Luna Gold Corp Intercepts 33.00 m of 2.46g/t Au from Surface and 5.00 m of 6.26 g/t Au at the Aurizona Go by 24hgold

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Monday, January 28, 2008
Luna Gold Intercepts 33.00 m of 2.46g/t Au from Surface and 5.00 m of 6.26 g/t Au at the Aurizona Gold Project, Brazil

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Vancouver, January 28, 2008 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce new assay results from the Company's 4,000 m drill program at Piaba, the main mineralized zone at Aurizona, including hole BRAZD-232 which intercepted 33.00 m of 2.46 g/t Au from surface.

• 33.00 metres @ 2.46 g/t Au, including 1.00 metre @ 53.26 g/t Au, in hole BRAZD-232

• 21.00 metres @ 2.33 g/t Au including 1.00 m @ 32.44 g/t Au and 14.00 m @ 2.61 g/t Au including 5.00 m @ 6.26 g/t Au in hole BRAZD-233

• 34.72 metres @ 1.04 g/t Au in hole BRAZD-224

• 22.00 metres @ 1.01 g/t Au in hole BRAZD-234

• 3.00 metres @ 6.00 g/t Au in hole BRAZD-235

Luna's CEO, Tim Searcy, comments, "Drill results from the current program have shown that contrary to past interpretations of the historic drilling, Piaba is open along strike to the west and at depth. These results are the last from Piaba that will be included in the upcoming reserve and resource estimate, due in early May. However, drilling continues at Aurizona, currently at the Tatajuba deposit. Ongoing resource and geologic modeling will be used to generate depth and strike extension drill targets at Piaba, for a drill program to commence at the completion of the Tatajuba drilling."

Complete assay results have been received for a further 12 holes totaling 1,422 metres drilled within the 2.4 km long corridor of the Piaba deposit. All the drill holes intersected gold mineralization. Significant mineralized intercepts are tabulated below.

                            TOTAL                                    Au
  HOLE ID    AZI    DIP  DEPTH (m)  FROM (m)    TO (m)  INT (m)    (g/t)
------------------------------------------------------------------------
BRAZD-224    168     50    115.15     10.28     45.00    34.72     1.04
BRAZD-225    168     50     70.45      7.75     19.00    11.25     1.02
                                      25.00     35.00    10.00     1.37
BRAZD-226    348     60     130.90    56.00     57.00     1.00     8.27
BRAZD-227    348     75     120.30     0.00      4.00     4.00     1.26
                                      80.00     83.00     3.00     1.76
                                      96.00    105.00     9.00     1.44
BRAZD-228    338     50     100.40    34.00     36.20     2.20     2.50
                                      48.00     56.00     8.00     1.11
                                      73.00    100.00    27.00     1.08
BRAZD-229    338     50     100.00     1.45      5.00     3.55     3.61
                                      79.00     86.00     7.00     1.21
BRAZD-230    340     50     105.60    98.00    101.00     3.00     3.22
BRAZD-231    340     60     110.15   103.00    106.00     3.00     1.16
BRAZD-232    168     60      96.30     0.00     33.00    33.00     2.46
including                             16.00     17.00     1.00    53.26
BRAZD-233    168     50     201.50     0.00      6.00     6.00     1.83
                                      44.00     65.00    21.00     2.33
including                             44.00     45.00     1.00    32.44
                                      81.80     96.00    14.20     1.03
                                     100.65    107.30     6.65     1.16
                                     116.00    130.00    14.00     2.61
including                            125.00    130.00     5.00     6.26
                                     174.65    176.50     1.85     9.94
BRAZD-234    168     60     125.40    43.00     65.00    22.00     1.01
                                      72.00     86.00    14.00     1.10
BRAZD-235    168     50     145.40    69.00     72.00     3.00     6.00
                                      84.00     94.00    10.00     1.39
   Table 1. Mineralized intercepts from initial drill holes, Piaba
       deposit. Width in the table represents core width of the
        intersections, and does not represent the true width.
 (To view the plan map showing the drill hole locations please click
   on: http://www.lunagold.com/i/pdf/Original.pdf To view assays
   for the full length of each hole please go to www.lunagold.com)

BRAZD-228 to BRAZD-231 were part of the open pit definition drilling program sited to test the western extension of the Piaba deposit where historic drilling has indicated that mineralization is less well developed than in the centre of Piaba. However, in line with Luna drill results from this area reported on January 10, new drill hole BRAZD-228 returned a significant gold intercept of 27.00 m @ 1.08 g/t Au and ended in mineralization. These results indicate the potential for gold mineralization in this area and will be followed-up with infill drilling at a future date.

BRAZD-224 to BRAZD-227 were shallow holes drilled in the west-centre portion of Piaba. BRAZD-226 and 227 were sited to the south and outside of the main zone, in order to constrain the mineralized envelope in this area. BRAZD-224 and 225 were drilled in the oxide zone up-dip of historic drill holes to infill areas of inferred resources and returned drill results consistent with expectations for this area including BRAZD-224 which returned 34.72 m @ 1.04 g/t Au from 10.28 m core depth.

BRAZD-232 to BRAZD-235 were drilled in the east-centre portion of Piaba to constrain the eastern limit of the central area. BRAZD-232 returned 33.00 m @ 2.46 g/t Au from surface. BRAZD-233 returned several wide mineralized zones including 21.00 m @ 2.33 g/t Au and 14.00 m @ 2.61 g/t Au. Both drill holes also intersected narrow intervals of high grade mineralization consistent with recent drill results.

Luna's Exploration Manager, Dr. Titus Haggan states "The wide zone of gold mineralization intersected in BRAZD-228, located in the extreme western portion of Piaba is the best drill result from this outboard area. BRAZD-232 returned a wide zone of gold mineralization from surface in the area where open pit mining is programmed to commence in 2009. BRAZD-233 intersected several wide mineralized zones in the upper central portion of the deposit, which will facilitate resource modeling in this area. BRAZD-233 also intersected a couple of high grade seams at depth in the bedrock. These results continue to highlight the depth potential at Aurizona."

Quality Assurance/Quality Control

Luna operates a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and sawn in half. One half of the HTW (71 mm diameter) core is maintained for future reference and one half of the core is sent for analysis. Samples are collected in approximately 1 meter intervals or less when a mineralized zone is encountered. All core and samples are stored in secure locked areas. Samples are transported from the Aurizona project to the ACME Lab sample preparation facility in Maraba, Para accompanied by Luna personnel. Samples are assayed at ACME Labs in Vancouver, Canada using a 30 gram fire assay with ICP-MS 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.

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.

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. 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. Luna Gold does not assume the obligation to update any forward-looking statement.

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