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Monday, July 27, 2009
Luna Gold Names Dr. J. David Lowell And Geoff Loudon As Advisors To The Company
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Vancouver, July 27th, 2009 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce that Dr. J. David Lowell and Mr. Geoff Loudon have agreed to join the Company as advisors.
Dr. Lowell, one of the world's most successful exploration geologists with a career of over 50 years, has been involved in the discovery of over 12 gold or copper deposits and participated in the development of seven large mines. Dr. Lowell received a BS degree in mining and geological engineering from the University of Arizona in 1949, and an MS in geology from Stanford University in 1957. He received also a Professional Engineer degree from the University of Arizona in 1959, and honorary doctorate degrees from the Universidad Nacional de San Marcos in Peru in 1998 and the University of Arizona in 2000.
He has published more than 50 articles, one of which, co-authored with John Guilbert, defines the Lowell-Guilbert Porphyry Copper Model. This work has become a standard reference for exploration geologists worldwide. He was elected to the National Academy of Engineering in 1999, has received the SME Jackling and Robert Dreyer Awards, the AIME Earl McConnell Award, the SEG Silver Medal, Penrose Medal, and the MMSA Gold Medal. He was inducted into the American Mining Hall of Fame and was the Northern Miner's 1999 "Mining Man of the Year".
Dr. Lowell is manager of Lowell Mineral Exploration, LLC, a private mineral exploration company that he founded in 1961. He was a co-founder of Arequipa Resources Ltd., which was acquired by Barrick Gold Corp. and co-founder of Peru Copper Inc. that was acquired by Aluminum Corporation of China (Chinalco). He managed contract exploration projects that discovered seven large copper deposits including Kalamazoo, Escondida and Zaldivar. He is currently President and CEO of CIC Resources Inc., a private company, with offices in Vancouver, Arizona and Peru.
Mr. Geoff Loudon has over 40 years experience as a mining professional. Mr. Loudon's early career was as a geologist with Placer Dome in porphyry copper and molybdenum mines in Canada and the Philippines. He is credited with discovering the San Antonio porphyry copper deposit in the Philippines. He also worked on early gold projects that led to the Porgera and Misima mines in Papua New Guinea. Following a change of career, Mr. Loudon spent 10 years in mining finance with the Kleinwort Benson group. Mr. Loudon then turned his focus back to mineral exploration and development and became the founder, Chief Executive Officer and Chairman of Niugini Mining Ltd., an explorer and developer of gold and copper mines in Australia, Papua New Guinea and Chile. Niugini Mining Ltd. was responsible for the discovery of the Lihir gold deposit in Papua New Guinea. Mr. Loudon is currently a director of Lihir Gold Limited, which is listed on the TSX, NASDAQ and the Australian Stock Exchanges. Mr. Loudon is Chairman of L&M Mining, a New Zealand focused energy company listed on the Australian and New Zealand stock exchanges, and Chairman of Nautilus Minerals Inc. listed on TSX and AIM.
Luna's CEO, Jim Bahan, comments, "We are extremely pleased to have two such distinguished mining professionals join the advisory board. Geoff and David are invaluable supporters of the company as we transition to a producing company and they will be welcome contributors to our future growth plans".
Option Grant
The Company also announces that, subject to any required regulatory approval, it has granted to directors, officers, employees and consultants options to purchase an aggregate of 10,025,000 common shares of the Company at a price of Cdn.$0.42 per share, exercisable on or before July 24, 2014. The options will vest as determined by the Board in accordance with the Company's Stock Option Plan. Following the grant, the Company's total outstanding stock options will be equal to approximately 4.1% of the Company's shares outstanding.
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.
Jim Bahan -- CEO
Website: www.lunagold.com
For further information contact Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317.
Neither the 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.
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, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, 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 inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. 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. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. | |
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