NOT Noront Resources Ltd

Lund Gold Ltd. (TSX VENTURE:LGD) ("Lund") and Noront Resources Ltd. (TSX
VENTURE:NOT) ("Noront") are pleased to release the following project update on
their Lund property. The Lund Property is located approximately 25 km. north
northeast of Noront's Eagle One Magmatic Massive Sulphide discovery in the "Ring
of Fire" area of the James Bay Lowlands. Nakina, Ontario lies approximately 300
km. south - southwest of the property.


The Eagle One deposit has recently been the focus of a 43-101 compliant resource
study that identifies an initial indicated resource of 1,834,000 tonnes grading
1.96% nickel, 1.18% copper, 0.15g/t gold, 1.12g/t platinum, 3.91g/t palladium
and 3.81g/t silver. Additionally, the study outlined an inferred resource of
1,087,000 tonnes grading 2.39% nickel, 1.27% copper, 0.13g/t gold, 1.37g/t
platinum, 4.50g/t palladium and 4.21g/t silver. This discovery was made in late
August of 2007 and kicked off a major staking rush. Over 35 mining companies
currently hold interests in the area that has been loosely dubbed the "Ring of
Fire" by the various participants.


Additional discoveries have been made in the vicinity by the Spider Resources
Inc., KWG Resources Inc. joint venture where as of July 15, 2008 a National
Instrument 43-101 compliant resource of 802,000 tonnes grading 3.75% copper and
1.1% zinc at their Mcfauld's 3 volcanic hosted massive sulphide deposit was
announced. WSR Resources Inc., Metalex Ventures Ltd. and Arctic Star Resources
Inc. have recently announced intersections of Volcanic Derived Sulphides 


Recent Vtem surveys have been completed over the Lund - Noront project area,
known as the Lund Property. Preliminary results indicate the presence of a
number of aeromagnetic and electromagnetic anomalies that indicate the presence
of bedrock conductors. Depending on the results of final interpretation and a
property examination, a follow up program will be outlined for execution during
this year. This program will consist of ground surveys and/or diamond drilling.
Noront is the operator of the project and plans to schedule the follow up to
these airborne surveys over the next month. 


The Lund property consists of 13 claims that total 169 units. For terms of the
agreement please refer to Lund news release dated February 4, 2008. Upon Lund
satisfying the terms of the agreement to earn 50%, a joint venture will be
formed with Noront acting as the Operator. 


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

Chet Idziszek, President

On Behalf of the Board of Directors of NORONT RESOURCES LTD.

Richard Nemis, President and CEO

Cautionary Statement

This document contains "forward-looking statements" within the meaning of
applicable Canadian securities regulations. All statements other than statements
of historical fact herein, including, without limitation, statements regarding
exploration results and plans, and our other future plans and objectives, are
forward-looking statements that involve various risks and uncertainties. Such
forward-looking statements include, without limitation, estimates of exploration
investment and the scope of exploration programs. There can be no assurance that
such statements will prove to be accurate, and future events and actual results
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from our
expectations are disclosed in the Company's documents filed from time to time
via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
Forward-looking statements are based on the estimates and opinions of management
on the date the statements are made, and we do not undertake any obligation to
update forward-looking statements should conditions or our estimates or opinions
change. Forward-looking statements are subject to risks, uncertainties and other
factors, including risks associated with mineral exploration, price volatility
in the mineral commodities we seek, and operational and political risks.

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