VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2013) - Luna Gold Corp. (TSX:LGC)(OTCQX:LGCUF)(LMA:LGC) ("Luna" or the "Company") is pleased to announce its gold production at the Aurizona Gold Mine for the quarter ended March 31, 2013 (the "First Quarter").
Aurizona produced 17,203 ounces of gold during the First Quarter, exceeding the Company`s previous quarterly guidance of 15,000 to 16,000 ounces. Full year 2013 production guidance remains unchanged at between 95,000 and 105,000 ounces of gold.
John Blake, Luna's President and CEO stated, "Production this quarter was impacted by drought conditions at Aurizona from mid-2012 through to February 2013. The seasonal rainfall returned in March, allowing production to return to targeted levels. The Company has implemented plans to maximize rainwater retention, mitigating future water supply shortages."
Production Data for Q1 2013
| Q1 2013 1 | |
| Processed ore (dry tonnes) | 447,990 |
| Average grade processed (g/t) | 1.40 |
| Average recovery rate (%) | 90.6 |
| Gold produced (ounces) | 17,203 2 |
| 1 Production statistics are unaudited and may be subject to change. |
| 2 Gold produced represents physical gold output from the processing plant. The variance between gold produced and the theoretical gold recovered is represented as changes in estimated gold work in progress inventory. |
Luna Gold will provide a more detailed analysis of these results in its Management's Discussion and Analysis for the first quarter, which will be released prior to May 15, 2013.
About Luna Gold Corp.
Luna is a gold production and exploration company engaged in the operation, discovery, and development of gold projects in Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
John Blake - President and CEO
Website: www.lunagold.com
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.
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