| ||September 17, 2009|
Lund Acquires The Don-Don Property In Northern B.C.
| ||Lund Gold Ltd. (TSX-V: LGD) is pleased to report that it has, subject to regulatory approval, been granted the sole and exclusive option to acquire a 100% interest in sixteen claims covering 6,105 hectares located in the Omineca Mining Division, Province of British Columbia known as the Don-Don Property.|
The Don-Don Property is contiguous with claims belonging to Lysander Gold's "Pinchi Project" which have been recently optioned by Amarc Resources. The Don-Don Property covers a portion of the Pinchi fault contact with the Duckling Creek syenitic phase of the Hogen Batholith where alkalic porphyry copper-gold mineralization has been found to be associated with the Duckling Creek intrusive phases of the Hogen Batholith locally. A large IP target occurs on the adjacent Lysander ground and is open to the west onto the Don-Don Property which also hosts two large prominent EM airborne anomalies.
The Northern Quesnel Trough area is very active with numerous companies exploring for porphyry style copper-gold mineralization, including work in the north around Kemess and locally at the Lorraine property and to the south at Serengeti Resources Kwanika property and at Mt Milligan. Lund plans to begin geophysical work shortly with a view to generating drill targets as soon as possible.
In order to exercise its option, Lund must pay the vendors a total of $203,000 over four years, issue a total of 650,000 shares of Lund over five years and incur exploration expenditures totalling $575,000 over four years. The Vendors will retain a royalty equal to 3% of net smelter returns, with Lund having the right to purchase, at any time, one third of the royalty (being equal to one percent (1%) of net smelter returns) by paying the vendors the sum of CAD$2,000,000
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 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.
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