Lundin Gold Reports Additional High-Grade Drilling Intercepts at FDNS And Updates on Conversion Drilling Program

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Recent drilling results confirm the continuity and growth potential of FDNS as a new high-grade system across the south of FDN

VANCOUVER, BC, November 4, 2024 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce additional results from its ongoing 2024 near-mine and conversion drilling programs at its 100% owned Fruta del Norte (“FDN”) gold mine in southeast Ecuador. Recent drilling results at FDN South (“FDNS”) confirm the continuity and the high-grade nature of this mineralized system across the southern extension of the FDN deposit. The conversion drilling program continued to return high-grade results and confirm mineralization immediately adjacent to mine workings. Highlights from the near mine program and conversion program are outlined below. Detailed results are provided at the end of this release (see Appendix 1).

FDNS Exploration Drilling Highlights (not true widths):

  • Drill hole UGE-S-24-145 intersected 22.67 grams per tonne (“g/t”) of gold (“Au”) over 41.60m from 26.40m, including:
  • 68.81 g/t Au over 4.70m
  • 53.08 g/t Au over 10.80m
  • Drill hole UGE-S-24-175 intersected 15.26 g/t Au over 37.95 m from 19.35 m, including:
  • 65.01 g/t Au over 5.35 m
  • 22.02 g/t Au over 4.30 m
  • Drill hole UGE-S-24-174 intersected 9.02 g/t Au over 26.20 m from 4.60 m, including:
  • 16.20 g/t Au over 12.10 m

Conversion Drilling Highlights (not true widths):

  • Drill hole FDN-C24-140 intersected 8.28 g/t Au over 80.90 m from 143.50 m, including:
  • 31.29 g/t Au over 9.25 m
  • Drill hole FDN-C24-157 intersected 7.00 g/t Au over 46.50 m from 5.00 m, including:
  • 20.17 g/t Au over 10.35 m
  • Drill hole FDN-C24-153 intersected 18.75 g/t Au over 10.90 m from 18.50 m, including:
  • 30.32 g/t Au over 6.40 m

Ron Hochstein, President and CEO, commented, “I am very excited with our drilling programs at the FDN deposit. These results demonstrate that the true potential of FDN has yet to be fully discovered. At FDNS, delineation drilling continues to confirm the continuity of a new high-grade vein system with some of the best drill intercepts achieved to date. In addition, conversion drilling has successfully concluded for the year and has defined several wide, high-grade mineralized zones that we expect to convert from Mineral Resources to Mineral Reserves as part of our updated resource estimate planned to be issued in the first quarter of next year. Both programs continue to highlight a great potential for additional Mineral Reserves at FDN.”

NEAR-MINE EXPLORATION PROGRAM

The Company’s near-mine exploration strategy focuses on extending mine life through the expansion of Mineral Resources at FDN by exploring and delineating new discoveries close to the operation. Ten rigs are currently turning on the FDN near-mine exploration program, three underground and seven on surface. A total of 45,325 metres across 120 holes, from surface and underground, has been completed to date in 2024 as part of the near-mine program. Since the second quarter, the program has concentrated on FDNS.

FDNS

At FDNS, the underground drilling program advanced along strike and at depth, following up on the initial high-grade results in this sector (see news release dated July 31, 2024) (Figure 1 and 2). Since the start of this program in the second quarter, a total of 31 drill holes have been completed, and the results have confirmed a high-grade vein system, of distinct geometry and style when compared to the FDN deposit, in a sector that had been previously defined as lower grade (Figure 2).

The recent drill holes, completed from underground levels 1170 and 1080, showed significant results associated with distinct levels of hydrothermal alteration with chalcedony and manganoan-calcite veins with sulfides and visible gold. Intersections from drill holes UGE-S-24-145 (53.08 g/t Au over 10.80m) and UGE-S-24-175 (65.01 g/t Au over 5.35m), are some of the highest-grade intercepts ever recorded in the sector. All the recent results are being incorporated into a new geological model for this sector and are expected to be part of the update to the FDN Mineral Resource estimate to be completed in the first quarter of next year. Assay results are presented in Tables 1 and 3 at the end of this release. Results are still pending for some drill holes.

The recent drilling results also indicate the expansion potential of this high-grade system at depth as well as south, where additional drill holes from the recently reopened South Portal should further provide opportunities to explore the continuity. The South Portal was installed by the previous owner of FDN, Kinross Gold Corporation. Over the past nine months 465 metres of the 670 metre portal have been dewatered and rehabilitated, and exploration drill platforms constructed. Two underground rigs are currently turning at FDNS.

