VANCOUVER - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce positive assay results from the first seven holes from its ongoing resource drill program at the Piaba gold deposit, Aurizona. An updated drill plan map has been uploaded to the Luna Gold website at www.lunagold.com or to view directly click here. Significant mineralized intercepts are highlighted below.

• 15.00 m @ 2.66 g/t Au including 4.00 m @ 7.49 g/t Au in BRAZD278
  
  
• 30.00 m @ 1.32 g/t Au including 1.00 m @ 7.37 g/t Au and 3.00 m @ 5.06 g/t Au in BRAZD279A
  
  
• 32.00 m @ 3.20 g/t Au including 1.00 m @ 60.60 g/t Au and 16.00 m @ 2.13 g/t Au including 4.00 m @ 6.57 g/t Au and 6.00 m @ 2.87 g/t Au in BRAZD282
  
  
• 5.00 m @ 4.45 g/t Au and 7.00 m @ 2.01 g/t Au including 1.00 m @ 9.74 g/t Au in BRAZD283

Luna's President & CEO, John Blake, comments, "Our drill results continue to be very encouraging and fully support the confidence we have that the overall Aurizona gold resource has potential to grow significantly as we continue to drill the Piaba deposit. The structurally controlled mineralization in these latest drill holes confirms our deposit model which is consistent with other gold deposits in the Guiana Shield."

The 2010 drill program commenced at the start of September and the Company currently has five rigs in operation. Drilling is currently focused on infilling over the 3 kilometer strike length of the Piaba deposit to increase measured and indicated resources. Holes are being drilled on 100 meter spaced sections to a maximum depth of -300 meters RL.

Complete assay results have been received for seven drill holes totaling approximately 2379 m drilled on three sections in the central portion of the Piaba deposit. For several holes core was not recovered from surface to accelerate drill production and reduce costs. All drill holes intersected gold mineralization and the deposit remains open at depth on all sections. Significant mineralized intercepts are tabulated below.

Table1. Mineralized drill intercepts from the 2010 Piaba deep drill program. Intervals are calculated as composites using a 0.30 g/t Au cut-off and maximum 2 meter internal waste. True widths to be established.

Luna's VP Exploration, Titus Haggan states, "This is a good start to the drill program. All holes intersected the deposit and demonstrate strong vertical continuity to the ore body. Gold mineralization is associated with quartz veining and strong hydrothermal alteration in the core of the deposit. Drilling is ongoing at Piaba and new results will be released as assays are received."

About Luna Gold Corp

Luna is a gold mining and exploration company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is currently commissioning its Aurizona gold mine in Maranhão, Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

John Blake - President and CEO

Website: www.lunagold.com