Luna Gold intercepts 46.80 m OF 8.94 g/t Au at the Aurizona Gold Project, Brazil



    VANCOUVER, Nov. 21 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the
"Company") is pleased to announce new assay results from the Company's ongoing
3,750 m drill program at Aurizona, including hole BRAZD-212 which intercepted
46.80 m of 8.94 g/t Au. BRAZD-212 ended in mineralization due to ground
conditions.

    
    -   43.35 metres @ 1.57 g/t Au in hole BRAZD-209

    -   25.75 metres @ 1.10  g/t Au in hole in hole BRAZD-210

    -   46.80 metres @ 8.94 g/t Au; including 1.10 metres @
        85.39 g/t Au and 1 meter @ 171.40 g/t in hole BRAZD-212
    

    Luna's CEO, Tim Searcy comments, "The high grade, fresh rock intercept of
hole 212 highlights the significant potential for resource expansion at depth
on the Aurizona project. I am very pleased that the program is succeeding on
its main goal of infilling and expanding the historic saprolite resource, as
evidenced by the results from holes 209 and 210, but the fresh rock
mineralization intercepted in hole 212 and the tail end of hole 206, reported
in the October 31st release, are reinforcing the potential that the historic
drilling at Aurizona only hinted at."
    Complete assay results have been received for 5 holes totaling
737 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 on 5 north-south sections spaced approximately 50 m apart on the
eastern portion of the Piaba zone. BRAZD-212 was drilled 55 m west of
BRAZD-206 reported in Luna's press release of October 31st, which encountered
5.5m of 9.69 g/t between 77 m and 82.5 m, and ended in mineralization.

    
    HOLE ID         AZI    DIP  FROM (m)  TO (m)  INT (m)  Au GRADE (g/t)
    ---------------------------------------------------------------------
    BRAZD-208(*)    348     70    136.1   142.0      5.9            2.86

    BRAZD-209       168     70     53.2    96.6     43.4            1.57

    BRAZD-210(xx)   348     55    124.4   150.2     25.8            1.10

    BRAZD-211       350     50           No significant Intercepts

    BRAZD-212(*)    168     50     17.0    26.1      9.1            1.53
                                   48.1    65.1     17.0            1.04
                                   91.0    95.0      4.0            2.31
                                  129.0   175.8     46.8            8.94
      including                   135.0   141.0      6.0           10.61
      and                         163.0   164.1      1.1           85.39
      and                         166.4   167.4      1.0          171.40

    (*) - ended in mineralization due to ground conditions
    (xx) - ended in mineralization

    Table1. 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.
    

    BRAZD-208 and 209 were inclined at -70 degrees. BRAZD-210 was inclined at
-55 degrees and 211 and 212 were drilled at -50 degrees. BRAZD-208 began to
intersect mineralization at base of hole though had to be terminated due to
ground conditions. BRAZD-209 was a scissors hole to historic drill hole
BRAZD-104 and intersected a wide zone of oxide gold mineralization (43.35 m @
1.57 g/t Au) from 53 m core depth extending the depth and width of gold
mineralization in this area. BRAZD-210 was a sited to step-back from historic
hole BRAZD-032 and bottomed in mineralization intersecting 25.75 m @ 1.10 g/t
Au from 124 m depth to end of hole. This gold intersect extends the gold
mineralization for over 50 m vertically from hole BRAZD-032. BRAZD-212
intersected several mineralized intervals, the best of which is hosted in
fresh rock and ran 46.80 m @ 8.94 g/t Au from 129 m to end of hole including
several bonanza-grade gold intercepts (1.10 metres @ 85.39 g/t Au and 1 meter
@ 171.40 g/t).
    Titus Haggan, Luna's Exploration Manager at Aurizona, comments, "The gold
grades intersected in BRAZD-212 surpass all historic drill intersections at
Piaba to date and demonstrate the existence of significant widths of
high-grade gold mineralization in fresh rock beneath the saprolite
mineralization. The current drilling program has been designed to confirm and
expand the saprolite (oxidized) resource at the Aurizona gold deposit, to
provide data to complete a NI 43-101 compliant reserve and resource estimate,
and to test the fresh rock potential at depth."
    Dr. Haggan continues, "The highest gold values in these drill holes are
associated with quartz veining and strong hydrothermal alteration of the
intrusive granophyre host rocks. Core logging reveals several generations of
strongly deformed cross-cutting quartz veins and intense hydrothermal
alteration overprinting the regional metamorphic fabric. A particularly
important aspect of the new drilling results is that they have demonstrated
good continuity and significant widths of mineralization both vertically and
along strike in both saprolite and fresh rock within the deposit."
    Drilling at Aurizona is continuing. A total of 3,890 m of diamond
drilling has been completed to date, with all core holes distributed within a
2.4 km corridor that represents the known strike extent of the Piaba zone. The
core program has been extended to 4,000 m and will finish on schedule in late
November.

    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 No.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

    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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For further information: Investor Relations at (604) 689-7317 or toll
free at 1-866-689-7317

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