LGD Lund Enterprises Corporation

Lund Gold Ltd. (TSX VENTURE:LGD) ("Lund") is pleased report that it has, subject
to regulatory approval, arranged a brokered private placement of up to
$2,000,000 of common share units and flow-through units. A maximum of $1,570,000
of these gross proceeds may be raised through the sale and issuance of
flow-through units. The flow-through units will be issued at a price of $0.30
and the common shares will be issued at a price of $0.24. The gross proceeds
will be used primarily to fund exploration work on its McFaulds Lake Property.
Lund has been granted the option, from Noront Resources Ltd., to acquire a 50%
legal and beneficial interest in 13 claim blocks covering a total of 169 units
in the 'Ring of Fire', McFaulds Lake, Ontario, near Noront's nickel copper
discovery.


Each unit will consist of one share and one half share purchase warrant, with
every whole warrant entitling the purchase of one additional common share of
Lund at $0.40 per share for a period of no longer than two years from the
closing date. J.F. Mackie & Company Ltd. of Calgary, Alberta, has agreed to act
as Lund's agent in respect of the brokered placement and will receive an 8% cash
commission and broker warrants equal to 10% of the number of units sold under
this placement. Each broker warrant will entitle the purchase of one Lund share
at a price of $0.24 per share for a period of two years from the closing date.


Lund is also pleased to report that it has arranged, subject to regulatory
approval, a non-brokered private placement of up to 1,100,000 flow-through units
and up to 858,000 common share units on the same terms as the brokered private
placement, for aggregate proceeds of up to $535,920. The closing of the
non-brokered private placement shall occur on the same closing date as the
brokered private placement, but the brokered private placement is not contingent
on the Corporation closing the non-brokered private placement. A finder's fee
will also be payable to an arm's length third party in respect of this private
placement.


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

Lund Enterprises Corporation (TSXV:LGD)
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