Lundin Gold Reports Further High Grade Results at FDNS Including 91.3 g/t over 20.65 Metres and Expands the Mineralized Footprint at FDN East

Executive Summary

• Lundin Gold announced exceptionally high‑grade intercepts from ongoing conversion and near‑mine exploration drilling at the Fruta del Norte South (FDNS) and FDN East deposits in Ecuador, including 92.37 g/t Au over 4.55 m (including 1,010 g/t Au over 0.40 m) and 91.32 g/t Au over 20.65 m (including 405.57 g/t Au over 2.80 m).
• The results expand the known mineralized footprint at FDN East by ~150 m beyond the inaugural resource, supporting Lundin’s geological model of a broader epithermal trend that may extend up to a kilometre toward the Sandia porphyry.
• Planned 2026 drilling program will exceed 133,000 m (17 rigs), the largest campaign ever on the FDN land package, underscoring continued reserve growth potential.

Key Details

• FDNS Conversion Drilling Highlights (core lengths, not true widths):
• Hole FDN‑C25‑323: 92.37 g/t Au over 4.55 m from 75.85 m; includes 1,010 g/t Au over 0.40 m.
• Hole FDN‑C25‑365: 41.23 g/t Au over 8.40 m from 12.05 m; includes 131.86 g/t Au over 2.35 m.
• Hole FDN‑C25‑364: 30.82 g/t Au over 8.30 m from 35.60 m; includes 67.53 g/t Au over 3.45 m.

• Hole FDN‑C25‑359: 98.06 g/t Au over 5.80 m from 28.45 m; includes 405.08 g/t Au over 1.20 m.

• FDNS Exploration Drilling Highlights (core lengths):

• Hole UGE‑S‑25‑384: 91.32 g/t Au over 20.65 m from 91.75 m; includes 405.57 g/t Au over 2.80 m.

• Hole UGE‑S‑25‑395: 18.44 g/t Au over 3.40 m from 226.20 m; includes 59.0 g/t Au over 1.0 m.

• FDN East Exploration Highlights (core lengths):

• Hole UGE‑E‑25‑401: 12.75 g/t Au over 7.45 m from 479.50 m; includes 47.67 g/t Au over 1.80 m (far eastern extension).

• Hole UGE‑E‑25‑361: 42.41 g/t Au over 2.10 m from 137.40 m; includes 220.00 g/t Au over 0.40 m.

• Program Scale:

• 2025 drilling completed >121,519 m across 383 holes.

• 2026 program targets ≥133,000 m with 17 rigs (conversion + near‑mine exploration), the largest ever on the FDN package.

• Strategic Implications:

• Results support further Mineral Reserve expansion at FDNS and indicate significant untapped potential in both northern/southern extensions of FDNS and eastward extension of FDN East.

• Ongoing seismic work suggests a concealed mineralized trend that could add substantial resources pending follow‑up drilling.

• Qualified Person: Andre Oliveira, P.Geo., VP Exploration (NI 43‑101 qualified).

Notable Quotes

“These results continue to demonstrate the strength and scale of the Fruta del Norte epithermal gold system… collectively, these results highlight the exceptional growth pipeline at Fruta del Norte.” – Jamie Beck, President & CEO.