Figure 1: Map showing FDNS near-mine exploration with selected FDNS exploration drilling results


Figure 2: Cross section (left) and plan view map (right) with selected FDNS exploration drilling results

CONVERSION PROGRAM

The 2024 conversion drilling program was focused on converting Inferred Mineral Resources to Indicated in areas immediately beyond the current Mineral Reserve boundary in the north and central sectors of the FDN deposit. A total of 13,755 metres of underground drilling from 110 drill holes was executed in 2024, and drilling for this year is now complete. All drill results to date have significantly improved the Company’s confidence in the geologic model.

Numerous drill holes have confirmed wide and high-grade intercepts associated with large hydrothermal alteration zones represented by breccias, veining or stockwork zones, very similar in style and geometry to that found in the areas of the north sector currently being mined (see Figure 3). This year’s conversion drilling results are currently being incorporated into the geological model and will form the basis of an updated Mineral Resources and Reserves estimate to be completed during the first quarter of 2025. Complete assay results received to date are presented in Tables 2 and 3 at the end of this release. Some results from the conversion program are pending.

Figure 3: FDN long section showing selected conversion drilling results

Qualified Persons

The technical information contained in this News Release has been reviewed and approved by Andre Oliveira, P. Geo, Vice President, Exploration of the Company, who is a Qualified Person in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Samples consist of half HQ and NQ-size diamond core that are split by diamond saw on site, prepared at the ALS laboratory in Quito, and analysed by 50g fire assay and multi-element (ICP-AES/ICP-MS) at the ALS Laboratory in Lima, Peru. The quality assurance-quality control (“QA-QC”) program of Lundin Gold includes the insertion of certified standards of known gold content, blank and duplicate samples. The remaining half core is retained for verification and reference purposes. For further information on the assay, QA-QC and data verification procedures, please see Lundin Gold’s Annual Information Form dated March 26, 2024, filed under the Company’s profile at www.sedarplus.ca.

Additional Information

The information in this release is subject to the disclosure requirements of Lundin Gold under the EU Market Abuse Regulation. This information was publicly communicated on November 4, 2024 at 3:20 p.m. Pacific Time through the contact persons set out below.

Caution Regarding Forward-Looking Information and Statements

Certain of the information and statements in this press release are considered "forward-looking information" or "forward-looking statements" as those terms are defined under Canadian securities laws (collectively referred to as "forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. By their nature, forward-looking statements and information involve assumptions, inherent risks and uncertainties, many of which are difficult to predict, and are usually beyond the control of management, that could cause actual results to be materially different from those expressed by these forward-looking statements and information. Lundin Gold believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. This information speaks only as of the date of this press release, and the Company will not necessarily update this information, unless required to do so by securities laws.

This press release contains forward-looking information in a number of places, such as in statements relating to the Company’s exploration plans, activities and results and its plans to update its estimates of Mineral Reserves and Resources. There can be no assurance that such statements will prove to be accurate, as Lundin Gold's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in Lundin Gold's Annual Information Form dated March 26, 2004, which is available at www.lundingold.com or www.sedarplus.ca.

Lundin Gold's actual results could differ materially from those anticipated. Factors that could cause actual results to differ materially from any forward-looking statement or that could have a material impact on the Company or the trading price of its shares include: instability in Ecuador; community relations; forecasts relating to production and costs; mining operations; security; non-compliance with laws and regulations and compliance costs; tax changes in Ecuador; waste disposal and tailings; government or regulatory approvals; environmental compliance; gold price; infrastructure; dependence on a single mine; exploration and development; control of Lundin Gold; availability of workforce and labour relations; dividends; information systems and cyber security; Mineral Reserve and Mineral Resource estimates; title matters and surface rights and access; health and safety; human rights; employee misconduct; measures to protect biodiversity; endangered species and critical habitats; global economic conditions; shortages of critical resources; competition for new projects; key talent recruitment and retention; market price of the Company’s shares; social media and reputation; insurance and uninsured risks; pandemics, epidemics or infectious disease outbreak; climate change; illegal mining; conflicts of interest; ability to maintain obligations or comply with debt; violation of anti-bribery and corruption laws; internal controls; claims and legal proceedings; and reclamation obligations.

