SOURCE: Luna Gold Corp.

Luna Gold Corp.

January 19, 2015 17:30 ET

Luna Gold Announces Production of 74,622 Ounces in 2014

VANCOUVER, BC--(Marketwired - January 19, 2015) - Luna Gold Corp. (TSX: LGC)(LMA: LGC) (OTCQX: LGCUF) ("Luna" or the "Company") announces gold production at the Aurizona Gold Mine for both the three month period ended December 31 2014 (the "fourth quarter") and the full year 2014 ("FY2014").

The Aurizona Gold Mine produced 20,758 ounces of gold during the fourth quarter. The fourth quarter performance brings Luna's gold production for FY2014 to a total of 74,622 ounces.

Production Data

   Full Year
2014
 Fourth
Quarter
2014
1
 Third
Quarter
2014
 Second
Quarter
2014
 First
Quarter
2014
 Full Year
2013
 Fourth
Quarter
2013
Processed ore (tonnes)  2,014,237  539,214  582,040  406,144  486,839  1,934,176  562,501
Average grade processed (g/t)  1.31  1.39  1.30  1.14  1.40  1.43  1.38
Average recovery rate  88%  87%  88%  88%  89%  90%  89%
Gold produced (ounces)2  74,622  20,758  20,188  14,262  19,414  79,229  22,177
Gold sales (ounces)3  76,592  22,173  17,535  13,882  23,002  72,404  16,756

Production statistics are unaudited and may be subject to change
Gold produced represents physical gold output from the processing plant. The variance between gold produced and the theoretical gold recovered is represented as changes in estimated gold work in progress inventory
3 Includes gold deliveries to Sandstorm Gold Ltd.

As disclosed in the Company's third quarter financial news release (11-13-14), mining activity will be reduced from mid-February 2015 onwards. An ore stockpile, stored ahead of the plant, will be processed while mining activity is reduced. The target range for the stockpile is 700,000 to 800,000 tonnes of saprolite and transitional ore grading 1.2 grams per tonne. Reductions in mine site personnel will be implemented to align the workforce to activities at the mine.

Luna Gold will provide a more detailed analysis in its Management's Discussion and Analysis and audited financial results for FY2014, which will be released no later than March 31, 2015. Details for the conference call reviewing the Company's performance will be announced in during the quarter. 

About Luna Gold Corp.
Luna is a gold production and exploration company engaged in the operation, discovery, and development of gold projects in Brazil.

On behalf of the Board of Directors

LUNA GOLD CORP.

Geoff Chater -- President and CEO

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 future gold production and/or the results of analysis on gold production. 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. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Luna Gold Corp.'s periodic filings with Canadian Securities Regulators. These factors include 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, 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, labor 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.

Contact Information

  • For further information contact
    Patrick Balit
    Investor Relations Manager
    +1 (604) 568-7993

    Website: www.lunagold.com