LGL Luiri Gold Limited

Luiri Gold Limited (TSX VENTURE: LGL)(ASX: LGM) ("Luiri" or the "Company") has become aware that Carlton Resources Plc ("Carlton") has approached at least one major shareholder of the Company to enter into a Lock up Agreement ("Lock up Agreement") to accept a conditional proportional cash takeover offer for 66 2/3% of all of the shares in Luiri at a price of A$0.20 per share ("Proposed Takeover Offer"). The Company is unaware whether any Lock Up Agreement has been entered into by any shareholders.

At this stage Luiri has not received Carlton's Proposed Takeover Offer and the Directors of Luiri are not yet in a position to make a formal recommendation to shareholders.

Luiri has appointed Euroz Securities Limited ("Euroz") to advise in respect of the Proposed Takeover Offer and to assist the Directors of Luiri to evaluate and respond to the approach from Carlton.

The Directors expect to be able to provide a further update to shareholders once additional information is available.

For further information contact:

Michael Sperinck, the President of Luiri Gold or Doug Young at Euroz should they have any queries in relation to the Lock up Agreement.

ON BEHALF OF THE BOARD OF DIRECTORS OF LUIRI GOLD LIMITED

Michael Sperinck, President, Managing Director and CEO

This press release contains forward-looking information which involves risks and uncertainties. Forward looking information represents management's current views and these may change significantly as new information comes to hand.

NEITHER THE TSX VENTURE EXCHANGE NOR THE ASX HAS REVIEWED THIS RELEASE AND NEITHER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts: Luiri Gold Limited Michael Sperinck President +61 401 694 322 Euroz Doug Young +61 8 9488 1434 Luiri Gold's North American Investor Relations Daniel Boase at First Canadian Capital Corp. +1 416 742 5600 / Toll Free: 1 866 580 8891 request@firstcanadiancapital.com www.luirigold.com