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Lundin Gold Reports 667.78 g/t over 7.50 Metres and 523.01 g/t Au over 8.25 Metres at FDNS

05.05.2026  |  CNW

Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report additional strong results from its ongoing conversion and near‑mine exploration drilling programs at the Fruta del Norte ("FDN") gold mine in southeast Ecuador. PDF Version

The drilling programs delivered positive results across FDN, FDNS, and FDN East within the Company's mining property. Notably, recent conversion drilling at FDNS delivered two of the highest grade‑thickness gold intercepts ever drilled at FDN, underscoring the growing importance of FDNS as a major source of high‑grade mineralization and supporting continued Mineral Resource and Mineral Reserve growth.

Highlights

Conversion Drilling

  • FDNS: Recent drilling returned the highest‑grade intercepts ever recorded at FDNS, including two intervals that rank as the second and fourth highest grade-thickness gold intercepts drilled across the entire FDN mining property (Figure 1), reinforcing FDNS as a primary driver of recent and ongoing Mineral Resource and Mineral Reserve growth.

Exploration Drilling

  • FDNS: Successfully confirmed mineralization continuity along the downdip extension of the deposit, outside the current Mineral Resource envelope, and highlighted areas with meaningful potential for further expansion.
  • FDN East: Drilling confirmed northward continuity of the vein system beyond the inaugural Mineral Resource, returning the highest‑grade interval ever recorded at FDN East, and demonstrated continuity of newly discovered eastern veins, highlighting an expanding footprint and additional exploration upside.
  • FDN: Drilling intercepted the upper continuity of the main FDN mineral envelope close to existing underground infrastructure, identifying additional near‑mine expansion opportunities.

Jamie Beck, President and CEO, commented, "Conversion drilling at FDNS has consistently delivered some of the best results at FDN since its discovery, and these results are no exception, including two of the highest grade-thickness gold intercepts ever drilled at Fruta del Norte. Exceptional systems tend to surprise to the upside, and it is clear there remains significant potential for additional expansion.

At FDN East, the highest‑grade interval ever reported along the extension of the mineral envelope confirms meaningful exploration upside, while at FDN, positive results close to existing underground development highlight opportunities for further growth. With 17 rigs currently operating at site between the epithermal gold deposits and copper gold porphyry targets, we remain confident in our ability to continue creating value through disciplined exploration across this remarkable mining district."

Conversion Drilling Program Highlights (not true widths)

FDNS

  • Drill hole FDN-C25-374 intersected 667.78 grams per tonne ("g/t") of gold ("Au") over 7.50m from 19.15m, including:
    • 4,710 g/t Au over 0.60m
  • Drill hole FDN-C26-380 intersected 523.01 g/t Au over 8.25m from 22.55m, including:
    • 2,389.51 g/t Au over 1.80m
  • Drill hole FDN-C26-389 intersected 17.47 g/t Au over 8.85m from 16.70m, including:
    • 110.06 g/t Au over 1.20m
  • Drill hole FDN-C26-379 intersected 16.13 g/t Au over 7.00m from 54.45m, including:
    • 31.42 g/t Au over 3.25m

Exploration Drilling Program Highlights (not true widths)

FDNS

  • Drill hole UGE-S-26-472 intersected 22.97 g/t Au over 5.00m from 46.90m, including:
    • 56.15 g/t Au over 1.35m

FDN East

  • Drill hole UGE-E-26-429 intersected 169.93 g/t Au over 4.20 m from 427.50m including:
    • 712 g/t Au over 1.00m
  • Drill hole UGE-E-25-425 intersected 20.34 g/t Au over 5.90m from 299.00m, including:
    • 61.21 g/t Au over 1.80m

FDN

  • Drill hole UGE-26-479 intersected 10.55 g/t Au over 23.55 m from 58.15m including:
    • 24.90 g/t Au over 2.30m
  • Drill hole UGE-26-461 intersected 8.32 g/t Au over 7.85m from 74.85m, including:
    • 15.71 g/t Au over 3.40m

DRILLING PROGRAMS

Lundin Gold's near‑mine exploration strategy is focused on extending mine life through the discovery and delineation of new mineralized zones near existing infrastructure. Since the start of commercial production, these efforts have contributed to significant Mineral Reserve growth.

2026 is set to be a landmark year for the Company, with the largest exploration program in its history, totaling approximately 133,000 metres of planned drilling. Conversion and near‑mine exploration activities will account for approximately 125,000 metres, combining surface and underground drilling aimed at Mineral Resource conversion, the discovery and delineation of new mineralized zones, and the potential identification of new gold and copper‑gold resources across the Fruta del Norte mining property.

