LUNA GOLD ANNOUNCES APPOINTMENT OF NEW PRESIDENT & CEO

VANCOUVER, Sept. 27 /PRNewswire-FirstCall/ - Luna Gold Corp. (TSXV-LGC) ("Luna", "Luna Gold" or the "Company") is pleased to announce the appointment of John Blake, to serve as President and CEO of the Company. John will succeed Jim Bahan who will continue his contribution to the company as a director and be available as a consultant in the future. This change of CEO and the retention of Jim Bahan will strengthen the company management and board of directors for the continued growth of Luna Gold Corp. Marcel de Groot comments, "We would like to thank Jim Bahan for his outstanding contribution to the Company from the acquisition through production of the Aurizona Gold Project, and look forward to his continued contribution on the Board of Directors."

Australia born and based in Vancouver, John has over 30 years in the mining industry with extensive operations experience as Chief Executive/Director of Operations for the Indonesian subsidiary of Newcrest Mining, Australia's largest gold producer. While with Newcrest Dr. Blake oversaw the completion of a mine and the advancement of two mines from discovery through to production, including the underground Kencana Mine a 450,000 ounce per annum gold producer. Dr. Blake has strong operational experience and a demonstrated ability to manage and grow an operation through all facets of development. His business acumen is demonstrated from his experience as CEO of Australian Solomons Gold Ltd (ASX - SGA) responsible for the redevelopment of the Gold Ridge mine in Guadalcanal, Solomon Islands. John was also an executive Director of Agincourt Resources Ltd (ASX- AGC) and President of PT Agincourt Resources Indonesia responsible for the development of the Martabe Gold mine in Indonesia. Dr. Blake remains a non executive Director of Sihayo Gold (ASX - SIH) a company developing a gold mine in North Sumatra Indonesia.

"We are very pleased to bring on someone with John's skill set at this juncture of Luna's development. With Aurizona nearing commercial production, an aggressive 20,000 m drill program launched recently and a maiden NI 43-101 resource due out on Cachoeira in the fourth quarter of 2010, the future looks very exciting in this strong gold price environment," commented Luna Gold Chairman Marcel de Groot. "I am very excited to be joining the Luna Gold team at this period of its genesis as a gold company. Aurizona and the rest of Luna's assets present themselves as highly prospective projects with outstanding potential. I am pleased to be involved in a Company with such growth prospects," commented John Blake.

Dr. Blake has a Doctorate in Business Administration and a Masters in Engineering Science, from the University of New South Wales and a Masters in Business Administration from Deakin University in Victoria. Dr. Blake is also a member of the Australasian Institute of Mining and Metallurgy.

Other Matters

Luna Gold's board of directors has granted 5,000,000 stock options to an officer of the corporation. The options will have an exercise price of $0.58 per common share, with a hold period of four months and will expire on September 24, 2015.

The company also reports the cancellation and return to treasury of 213,839 common shares held in escrow pursuant to an escrow agreement dated June 23, 1997.

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.

Marcel de Groot - Chairman

Website: www.lunagold.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS 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, including without limitation the expectations and goals of management as to the defining of further mineral resource estimates and timing thereof, can be guaranteed and actual future results may vary materially. Luna Gold does not assume the obligation to update any forward-looking statement unless otherwise required by law.

SOURCE Luna Gold Corp.