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 January 19, 2004
Brokered Private Placement

 Lund Gold Ltd. ("Lund") reports that the non-brokered private placement announced on November 24, 2003 will not be proceeding as a result of market conditions.

Lund is pleased to report that it has, subject to regulatory approval, arranged a brokered private placement of 3,000,000 units at a price of $0.45 per unit to fund Lund's next phase of work on the Aldebarán Property. Each unit will consist of one share and one half share purchase warrant, every full warrant entitling the purchase of one additional share of Lund for a period of two years at a price of $0.45 during the first year and thereafter at a price of $0.60 per share.

Canaccord Capital Corporation ("Canaccord") has agreed to act as Lund's agent in respect of this placement and will receive a commission of 8% of the gross proceeds, such fee to be payable half in cash and half in units at Canaccord's election, a broker's warrant entitling the purchase of up to 600,000 shares of Lund for a period of two years at a price of $0.45 during the first year and thereafter at a price of $0.60 per share, an administration fee of $7,500 and a corporate finance fee of 100,000 shares.

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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