Luiri Gold Limited
TSX VENTURE : LGL
ASX : LGM

Luiri Gold Limited

December 02, 2009 14:07 ET

Luiri Gold Releases First Assay Results of the 2009 Drilling Programme at the Luiri Hill Project

TORONTO, CANADA--(Marketwire - Dec. 2, 2009) - Luiri Gold Limited (TSX VENTURE:LGL)(ASX:LGM) has released the assay results from the first 23 drill holes of its plus 9,000m RC drilling programme at the Luiri Hill Gold Project (News Release September 16, 2009). The aim of this drilling was to improve the classification of the shallower resource at the Matala deposit and better define the edges of the mineralization. The assay results of these drill holes have confirmed that the Matala deposit is consistently mineralized throughout its defined resource and has the potential to be a high grade gold deposit over significant widths and strike length.



Highlights from the recently received results included in the table below.

-----------------------------------------
Corrected
Hole ID FROM Width Gold Au
(m) (m) (g/t)
-----------------------------------------
MTLRC151 110 8.0 11.6
-----------------------------------------
including 115 1.8 36.1
-----------------------------------------
MTLRC121 60 5.2 9.5
-----------------------------------------
including 60 1.7 26.5
-----------------------------------------
MTLRC162 159 20.5 4.9
-----------------------------------------
including 162 1.5 17.0
-----------------------------------------
AND 178 6.1 8.7
-----------------------------------------
MTLRC153 117 8.6 5.8
-----------------------------------------
MTLRC154 139 4.6 9.8
-----------------------------------------
MTLRC152 95 14.3 3.7
-----------------------------------------
including 103 2.9 10.3
-----------------------------------------
MTLRC136 84 14.5 2.9
-----------------------------------------


Detail on the assay methods and intersection calculations including a full list of results is given at the end of this News Release with Table 1.

Drilling Results

A total of 6,077m of RC drilling (61 drill holes) of the 9,500m drill programme was completed during October and December 2009 at the Matala deposit by Boart Longyear using two RC drilling rigs. Only those sections of the drillholes which were identified as covering the mineralized Matala zone were submitted for analysis. From Table 1 it is clear that there are a relatively high number of mineralized intersections in addition to those listed above, which confirms the internal continuity of the gold mineralization within the Matala resource model. The drilling programme has been focused on the shallower portion of the deposit where initial pit optimization studies have identified the most likely areas that could fall into economic pit studies.

A number of the drill holes which ended in mineralization will need to be deepened during the December drilling programme. Figure 1 shows the projected intersections of mineralization in drill holes on a longitudinal section of the Matala deposit for the previous drilling programme and the current infill drilling programme. Note that the drill holes were not drilled in numerical order.

Qualified Person

The Luiri Gold exploration programs and resource calculations have been carried out under the supervision of Mr. Michael Sperinck, AUSMIM. Mr. Sperinck is a qualified person, as defined by National Instrument 43-101, and as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Sperinck is a Director and full-time employee of the Company. Mr Sperinck consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Mr Sperinck has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration with more than 25 years of experience in the mining industry.

About Luiri Gold

Luiri Gold is a gold focused company with a strategy of creating shareholder value through building Luiri into a geographically diversified gold resource company in Africa with assets potentially ranging from near term production to exploration properties. The current focus is at Luiri Gold's wholly-owned Zambian subsidiary, Luiri Gold Mines Limited, which holds mineral tenements within southern-central Zambia covering approximately 1,200km2 of highly prospective exploration ground focused on the Dunrobin and Matala gold deposits. The Luiri Hill Project is situated approximately 120km west-northwest of the Zambian capital of Lusaka in Zambia's Central Province. Access to the Project area is by a newly-upgraded paved road from Lusaka.

The current Mineral Resource at the Luiri Hill Project includes 656,000 ounces gold contained in 7.1 million tonnes at 2.9g/t for the Inferred category and 144,000 ounces gold contained in 2.2 million tonnes at 2.1g/t for the Indicated category (reported in Press Release April 15, 2008).

In addition to the substantial gold resources the Luiri property also hosts the large, prominently outcropping hematitic Nambala iron deposit. A review by Coffey Mining indicated that on part of the mineralized body there exists the 'mineral potential' of between 100 and 300 million tonnes of rock at grades of 55-60% Fe. Interpretation of the regional geology indicates that the tonnages contained in this deposit could be significantly larger than this figure. It should be noted that the potential quantity and grade is conceptual in nature, and that there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Luiri Gold's mineral tenements and the resource estimate are the subject matter of two Technical Reports which are available for review under the Company's profile at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF LUIRI GOLD LIMITED

Michael Sperinck, President, Managing Director and CEO

This press release contains forward-looking information which involves risks and uncertainties. Forward looking information represents management's current views and these may change significantly as new information comes to hand.



