Luna Gold Announces Effective Date of Share Consolidation

Luna Gold Corp. (TSX VENTURE:LGC)(LMA:LGC) ("Luna Gold" or the "Company")
announces that, further to its press release of February 14, 2012, the Company
has filed Articles of Amendment with the Director appointed under the Canada
Business Corporations Act to give effect to the consolidation of the Company's
common shares ("Common Shares") on the basis of five (5) pre-consolidation
Common Shares for each one (1) post-consolidation Common Share (the
"Consolidation"). The shareholders of the Company authorized the Consolidation
at the shareholder's meeting held on February 14, 2012 and the Company's
post-consolidation Common Shares will be posted for trading on the TSX Venture
Exchange ("TSXV") at the opening on Friday, February 24, 2012 under the current
symbol "LGC" and new CUSIP number 550344303.


The 522,602,895 Common Shares issued and outstanding prior to the Consolidation
have been consolidated to approximately 104,520,579 Common Shares. In the event
the Consolidation would otherwise result in a fractional Common Share, such
fraction of a Common Share will be rounded down to the nearest whole number. The
Company's currently outstanding non-listed warrants (the "Non-Listed Warrants")
and stock options will be adjusted on the same basis. There are currently
6,859,221 Non-Listed Warrants and 40,600,282 listed warrants (the "Listed
Warrants") issued and outstanding. Following the Consolidation, each five (5)
Non-Listed Warrants will entitle the holder to purchase one post-consolidation
Common Share at an aggregate exercise price of CA$5.00 per post-consolidation
Common Share and each five (5) Listed Warrants will entitle the holder to
purchase one post-consolidation Common Share at an aggregate exercise price of
CA$3.50 per post-consolidation Common Share. Both the Non-Listed Warrants and
the Listed Warrants are exercisable at any time until September 29, 2013. The
Company's Listed Warrants will continue to be traded on the TSXV under the
symbol "LGC.WT" In accordance with the terms of the Warrant Indentures governing
both the Non-Listed and the Listed Warrants, notice of the Consolidation has
been sent to all holders of these warrants.


The Company has mailed letters of transmittal to the registered holders of its
Common Shares, requesting that they forward their pre-consolidation Common Share
certificates to the Company's transfer agent, Computershare Investor Services
Inc., for exchange for new Common Share certificates representing their Common
Shares on a post-consolidation basis.


About Luna Gold Corp.

Luna Gold is actively engaged in the operation, exploration, acquisition and
development of gold opportunities in Brazil. The Company currently has a gold
mining operation, Aurizona Gold Mine in Maranhao, Brazil, a gold development
project, the Cachoeira project in Para, Brazil and the Company is exploring in a
large strategically placed greenfields land position in Maranhao, Brazil.


On behalf of the Board of Directors

LUNA GOLD CORP. 

John Blake - President and CEO