News Releases

LUNDIN GOLD REPORTS SIGNIFICANT DRILLING INTERCEPTS FROM ITS CONVERSION PROGRAM AT THE FRUTA DEL NORTE DEPOSIT

November 21, 2022

Related Document

Lundin Gold (CNW Group/Lundin Gold Inc.)

VANCOUVER, BC, Nov. 21, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce results from its conversion drilling program at its 100% owned Fruta del Norte gold mine in southeast Ecuador. The conversion drilling program, targeting Inferred Mineral Resources ("Inferred Resources") along the southern extension of the Fruta del Norte deposit, aims to extend the mine life by converting Inferred Resources. Results obtained have confirmed the wide, consistent nature of mineralization throughout the southern sector and have also generated new targets outside of the resource envelope for further work as part of the Company's near mine program. PDF Version

Ron Hochstein, President and CEO, commented, "I am pleased to announce these exciting drill results, which have confirmed the continuity of mineralization along the southern extension of our current Inferred Resources and will support the completion of a Mineral Reserve and Resource update and subsequent 43-101 report, anticipated to be released in the first quarter of 2023. Additionally, several of these results suggest that Fruta del Norte remains open at depth and underlines the significant potential for resource growth through the near mine exploration program."

CONVERSION DRILLING PROGRAM

Since 2021, the Company has been advancing its conversion program at Fruta del Norte, with the objective of converting Inferred Resources to Measured or Indicated Resources. The Fruta del Norte deposit is currently estimated to contain a large Inferred Resource of approximately 11.6 million tonnes averaging 5.69 grams per tonne ("g/t") gold, containing 2,130,300 ounces of gold. A total of 18,340 metres of underground drilling across 88 drill holes has been completed, the results of which will improve confidence in and further support the geological model and assist the Company in preparing an update to the current Mineral Reserve and Resource estimate at Fruta del Norte.

Numerous drill holes returned high grade intercepts associated with a hydrothermal alteration zone with veins, veinlets and minor breccias or stockwork zones hosted by a volcanic rock domain (see Table 1). These results confirm that the mineralized zone extends a further 300 metres past the current Fruta del Norte Mineral Reserve boundary, in the southern direction (see Figure 1). Some of the most notable results include the following drill intercepts (not true width):

  • 12.57 g/t of gold over 101.30 metres (FDN22-229)
  • 10.76 g/t of gold over 163.20 metres (FDN21-112)
  • 12.67 g/t of gold over 98.30 metres (FDN21-165)
  • 17.93 g/t of gold over 51.45 metres (FDN22-198)

Complete assay results for the entire conversion drilling program can be found in Tables 3 and 4 in the Appendix.

Results from the conversion program allow for better delineation of the distribution and controls of higher-grade mineralized zones within the known Inferred Resource and significantly enhance the southern extension in the current geological model. The Company is in the process of analyzing the full set of this data with the objective of preparing an updated estimate of Mineral Reserves and Resources for Fruta del Norte in accordance with National Instrument 43-101 ("NI 43-101") by the end of the first quarter of 2023. Based on the new geological model, further conversion drilling targets will be defined for 2023 and 2024.

Table 1: Highlights of Fruta del Norte conversion drilling for intervals greater than 3.5 g/t1 and minimum drilling length of 4 metres. All drill hole intercepts are reported in drilling lengths.

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

FDN21-078

0.00

104.10

104.10

6.78

14.99

including

57.00

65.60

8.60

47.43

47.12

FDN21-112

0.00

163.20

163.20

10.76

7.10

including

26.90

55.50

28.60

49.83

22.16

FDN21-160

0.00

81.65

81.65

10.64

4.48

FDN21-160

85.65

159.25

73.60

6.18

5.38

including

113.00

118.00

5.00

34.87

3.22

FDN21-165

74.55

172.85

98.30

12.67

5.55

including

75.50

84.90

9.40

83.98

25.82

FDN21-167

77.00

185.00

108.00

6.75

5.33

including

128.00

141.70

13.70

10.67

6.15

FDN21-168

0.00

84.00

84.00

7.71

7.47

including

65.70

70.45

4.75

126.70

68.84

FDN22-198

62.40

113.85

51.45

17.93

10.69

including

67.45

88.00

20.55

43.54

13.24

FDN22-229

0.00

101.30

101.30

12.57

8.31

including

38.20

53.00

14.80

68.42

17.44

 

_______________________________

1 Mineral Resources are reported at a cut-off grade of 3.5 g/t Au; which was calculated using a long term gold price of US$1,500/oz.