APPENDIX 1

Table 1: Drillhole assay results from the near-mine drilling program at FDNS reported for thickness versus grade intervals above 14 (m x g/t Au >14). Drill hole intercepts are reported in drill core lengths

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Target Zone
UGE-S-24-135 7.0 10.9 3.9 3.39 7.14 FDNS Underground
UGE-S-24-135 80.3 83.6 3.3 3.19 16.30
UGE-S-24-135 101.5 115 13.5 3.96 20.26
Including 102.5 105.8 3.3 8.74 52.19
UGE-S-24-135 124.4 143.8 19.4 2.15 17.63
UGE-S-24-135 149.8 165.6 15.8 3.35 12.44
UGE-S-24-139 6.0 10 4.0 5.12 6.43 FDNS Underground
UGE-S-24-139 42.6 45.7 3.1 3.21 13.35
UGE-S-24-139 64 70.3 6.3 8.45 46.36
Including 65.8 67.9 2.1 22.31 78.85
UGE-S-24-139 83.1 87.4 4.3 3.24 15.75
UGE-S-24-139 94.2 96.6 2.4 8.73 27.75
UGE-S-24-139 139.1 143.3 4.2 3.21 12.95
UGE-S-24-142 0 6.1 6.1 5.79 4.62 FDNS Underground
UGE-S-24-142 52.9 55.7 2.8 8.65 10.79
UGE-S-24-142 61 75.8 14.8 7.59 15.63
Including 72.8 76.8 4.0 19.42 26.66
UGE-S-24-142 91.6 104.1 12.5 2.90 60.42
Including 91.6 96 4.4 3.95 35.62
UGE-S-24-142 118.7 128.7 10 5.86 32.31
Including 121.6 125.5 3.9 12.68 48.50
UGE-S-24-142 193.3 197.3 4.0 2.11 12.50
UGE-S-24-145 7.9 12.3 4.4 4.73 20.28 FDNS Underground
UGE-S-24-145 26.4 68 41.6 22.67 15.88
Including 40.7 45.4 4.7 68.81 34.89
Including 57.2 68 10.8 53.08 26.49
UGE-S-24-145 81.7 106.8 25.1 3.92 8.80
Including 90.2 98.4 8.2 6.39 10.83
UGE-S-24-150 45.6 49.1 3.5 3.83 3.72 FDNS Underground
UGE-S-24-150 70.8 75.3 4.5 2.98 5.59
UGE-S-24-150 106.9 131.1 24.2 4.46 8.48
Including 121.3 124.9 3.6 16.27 12.73
UGE-S-24-150 141 154.8 13.8 6.85 11.20
Including 143.8 150 6.2 12.01 15.86
UGE-S-24-152 0.4 7.3 6.9 4.67 4.86 FDNS Underground
UGE-S-24-152 127.9 132.8 4.9 5.08 8.59
UGE-S-24-153 106.4 110.4 4 8.44 2.58 FDNS Underground
UGE-S-24-153 146.2 153.3 7.1 9.71 2.30
UGE-S-24-155 78.15 81.15 3 8.91 3.47 FDNS Underground
UGE-S-24-155 122.2 139.1 16.9 6.31 1.38
Including 133.1 139.1 6 8.66 1.69
UGE-S-24-155 156.55 159.95 3.4 6.56 1.15
UGE-S-24-155 174.3 178.1 3.8 8.85 1.22
UGE-S-24-158 125.3 129.3 4 4.34 9.76 FDNS Underground
UGE-S-24-158 136.7 140.7 4 3.88 2.14
UGE-S-24-158 153.2 157.8 4.6 8.08 1.73
UGE-S-24-159 Pending Results FDNS Underground
UGE-S-24-160 Pending Results FDNS Underground
UGE-S-24-163 No Significant Results FDNS Underground
UGE-S-24-164 Pending Results FDNS Underground
UGE-S-24-167 0 4.0 4.0 6.71 6.35 FDNS Underground
UGE-S-24-167 14.6 20.9 6.3 11.03 9.61
UGE-S-24-167 169.4 174.2 4.8 4.12 12.34
UGE-S-24-167 186.8 192.9 6.1 8.52 21.31
UGE-S-24-170 63.75 68.7 4.95 5.12 1.45 FDNS Underground
UGE-S-24-171 Pending Results FDNS Underground
UGE-S-24-174 4.6 30.8 26.2 9.02 37.27 FDNS Underground
Including 4.6 16.7 12.1 16.20 73.14
UGE-S-24-174 46.4 50.4 4.0 7.25 4.71
UGE-S-24-175 19.35 57.3 37.95 15.26 14.38 FDNS Underground
Including 27.9 32.2 4.3 22.02 22.66
Including 44.5 49.85 5.35 65.01 46.54
UGE-S-24-175 96.85 116.7 19.85 7.95 9.80
Including 96.85 102.4 5.55 20.90 14.17
UGE-S-24-176 95.25 99.5 4.25 6.81 10.78 FDNS Underground
UGE-S-24-176 144.2 158.9 14.7 6.10 2.60
Including 144.8 149.2 4.4 12.27 3.60
UGE-S-24-180 Pending Results FDNS Underground
UGE-S-24-184 Pending Results FDNS Underground
UGE-S-24-185 Pending Results FDNS Underground
UGE-S-24-191 Pending Results FDNS Underground
UGE-S-24-192 Pending Results FDNS Underground
UGE-S-24-196 Pending Results FDNS Underground
UGE-S-24-199 Pending Results FDNS Underground