FDNS

The 2026 underground conversion drilling program continues to advance across several sectors of FDNS, where the Company declared an inaugural Mineral Reserve of 0.54 Moz (2.50 Mt at 6.66 g/t Au) approximately two years after the deposit's discovery. This reserve declaration followed a succession of consistently strong conversion drilling results that have exceeded expectations.

Recent drilling has focused on the central and northern sectors of the deposit and continues to intercept mineralization consistently, further validating the geological model (Figures 2 and 3). The program returned the highest‑grade intercepts ever recorded at FDNS, including FDN‑C25‑374 (667.78 g/t Au over 7.50 m; 60.19 g/t Au over 13.95 m) and FDN‑C26‑380 (523.01 g/t Au over 8.25 m; 32.94 g/t Au over 4.55 m) and highlighted additional high‑grade zones within the established mineral envelope.

Underground exploration drilling continues to extend the FDNS mineral envelope beyond the current Mineral Resource. Hole UGE‑S‑26‑472 (22.97 g/t Au over 5.00 m) intercepted multiple mineralized veins at depth, indicating further expansion potential in the northern sector of the deposit (Figures 2 and 3). Results received to date are summarized in Tables 1 and 4.

FDN EAST

FDN East is a buried epithermal system composed of multiple subparallel north‑south‑trending veins located approximately 100 metres east of FDN's existing underground infrastructure. Drilling in 2025 defined a deposit footprint of 500‑metre strike length and supported an inaugural Inferred Mineral Resource of 0.42 Moz Au (2.17 Mt at 6.01 g/t Au).

The mineral envelope remains open, and underground exploration drilling is ongoing. Along the northern extension, drilling returned the highest‑grade intercept ever recorded at FDN East, confirming mineral continuity and highlighting strong exploration potential along strike (Figure 4). In addition, drilling confirmed the continuity of newly identified veins beyond the initial Mineral Resource and the deposit footprint strike length is now 500 metres West to East and 800 metres North to South and open for further discovery to the North, East, and South. Results received to date are presented in Tables 2 and 4.

FDN

At FDN, underground exploration drilling intercepted the upper extension of the deposit along the contact with the Suarez conglomerate sequence, close to existing underground infrastructure. Highlights include UGE‑26‑479 (10.55 g/t Au over 23.55 m) and UGE‑26‑461 (8.32 g/t Au over 7.85 m), underscoring significant exploration potential in areas readily accessible from current mine development (Figure 5). Results received to date are summarized in Tables 3 and 4.

Figure 1: Map showing newly released (in yellow) and historical selected drill results (in gray) highlighting the highest grade-thickness intercepts across the FDN property. Drill hole intercepts are represented in drill core lengths.

Figure 2: Map showing FDN deposit, and FDNS selected drilling results

Figure 3: Long section showing FDN and FDNS deposits with selected FDNS conversion and exploration drilling results

Figure 4: Map showing FDN, FDNS, and FDN East deposits with selected FDN East exploration drilling results

Figure 5: Long Section showing FDN, FDNS, FDN East deposits with selected exploration drilling results along the FDN upper extension

Qualified Persons and Technical Notes

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 analyzed 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 historic holes and further information on the assay, QA-QC, and data verification procedures, please see Lundin Gold's Annual Information Form dated March 20, 2026 ("AIF").

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 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 through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. Furthermore, Lundin Gold is focused on continued exploration on its extensive and highly prospective land package to identify and develop new resource opportunities to ensure long-term sustainability and growth for the Company and its stakeholders.

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 May 5 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 plans, activities, and results. 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 AIF.

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: fiscal risk; community relations; mining operations; security situation; waste disposal and tailings; environmental compliance; illegal mining; infrastructure; forecasts relating to production and costs; land acquisition and surface rights; indigenous consultation requirements; Mineral Reserve and Mineral Resource estimates; regulatory compliance and government approvals; dependence on a single mine; climate change and extreme weather events; shortages of critical resources; exploration and development; control of Lundin Gold; information systems and cyber security; health and safety; human rights; measures to protect biodiversity, endangered species and critical habitats; global economic conditions; competition for new projects; availability of workforce and labour relations; key talent recruitment and retention; gold price; market price of the Company's shares; social media and reputation; insurance and uninsured risks; dividends; internal controls; conflicts of interest; violation of anti-bribery and corruption laws; claims and legal proceedings; reclamation obligations; expropriation and nationalization; and pandemics, epidemics or infectious disease outbreak.

