) (“Lund”) is pleased to report that drilling will commence in the next couple of

days on the McFauld’s Lake “Ring of Fire” property under option from Noront Resources Ltd.

The summary report by James Mungall PhD, PGeo of Noront Resources Ltd. states: “Airborne and ground

geophysical surveys have been completed on the Noront/Lund Gold option to joint venture property in the James

Bay Lowlands of Ontario. Based on the geophysical interpretations two drill targets have been selected. Both

targets are moderately conductive bodies with short strike length, on the order of 100 metres, and both are

associated with mildly magnetic lineaments. The geological interpretation is that these conductors represent

exhalative chemical sediments, either iron formation or VMS mineralization, occurring as rafts surrounded by

felsic to intermediate intrusive rocks. The drill program is ready to execute upon mobilization of a drill into the

area.

In the spring and summer of 2008 Geotech performed a VTEM survey over the claim group. VT 1 is a two-line

conductor with a calculated conductance of 16.9 S at its south end. It is collinear with a weak positive magnetic

lineament striking approximately 330°. The profiles are too low and irregular in form to indicate shape or depth

to the top of the conductor. The high early time responses were interpreted to indicate the presence of thick

overburden. VT 2 is another two-line conductor but has a lower calculated conductance of about 6S on both lines

and interpreted as being either very small or very deep, perhaps as deep as 200m.

Ground magnetometer surveys were performed without grids on both the VT 1 and VT 2 targets. Both of the

conductors can be seen to be related to weak magnetic lineaments. These targets show potential to host VMStype

mineralization of the type exemplified by WSR’s 501 deposit and Canadian Orebodies’ Caribou deposit.

The proposed 800m drill budget will be sufficient to establish whether or not either of these targets is a VMS

deposit. A single preliminary hole of 200 or 250 depth has been proposed on each of the two targets, leaving 350

m of discretionary drilling in the budget to follow up either or both of these targets pending initial success. If

there are positive indications of VMS potential after the 800 m drill program has been completed then a fourth

phase of exploration should be planned, focusing on follow-up diamond drilling of the targets.”

To find out more about Lund Gold Ltd. (TSX-V: LGD), visit our website at

.