Table 2: Drillhole assay results from the conversion underground drilling program reported for thickness versus grade intervals above 14 (m x g/t Au >14). Drill hole intercepts are reported in drill core lengths and true width

Hole ID From (m) To (m) Interval (m) True Width (m) Au (g/t) Ag (g/t) Target Zone
FDN-C24-137 192.3 205 12.7 8.98 3.85 5.26 Northern Underground
FDN-C24-137 220.85 225.6 4.75 3.36 5.33 6.97
FDN-C24-137 236.95 250.5 13.55 9.58 4.98 5.88
Including 246.05 250.5 4.45 3.15 9.55 10.22
FDN-C24-137 275.4 289.35 13.95 9.86 8.88 7.12
Including 275.4 281.3 5.9 4.17 18.43 11.21
FDN-C24-138 1.9 6.7 4.8 2.75 4.33 3.99 Northern Underground
FDN-C24-138 19.1 26.15 7.05 4.04 4.68 4.90
FDN-C24-138 36.6 45.55 8.95 5.13 3.13 3.03
FDN-C24-139 0 10.2 10.2 5.10 3.65 3.92 Northern Underground
Including 3.8 7.4 3.6 1.80 6.86 5.88
FDN-C24-139 24.3 28.3 4 2.00 5.59 6.10
FDN-C24-139 36.1 43.7 7.6 3.80 6.04 5.78
FDN-C24-140 143.5 224.4 80.9 61.97 8.28 10.59 Northern Underground
Including 167.8 177.05 9.25 7.09 31.29 33.55
Including 199.8 203.55 3.75 2.87 15.50 24.99
FDN-C24-141 0 4.4 4.4 3.81 9.47 16.09 Northern Underground
FDN-C24-141 28 40 12 10.39 1.09 10.65
FDN-C24-141 69.7 76 6.3 5.46 2.25 17.44
FDN-C24-142 80.2 99.4 19.2 12.85 3.26 27.12 Northern Underground
Including 87.65 90.35 2.7 1.81 6.64 28.73
Including 95.2 99.4 4.2 2.81 5.11 34.08
FDN-C24-143 72.05 90.6 18.55 12.41 1.27 10.99 Northern Underground
Including 99.1 103 3.9 2.61 1.67 14.96
Including 112.2 122.6 10.4 6.96 3.00 27.57
FDN-C24-144 8.05 11.55 3.5 3.25 3.10 4.74 Northern Underground
FDN-C24-144 19.25 23.6 4.35 4.03 3.72 3.88
FDN-C24-144 47.4 60 12.6 11.68 4.37 6.15
Including 54 59 5 4.64 8.26 8.04
FDN-C24-145 35.2 39.2 4 2.57 1.28 9.53 Northern Underground
FDN-C24-145 51 56.7 5.7 3.66 1.29 13.80
FDN-C24-145 73 77.05 4.05 2.60 2.51 65.78
FDN-C24-145 94.4 105.7 11.3 7.26 1.79 12.40
FDN-C24-146 26.15 31.8 5.65 5.60 12.89 27.71 Northern Underground
FDN-C24-146 65.3 75 9.7 9.61 7.57 18.09
FDN-C24-147 0 55.7 55.7 51.27 5.42 4.88 Northern Underground
Including 0 7.8 7.8 7.18 15.49 10.88
Including 41.5 47.8 6.3 5.80 9.66 7.44
FDN-C24-148 97.05 103.4 6.35 4.08 4.39 30.72 Northern Underground
FDN-C24-149 38.3 43.25 4.95 2.84 4.02 9.73 Northern Underground
FDN-C24-149 96.3 100.7 4.4 2.83 4.06 38.04
FDN-C24-150 32.6 36.15 3.55 2.09 3.49 4.22 Northern Underground
FDN-C24-150 48 61.6 13.6 7.99 5.88 5.86
Including 49.95 56.3 6.35 3.73 9.74 8.95
FDN-C24-151 16.4 23 6.6 5.72 5.35 11.16 Northern Underground
FDN-C24-151 90.7 95 4.3 3.61 4.99 6.11
FDN-C24-152 70.35 74 3.65 2.63 4.34 82.37 Northern Underground
FDN-C24-152 111.1 117.8 6.7 3.35 8.48 54.84
FDN-C24-152 130.7 135.45 4.75 3.05 6.74 21.90
FDN-C24-153 18.5 29.4 10.9 7.01 18.75 51.88 Northern Underground
Including 21.5 27.9 6.4 4.11 30.32 79.59
FDN-C24-153 128.8 139.1 10.3 6.62 3.57 125.04
Including 129.65 132.7 3.05 1.96 8.23 318.62
FDN-C24-154 No Significant Results Northern Underground