Figure 1: Fruta del Norte north-south longitudinal section and some significant results from conversion drilling

Figure 1: Fruta del Norte north-south longitudinal section and some significant results from conversion drilling (CNW Group/Lundin Gold Inc.)

POTENTIAL AREAS FOR EXPANSION AT DEPTH AT FRUTA DEL NORTE

In addition to supporting the conversion of Inferred Resources, some conversion drilling results have also provided additional targets for our near mine exploration program. These drilling intercepts from the deepest boundary of the Fruta del Norte mineral resource envelope indicate that the deposit remains open at depth. The results have defined new potential areas for resource growth, below the defined mineral resource envelope in the north sector and along the southern extension (see Figure 2).

Most of the drilling results obtained are of a hydrothermal alteration similar to that occurring in Fruta del Norte's Mineral Reserves, where the mine is currently operating (see Table 2). In the northern part of the deposit, drill holes intercepted wide hydrothermal alteration zones represented by breccias, veining or stockwork zones, very similar in style and geometry to that found in the area currently being mined. In the southern extension, the Fruta del Norte deposit changes to a veining dominant style hosted in volcanic rocks, with drilling results suggesting potential for growth along the downdip continuity.

The near mine program currently has one underground rig turning, which is further investigating the continuity of the Fruta del Norte system at depth, in both the north and south sectors. In addition to the underground rig, the program includes two surface rigs testing the southerly extension of Fruta del Norte. To the end of October, 6,190 metres have been drilled on this program.

Table 2: Highlights from Fruta del Norte drilling at depth for intervals greater than 3.5 g/t1 and minimum drilling length of 4 metres. All drill hole intercepts are reported in drilling lengths.

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

FDN21-129

160.60

169.60

9.00

6.51

1.78

FDN21-151

108.55

125.00

16.45

6.01

6.11

FDN21-152

132.50

141.00

8.50

8.72

16.72

FDN22-217

192.10

203.20

11.10

17.22

4.62

FDN22-227

137.85

180.00

42.15

4.27

1.78

including

161.00

177.40

16.40

7.29

3.07

FDN22-233

132.45

169.45

37.00

3.77

1.46

including

132.45

142.55

10.10

4.77

2.03

including

162.85

169.45

6.60

5.21

1.36

Figure 2: Fruta del Norte north-south longitudinal section and conversion drilling results indicate new areas to explore at depth

Figure 2: Fruta del Norte north-south longitudinal section and conversion drilling results indicate new areas to explore at depth (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 NI 43-101.

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, QAQC and data verification procedures, please see Lundin Gold's Annual Information Form dated March 21, 2022, filed under the Company's profile on SEDAR (www.sedar.com).

_____________________________

1 Mineral Resources are reported at a cut-off grade of 3.5 g/t Au; which was calculated using a long term gold price of US$1,500/oz.

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 21, 2022 at 2:00 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 activities and results, such as efforts to expand Mineral Resources estimates, upgrade Inferred Resources to other higher categories of Mineral Resources and to prepare an update to estimates of Mineral Resources and Reserves at Fruta del Norte. 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 21, 2022, which is available at www.lundingold.com or on SEDAR.

