Lund Acquires Gold Property in Schreiber-Hemlo Greenstone Belt, Ontario

Lund Gold Ltd. (TSX VENTURE:LGD) ("Lund") is pleased to announce that it has
entered into an option agreement, subject to regulatory approval, to acquire a
100% legal and beneficial interest in 9 contiguous unpatented mining claims (76
units, 1216 hectares) known as the Blackfox Property, located within Tuuri Twp.,
Thunder Bay Mining Division, Ontario in the Schreiber-Hemlo Greenstone Belt. The
claims are optioned from a syndicate of Thunder Bay area prospectors,
("Prospectors").


In order to acquire a 100% interest subject to a 2.5% Net Smelter Royalty, Lund
is required to:


1. Make cash payments to the Prospectors totaling $85,000 over 3 years including
an initial $25,000 payment.


2. Issue to the Prospectors an aggregate of 300,000 common shares of Lund
including 100,000 shares upon regulatory approval, 100,000 shares on the first
anniversary and 100,000 shares upon a positive feasibility study.


In addition, Lund can purchase a 1% portion of the NSR at any time by making a
cash payment of $1 million to the Prospectors.


The Schreiber-Hemlo Greenstone Belt is host to the 25 million ounce Hemlo gold
deposit - one of Canada's largest gold producers - located 70 kilometres to the
east. Gold mineralization at Hemlo averages 8 g/t, occurs in several zones
totaling greater than 95 million tonnes, extends over a 3.7 km lateral extent
and greater than 1.5 km deep.


The Blackfox Property contains extensive alteration zones up to hundreds of
metres wide characterized by intense quartz/sericite/pyrite and
quartz/fuchsite/pyrite schists associated with shearing which is parallel and
sub-parallel to regional structures, and locally associated with gold
mineralization.


Despite its easily accessible location (the Trans Canada highway, a national
rail line and a major power transmission line cross the Blackfox Property) only
sporadic gold exploration has taken place since the 1890's. Prospector interest
resurfaced after Operation Treasure Hunt in 2000 when the Ontario Ministry of
Northern Development and Mines ("MNDM") performed regional airborne geophysical
surveys over the region. This work led to the discovery by prospectors of gold
showings with associated alteration zones along a greater than 2-kilometre south
west regional trend crossing the Blackfox Property. Of particular note is the
discovery of high grade gold float located along this trend, near the centre of
the Blackfox Property, where sampling and assaying by the Ontario 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.


Lund is planning an initial program of geological mapping, detailed prospecting,
geochemical surveying, trenching and IP geophysical surveying to be followed by
diamond drilling. This program will start as soon as crews can be mobilized.


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

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 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. Readers
are advised not to place undue reliance on forward-looking statements.