APPENDIX 1

Table 1: Drillhole assay results from the FDNS drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au > 8.37). Drill hole intercepts are reported in drill core lengths and true widths.

Hole ID

From (m)

To (m)

Interval (m)

True width (m)

Au (g/t)

Ag (g/t)

Target

Zone

FDN-C25-354

29.35

30.60

1.25

0.88

7.17

8.80

FDNS

Underground

FDN-C25-354

32.60

34.75

2.15

1.52

5.68

12.31

Including

32.60

33.25

0.65

0.46

10.70

20.90

FDN-C25-355

20.85

24.40

3.55

2.51

6.03

17.42

FDNS

Underground

Including

20.85

21.70

0.85

0.60

16.15

25.70

Including

24.00

24.40

0.40

0.28

15.80

68.30

FDN-C25-355

39.85

41.40

1.55

1.10

5.41

11.18

Including

40.60

41.00

0.40

0.28

17.75

20.40

FDN-C25-355

71.40

73.05

1.65

1.17

7.43

17.19

FDN-C25-355

82.40

84.60

2.20

1.56

3.98

33.84

Including

83.80

84.60

0.80

0.57

9.15

72.50

FDN-C25-355

99.20

100.65

1.45

1.03

6.60

16.94

FDN-C25-357

64.35

66.15

1.80

1.38

5.23

15.58

FDNS

Underground

Including

65.00

65.65

0.65

1.38

12.50

29.30

FDN-C25-357

131.20

132.00

0.80

0.50

10.97

185.00

FDN-C25-357

149.90

153.00

3.10

2.54

11.84

120.01

Including

152.55

153.00

0.45

0.37

55.70

145.00

FDN-C25-366

48.10

51.05

2.95

2.55

7.66

15.94

FDNS

Underground

Including

48.10

48.80

0.70

0.61

14.65

20.30

Including

50.55

51.05

0.50

0.43

19.60

27.60

FDN-C25-366

65.60

67.10

1.50

1.23

12.46

14.17

Including

66.45

67.10

0.65

0.53

27.70

15.30

FDN-C25-374

1.50

4.20

2.70

1.74

5.60

7.95

FDNS

Underground

Including

3.40

4.20

0.80

0.51

16.15

16.00

FDN-C25-374

19.15

26.65

7.50

4.82

667.78

268.88

Including

20.50

21.10

0.60

0.39

4710.00

1500.00

Including

25.60

26.10

0.50

0.32

1880.00

695.00

FDN-C25-374

36.05

50.00

13.95

8.97

60.19

81.58

Including

41.90

49.55

7.65

4.92

104.32

128.73

FDN-C25-374

56.55

59.20

2.65

1.70

16.61

25.89

Including

58.10

58.50

0.40

0.26

103.00

91.40

FDN-C25-374

74.70

78.10

3.40

2.40

44.98

47.47

FDN-C25-374

90.50

92.25

1.75

1.24

8.41

11.31

Including

90.90

91.30

0.40

0.28

33.50

27.10

FDN-C25-374

174.80

176.90

2.10

1.35

9.60

42.82

Including

174.80

175.80

1.00

0.64

18.65

54.40

FDN-C25-374

213.40

215.15

1.75

1.24

11.25

363.23

FDN-C25-374

244.10

246.00

1.90

1.34

4.51

76.52

Including

244.80

245.25

0.45

0.32

10.95

264.00

FDN-C25-375

18.40

20.25

1.85

1.84

6.41

122.03

FDNS

Underground

FDN-C25-376

15.25

17.30

2.05

1.78

8.29

43.63

FDNS

Underground

Including

15.25

15.65

0.40

0.35

9.23

53.80

Including

16.75

17.30

0.55

0.48

21.30

51.10

FDN-C25-376

35.10

39.30

4.20

3.64

13.74

13.56

Including

38.90

39.30

0.40

0.35

123.50

60.30

FDN-C25-376

98.40

99.90

1.50

1.30

32.79

77.79

Including

98.40

98.90

0.50

0.43

91.60

181.00

FDN-C25-376

121.65

123.30

1.65

1.43

5.54

6.66

Including

122.05

122.60

0.55

0.48

12.65

8.10

FDN-C25-377

8.70

13.90

5.20

3.68

85.45

80.98

FDNS

Underground

Including

12.40

13.90

1.50

1.06

204.82

211.03

FDN-C25-377

28.30

30.30

2.00

1.41

8.53

12.07

Including

28.30

28.90

0.60

0.42

19.75

18.80

FDN-C25-377