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: risks associated with the Company's community relationships; risks related to political and economic instability in Ecuador; risks related to estimates of production, cash flows and costs; the impacts of a pandemic virus outbreak; risks inherent to mining operations; failure of the Company to maintain its obligations under its debt facilities; shortages of critical supplies; control of the Company's largest shareholders; risks related to Lundin Gold's compliance with environmental laws and liability for environmental contamination; the lack of availability of infrastructure; the Company's reliance on one mine; exploration and development risks; risks related to the Company's ability to obtain, maintain or renew regulatory approvals, permits and licenses; uncertainty with the tax regime in Ecuador; risks related to the Company's workforce and its labour relations; volatility in the price of gold; the reliance of the Company on its information systems and the risk of cyber-attacks on those systems; deficient or vulnerable title to concessions, easements and surface rights; inherent safety hazards and risk to the health and safety of the Company's employees and contractors; the imprecision of Mineral Reserve and Resource estimates; key talent recruitment and retention of key personnel; volatility in the market price of the Company's shares; measures to protect endangered species and critical habitats; social media and reputation; the cost of non-compliance and compliance costs; risks related to illegal mining; the adequacy of the Company's insurance; risks relating to the declaration of dividends; uncertainty as to reclamation and decommissioning; the ability of Lundin Gold to ensure compliance with anti-bribery and anti-corruption laws; the uncertainty regarding risks posed by climate change; limits of disclosure and internal controls; security risks to the Company, its assets and its personnel; the potential for litigation; and risks due to conflicts of interest.

APPENDIX

Figure 3: Map of the conversion drilling program

Figure 3: Map of the conversion drilling program (CNW Group/Lundin Gold Inc.)

Table 3: Drillhole assay results from Fruta del Norte conversion drilling program reported for intervals above 3.5 g/t and minimum drilling length of 4 metres.

