Lund Gold Ltd.
TSX VENTURE : LGD

Lund Gold Ltd.
Oromin Explorations Ltd.
TSX VENTURE : OLE
OTC Bulletin Board : OLEPF

Oromin Explorations Ltd.

December 04, 2006 17:37 ET

Lund and Oromin Discover New High Priority Gold Targets at Carneirinho

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Lund Gold Ltd. (TSX VENTURE:LGD) and Oromin Explorations Ltd. (TSX VENTURE:OLE)(OTCBB:OLEPF) are pleased to report that the Phase 1 exploration at the Carneirinho Property in the Tapajos region of north central Brazil is complete. Extensive former and current garimpeiro workings are located within the Carneirinho Property. Historical production from the property is reported to be approximately 3 tonnes of gold. The main garimpeiro pit, Antonio de Luca had a corresponding gold in soil anomaly and is associated with a well defined magnetic low.

Initial gold results from the Phase 1 reconnaissance sampling program show that 185 soil samples out of 1200 contain more than background levels of gold (see Table 1 below). In total, 6 spacially separate gold anomalies exist away from the current garimpeiro workings. Of the six gold anomalies, 4 exist in conjunction with a coincidental magnetic low and two of the anomalies are coincident with a linear magnetic high based on the ground geophysical survey completed as part of the phase 1 exploration.

TABLE 1 -GOLD IN SOILS - ANOMALY SUMMARY PHASE 1



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Gold Gold
(greater than Gold Gold (5 - 20 ppb)
100ppb) (50 - 100 ppb) (20 - 50ppb) -Background Level
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Soil
Samples 4 samples up to 10 samples 31 samples 140 samples
2594 ppb
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In summary, Anomaly 1: the gold in soil anomaly exists immediately north of the existing gold producing garimpeiro pits on a large topographic high associated with a strong magnetic low. Gold in soils are up to 2594 ppb. The anomaly extends for 350m north and 400m east-west and may represent a portion the primary source of the abundant gold in streams being recovered by garimpeiros; Anomaly 2: 550m strike length with up to 134 ppb Au associated with a broad linear magnetic low; Anomaly 3: 450 m strike length with up to 67 ppb Au associated with a discrete weak magnetic low; Anomaly 4: 250m strike length with up to 82 ppb Au associated with a linear magnetic low; Anomaly 5: 250m strike length with up to 123 ppb Au associated with a broad NW trending magnetic high; Anomaly 6: 200m strike length with up to 37 ppb Au associated with a magnetic high.

As well, numerous localized gold in soil anomalies exist (up to 78 ppb Au). All gold in soil values exceeding 20 ppb Au are considered of interest for detailed follow-up evaluation.

There is minimal outcrop exposed throughout the Carneirinho Property. Rock samples collected during Phase 1 contain up to 0.2 g/t Au and previous rock samples collected by APEX Geoscience Ltd. contain up to 12.1 g/t Au. Historical results from the various Garimpo workings include: 10.83 g/t gold over 7.0 metres at the Joao Pinto pit and 12.68 g/t gold over 26.0 metres at the Antonio de Luca pit.

Samples were analyzed at Lakefield Geosol Laboratories (Lakefield), Belo Horizonte. The samples were analyzed for gold and multi-element geochemistry. Lakefield is ISO9001, version 2000 certified.

Lund and Oromin are planning a detailed follow-up program to better delineate the newly discovered gold targets and pick specific drill targets for the property during spring 2007.

"The reconnaissance results reiterate why we're excited about the potential of the Carneirinho Property and the Tapajos Region. Our follow-up exploration program will help us better understand the nature and context of the new high priority targets and hopefully lead to a major gold discovery," states Mr. Idziszek.

Lund and Oromin hold an option to jointly acquire a 100% interest in the Carneirinho Property. The 2006 exploration was completed under the direction of Mr. Dean Besserer, P.Geol., APEX Geoscience Ltd., of Edmonton, Alberta, who is a qualified person as defined in National Instrument 43-101.

To find out more about Lund Gold Ltd. (TSX VENTURE:LGD) or about Oromin Explorations Ltd. (TSX VENTURE:OLE)(OTCBB:OLEPF), visit their websites at www.lundgold.com or www.oromin.com.

On behalf of the Board of Directors of Directors of LUND GOLD LTD.

Chet Idziszek, President

On behalf of the Board of OROMIN EXPLORATIONS LTD.

Chet Idziszek, President


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