44.10

49.40

5.30

3.75

34.41

25.30

Including

44.10

46.30

2.20

1.56

80.55

45.05

FDN-C25-377

61.30

71.40

10.10

7.14

84.48

56.86

Including

64.10

71.40

3.50

2.47

217.95

45.21

FDN-C25-377

79.15

84.90

5.75

4.07

13.32

33.79

Including

80.55

82.50

1.95

1.38

31.77

38.08

FDN-C25-377

105.05

106.70

1.65

1.17

15.68

30.48

Including

105.45

106.30

0.85

0.60

28.69

31.92

FDN-C26-378

52.90

54.80

1.90

1.84

9.06

9.72

FDNS

Underground

Including

54.20

54.80

0.60

0.58

22.40

14.40

FDN-C26-378

65.15

70.45

5.30

5.12

9.63

16.25

Including

65.15

66.60

1.45

1.40

27.54

16.94

FDN-C26-378

105.80

110.00

4.20

4.06

5.13

42.88

Including

107.20

108.80

1.60

1.55

10.27

79.08

FDN-C26-379

16.70

20.20

3.50

2.47

7.38

9.30

FDNS

Underground

Including

16.70

17.80

1.10

0.78

14.17

10.62

FDN-C26-379

21.40

23.75

2.35

1.66

9.38

28.32

Including

23.25

23.75

0.50

0.35

37.90

75.60

FDN-C26-379

54.45

61.45

7.00

3.50

16.13

11.50

Including

58.20

61.45

3.25

1.63

31.42

16.72

FDN-C26-379

96.10

99.20

3.10

1.78

3.17

5.60

FDN-C26-379

107.00

110.00

3.00

1.72

4.46

4.61

Including

108.90

109.35

0.45

0.26

11.20

6.40

FDN-C26-380

22.55

30.80

8.25

6.32

523.01

134.92

FDNS

Underground

Including

23.80

25.60

1.80

1.38

2389.51

592.06

FDN-C26-380

39.45

44.00

4.55

3.49

32.94

27.59

Including

41.10

43.00

1.90

1.46

75.79

53.36

FDN-C26-380

62.20

64.40

2.20

1.69

6.39

10.01

Including

62.20

62.80

0.60

0.46

15.10

12.70

FDN-C26-380

92.00

94.80

2.80

2.14

9.02

10.32

Including

93.10

94.15

1.05

0.80

23.20

17.60

FDN-C26-381

9.20

10.60

1.40

1.35

6.23

6.83

FDNS

Underground

Including

9.20

9.60

0.40

0.39

20.30

13.40

FDN-C26-381

30.00

33.30

3.30

3.19

4.63

20.63

Including

32.00

32.40

0.40

0.39

13.30

13.90

FDN-C26-381

41.20

42.45

1.25

1.21

7.26

8.32

FDN-C26-381

49.05

54.25

5.20

5.02

23.19

18.82

Including

53.00

54.25

1.25

1.21

86.14

30.78

FDN-C26-382

33.40

36.70

3.30

2.53

17.23

22.25

FDNS

Underground

Including

33.40

35.30

1.90

1.46

28.03

32.69

FDN-C26-382

40.75

48.20

7.45

5.71

11.32

19.88

Including

45.90

48.20

2.30

1.76

26.12

27.70

FDN-C26-383

No Significant Results

FDNS

Underground

FDN-C26-384

29.55

37.20

7.65

6.27

5.06

8.70

FDNS

Underground

Including

34.90

37.20

2.30

1.88

12.28

11.51

FDN-C26-384

86.45

101.75

15.30

12.53

44.09

16.98

Including

88.85

90.45

1.60

1.31

18.85

6.42

Including

93.00

98.60

5.60

4.59

111.33

36.72

FDN-C26-385

5.70

8.45

2.75

2.71

4.71

10.93

FDNS

Underground

FDN-C26-385

16.60

18.00

1.40

1.38

8.30

12.79

FDN-C26-386

1.30

3.40

2.10

1.97

5.19

7.47

FDNS

Underground

FDN-C26-386

58.50

61.70

3.20

3.01

13.53

13.24

FDN-C26-387

0.40

6.30

5.90

5.11

3.95

4.77

FDNS

Underground

Including

0.40

0.80

0.40

0.35

18.05

16.30

Including

5.90

6.30

0.40

0.35

20.80

3.70

FDN-C26-387

21.80

26.20

4.40

3.81

8.20

9.17

Including

23.25

23.65

0.40

0.35

83.60

48.40

FDN-C26-387

33.65

38.90

5.25

4.55

15.06

15.27

Including

35.75

36.15

0.40

0.35

182.50

75.10

FDN-C26-387

