History

Building a Leading Gold Company

2006

Discovery

Fruta del Norte discovered in 2006 by Aurelian Resources

2006 Initial Drill Program

Third drill hole of a three-hole drill program intersected an average of 4.14 g/t gold and 8.5 g/t silver over 237.3m.

2007

Initial Inferred Mineral Resource

Estimate was released in late 2007, consisting of 58.9 Mt grading 7.23 g/t gold and 11.8 g/t silver, at a cut-off grade of 2.3 g/t gold-equivalent.

2008-2014

2008 Acquisition

Kinross Gold Corporation acquired the asset in 2008 for approximately C$1.2 billion.

Further drilling, Mineral Resource updates, and PFS

Kinross announced that it would not proceed with development of the Fruta del Norte project.

2014

Lundin Gold acquired Fruta del Norte

In December 2014, Lundin Gold acquired Fruta del Norte from Kinross, along with Kinross’s other concessions in Ecuador for US$240 million.

2016

Independent Feasibility Study

The Company completed an independent feasibility study for the Fruta del Norte project

Mine Development

Commenced development of the Fruta del Norte mine

2017-2019

Development & Construction

Lundin Gold focused on the development and construction of Fruta del Norte

Financing

Company secured the necessary financing

2019

Initial Gold Production

Lundin Gold had met its objective of achieving first gold production at Fruta del Norte

2020

Commercial Production

Reached commercial production at Fruta del Norte


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