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 June 05, 2007
Drilling Contract Signed For Carneirinho Project

 Lund Gold Ltd. (TSX-V:LGD) is pleased to report that the Phase 2 exploration at the Carneirinho Property in the Tapajos region of north central Brazil has commenced. The Phase 1 gold results from reconnaissance sampling show that 185 soil samples contain more than background levels gold. In total, 6 spacially separate gold anomalies exist away from the current Garimpeiro workings. Of the 6 gold anomalies, 4 exist in conjunction with a coincidental magnetic low and 2 of the anomalies are coincident with a linear magnetic high based on the ground geophysical survey completed as part of the phase 1 exploration. Construction of a 20 man camp has begun and will be completed by the end of the month to facilitate the Phase 2 exploration.

The 2007 exploration is part of an aggressive follow-up program which will include the collection of up to 1650 soil samples, rock sampling and ground geophysical surveying to better delineate and evaluate the newly discovered gold anomalies, followed by hand trenching and drilling. As well, newly acquired landsat data will be used to better interpret structural controls with respect to gold mineralization.

A drill contract has been signed with Kluane International Drilling Inc. for an initial 1000m diamond drill program. The approved Phase 2 budget is $700,000 and the exploration program will be completed by about the end of July.

Extensive former and current garimpeiro workings are located within the Carneirinho Property. Historical production from the property is reported to be approximately 3 tonnes of gold. The main garimpeiro pit, Antonio de Luca had a corresponding gold-in-soil anomaly and is associated with a well defined magnetic low.

Samples will be sent to Lakefield Geosol Laboratories (Lakefield), Belo Horizonte, Brazil. Samples will be analyzed for gold and multi-element geochemistry. Lakefield is ISO9001, version 2000 certified.

Lund holds an option to acquire a 100% interest in the Carneirinho Property. The 2007 exploration is under the direction of Mr. Dean Besserer, P.Geol., APEX Geoscience Ltd., of Edmonton, Alberta, who is a qualified person as defined in National Instrument 43-101.

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.

"Chet Idziszek"

Chet Idziszek,
President

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY AND ACCURACY OF THIS RELEASE
 
 

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