VANCOUVER, BRITISH COLUMBIA, Mar 20, 2008 (MARKET WIRE via COMTEX News Network) --
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.