74.80

76.90

2.10

1.82

4.70

2.70

Including

76.30

76.90

0.60

0.52

11.30

3.70

FDN-C26-388

13.00

17.75

4.75

3.05

4.51

6.59

FDNS

Underground

Including

14.30

15.75

1.45

0.93

11.96

10.77

FDN-C26-388

41.50

48.90

7.40

4.76

4.16

8.52

Including

47.40

47.80

0.40

0.26

38.10

20.00

FDN-C26-389

16.70

25.55

8.85

8.72

17.47

22.13

FDNS

Underground

Including

18.20

19.40

1.20

1.18

110.06

100.70

FDN-C26-390

9.30

12.70

3.40

2.79

5.20

10.04

FDNS

Underground

Including

10.10

10.55

0.45

0.37

36.00

30.20

FDN-C26-391

23.80

25.95

2.15

1.95

4.71

11.30

FDNS

Underground

FDN-C26-391

66.20

70.60

4.40

3.81

5.08

4.22

Including

66.20

68.00

1.80

1.56

10.04

7.65

FDN-C26-391

77.95

80.00

2.05

1.86

16.43

18.53

Including

79.00

80.00

1.00

0.91

31.30

18.60

FDN-C26-392

0.00

4.40

4.40

-

4.74

25.94

FDNS

Underground

Including

0.00

1.05

1.05

-

13.52

48.59

FDN-C26-393

Pending Results

FDNS

Underground

FDN-C26-394

Pending Results

FDNS

Underground

FDN-C26-395

No Significant Results

FDNS

Underground

FDN-C26-396

Pending Results

FDNS

Underground

FDN-C26-397

19.25

21.60

2.35

2.31

4.49

16.77

FDNS

Underground

Including

19.25

19.80

0.55

0.54

15.35

45.40

FDN-C26-397

28.95

30.35

1.40

1.38

6.59

11.41

Including

28.95

29.35

0.40

0.39

19.95

18.70

FDN-C26-398

3.90

7.30

3.40

3.19

6.60

4.15

FDNS

Underground

Including

5.70

6.50

0.80

0.75

26.90

6.30

FDN-C26-399

Pending Results

FDNS

Underground

FDN-C26-401

12.80

15.25

2.45

1.88

13.45

5.60

FDNS

Underground

Including

12.80

13.70

0.90

0.69

31.85

9.40

FDN-C26-401

114.85

119.10

4.25

1.45

9.95

2.70

Including

115.25

117.10

1.85

0.63

18.97

4.49

FDN-C26-402

Pending Results

FDNS

Underground

FDN-C26-403

Pending Results

FDNS

Underground

FDN-C26-404

Pending Results

FDNS

Underground

FDN-C26-405

Pending Results

FDNS

Underground

FDN-C26-406

Pending Results

FDNS

Underground

FDN-C26-407

Pending Results

FDNS

Underground

FDN-C26-408

Pending Results

FDNS

Underground

FDN-C26-409

Pending Results

FDNS

Underground

FDN-C26-410

Pending Results

FDNS

Underground

FDN-C26-411

Pending Results

FDNS

Underground

FDN-C26-412

Pending Results

FDNS

Underground

FDN-C26-413

Pending Results

FDNS

Underground

FDN-C26-414

Pending Results

FDNS

Underground

FDN-C26-415

Pending Results

FDNS

Underground

FDN-C26-418

Pending Results

FDNS

Underground

FDN-C26-419

Pending Results

FDNS

Underground

UGE-S-26-472

9.15

11.60

2.45

1.73

3.83

9.82

FDNS

Underground

UGE-S-26-472

46.90

51.90

5.00

3.21

22.97

18.39

Including

50.55

51.90

1.35

0.87

56.15

37.23

UGE-S-26-472

139.90

141.15

1.25

0.80

7.95

156.83

Including

140.75

141.15

0.40

0.26

21.50

373.00

UGE-S-26-472

173.65

175.40

1.75

1.00

13.77

135.84

Including

173.65

174.45

0.80

0.46

29.30

290.15

UGE-S-26-477

Pending Results

FDNS

Underground

UGE-S-26-478

Pending Results

FDNS

Underground

Table 2: Drillhole assay results from FDN East drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au >8.37). Drill hole intercepts are reported in drill core lengths and true widths