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

FDN20-067

Not Significant results

FDN21-077

69.60

152.80

83.20

5.73

6.50

FDN21-078

0.00

104.10

104.10

6.78

14.99

FDN21-079

104.40

181.50

77.10

5.01

6.03

FDN21-092

Not Significant results

FDN21-095

82.50

148.00

65.50

5.35

5.31

FDN21-097

138.30

179.00

40.70

3.84

2.67

FDN21-098

89.60

155.10

65.50

4.07

2.50

FDN21-100

93.50

137.70

44.20

5.76

9.70

FDN21-102

Not Significant results

FDN21-104

Not Significant results

FDN21-105

72.75

90.65

17.90

18.51

9.45

138.00

186.40

48.40

4.53

2.12

FDN21-109

Not Significant results

FDN21-111

0.00

43.70

43.70

5.83

7.82

FDN21-112

0.00

163.20

163.20

10.76

7.10

FDN21-114

21.50

106.50

85.00

4.23

6.50

FDN21-116

17.00

100.00

83.00

3.49

5.23

FDN21-117

Not Significant results

FDN21-119

0.00

10.00

10.00

25.27

16.09

FDN21-121

0.00

11.40

11.40

10.44

8.92

189.20

196.80

7.60

5.10

0.77

FDN21-123

Not Assays

FDN21-125

0.00

9.20

9.20

11.38

8.31

192.00

202.85

10.85

8.21

1.68

FDN21-127

Not Significant results

FDN21-129

160.60

169.60

9.00

6.51

1.78

FDN21-130

116.20

158.70

42.50

6.86

3.00

FDN21-132

Not Significant results

FDN21-134

104.40

161.00

56.60

4.08

2.20

FDN21-136

134.55

168.40

33.85

6.22

2.06

FDN21-138

108.45

173.10

64.65

8.54

3.67

FDN21-140

128.75

170.70

41.95

3.86

1.44

FDN21-142

115.40

168.70

53.30

5.65

3.25

FDN21-144

151.30

160.20

8.90

6.19

2.96

FDN21-147

0.00

99.45

99.45

4.56

4.87

FDN21-149

0.00

105.20

105.20

4.34

5.64

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

FDN21-151

108.55

125.00

16.45

6.01

6.11

FDN21-152

132.50

141.00

8.50

8.72

16.72

FDN21-154

Not Significant results

FDN21-156

Not Significant results

FDN21-158

Not Significant results

FDN21-160

0.00

81.65

81.65

10.64

4.48

85.65

159.25

73.60

6.18

5.38

FDN21-162

90.00

166.65

76.65

4.18

2.69

FDN21-164

Not Significant results

FDN21-165

74.55

172.85

98.30

12.67

5.55

FDN21-166

69.25

176.00

106.75

4.47

2.38

FDN21-167

77.00

185.00

108.00

6.75

5.33

FDN21-168

0.00

84.00

84.00

7.71

7.47

156.35

170.40

14.05

5.05

3.61

FDN21-169

91.10

174.85

83.75

6.59

2.56

FDN21-170

88.70

173.00

84.30

4.93

3.18

FDN21-171

68.00

167.00

99.00

4.51

4.98

FDN21-172

64.60

194.00

129.40

5.92

4.59

FDN21-173

78.20

197.00

118.80

4.40

4.76

FDN21-174

167.45

176.50

9.05

3.94

3.87

FDN22-175

Not Significant results

FDN22-176

Not Significant results

FDN22-178

175.00

180.50

5.50

5.83

5.06

FDN22-180

Not Significant results

FDN22-182

Not Significant results

FDN22-184

Not Significant results

FDN22-186

Not Significant results

FDN22-189

Not Significant results

FDN22-191

Not Significant results

FDN22-194

Not Significant results

FDN22-196

95.30

147.00

51.70

5.94

3.26

FDN22-198

62.40

113.85

51.45

17.93

10.69

FDN22-199

Not Significant results

FDN22-201

65.00

107.75

42.75

4.51

7.90

FDN22-203

Not Significant results

FDN22-205

Not Significant results

FDN22-207

0.00

101.00

101.00

6.80

6.18

FDN22-209

Not Significant results

FDN22-211

93.25

104.00

10.75

33.61

17.87

FDN22-213

91.40

152.55

61.15

4.65

3.98

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

FDN22-215

99.00

148.60

49.60

8.78

3.76

FDN22-217

192.10

203.20

11.10

17.22

4.62

FDN22-219

Not Significant results

FDN22-221

117.90

165.65

47.75

3.64

1.93

FDN22-222

Not Significant results

FDN22-225

Not Significant results

FDN22-227

137.85

180.00

42.15

4.27

1.78

FDN22-228

63.00

99.80

36.80

3.94

9.61

FDN22-229

0.00

101.30

101.30

12.57

8.31

FDN22-230

0.00

25.40

25.40

7.86

6.94

FDN22-231

14.70

141.20

126.50

6.39

5.81

FDN22-232

0.00

24.00

24.00

3.70

3.90

FDN22-233

0.00

15.00

15.00

5.52

5.03

