24hgold

Keywords : Brazil | Gold |

Monday, September 08, 2008
Luna Gold Intercepts 20.00 M Of 9.04 G/T Au Including 6.00 M Of 27.72 G/T Au At The Cachoeira Gold Project, Brazil

Vancouver, September 8, 2008 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company) is pleased to announce new assay results from the Company's ongoing drill program at the Cachoeira gold project including hole LCD-017 which intercepted 20.00 meters of 9.04 g/t Au, including 6.00 m @ 27.72 g/t Au. Significant mineralized intercepts are highlighted below.

CORUJA TARGET

20.00 meters @ 9.04 g/t Au including 6.00 meters @ 27.72 g/t Au in hole LCD-017

TUCANO TARGET

3.40 meters @ 7.01 g/t Au and 9.00 m @ 5.96 g/t Au including 3.00 m @ 15.40 g/t Au in hole LCD-018
3.84 meters @ 4.22 g/t Au and 22.09 meters @ 1.33 g/t Au in hole LCD-022
6.50 meters @ 4.38 g/t Au and 11.90 m @ 3.45 g/t Au including 2.25 m @ 15.99 g/t Au in hole LCD-025

Luna's CEO, Tim Searcy comments, "This round of drilling has succeeded in extending mineralization at Tucano along strike to the south and down dip. The mineralization at Tucano exhibits good strike and dip continuity; it remains open to the north, south and down dip. Tucano hosts a number of other zones that Luna has yet to test for extensions. These targets remain for follow-up drilling. These results, combined with previous results from the Arara zone (please see the press release dated 26 June 2008), demonstrate that Cachoeira hosts high grade gold mineralization along 4 km of strike."

The mineralization at Tucano has two forms: 1) low-sulfide, free gold associated with quartz veins and 2) gold associated with sulfides (oxidized and fresh) in quartz veins. Both types of mineralization typically have a close spatial relationship with felsic dykes. The host rocks are Proterozoic volcanic and sedimentary units of the Chega Tudo formation, with the volcanic units appearing to be the most favourable host rocks. The higher grade intervals are more commonly associated with the low-sulfide, free gold, quartz veins.

Complete assay results have been received for 15 holes totaling 3008 metres. Significant mineralized intercepts are tabulated below (assays for the full length of each hole will be available on the Company's website shortly, and will be updated as new information is released). The holes were drilled at the Arara, Coruja and Tucano target areas covering four km of the mineralized gold trend at Cachoeira. A project map and updated plan maps for all targets can be viewed on the Company's website.

HOLE ID	TARGET	AZI	DIP	DEPTH (m)	FROM (m)	TO (m)	INT (m)	AU (g/t)

LCD-010	Arara	270	-55	218.50	no significant intercepts

LCD-011	Arara	270	-55	233.60	173.37	177.00	3.63	1.16

LCD-012	Arara	270	-55	160.70	144.00	146.00	2.00	4.21

LCD-013	Coruja	090	-50	85.00	52.00	58.00	6.00	1.93

LCD-014	Coruja	090	-55	189.00	no significant intercepts

LCD-016	Coruja	090	-55	160.00	no significant intercepts

LCD-017	Coruja	090	-50	110.00	33.00	53.00	20.00	9.04
including					47.00	53.00	6.00	27.72

LCD-019	Coruja	090	-55	156.00	no significant intercepts

LCD-020	Coruja	090	-55	94.50	no significant intercepts

LCD-021	Coruja	090	-55	145.00	no significant intercepts

LCD-015	Tucano	075	-50	250.00	56.00	60.00	4.00	1.42
					78.20	86.00	7.80	1.47
					176.00	183.00	7.00	1.17

LCD-018	Tucano	075	-50	350.20	0.00	10.00	10.00	1.14
					92.60	96.00	3.40	7.01
					154.00	156.00	2.00	4.52
					197.00	205.00	8.00	1.23
					224.00	233.00	9.00	5.96
including					229.00	232.00	3.00	15.40

LCD-022	Tucano	075	-60	252.00	61.00	63.00	2.00	2.04
					68.72	72.56	3.84	4.22
					80.00	82.00	2.00	3.57
					147.18	153.00	5.82	1.61
					194.91	217.00	22.09	1.33