Hole ID

From (m)

To (m)

Interval (m)

True width (m)

Au (g/t)

Ag (g/t)

Target

Zone

UGE-E-25-422

36.80

39.60

2.80

-

3.92

28.10

FDN East

Underground

Including

37.85

38.55

0.70

-

14.90

104.00

UGE-E-25-422

136.70

139.60

2.90

-

3.24

3.67

Including

137.80

138.60

0.80

-

9.96

9.70

UGE-E-25-422

551.40

555.05

3.65

-

4.68

3.24

Including

551.40

552.05

0.65

-

25.30

13.60

UGE-E-25-425

190.40

191.40

1.00

0.98

13.40

249.00

FDN East

Underground

UGE-E-25-425

239.05

240.80

1.75

1.71

9.06

7.21

Including

240.00

240.80

0.80

0.78

17.53

11.60

UGE-E-25-425

266.85

270.65

3.80

3.72

13.25

5.78

Including

266.85

268.10

1.25

1.22

39.60

14.02

UGE-E-25-425

278.90

284.40

5.50

5.38

12.22

11.77

Including

282.50

284.40

1.90

1.86

30.23

19.29

UGE-E-25-425

286.60

289.00

2.40

2.35

10.80

8.38

Including

288.00

289.00

1.00

0.98

20.68

10.76

UGE-E-25-425

299.00

304.90

5.90

5.77

20.34

15.31

Including

299.00

300.80

1.80

1.76

61.21

37.56

UGE-E-25-425

333.95

336.75

2.80

2.74

4.20

3.84

Including

335.90

336.75

0.85

0.83

7.61

4.64

UGE-E-25-427

No Significant Results

FDN East

Underground

UGE-E-26-429

90.30

97.60

7.30

-

6.69

6.37

FDN East

Underground

Including

94.50

96.90

2.40

-

16.13

9.17

UGE-E-26-429

375.35

378.30

2.95

-

3.00

7.15

Including

375.35

376.10

0.75

-

8.08

18.70

UGE-E-26-429

427.50

431.70

4.20

-

169.93

102.36

Including

430.70

431.70

1.00

-

712.00

429.00

UGE-E-26-435

No Significant Results

FDN East

Underground

UGE-E-26-436

No Significant Results

FDN East

Underground

UGE-E-26-437

No Significant Results

FDN East

Underground

UGE-E-26-448

No Significant Results

FDN East

Underground

UGE-E-26-456

96.70

101.70

5.00

-

5.42

8.44

FDN East

Underground

UGE-E-26-458

318.30

319.30

1.00

-

9.52

10.30

FDN East

Underground

UGE-E-26-465

102.70

107.60

4.90

-

5.27

7.20

FDN East

Underground

Including

104.70

106.60

1.90

-

10.73

7.99

UGE-E-26-470

Pending Results

FDN East

Underground

Table 3: Drillhole assay results from FDN drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au >8.37). Drill hole intercepts are reported in drill core lengths and true widths

Hole ID

From (m)

To (m)

Interval (m)

True width (m)

Au (g/t)

Ag (g/t)

