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 May 18, 2004
Geophysical Survey Outlines Excellent Drill Targets In Brazil

 Further to its news release of March 17, 2004, Lund Gold Ltd. (TSX-V: LGD) is pleased to report that it has completed the I.P. geophysical surveying on its Aldebaran Property in Brazil. Fugro-Geomag of Rio de Janeiro completed 32 kilometres of pole-dipole (75 metre array) I.P. surveys as in-fill, step-out and extensions to Lund's initial wide spaced (400 metre) 22.5 kilometre (50 metre array) I.P. survey completed last fall. This program has outlined a number of excellent chargeability and resistivity features that will form the basis of Lund's initial drill program scheduled for late June. The final geophysical report and interpretations are expected within 2 weeks from Fugro-Geomag.

The I.P. surveying covers a 3 km by 4 km area within the central portion of Lund's 30 square kilometre gold geochemical target where outcrop exposure is rare. Of particular note is the direct coincidence of a minimum 600 metre long chargeability anomaly with Lund's trench that returned 2.36 g/t gold from 5 samples along 5.2 metres and where a composite chip sample from an adjacent trench returned a value of 114.2 g/t gold over 1 metre. In addition, line extensions to the south of previous surveying have encountered altererd and quartz veined outcrops, also coincident with a chargeability anomaly.

Final drill target evaluations and drill locations will be determined after the receipt of Fugro-Geomag's report.

All fieldwork was carried out under the supervision of Lund's field staff and all assaying was carried out by Lakefield Geosol in Belo Horizonte, Brazil. All results in excess of 1,000 ppb gold will be re-assayed and sent for check analysis. The foregoing results have been verified by Douglas Turnbull, P.Geo.

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


NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN
 
 

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