Pacific Road Resources Funds Announce Exercise of Warrants to Purchase Common Shares of Luna Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 14, 2016) - The Pacific Road Resources Funds ("PRRF") announce that they have exercised warrants to purchase 50,000,000 common shares ("Common Shares") in the capital of Luna Gold Corp. (the "Corporation") at an exercise price of C$0.10 per Common Share. PRRF paid an aggregate exercise price of $5,000,000.

When combined with the 3,813,224 Common Shares issued to PRRF in March 2016 and the 2,586,628 Common Shares issued to PRRF in June 2016, in each case in satisfaction of interest owing under promissory notes previously issued by the Corporation to PRRF, PRRF has acquired an aggregate of 56,399,852 Common Shares, representing approximately 14.5% of the Common Shares.

When aggregated with the 119,214,937 Common Shares and warrants to purchase 250,000,000 Common Shares previously acquired, PRRF holds an aggregate of 175,614,789 Common Shares and warrants to purchase 250,000,000 Common Shares. The 175,614,789 Common Shares represent approximately 45.2% of the issued and outstanding Common Shares of the Corporation as of September 2016. Assuming full exercise of the Series A Warrants and Series B Warrants, PRRF would hold 425,614,789 Common Shares, representing approximately 62% of the then issued and outstanding common shares of the Corporation.

PRRF has purchased the securities for investment purposes and may or may not purchase or sell securities of the Corporation, or exercise its warrants to purchase Common Shares, in the future on the open market or in private transactions, depending on market conditions and other factors. PRRF currently has no other plans or intentions that relate to its investment in the Corporation. Depending on market conditions, general economic and industry conditions, the Corporation's business and financial condition and/or other relevant factors, PRRF may develop other plans or intentions in the future.

A copy of the early warning report filed in connection with the investment will be available on the Corporation's profile on SEDAR at www.sedar.com.

About Pacific Road Resources Funds and Pacific Road Capital Management Pty Limited

The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining related infrastructure and mining services businesses located throughout resource-rich regions of the world. The Pacific Road Resources Funds are managed and advised by Pacific Road Capital Management Pty Ltd ("PRCM"). The PRCM team, located in Sydney, Australia, San Francisco, USA, and Vancouver, Canada, is comprised of experienced mining investment professionals that have extensive knowledge and experience in the mining and infrastructure sectors, including considerable operating, project development, transactional and investment banking experience. For further information on the Pacific Road Resources Funds and PRCM, please go to their website at www.pacroad.com.au.