LCD-023	Tucano	075	-50	303.80	117.32	132.00	14.68	1.08
					136.73	147.00	10.27	2.93
including					136.73	138.00	1.27	17.90
					257.00	267.00	10.00	2.04
including					258.00	261.00	3.00	5.14

LCD-025	Tucano	120	-65	300.00	77.00	79.00	2.00	2.96
					108.50	115.00	6.50	4.38
including					113.00	114.00	1.00	23.50
					198.00	201.32	3.32	2.58
					219.00	222.00	3.00	2.09
					227.50	239.40	11.90	3.45
including					227.50	229.75	2.25	15.99
					256.86	261.00	4.14	1.32

Table1. Mineralized intercepts from the Cachoeira project. Width in the table represents core width of the intersections, and does not represent the true width.

Titus Haggan, Luna's Exploration Manager comments, "Drilling at Coruja is now complete and one rig is currently drilling at Tucano where a further two holes will be drilled before program completion. The drill program was designed to open-up the strike and plunge extent of high-grade mineralized zones defined by historic drilling. The objective of this drill program in testing and extending the previous zones of gold mineralization at Cachoeira has been met. Luna's drill results identify the Tucano and Coruja targets as the priority for future resource definition and exploration drill programs".

The drill holes reported here confirm the existence of high-grade gold mineralization at the Coruja and Tucano targets. Drilling at Coruja identified the northern portion of this target as having best potential. LCD-017 intersected a very high-grade intercept of 20.00 meters of 9.04 g/t Au including 6.00 m @ 27.72 g/t Au associated with visible gold in oxidized quartz veins. The orientation of this mineralized zone is not yet understood. LCD-013 was located 80 meters to the north of LCD-017 and intersected 6.00 m @ 1.93 g/t Au.

Drilling at Tucano focused on the southern part of the target and consisted of several deep holes designed to test for down-dip and plunge extensions to the near-surface high-grade mineralized structures defined by previous operators. LCD-018 and LCD-023 were deep step-back holes drilled beneath the limits of historic drilling in the western area. LCD-018 intersected several high-grade zones including 3.40 m @ 7.01 g/t Au and 9.00 m @ 5.96 g/t Au including 3.00 m @ 15.40 g/t Au. LCD-023 intersected 10.27 m @ 2.93 g/t Au and 10.00 m @ 2.04 g/t. LCD-015 and LCD-022 were sited to test the eastern mineralized trend at Tucano and were also successful in intersecting gold mineralization. Both holes intersected several mineralized zones including 3.84 m @ 4.22 g/t Au and 22.09 m @ 1.33 g/t Au in LCD-022. LCD-025 was drilled oblique to the main mineralized trend to test for a southeast plunge to the mineralization at Tucano and successfully intersected several high-grade mineralized zones including 6.50 m @ 4.38 g/t Au and 11.90 m @ 3.45 g/t Au including 2.25 m @ 15.99 g/t Au. Preliminary geologic modeling of these data indicates that ore zones display good continuity between the drill holes. Gold mineralization is associated with a late quartz vein phase associated with an intrusive dyke suite. The high gold grades intersected are also supported by recent high-grade gold assays (86.70 g/t Au, 53.10 g/t Au and 26.60 g/t Au) returned from underground rock samples collected by Luna geologists at Tucano.

About Luna Gold Corp
Luna is a mining exploration company focused on the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects in northeastern Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

Tim Searcy, P. Geo. -- 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Quality Assurance/Quality Control
Luna operates a rigorous QA/QC protocol on all aspects of sampling and analytical procedure at Cachoeira. Drill core is checked, logged, marked for sampling and sawn in half. One half of the HQ (71 mm diameter) core is maintained for future reference and one half of the core is sent for analysis. Samples are collected in approximately 2 meter intervals reduced to 1 meter or less when a mineralized zone is encountered. All core and samples are stored in secure locked areas. Samples are transported from the Cachoeira project to the ALS Chemex sample preparation facility in Belo Horizonte, Minas Gerais accompanied by Luna personnel. Samples are assayed at ALS Chemex Labs in Belo Horizonte using a 50 gram fire assay with AAS finish. Each sample batch contains 10% of randomly inserted internal control samples consisting of certified analytical standards, blanks (barren rock) and duplicates. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.

Titus Haggan Ph.D., EurGeol Certified Professional Geologist #746, Luna's Brazil Exploration Manager is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press 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.

Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Luna Gold Corp.'s periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially.

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