Lund Gold Ltd. and Noront Resources Ltd.: Drilling Planned on Lund Property, Ontario

  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 in the "Ring of Fire" area of the James Bay Lowlands, Ontario.

Recent Vtem airborne surveys have been completed over the Lund-Noront project area, known as the Lund Property. Noront reports that two Vtem airborne geophysical anomalies are being scheduled for immediate follow up by Noront. The anomalies occur in an area of low magnetic amplitude, one of which is associated with a weak magnetic axis. Ground geophysical surveys, (magnetic and VLF) followed by diamond drilling are planned before freeze-up.

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.

To find out more about Lund Gold Ltd., please visit www.lundgold.com. To find out more about Noront Resources Ltd., please visit www.norontresources.com.

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.

Contacts: Lund Gold Ltd. David Scott Investor Relations [phone] [phone] (FAX) Website: www.lundgold.com Noront Resources Ltd. Neil Novak Vice President Corporate & Aboriginal Affairs [phone] Website: www.norontresources.com