Luna Gold Announces Retention of Special Committee Advisors

VANCOUVER, BC--(Marketwired - October 16, 2014) - Luna Gold Corp. (TSX: LGC)(LMA: LGC)(OTCQX: LGCUF) ("Luna" or the "Corporation") today announced that the Special Committee of its board of directors has engaged Canaccord Genuity Corp. as its financial advisor to assist in its evaluation of proposals and strategic alternatives available to the Corporation. The Special Committee has also engaged Blake, Cassels & Graydon LLP as its legal counsel.

The Special Committee, comprised of independent members of the Luna Board of Directors, was established with a mandate to explore all strategic alternatives, including the terms thereof, available to the Corporation to offer greater value to the Corporation's shareholders, and to provide advice and make recommendations to the Corporation's Board of Directors in respect of such potential transactions. There can be no assurance that this exploration process will result in any transaction.

Third Quarter 2014 Results
Luna will disseminate financial and operating results for the three month and nine month periods ending September 30, 2014 on November 13, 2014 after market. Subsequently, Luna will host a conference call on November 14, 2014 at 9am Pacific Time to discuss the results. The call is open to all interested parties, but questions will be reserved for institutional investors and analysts.

Conference Call Dial-In Details
Toll Free (North America): +1 800 396 7098 
Toronto Local and International: +1 416 695 6616 
Webcast: www.gowebcasting.com/5934   

A replay of the call will be available on Luna's website, www.lunagold.com

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

On behalf of the Board of Directors

LUNA GOLD CORP.
Geoff Chater, President and CEO

Website: www.lunagold.com

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 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 including, but not limited to, the availability of strategic options or alternatives, the implementation of any alternative transactions, and the specific factors identified in Luna Gold Corp.'s periodic filings with Canadian Securities Regulators. 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.