Lund Gold Ltd.
TSX VENTURE : LGD

Lund Gold Ltd.
Noront Resources Ltd.
TSX VENTURE : NOT

Noront Resources Ltd.

July 17, 2008 08:30 ET

Retransmission: Lund Gold and Noront Resources Ltd. Provide Project Update

VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO--(Marketwire - July 17, 2008) - Lund Gold Ltd. (TSX VENTURE:LGD) ("Lund") and Noront Resources Ltd. (TSX VENTURE:NOT) ("Noront") are pleased to release the following project update on their Lund property. The Lund Property is located approximately 25 km. north northeast of Noront's Eagle One Magmatic Massive Sulphide discovery in the "Ring of Fire" area of the James Bay Lowlands. Nakina, Ontario lies approximately 300 km. south - southwest of the property.

The Eagle One deposit has recently been the focus of a 43-101 compliant resource study that identifies an initial indicated resource of 1,834,000 tonnes grading 1.96% nickel, 1.18% copper, 0.15g/t gold, 1.12g/t platinum, 3.91g/t palladium and 3.81g/t silver. Additionally, the study outlined an inferred resource of 1,087,000 tonnes grading 2.39% nickel, 1.27% copper, 0.13g/t gold, 1.37g/t platinum, 4.50g/t palladium and 4.21g/t silver. This discovery was made in late August of 2007 and kicked off a major staking rush. Over 35 mining companies currently hold interests in the area that has been loosely dubbed the "Ring of Fire" by the various participants.

Additional discoveries have been made in the vicinity by the Spider Resources Inc., KWG Resources Inc. joint venture where as of July 15, 2008 a National Instrument 43-101 compliant resource of 802,000 tonnes grading 3.75% copper and 1.1% zinc at their Mcfauld's 3 volcanic hosted massive sulphide deposit was announced. WSR Resources Inc., Metalex Ventures Ltd. and Arctic Star Resources Inc. have recently announced intersections of Volcanic Derived Sulphides

Recent Vtem surveys have been completed over the Lund - Noront project area, known as the Lund Property. Preliminary results indicate the presence of a number of aeromagnetic and electromagnetic anomalies that indicate the presence of bedrock conductors. Depending on the results of final interpretation and a property examination, a follow up program will be outlined for execution during this year. This program will consist of ground surveys and/or diamond drilling. Noront is the operator of the project and plans to schedule the follow up to these airborne surveys over the next month.

The Lund property consists of 13 claims that total 169 units. For terms of the agreement please refer to Lund news release dated February 4, 2008. Upon Lund satisfying the terms of the agreement to earn 50%, a joint venture will be formed with Noront acting as the Operator.

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

Chet Idziszek, President

On Behalf of the Board of Directors of NORONT RESOURCES LTD.

Richard Nemis, President and CEO

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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