Lund Gold Ltd.
TSX VENTURE : LGD

Lund Gold Ltd.

June 16, 2010 09:30 ET

Lund Gold Ltd.: Blackfox Property Summer Program Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2010) - Lund Gold Ltd. ("Lund") (TSX VENTURE:LGD) is pleased to announce its summer 2010 exploration plans for the Blackfox Property in Northern Ontario. The Blackfox Property is located approximately 225 km east of Thunder Bay and approximately 70 km west of the 25 million ounce Hemlo Gold Deposit. The property lies within an extension of the Schreiber-Hemlo Greenstone Belt which is also host to the Hemlo Gold Deposit.

As previously reported, the discovery of high grade gold float near the centre of the Blackfox Property, sampled and assayed by the Ontario Ministry of Northern Development and Mines ("MNDM") office in Thunder Bay, returned consistent results ranging from 165 to 189 g/t gold. The hydrothermally altered float samples (silica, sericite and iron carbonate with pyrite) consisted of fragile angular blocks that are assumed proximal to their source location.

The initial phase of exploration completed between fall 2008 and spring 2009 comprised detailed geological and geochemical sampling and mapping, prospecting, line-cutting and detailed ground magnetic surveying. In total, 2,618 soil and 421 rock samples were collected and 52 line kilometers of ground magnetics were completed. Initial gold results confirmed the existence of gold-in-soil anomalies (up to 1,260 ppb Au) within the Blackfox Property. Rock samples collected at the property contain up to 3 g/t Au from the Fire Mountain showing/area.

A northeast trending sequence of folded and faulted mafic-felsic volcanic, sedimentary and intrusive rocks occur to the north of Black Fox Lake. Soil anomalies within this area returned results of up to 1,260 ppb Au. Nearby, six of twelve soil samples collected across a belt of mafic volcanic rocks returned results ranging from between 50 and 90 ppb Au. The Blackfox soil anomaly occurs within an area of complex structural geology that includes northeast trending faults and isoclinal folds that have been overprinted by late northwest-southeast trending folds, faults and diabase dykes. The results of a 1999 Ontario Geological Survey helicopter-borne geophysical survey reveal the area is coincident with northeast trending conductive and northwest trending magnetic anomalies.

Based on the presence of favourable geology and coincident conductive, magnetic and gold-in-soil anomalies, Lund considers the Blackfox anomaly a high priority for follow-up. The summer 2010 exploration program will include prospecting, rock geochemical sampling and geologic mapping to determine the source of the soil anomaly and identify the geologic and structural controls of mineralization.

To find out more about Lund Gold Ltd. (TSX VENTURE:LGD), visit our website at www.lundgold.com.

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

Chet Idziszek, President

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