132.45

169.45

37.00

3.77

1.46

FDN22-234

119.60

139.70

20.10

3.72

0.98

FDN22-235

0.00

20.00

20.00

7.57

4.18

FDN22-236

80.00

111.60

31.60

8.43

4.74

Table 4: Collar locations of reported drill holes

Hole ID

Prospect

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

FDN20-067

Conversion

778166.37

9582835.39

1198.01

239.65

6.26

203.20

FDN21-077

Conversion

778166.38

9582835.94

1197.98

262.15

16.31

183.20

FDN21-078

Conversion

778166.12

9582835.69

1198.91

261.85

-15.68

139.40

FDN21-079

Conversion

778166.61

9582836.01

1198.78

277.08

-14.59

208.00

FDN21-092

Conversion

778176.14

9582705.08

1176.20

255.26

1.95

201.10

FDN21-095

Conversion

778175.97

9582705.12

1175.64

254.99

16.94

203.70

FDN21-097

Conversion

778176.15

9582704.35

1175.35

243.28

21.04

251.50

FDN21-098

Conversion

778176.12

9582705.50

1175.66

268.28

17.11

249.50

FDN21-100

Conversion

778176.13

9582705.58

1176.76

268.01

-11.10

209.80

FDN21-102

Conversion

778176.27

9582704.69

1177.20

255.10

-17.95

174.60

FDN21-104

Conversion

778176.30

9582704.27

1176.87

243.09

-11.06

156.70

FDN21-105

Conversion

778177.55

9582705.27

1175.40

268.12

27.97

352.70

FDN21-109

Conversion

778173.66

9582525.53

1179.79

294.32

10.10

207.70

FDN21-111

Conversion

778173.64

9582525.21

1180.48

290.21

-6.02

183.40

FDN21-112

Conversion

778173.62

9582525.29

1179.26

290.12

29.98

231.30

FDN21-114

Conversion

778173.59

9582524.26

1180.65

270.08

-8.94

177.10

FDN21-116

Conversion

778173.57

9582523.98

1179.92

270.14

8.75

192.20

FDN21-117

Conversion

778173.62

9582522.79

1181.62

242.30

-7.19

225.00

FDN21-119

Conversion

778173.75

9582522.99

1179.72

245.20

14.99

213.20

FDN21-121

Conversion

778173.96

9582523.12

1179.00

245.15

45.05

245.80

FDN21-123

Conversion

778173.94

9582522.12

1179.81

229.32

10.19

266.90

FDN21-125

Conversion

778174.35

9582522.49

1179.08

229.30

37.93

253.70

FDN21-127

Conversion

778172.46

9582798.09

1082.47

268.88

-16.13

192.00

FDN21-129

Conversion

778172.70

9582798.17

1081.27

271.19

19.85

204.10

FDN21-130

Conversion

778172.49

9582797.39

1082.45

254.03

-14.85

210.10

FDN21-132

Conversion

778173.69

9582797.77

1081.40

254.29

22.05

200.70

FDN21-134

Conversion

778172.64

9582797.34

1081.71

265.17

-1.15

186.10

FDN21-136

Conversion

778172.63

9582796.58

1082.23

242.13

-9.90

210.10

FDN21-138

Conversion

778172.37

9582798.42

1082.25

282.23

-10.96

193.20

FDN21-140

Conversion

778172.62

9582796.99

1081.68

250.42

-0.99

191.50

FDN21-142

Conversion

778172.48

9582798.35

1081.74

279.00

-0.17

221.10

FDN21-144

Conversion

778172.49

9582798.02

1081.39

280.32

15.23

263.60

FDN21-147

Conversion

778136.69

9583287.10

1077.05

320.42

25.05

188.80

FDN21-149

Conversion

778136.62

9583286.96

1076.88

315.05

31.85

191.60

FDN21-151

Conversion

778136.64

9583286.58

1076.97

300.93

34.02

209.20

Hole ID

Prospect

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

FDN21-152

Conversion

778136.51

9583286.89

1076.49

291.71

39.59

224.60

FDN21-154

Conversion

778147.00

9583254.61

1075.52

291.88

39.82

200.80

FDN21-156

Conversion

778147.00

9583254.66

1075.52

275.62

40.02

212.10

FDN21-158

Conversion

778147.36

9583254.07

1075.91

263.35

37.18

230.70

FDN21-160

Conversion

778185.56

9582769.79

1174.65

260.22

-4.20

222.10

FDN21-162

Conversion

778185.58

9582769.95

1174.20

263.29

8.14

206.20

FDN21-164

Conversion

778185.63

9582770.21

1175.06

268.39

-13.02

219.90

FDN21-165

Conversion

778185.48

9582770.42

1174.43

272.11

2.02

202.00

FDN21-166

Conversion

778185.48

9582770.42

1174.13

270.25

15.33

215.60

FDN21-167

Conversion

778185.34

9582770.88

1174.22

279.77

7.76

200.70

FDN21-168

