Luna Gold Announces the Addition of Augusto Baertl as Advisor to Management and Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2011) - Luna Gold Corp. (TSX VENTURE:LGC)(BVLAC:LGC) is pleased to announce the appointment of Augusto Baertl to serve as Advisor to the Company.

The addition of Augusto Baertl provides the Luna Gold Board with the wisdom and knowledge gained in Augusto's vast international mining management experience. In particular his knowledge and experience in South America will provide invaluable advice now that Luna Gold is actively trading on the Lima Stock Exchange (BVLAC:LGC).

Augusto Baertl has been a director of Interbank since April 2, 2002. Since 2003, he has been Chairman of the Board of Gestora de Negocios and Agricola Chapi S.A. He is Director of Fima SA, BISA, Alturas Minerals, Norsemont and Golden Alliance. He has also worked for thirty years at Compania Minera Milpo SA as Managing Director General, and until 2003 as CEO of Compania Minera Antamina, successfully leading the management, development, construction and commencement of operations, which represented an investment of U.S. $ 2.250 million. Mr. Baertl is a Peruvian Mining Engineering graduate of the National Engineering University and has participated in Senior Management Program of Harvard Business School and the CEO Management Program at the University of Kellogg.

I look forward to working with Mr. Baertl in the continued development and growth of Luna Gold Corp.

On behalf of the Board of Directors

LUNA GOLD CORP.

John Blake, President and CEO

About Luna Gold Corp.

Luna Gold is a producing gold company with development and exploration projects. Gold production is from the Aurizona Mine in Maranhão, Brazil, development is the Cachoeira deposit in Para, Brazil and the Company is exploring in a large strategically placed land position in Maranhão, Brazil.

Forward-Looking Statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to the Company's exploration programs, any planned resource upgrades, production estimates and any planned upgrades to processing facilities. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Luna Gold Corp. are forward-looking and subject to various risks and uncertainties, both known and unknown, many of which are beyond the ability of Luna Gold Corp. to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.

Forward-looking information is subject to known and unknown risks and uncertainties that may cause Luna Gold Corp.'s actual results, performance or achievements may be materially different from those expressed or implied by such forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, mine development and production costs, the projected life of the Company's mines, future production levels, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.