FDN-C24-155 56.6 80 23.4 23.31 5.34 5.29 Northern Underground
Including 56.6 61.05 4.45 4.09 10.88 8.89
Including 72.8 76.5 3.7 3.69 9.53 8.43
FDN-C24-156 28.4 61.9 33.5 33.5 6.09 8.03 Northern Underground
Including 28.9 40.7 11.8 11.8 9.24 9.29
FDN-C24-157 5 51.5 46.5 45.8 7.00 12.75 Northern Underground
Including 5 9.1 4.1 4.04 7.79 9.38
Including 19.1 27.65 8.55 8.42 5.89 11.48
Including 31.85 42.2 10.35 10.19 20.17 30.11
FDN-C24-158 16.8 24.35 7.55 7.18 5.73 68.16 Northern Underground
FDN-C24-158 71.1 80.2 9.1 8.65 4.43 3.80
FDN-C24-158 94.1 98.9 4.8 4.57 3.98 3.52
FDN-C24-159 18.9 23.9 5 4.92 5.11 49.76 Northern Underground
FDN-C24-159 44.1 52.7 8.6 8.31 3.59 8.90
FDN-C24-160 62.4 67.15 4.75 2.72 15.51 38.41 Northern Underground
FDN-C24-161 No Significant Results Northern Underground
FDN-C24-162 68.6 73.05 4.45 1.88 24.06 55.62 Northern Underground
Including 70.5 71.85 1.35 0.57 77.84 106.01
FDN-C24-163 70.55 83.3 12.75 6.76 14.05 46.73 Northern Underground
Including 79.2 83.3 4.1 2.17 23.80 44.21
FDN-C24-163 92.65 104.25 11.6 5.8 6.66 26.58
FDN-C24-164 68.3 72.1 3.8 2.44 7.33 60.31 Northern Underground
FDN-C24-165 63.4 69 5.6 4.59 5.08 33.63 Northern Underground
FDN-C24-166 51.25 56.2 4.95 4.93 23.26 55.50 Northern Underground
FDN-C24-166 75.9 88.9 13 12.95 6.49 5.19
Including 84.7 88.9 4.2 4.18 10.91 6.00
FDN-C24-167 62 68.45 6.45 5.85 11.27 17.16 Northern Underground
Including 63.5 67.45 3.95 3.58 16.33 18.95
FDN-C24-168 82.5 87.1 4.6 2.97 12.19 84.86 Northern Underground
FDN-C24-169 107.4 111.7 4.3 2.15 4.99 10.62 Northern Underground
FDN-C24-169 129.8 133.95 4.15 2.08 7.58 20.16
FDN-C24-169 166.85 171.1 4.25 2.13 6.27 18.31
FDN-C24-170 0 18.15 18.15 10.41 17.46 25.21 Northern Underground
FDN-C24-170 59.8 64.5 4.7 2.7 6.78 67.92
FDN-C24-171 5.4 14.5 9.1 7.88 8.24 7.99 Northern Underground
FDN-C24-171 31.55 39.8 8.25 7.14 10.16 8.25
FDN-C24-172 18.35 23.1 4.75 4.73 9.23 17.93 Northern Underground
FDN-C24-173 Pending Results Northern Underground
FDN-C24-174 35.85 48.8 12.95 12.9 6.27 6.54 Northern Underground
FDN-C24-175 27.9 32.5 4.6 4.32 9.32 9.78 Northern Underground
FDN-C24-175 37.3 41.4 4.1 3.85 5.72 7.68 Northern Underground
FDN-C24-175 48.7 54.55 5.85 5.5 10.10 11.16 Northern Underground
FDN-C24-176 30.3 36.3 6 5.2 8.82 6.08 Northern Underground
FDN-C24-177 Pending Results Northern Underground
FDN-C24-178 Pending Results Northern Underground
FDN-C24-179 Pending Results Northern Underground
FDN-C24-180 Pending Results Northern Underground
FDN-C24-181 Pending Results Northern Underground
FDN-C24-182 Pending Results Northern Underground
FDN-C24-183 Pending Results Northern Underground
FDN-C24-184 Pending Results Northern Underground
FDN-C24-185 Pending Results Northern Underground
FDN-C24-186 Pending Results Northern Underground
FDN-C24-187 Pending Results Northern Underground
FDN-C24-188 Pending Results Northern Underground
FDN-C24-189 Pending Results Northern Underground

