| ||March 18, 2009|
Lund Gold Reports Receipt of Final Summary Report of Work Performed by Noront Resources Ltd.
| ||Lund Gold Ltd. (TSX-V: LGD) ("Lund") reports that it is in receipt of the final Summary Report of Work performed by Noront Resources Ltd. (Noront) on the claims that are subject to an option to joint venture agreement in the Ring of Fire area of the James Bay Lowlands. As operator of the project, Noront performed two airborne surveys and ground-based, geophysical follow up work that was designed to further detail two VTEM airborne anomalies that were identified. A diamond drilling program to test these two geophysical anomalies was carried out in December of 2008.|
The drilling program consisted of two diamond drill holes that totaled 482.6 metres in length. Both targets were explained by narrow intercepts of disseminated to semi-massive sulphides, mostly in the form of pyrrhotite. The best result was a 0.85 metre interval that assayed 1.22% zinc. The estimated cost of Noront's exploration on the property total approximately $300,000.
Noront in its role as operator of the project has recommended no further work be carried out at this time. After a review of the data, Lund is in agreement with this recommendation and has opted to terminate the agreement. Lund expects to receive approximately $700,000 back from exploration funds advanced to Noront.
On Lund's Black Fox Gold Property, the 2009 exploration program is currently being formulated and will be reported shortly. Lund has an option to acquire a 100% interest in the Black Fox Gold Property which is located within Tuuri Twp., Thunder Bay Mining Division, Ontario in the Schreiber-Hemlo Greenstone Belt. Lund remains well funded and is seeking additional quality gold projects.
To find out more about Lund Gold Ltd. (TSX-V: LGD), visit our website at www.lundgold.com.
On behalf of the Board of Directors of
LUND GOLD LTD.
Neither the 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
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
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