Conversion

778185.34

9582770.81

1174.80

278.16

-6.03

215.00

FDN21-169

Conversion

778185.48

9582769.83

1174.44

247.17

3.17

213.20

FDN21-170

Conversion

778185.41

9582770.49

1174.74

271.07

-4.11

201.70

FDN21-171

Conversion

778185.40

9582770.49

1174.17

273.30

10.21

198.20

FDN21-172

Conversion

778185.33

9582770.66

1173.75

274.09

22.23

203.70

FDN21-173

Conversion

778185.83

9582771.26

1174.06

286.92

13.13

212.40

FDN21-174

Conversion

778185.32

9582770.90

1174.45

281.87

-0.15

211.80

FDN22-175

Conversion

778185.41

9582771.39

1174.63

289.30

-3.84

221.80

FDN22-176

Conversion

778185.43

9582771.29

1175.13

287.27

-12.87

212.40

FDN22-178

Conversion

778186.49

9582770.77

1175.25

278.28

-18.10

220.20

FDN22-180

Conversion

778185.54

9582770.18

1175.44

262.28

-19.10

208.20

FDN22-182

Conversion

778176.19

9582706.90

1174.74

289.98

40.38

251.60

FDN22-184

Conversion

778176.70

9582705.90

1174.68

269.34

47.98

251.00

FDN22-186

Conversion

778177.28

9582705.67

1174.73

259.70

57.02

285.80

FDN22-189

Conversion

778176.52

9582705.22

1174.93

255.02

40.17

251.50

FDN22-191

Conversion

778176.28

9582706.27

1178.09

277.00

-30.76

170.00

FDN22-194

Conversion

778178.69

9582608.32

1178.65

270.02

-0.07

201.00

FDN22-196

Conversion

778178.60

9582608.36

1178.16

270.05

9.89

204.20

FDN22-198

Conversion

778178.52

9582608.74

1179.44

273.96

-14.95

133.80

FDN22-199

Conversion

778178.62

9582608.19

1177.52

273.05

21.74

194.40

FDN22-201

Conversion

778178.52

9582608.93

1178.52

281.20

-3.99

201.00

FDN22-203

Conversion

778178.49

9582608.95

1178.18

283.20

7.14

207.00

FDN22-205

Conversion

778178.51

9582609.04

1177.59

284.93

29.95

210.10

FDN22-207

Conversion

778178.59

9582608.03

1178.35

260.28

-0.13

200.60

FDN22-209

Conversion

778178.63

9582608.04

1177.80

260.03

20.02

201.00

FDN22-211

Conversion

778178.65

9582608.14

1179.34

260.19

-20.09

151.90

FDN22-213

Conversion

778178.57

9582607.74

1178.01

252.53

12.86

201.10

Hole ID

Prospect

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

FDN22-215

Conversion

778178.56

9582607.53

1178.25

249.83

4.16

206.10

FDN22-217

Conversion

778178.56

9582607.35

1177.64

259.88

39.02

243.60

FDN22-219

Conversion

778178.56

9582608.67

1177.72

277.03

27.89

206.20

FDN22-221

Conversion

778178.53

9582607.95

1177.63

259.81

28.00

206.00

FDN22-222

Conversion

778178.47

9582608.69

1177.86

279.18

15.14

198.10

FDN22-225

Conversion

778179.07

9582608.04

1177.55

266.95

27.00

224.55

FDN22-227

Conversion

778179.04

9582608.75

1177.89

268.94

34.07

207.80

FDN22-228

Conversion

778178.62

9582608.08

1177.54

267.01

17.02

195.20

FDN22-229

Conversion

778173.71

9582524.16

1180.01

270.07

-0.82

204.55

FDN22-230

Conversion

778173.78

9582524.27

1181.67

270.31

-29.93

134.15

FDN22-231

Conversion

778173.71

9582523.94

1179.34

265.43

20.10

182.70

FDN22-232

Conversion

778173.72

9582524.69

1178.55

280.04

47.03

236.50

FDN22-233

Conversion

778173.80

9582523.83

1178.79

265.27

38.10

205.45

FDN22-234

Conversion

778173.71

9582524.63

1179.24

279.89

21.91

196.20

FDN22-235

Conversion

778173.70

9582524.53

1178.91

275.03

33.18

188.35

FDN22-236

Conversion

778173.58

9582525.07

1181.15

285.01

-24.01

144.70

 

LUNDIN GOLD REPORTS SIGNIFICANT DRILLING INTERCEPTS FROM ITS CONVERSION PROGRAM AT THE FRUTA DEL NORTE DEPOSIT (CNW Group/Lundin Gold Inc.)

SOURCE Lundin Gold Inc.

Ron F. Hochstein, President and CEO, Tel (Ecuador): +593 2-299-6400, Tel (Canada): +1-604-806-3589, ron.hochstein@lundingold.com; Finlay Heppenstall, Director, Investor Relations, Tel: +1 604 806 3089, |finlay.heppenstall@lundingold.com

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All rights reserved.