Table 3: Collar locations of reported drill holes

Hole ID Target Easting Northing Elevation Azimuth Dip EOH (m) Drilling Type Year
UGE-S-24-150 FDNS 778181 9582366 1184 345 20 163.10 Underground 2024
UGE-S-24-152 FDNS 778178 9582354 1184 298 20 140.00 Underground 2024
UGE-S-24-153 FDNS 778196 9582232 1184 285 -26 230.00 Underground 2024
UGE-S-24-155 FDNS 778197 9582233 1185 268 -4 215.40 Underground 2024
UGE-S-24-158 FDNS 778197 9582235 1185 300 -20 220.00 Underground 2024
UGE-S-24-159 FDNS 778197 9582234 1185 298 -7 250.30 Underground 2024
UGE-S-24-160 FDNS 778197 9582234 1185 323 -5 210.00 Underground 2024
UGE-S-24-163 FDNS 778202 9582150 1191 127 -25 257.70 Underground 2024
UGE-S-24-164 FDNS 778221 9582229 1186 152 20 210.90 Underground 2024
UGE-S-24-167 FDNS 778222 9582229 1186 127 4 209.90 Underground 2024
UGE-S-24-170 FDNS 778197 9582211 1185 239 -10 270.00 Underground 2024
UGE-S-24-171 FDNS 778222 9582231 1187 112 35 200.00 Underground 2024
UGE-S-24-174 FDNS 778222 9582232 1186 84 20 155.00 Underground 2024
UGE-S-24-175 FDNS 778202 9582346 1182 150 -13 199.00 Underground 2024
UGE-S-24-176 FDNS 778197 9582213 1185 250 -5 226.00 Underground 2024
UGE-S-24-180 FDNS 778202 9582346 1182 120 -20 203.00 Underground 2024
UGE-S-24-184 FDNS 778202 9582347 1182 71 -20 181.60 Underground 2024
UGE-S-24-185 FDNS 778202 9582522 1178 118 -30 173.90 Underground 2024
UGE-S-24-191 FDNS 778199 9582797 1180 101 -30 220.00 Underground 2024
UGE-S-24-192 FDNS 778199 9582797 1081 130 -10 248.00 Underground 2024
UGE-S-24-196 FDNS 778199 9582556 1085 60 -35 197.70 Underground 2024
UGE-S-24-199 FDNS 778199 9582552 1087 155 25 300.00 Underground 2024
FDN-C24-149 FDN - Conversion 778072 9583219 1025 280 -53 130.0 Underground 2024
FDN-C24-151 FDN - Conversion 778118 9583349 1053 160 -32 95.0 Underground 2024
FDN-C24-152 FDN - Conversion 778093 9583022 1026 270 -48 146.0 Underground 2024
FDN-C24-153 FDN - Conversion 778093 9583022 1026 248 -50 170.0 Underground 2024
FDN-C24-154 FDN - Conversion 778092 9583023 1026 282 -50 167.4 Underground 2024
FDN-C24-155 FDN - Conversion 778135 9583356 1079 315 -7 80.0 Underground 2024
FDN-C24-156 FDN - Conversion 778135 9583356 1079 295 15 62.8 Underground 2024
FDN-C24-157 FDN - Conversion 778119 9583274 1077 247 -10 90.0 Underground 2024
FDN-C24-158 FDN - Conversion 778090 9582823 1248 267 -7 120.0 Underground 2024
FDN-C24-159 FDN - Conversion 778114 9582820 1248 230 15 80.0 Underground 2024
FDN-C24-160 FDN - Conversion 778075 9583084 1024 302 -53 166.0 Underground 2024
FDN-C24-161 FDN - Conversion 778078 9583280 1026 319 -59 120.0 Underground 2024
FDN-C24-162 FDN - Conversion 778069 9583279 1026 294 -67 124.5 Underground 2024
FDN-C24-163 FDN - Conversion 778069 9583277 1026 256 -64 120.0 Underground 2024