Target

Zone

UGE-26-441

71.50

75.50

4.00

-

10.09

10.40

FDN-Exploration

Underground

Including

74.00

75.50

1.50

-

21.47

13.25

UGE-26-441

84.80

87.85

3.05

-

4.25

6.44

Including

87.40

87.85

0.45

-

23.70

21.50

UGE-26-442

No Significant Results

FDN-Exploration

Underground

UGE-26-443

76.00

78.60

2.60

2.25

9.59

36.50

FDN-Exploration

Underground

Including

76.65

77.40

0.75

0.65

22.90

92.00

UGE-26-443

96.40

100.00

3.60

3.12

13.86

10.57

Including

96.40

96.80

0.40

0.35

120.00

79.40

UGE-26-444

21.50

24.10

2.60

1.84

4.23

8.85

FDN-Exploration

Underground

Including

21.50

21.95

0.45

0.32

16.95

21.50

UGE-26-444

49.20

51.85

2.65

1.87

22.56

50.24

Including

50.40

50.80

0.40

0.28

101.50

105.00

UGE-26-446

No Significant Results

FDN-Exploration

Underground

UGE-26-447

No Significant Results

FDN-Exploration

Underground

UGE-26-451

15.30

17.80

2.50

-

5.71

7.87

FDN-Exploration

Underground

Including

16.60

17.80

1.20

-

11.17

11.35

UGE-26-451

37.45

40.60

3.15

-

3.87

14.79

UGE-26-451

62.85

64.45

1.60

1.03

8.72

21.83

Including

64.05

64.45

0.40

0.26

28.90

44.60

UGE-26-451

86.55

94.00

7.45

-

4.70

7.22

Including

86.55

88.90

2.35

-

9.76

9.56

UGE-26-452

58.20

59.50

1.30

1.28

12.70

13.76

FDN-Exploration

Underground

Including

58.20

58.60

0.40

0.39

38.90

36.50

UGE-26-452

62.30

63.60

1.30

1.28

9.07

7.72

Including

62.70

63.10

0.40

0.39

27.90

19.50

UGE-26-453

33.55

37.70

4.15

2.67

4.50

13.87

FDN-Exploration

Underground

Including

33.95

34.75

0.80

0.51

9.48

22.55

UGE-26-453

39.00

44.40

5.40

3.47

4.68

2.10

UGE-26-454

0.45

11.10

10.65

-

3.28

6.30

FDN-Exploration

Underground

Including

0.45

1.35

0.90

-

10.69

21.07

Including

8.80

10.70

1.90

-

10.27

10.27

UGE-26-454

25.45

33.70

8.25

5.83

9.54

19.86

Including

25.45

27.50

2.05

1.45

19.83

26.25

Including

32.45

33.70

1.25

0.88

26.34

49.50

UGE-26-455

42.00

52.60

10.60

-

5.88

7.43

FDN-Exploration

Underground

Including

42.80

45.10

2.30

-

22.12

16.87

UGE-26-455

60.50

69.70

9.20

-

4.91

12.71

Including

60.50

62.50

2.00

-

14.72

10.25

UGE-26-457

71.85

75.00

3.15

3.10

39.16

17.55

FDN-Exploration

Underground

Including

74.15

74.55

0.40

0.39

305.00

127.00

UGE-26-461

66.35

68.70

2.35

-

4.47

16.88

FDN-Exploration

Underground

UGE-26-461

70.00

73.75

3.75

-

4.17

13.69

UGE-26-461

74.85

82.70

7.85

-

8.32

23.15

Including

78.90

82.30

3.40

-

15.71

33.62

UGE-26-461

85.05

88.75

3.70

-

3.47

23.13

UGE-26-462

Pending Results

FDN-Exploration

Underground

UGE-26-463

96.80

101.00

4.20

-

8.33

7.06

FDN-Exploration

Underground

Including

96.80

97.25

0.45

-

41.80

10.10

Including

98.55

99.00

0.45

-

24.30

15.60

UGE-26-463

135.60

140.70

5.10

-

6.05

10.95

Including

135.60

136.60

1.00

-

24.00

17.90

UGE-26-464

42.45

48.55

6.10

-

6.16

11.33

FDN-Exploration

Underground

Including

42.45

43.45

1.00

-

12.55

19.10

Including

45.45

47.45

2.00

-

8.45

13.15

UGE-26-471

Pending Results

FDN-Exploration

Underground

UGE-26-474

Pending Results

FDN-Exploration

Underground

UGE-26-479

58.15

81.70

23.55

-

10.55

27.07

FDN-Exploration

Underground

Including

78.60

80.90

2.30

-

24.90

12.32

UGE-26-479

131.50

135.10

3.60

-

6.37

3.11

Including

133.30

135.10

1.80

-

10.84

2.86

Table 4: FDNS, FDN and FDN East Collar Drill Holes

Hole ID

Prospect

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

Zone

Year

FDN-C25-354

FDNS

778219

9582536

1086

79

-47

90.00

Underground

2025

FDN-C25-355

FDNS

778217

9582533

1085

159

-48

140.00

Underground

2025

FDN-C25-357

FDNS

778218

9582534

1085

105

-54

166.10

Underground

2025

FDN-C25-366

FDNS

778211

9582662

1083

