Luna Gold Announces Results for the Fourth Quarter and Full Year 2012

Luna Gold Announces Results for the Fourth Quarter and Full Year 2012 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/13/13 -- Luna Gold
Corp. (TSX:LGC)(OTCQX:LGCUF)(LMA:LGC) ("Luna" or the "Company") today
announced its operational and financial results for the three and
twelve month periods ended December 31, 2012 ("fourth quarter" and
"full year," respectively).  
Operational and Financial Results (all financial amounts in US

--  Record gold production of 21,547 ounces in the fourth quarter and 74,269
    ounces in the full year 
--  Average unit cash cost of production of $651 per ounce for the fourth
    quarter and $734 per ounce for the full year(1) 
--  Net income of $8.3 million for the fourth quarter and $19 million for
    the full year 
--  Earnings per share of $0.08 for the fourth quarter and $0.18 for the
    full year 
--  Operating cash flow of $8.1 million for the fourth quarter and $24.8
    million for the full year 

Company Developments 

--  Aurizona Gold Mine ("Aurizona") Phase I expansion project approved and
    commenced, increasing gold production to a targeted 125,000 ounces per
    annum upon completion; 
--  Agreement reached with Sandstorm Gold Ltd. ("Sandstorm") whereby
    Sandstorm will contribute 17% of the required Aurizona Phase I expansion
    project capital expenditures, up to a maximum of $10 million 
--  Recept of positive initial assay results and commencement of a seven
    hole diamond drill program at Luna Greenfields' Touro target 
--  Drill programs completed with positive results at Aurizona's Piaba
    deposit and Boa Esperanca, Ferradura, and Conceicao near mine targets 
--  Graduated to the main boards of both the Toronto Stock Exchange and the
    Lima Stock Exchange 
--  Cachoeira Gold Project sold to Brazil Resources Inc. for a gain of
    approximately $7.1 million 
--  Obtained a new $30 million corporate secured revolving facility with
    Societe Generale and Mizuho Corporate Bank in the quarter ending March
    31, 2013 

For complete details on the 2012 results, please refer to the Audited
2012 Financial Statements, Management Discussion and Analysis, and
the Annual Information Filing on SEDAR or the Company's website. 
(1) Refer to "Non-IFRS" Financial Measures in Management's Discussion
and Analysis Fourth Quarter and Year End December 31, 2012. 
2013 Guidance 
On January 28, 2013, Luna provided its annual guidance for 2013. The
Company anticipates that Aurizona will produce between 95,000 and
105,000 ounces of gold in 2013. The average cash cost associated with
this annual production is expected to be between $705 and $715 per
ounce. The Company also anticipates completing Phase I of Aurizona's
expansion during the fourth quarter of 2013, targeting an increase in
the facility's production to 125,000 ounces per annum. This expansion
is currently progressing both on time and within its original budget
of $49.7 million (including a contingency of $6.5 million), $7.7
million of which had been spent as of December 31, 2012. Sandstorm
had contributed $1.5 million of the $7.7 million capital spend as of
December 31, 2012. The Company intends to release a Preliminary
Feasibility Study for Phase II of this expansion during the fourth
quarter of 2013.  
Gold production during the first quarter of 2013 has been negatively
impacted by the drought conditions that persisted to the end of
February 2013 reducing mill throughput and gold production.
Fortunately, the rains started to arrive in late February and
operations at Aurizona have returned to normal. Additionally, the
Company embarked on a successful test hole program to identify fresh
ground water sources with the first well installation underway. The
drought conditions benefited the tailings dam raise, which was
successfully completed to the 27 metres elevation, and which will
provide extra water storage and rain collection.  
As a result of the drought conditions, the Company is now targeting
to produce between 15,000 and 16,000 ounces of gold during the first
quarter of 2013, a reduction from its previous guidance of
approximately 21,000 ounces. The Company expects to mark up this
production shortfall throughout the balance of 2013. As a result,
annual production guidance for the year remains at 95,000 to 105,000
Following permit approvals, mining and plant feed of high grade
laterite ore in a new area of the Piaba pit commenced during the
second half of February 2013.  
On March 14, 2013, Luna intends to release the results of Aurizona's
resource update.  
In January, Luna announced the positive assay results generated from
its initial drill program at Touro, the most promising target at the
Company's 220,000 hectare Luna Greenfields property. These results
have led the Company to continue drilling at Touro in an effort to
define a National Instrument 43-101 compliant resource. 
"2012 was a remarkable year for Luna Gold," stated John Blake, Luna's
President and CEO. "It is a great achievement for our shareholders
and employees to have both generated more than 74,000 ounces in
production and positive cashflows for the year. At the beginning of
2012, the Company outlined an annual production target of 60,000
ounces. We succeeded in achieving both production well above this
level and considerable improvements in our efficiency."  
"During 2013, Luna will strive to deliver additional value continue
to our shareholders by funding both Aurizona's ongoing expansion and
the continued exploration of our promising Greenfields property. In
combination, we believe that these two properties are capable of
delivering the level of production necessary to grow our Company into
Brazil's next mid-tier gold producer." 
Luna will utilize its inaugural quarterly conference call to discuss
both the Company's financial results and the resource update at
Aurizona. This call is scheduled to take place on Thursday, March 14,
2013 at 11:00 am Eastern Standard Time.  

Toll Free (North America):            866 226 1793                          
Toronto Local and International:      416 340 2218                          

A replay of the call will be available until March 28, 2013. The
replay may be access by dialing either 905-694-9451 (Toronto Local
and International) or 800-408-3053 (Toll Free). The passcode for the
replay is 1948527.  
About Luna Gold Corp. 
Luna is a gold production and exploration company engaged in the
operation, discovery, and development of deposits and advanced stage
projects in Brazil.  
On behalf of the Board of Directors 
John Blake, President and CEO 
Forward-Looking Statements  
This release contains certain "forward looking statements" and
certain "forward looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements can
generally be identified by the use of forward-looking terminology
such as "may", "will", "expect", "intend", "estimate", "anticipate",
"believe", "continue", "plans" or similar terminology.
Forward-looking statements include, but are not limited to,
statements with respect to future gold production and/or the results
of analysis on gold production. Forward-looking statements are based
on forecasts of future results, estimates of amounts not yet
determinable and assumptions that while believed by management to be
reasonable, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Forward-looking
statements are subject to various risks and uncertainties concerning
the specific factors identified in Luna Gold Corp.'s periodic filings
with Canadian Securities Regulators. These factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drill results
and other exploration data, the potential for delays in exploration
or development activities, the geology, grade and continuity of
mineral deposits, the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations, accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties with or
interruptions in production and operations, fluctuating metal prices,
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, regulatory restrictions,
including environmental regulatory restrictions and liability,
competition, loss of key employees, and other related risks and
uncertainties. The Company undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
Luna Gold Corp.
Investor Relations
(604) 568-7993
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