FDN-C24-164 FDN - Conversion 778069 9583278 1026 273 -57 96.0 Underground 2024
FDN-C24-165 FDN - Conversion 778070 9583277 1025 250 -37 88.0 Underground 2024
FDN-C24-166 FDN - Conversion 778114 9582820 1248 211 3 90.0 Underground 2024
FDN-C24-167 FDN - Conversion 778096 9583225 1027 265 26 82.0 Underground 2024
FDN-C24-168 FDN - Conversion 778096 9583223 1024 312 -45 145.3 Underground 2024
FDN-C24-169 FDN - Conversion 778137 9583281 1076 297 -59 218.4 Underground 2024
FDN-C24-170 FDN - Conversion 778114 9583008 1076 268 -56 224.2 Underground 2024
FDN-C24-171 FDN - Conversion 778079 9583380 1054 129 -30 70.0 Underground 2024
FDN-C24-172 FDN - Conversion 778117 9583348 1054 140 -3 55.3 Underground 2024
FDN-C24-173 FDN - Conversion 778131 9583356 1105 300 35 60.0 Underground 2024
FDN-C24-174 FDN - Conversion 778131 9583356 1104 300 5 50.0 Underground 2024
FDN-C24-175 FDN - Conversion 778131 9583356 1103 300 -35 60.0 Underground 2024
FDN-C24-176 FDN - Conversion 778128 9583351 1103 244 -33 67.0 Underground 2024
FDN-C24-177 FDN - Conversion 778146 9583281 1101 322 -26 45.0 Underground 2024
FDN-C24-178 FDN - Conversion 778116 9583346 1221 302 0 44.7 Underground 2024
FDN-C24-179 FDN - Conversion 778104 9583355 1128 309 -47 35.3 Underground 2024
FDN-C24-180 FDN - Conversion 778114 9582819 1248 200 8 135.0 Underground 2024
FDN-C24-181 FDN - Conversion 778114 9582820 1248 211 16 90.0 Underground 2024
FDN-C24-182 FDN - Conversion 778140 9583281 1127 323 -23 50.0 Underground 2024
FDN-C24-183 FDN - Conversion 778111 9583281 1152 325 -38 55.0 Underground 2024
FDN-C24-184 FDN - Conversion 778111 9583346 1170 305 -45 55.0 Underground 2024
FDN-C24-185 FDN - Conversion 778085 9583055 1270 173 30 65.0 Underground 2024
FDN-C24-186 FDN - Conversion 778085 9583055 1269 160 15 120.0 Underground 2024
FDN-C24-187 FDN - Conversion 778085 9583055 1269 100 20 65.0 Underground 2024
FDN-C24-188 FDN - Conversion 778083 9583064 1269 320 17 90.0 Underground 2024
FDN-C24-189 FDN - Conversion 778083 9583064 1269 340 17 155.5 Underground 2024

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For more information, please contact

Ron F. Hochstein
President and CEO
Tel (Ecuador): +593 2-299-6400
Tel (Canada): +1-604-806-3589

ron.hochstein@lundingold.com

Brendan Creaney
Vice President, Corporate Development and Investor Relations
Tel: +1 604-376-4595
brendan.creaney@lundingold.com

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.

The Company's board and management team have extensive expertise in mine operations and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. The Company believes that the value created through the development of Fruta del Norte will benefit its shareholders, the Government and the citizens of Ecuador.

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