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Luna Gold Corp. News

Luna Gold closes private placement of C$4 million

VANCOUVER, March 13 PRNewswire-FirstCall - Luna Gold Corp. (TSXV-LGC) ("Luna" or the "Company") is pleased to announce the closing of a non-brokered private placement of 3,636,364 common shares for gross proceeds of $4,000,000.40, which shares are subject to a four month hold period expiring on July 13, 2008.

The proceeds from this financing will be used to continue with the Company's exploration and development programs at its Aurizona and Cachoeira gold projects in Brazil.

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.

CONTACT: Investor Relations at (604) 689-7317 or toll free at 1-866-689-7317

SOURCE Luna Gold Corp.

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