----------------------------------------------------------------------------
Corrected
FROM TO Width Width Au
Hole ID (m) (m) (m) (m) (g/t) Comment
----------------------------------------------------------------------------
MTLRC121 60 66 6 5.2 9.5
----------------------------------------------------------------------------
including 60 62 2 1.7 26.5
----------------------------------------------------------------------------
MTLRC121 69 80 11 9.6 2.2
----------------------------------------------------------------------------
MTLRC123 48 53 5 3.9 Cavity Intersected old Stope
----------------------------------------------------------------------------
MTLRC124 71 78 7 5.3 2.5
----------------------------------------------------------------------------
MTLRC126 79 87 8 6.6 4.4
----------------------------------------------------------------------------
MTLRC127 55 60 5 4.4 1.5
----------------------------------------------------------------------------
MTLRC127 73 81 8 7.0 1.9
----------------------------------------------------------------------------
MTLRC128 27 33 6 5.2 1.8
----------------------------------------------------------------------------
MTLRC128 38 45 7 6.1 1.7
----------------------------------------------------------------------------
MTLRC132 47 53 6 5.2 3.5 Ended in mineralization
----------------------------------------------------------------------------
including 49 50 1 0.9 10.7
----------------------------------------------------------------------------
MTLRC132 58 63 5 4.4 2.7
----------------------------------------------------------------------------
MTLRC136 84 101 17 14.5 2.9
----------------------------------------------------------------------------
MTLRC138 108 118 10 7.5 2.0 Ended in mineralization
----------------------------------------------------------------------------
MTLRC144 47 49 2 1.5 5.4
----------------------------------------------------------------------------
Including 47 48 1 0.7 9.3
----------------------------------------------------------------------------
MTLRC144 80 85 5 3.7 6.2
----------------------------------------------------------------------------
including 81 84 3 2.2 9.0
----------------------------------------------------------------------------
MTLRC150 108 126 18 16.2 2.3
----------------------------------------------------------------------------
including 119 126 5 4.5 5.0
----------------------------------------------------------------------------
MTLRC151 110 119 9 8.0 11.6
----------------------------------------------------------------------------
including 115 116 2 1.8 36.1
----------------------------------------------------------------------------
MTLRC152 95 110 15 14.3 3.7
----------------------------------------------------------------------------
including 103 106 3 2.9 10.3
----------------------------------------------------------------------------
MTLRC153 117 126 9 8.6 5.8
----------------------------------------------------------------------------
MTLRC154 108 111 3 2.9 3.8
----------------------------------------------------------------------------
MTLRC154 139 144 5 4.6 9.8
----------------------------------------------------------------------------
MTLRC155 156 168 12 9.7 1.8 Ended in mineralization
----------------------------------------------------------------------------
MTLRC156 118 122 4 3.6 3.6 Ended in mineralization
----------------------------------------------------------------------------
including 118 119 1 0.9 9.9
----------------------------------------------------------------------------
MTLRC158 161 162 1 0.8 4.5 Ended in mineralization
----------------------------------------------------------------------------
MTLRC158 168 174 6 4.9 2.8
----------------------------------------------------------------------------
MTLRC159 138 149 11 10.0 3.0
----------------------------------------------------------------------------
including 147 149 3 2.7 8.1
----------------------------------------------------------------------------
MTLRC162 159 186 27 20.5 4.9
----------------------------------------------------------------------------
including 162 164 2 1.5 17.0
----------------------------------------------------------------------------
AND 178 186 8 6.1 8.7
----------------------------------------------------------------------------
MTLRC162 194 198 4 3.0 3.4
----------------------------------------------------------------------------
including 196 197 1 0.8 7.9
----------------------------------------------------------------------------
MTLRC163 189 195 6 4.9 6.3
----------------------------------------------------------------------------
including 192 194 2 1.6 14.6
----------------------------------------------------------------------------
MTLRC164 175 194 19 15.2 2.6
----------------------------------------------------------------------------
Including 177 178 1 0.8 8.8
----------------------------------------------------------------------------
Including 188 189 1 0.8 11.8
----------------------------------------------------------------------------


Note: The Matala deposit down hole lengths have been corrected using the down hole survey of the intersection and the local modeled dip of the mineralization. As the drill holes have been drilled perpendicular to the strike, no correction has been made for azimuth as the maximum deviation is less than 10 degrees. A cutoff grade of 0.5g/t Au has been used to define the boundary of the mineralized intersection. Gold accumulation is the weighted gold grade (g/t) multiplied by the width of the intersection (meters).

All samples were split using Jones rifflers and collected in plastic bags. The targeted depths were supplied to the geologist on each rig. The samples were submitted to Genalysis Laboratories in Johannesburg for sample preparation and analysis for gold by Fire Assay technique, followed by an atomic absorption spectrometer (AAS) reading. Sample pulp is despatched from Genalysis Johannesburg to Genalysis Perth for the multi-element analysis including copper by Aqua Regia dissolution, followed by an ICP-MS reading.

A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Luiri Hill Gold Project. This program includes chain of custody protocol as well as systematic submittal of certified reference materials, duplicates and blank samples into the flow of samples produced by the drilling. The approach is covered in the previous Technical Reports prepared according to the NI43-101 and lodged under the companies profile on the Sedar website.

An independent review of the sampling programme was undertaken and found that the RC sampling and quality control procedures are appropriate and conform to industry standard procedures.

To view "Figure 1: Matala deposit - Longitudinal Section (Note the drill hole names have been shortened for plotting)", please visit the following link:

http://media3.marketwire.com/docs/lui_map1202.jpg

THE TSX VENTURE EXCHANGE NOR THE ASX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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