Vancouver, March 15, 2011 -- Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce positive assay results from eight holes from its ongoing resource drill program at the Piaba gold deposit, Aurizona. An updated drill plan map and cross sections have been uploaded to the Luna Gold website at www.lunagold.com or to view directly click below. Significant mineralized intercepts are highlighted below:


19.00 m @ 1.45 g/t Au including 2.00 m @ 5.99 g/t Au and 1.00 m @ 6.44 g/t Au in BRAZD285
15.00 m @ 1.46 g/t Au including 1.00 m @ 4.20 g/t Au in BRAZD286
9.00 m @ 2.23 g/t Au including 1.00 m @ 10.65 g/t Au and 2.00 m @ 8.85 g/t Au in BRAZD287
2.00 m @ 130.45 g/t Au and 6.00 m @ 1.67 g/t Au including 2.00 m @ 3.83 g/t Au in BRAZD288

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Aurizona Drill Plan Map Feb. 2010

Luna's President & CEO, John Blake, comments, "We are pleased with the level of consistency in our drill results that demonstrate the strike and depth continuity of the ore body. Consistent mineralization along strike and at depth is encouraging for our objective to increase gold ounces in a resource update at the completion of our drill program planned for delivery in the Q4 of 2011."

The Company embarked on a 20,000 m drill program in August 2010 and currently has seven drill rigs in operation at Aurizona. Assays from 15 holes have been received and samples from 7 additional holes are at the assay lab. 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. Drill production has increased significantly in recent weeks.

Complete assay results have been received for eight drill holes totaling approximately 1,738 m drilled on five sections in the central portion of the Piaba deposit. In seven holes core was recovered from 100 meters depth 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.

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http://www.lunagold.com/s/NewsReleases.asp?ReportID=447367


Luna's VP Exploration, Titus Haggan, states, "Drilling rates have accelerated significantly with the mobilization of two additional rigs and we are currently on schedule to finalize drilling ahead of an updated resource estimate at Aurizona in the fourth quarter of 2011. Near mine exploration targets are also being brought to the drill stage and will be included in the 2011 resource update."

About Luna Gold Corp
Luna Gold is a producing gold company, with development and exploration projects. Gold production is from the Aurizona Mine in Maranhão state Brazil, development is the Cachoeira deposit Para, Brazil and the Company is exploring in a large strategically placed land position in Maranhão, Brazil.