News Releases

LUNDIN GOLD REPORTS ADDITIONAL HIGH-GRADE DRILLING INTERCEPTS AT FDNS AND UPDATES ON CONVERSION DRILLING PROGRAM

November 4, 2024

Related Document

Lundin Gold (CNW Group/Lundin Gold Inc.)

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

VANCOUVER, BC, Nov. 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). View PDF

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 (CNW Group/Lundin Gold Inc.)

Figure 2: Cross section (left) and plan view map (right) with selected FDNS exploration drilling results (CNW Group/Lundin Gold Inc.)

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 (CNW Group/Lundin Gold Inc.)

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.

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.

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

LUNDIN GOLD REPORTS ADDITIONAL HIGH-GRADE DRILLING INTERCEPTS AT FDNS AND UPDATES ON CONVERSION DRILLING PROGRAM (CNW Group/Lundin Gold Inc.)

SOURCE Lundin Gold Inc.

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

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