VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Further to its news release of February 4, 2008, Lund Gold Ltd. (TSX VENTURE:LGD) ("Lund") is pleased to report that approval has been received from the TSX Venture Exchange pursuant to an option agreement between Lund and Noront Resources Ltd. ("Noront"), a TSX Venture listed company, whereby Lund has been granted the option to acquire a 50% legal and beneficial interest in 13 claim blocks covering a total of 169 units in the 'Ring of Fire', McFauld's Lake, Ontario, near Noront's nickel copper discovery.

Pursuant to the option agreement, Lund has issued to Noront an aggregate of 400,000 common shares of Lund, which are subject to a four month hold period expiring on June 28, 2008. Lund is required to incur aggregate exploration expenditures on the property of $3.5 million over a three year period. Upon Lund's earning its 50% interest in the property, Lund and Noront shall form a joint management committee to further develop the property as a joint venture with Noront continuing to act as the operator.

Chet Idziszek, President of Lund, stated, "Noront's recent announcement of a second massive sulphide discovery at its Double Eagle project provides further evidence of the potential for numerous ore deposits in the McFauld's Lake district. According to Noront, preliminary data from an airborne geophysical survey of the ground we have optioned are expected shortly, and will be an important input to our $1,000,000 program this year."

To find out more about Lund Gold Ltd. (TSX VENTURE:LGD), visit our website at www.lundgold.com.

On behalf of the Board of Directors of LUND GOLD LTD.