Luna Gold Corp Secures Grinding Mills For The Aurizona Gold Project by 24hgold

Thursday, February 21, 2008
Luna Gold Secures Grinding Mills For The Aurizona Gold Project

Vancouver, February 21, 2008 - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce that it has concluded purchase agreements for one Aerofall 17'x 5' semi-autogenous (SAG) mill, two 9' x 12' Hardinge ball mills, and one 9' x 12' Hardinge rod mill for the Aurizona Gold Project. Certain strategic mill spares are being acquired also in the process.

The mills, purchased from shut-down operations in Canada, will be dismantled, thoroughly cleaned and refurbished in Canada, then shipped to Brazil. The refurbishment will include converting the rod mill to a ball mill.

Tim Searcy, Luna's CEO comments: "The Company has identified the long lead time items for the development of Aurizona and has set about to secure them in the second-hand market. There are some cost savings by going this route, but more importantly, there are very significant time savings with respect to current delivery times for similar new mills direct from factory."

The results from grinding simulations on various weathered and fresh rock ore blends from Piaba indicate that a single 16' x 5' SAG mill equipped with a 600 hp motor, together with a single 11.5' x 19' ball mill equipped with a 1350 hp motor, would process all the expected open pit ore mixtures at Piaba, at a nominal throughput of 250 t/h, at a grind size of 80% passing 105 microns. In the first 4 to 5 years of the operation -- when mining would be concentrated on the softer, more intensely weathered material -- the specific energy consumption for the mills is estimated to be as low as 4.8 kWh/t.

Luna's Aurizona project is fully permitted for production. The Company expects its feasibility study to be completed by this April. Subject to financing, the Company foresees a production facility at Aurizona, capable of processing 1.5 Mtpa, in operation by the end of Q1 2009.

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 north-eastern Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.
"Tim Searcy"
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.

Qualified Person
The technical disclosure in this press release has been reviewed by James Bahan, Fellow of the Institution of Materials, Minerals and Mining, Luna's Chief Operating Officer, and the Qualified Person as defined under National Instrument 43-101 responsible for the Aurizona Project's scientific and technical work.

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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