Luna Gold intercepts 63.80 m of 2.54 g/t Au and 6.50 m of 15.82 g/t Au at the Aurizona Gold Project, Brazil



    VANCOUVER, Jan. 10 /CNW/ - 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-214 which intercepted 63.80 m of 2.54 g/t Au and ended in
mineralization.

    
    -   6.50 metres @ 15.82 g/t Au, including 3.00 metres @ 33.32 g/t
        Au, in hole BRAZD-217

    -   63.80 metres @ 2.54 g/t Au in hole BRAZD-214

    -   54.15 metres @ 1.17 g/t Au in hole BRAZD-213

    -   0.48 m @ 1159.00 g/t Au in hole BRAZD-218

    -   50.75 m @ 1.76 g/t Au in hole BRAZD-223
    

    Luna's CEO, Tim Searcy, comments, "The drilling program continues to be a
success as we encounter gold mineralization in the lateral extremities of the
deposit, and continue to confirm and expand the mineralization in the
weathered zones. However, it is the positive results from the bedrock of the
central portion of Piaba that underscore the potential for depth expansion at
Aurizona. Orogenic gold deposits, like Aurizona, typically have good vertical
depth continuity. Despite this fact, only 5% of the 300 diamond and percussion
holes drilled on the Aurizona project by past operators, have a vertical
extent greater than 130 meters. While the systematic testing of the bedrock
was not the intention of this drill program, we have modified the program to
include a hole to test the down dip extension of the mineralization
encountered in BRAZD 212 (see the press release dated November 21st, 2007)."
    Complete assay results have been received for a further 11 holes totaling
1,430 metres drilled within the 2.4 km long corridor of the Piaba deposit. All
the drill holes intersected gold mineralization and three holes ended in
mineralization. Significant mineralized intercepts are tabulated below and
some cross sections will follow shortly.

    
                                 TOTAL
    HOLE ID          AZI  DIP  DEPTH (m) FROM (m)   TO (m)  INT (m)  Au (g/t)
    -------------------------------------------------------------------------
    BRAZD-213(*)    350   70    172.15    118.00   172.15    54.15      1.17
    including                             125.00   130.00     5.00      3.11
    and                                   138.50   141.00     2.50      4.88

    BRAZD-214(*)    340   60    145.80     82.00   145.80    63.80      2.54
    including                             116.00   118.15     2.15     46.87

    BRAZD-215       160   60    123.65     62.00    87.45    25.45      1.03

    BRAZD-216       340   65    114.70     29.00    33.00     4.00      2.91
                                          101.00   108.00     7.00      1.09

    BRAZD-217       340   60    130.40     14.50    21.00     6.50     15.82
    including                              17.00    20.00     3.00     33.32
    and                                    40.00    47.00     7.00      1.12
                                           73.00    74.33     1.33      9.61
                                           86.00    89.00     3.00      1.75
                                          106.50   115.00     8.50      1.14
    BRAZD-218       160   50    120.10     58.00    58.90     0.90     22.33
                                           58.90    59.38     0.48   1159.00
                                           59.38    65.80     6.42      1.06
                                           69.00    75.50     6.50      2.09
                                           88.50    90.50     2.00      3.04

    BRAZD-219      160    50    116.00     85.20    92.75     7.55      2.44

    BRAZD-220      160    50    130.00     64.00    67.00     3.00      7.37

    BRAZD-221      340    55    120.60     64.70    71.00     6.30      0.93
                                           95.00   105.00    10.00      1.45

    BRAZD-222      168    60    104.40     62.65    69.75     7.10      2.25

    BRAZD-223(*)   348    50    151.45     37.60    40.00     2.40      3.51
                                           54.00    57.00     3.00      4.23
                                           89.25   140.00    50.75      1.76
                                          149.20   151.45     2.25      5.22

    (*) - 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.
    (To view the plan map showing the drill hole locations please click
on:(http://www.lunagold.com//i/pdf/Luna_Gold_Piaba_Deposit_Drill_Plan_Map_Jan_
10.pdf )To view assays for the full length of each hole please go to          
             www.lunagold.com )
    

    Eight of the drill holes were sited to test the eastern and western
extensions of the Piaba deposit to provide the Company with parameters to
enable definition of the economic boundaries to the open pit. Historic
drilling has indicated that mineralization in these areas is less well
developed than in the centre of Piaba. Despite this, several drill holes
returned significant gold intercepts including BRAZD-217 which returned 6.50 m
@ 15.82 g/t Au and BRAZD-218 which returned a bonanza grade intercept of 0.48
m @ 1159.00 g/t Au. These results will be followed-up with infill drilling at
a future date.
    BRAZD-213 was drilled in the east-centre portion of Piaba and returned
54.15 m @ 1.17 g/t Au. BRAZD-214 and 223 were drilled in the west-centre,
approximately 450 m west of where holes BRAZD-206, 207 and 212 were drilled.
BRAZD-214 was sited to twin and extend historic drill hole BRAZD-30 which
intersected 12.16 m @ 3.23 g/t from 76.08 m to 88.24 m and ended in
mineralization due to poor ground conditions. BRAZD-214 intersected 63.80 m @
2.54 g/t Au from 82.00 m depth including a high-grade fresh rock intercept of
2.15 m @ 46.87 g/t Au and ended in mineralization demonstrating the existence
of high-grade gold mineralization at depth in this portion of Piaba. BRAZD-223
was sited 60 m west of BRAZD-214 and intersected 50.75 m @ 1.76 g/t spanning
the contact between oxide and fresh rock mineralization and also ended in
high-grade gold mineralization (2.25 m @ 5.22 g/t Au from 149.20 to end of
hole).
    Luna's Exploration Manager, Dr. Titus Haggan states, "We are pleased to
report, with approximately two thirds of the results from Piaba returned, that
the program objectives, as stated in the press release of October 31, 2007,
have been met. The latest results have returned significant gold values from
the eastern and western extensions of Piaba. Broad zones of oxide
mineralization have also been intersected. The wide zone of fresh rock gold
mineralization intersected in BRAZD-212 (press release of November 21, 2007)
coupled with the new results highlight the potential for further fresh rock
mineralization in the central portion of the Piaba deposit."
    As part of the ongoing Feasibility Study at Aurizona, a NI 43-101 The
Piaba pre-feasibility study and NI 43-101 reserve and resource estimate is due
to commence on January 15th. Gemcom and SRK have been retained for this work
which will be conducted in association with Luna's technical team at Aurizona.
One drill is currently testing the Tatajuba target located 1.8 km along trend
to the west of Piaba. Results are pending for the remaining drill holes at
Piaba and will be reported as they become available.

    Correction

    The press release dated November 21st, 2007 indicated that the dip of
hole BRAZD 212 was 50 degrees, that is incorrect. Hole BRAZD 212 was drilled
at a dip of 65 degrees.

    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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