238

-32

100.00

Underground

2025

FDN-C25-374

FDNS

778192

9582548

1085

130

-55

247.50

Underground

2025

FDN-C25-375

FDNS

778219

9582534

1087

115

-10

70.00

Underground

2025

FDN-C25-376

FDNS

778215

9582432

1088

340

-32

131.80

Underground

2025

FDN-C25-377

FDNS

778192

9582547

1085

154

-47

121.40

Underground

2025

FDN-C26-378

FDNS

778192

9582546

1086

160

-18

110.00

Underground

2026

FDN-C26-379

FDNS

778177

9582487

1086

303

-42

110.00

Underground

2026

FDN-C26-380

FDNS

778177

9582488

1086

320

-40

115.00

Underground

2026

FDN-C26-381

FDNS

778215

9582432

1089

325

-15

70.00

Underground

2026

FDN-C26-382

FDNS

778215

9582432

1090

325

37

70.00

Underground

2026

FDN-C26-383

FDNS

778222

9582429

1088

69

-35

130.30

Underground

2026

FDN-C26-384

FDNS

778169

9582486

1087

289

-36

110.00

Underground

2026

FDN-C26-385

FDNS

778169

9582486

1088

280

-12

70.00

Underground

2026

FDN-C26-386

FDNS

778169

9582485

1087

257

-19

75.00

Underground

2026

FDN-C26-387

FDNS

778169

9582487

1087

296

-28

100.00

Underground

2026

FDN-C26-388

FDNS

778169

9582487

1087

302

-49

128.20

Underground

2026

FDN-C26-389

FDNS

778174

9582681

1084

306

10

70.00

Underground

2026

FDN-C26-390

FDNS

778174

9582681

1083

302

-36

90.00

Underground

2026

FDN-C26-391

FDNS

778173

9582680

1083

272

-37

80.00

Underground

2026

FDN-C26-392

FDNS

778218

9582536

1085

54

-49

100.00

Underground

2026

FDN-C26-393

FDNS

778218

9582536

1085

45

-56

125.00

Underground

2026

FDN-C26-394

FDNS

778157

9582333

1090

156

-20

150.00

Underground

2026

FDN-C26-395

FDNS

778147

9582594

1253

168

10

175.00

Underground

2026

FDN-C26-396

FDNS

778147

9582594

1251

157

-24

110.00

Underground

2026

FDN-C26-397

FDNS

778173

9582679

1084

240

5

70.00

Underground

2026

FDN-C26-398

FDNS

778174

9582680

1084

266

10

90.00

Underground

2026

FDN-C26-399

FDNS

778157

9582333

1090

152

-34

126.60

Underground

2026

FDN-C26-401

FDNS

778168

9582485

1087

275

-41

130.00

Underground

2026

FDN-C26-402

FDNS

778169

9582486

1087

292

-44

80.20

Underground

2026

FDN-C26-403

FDNS

778148

9582595

1251

152

-67

110.00

Underground

2026

FDN-C26-404

FDNS

778148

9582594

1253

148

18

160.00

Underground

2026

FDN-C26-405

FDNS

778218

9582536

1085

45

-64

145.00

Underground

2026

FDN-C26-406

FDNS

778219

9582536

1086

68

-12

90.20

Underground

2026

FDN-C26-407

FDNS

778174

9582486

1087

298

-16

75.00

Underground

2026

FDN-C26-408

FDNS

778169

9582486

1087

281

-52

120.00

Underground

2026

FDN-C26-409

FDNS

778169

9582485

1087

268

-36

110.00

Underground

2026

FDN-C26-410

FDNS

778169

9582485

1087

259

-40

139.20

Underground

2026

FDN-C26-411

FDNS

778148

9582594

1252

139

-10

176.30

Underground

2026

FDN-C26-412

FDNS

778149

9582595

1251

128

-51

88.10

Underground

2026

FDN-C26-413

FDNS

778228

9582662

1083

153

-54

136.30

Underground

2026

FDN-C26-414

FDNS

778218

9582536

1085

75

-68

135.00

Underground

2026

FDN-C26-415

FDNS

778219

9582535

1085

91

-53

90.00

Underground

2026

FDN-C26-418

FDNS

778150

9582594

1252

124

6

75.00

Underground

2026

FDN-C26-419

FDNS

778150

9582594

1252

128

-15

70.00

Underground

2026

UGE-S-26-472

FDNS

778178

9582678

1082

122

-58

210.00

Underground

2026

UGE-S-26-477

FDNS

778225

9582665

1083

253

-44

171.60

Underground

2026

UGE-S-26-478

FDNS

778225

9582665

1083

287

-44

190.00

Underground

2026

UGE-26-441

FDN

778207

9582824

1155

227

-32

90.00

Underground

2026

UGE-26-442

FDN

778207

9582824

1156

220

-20

125.00

Underground

2026

UGE-26-443

FDN

778195

9582869

1104

200

-30

100.00

Underground

2026

UGE-26-444

FDN

778195

9582869

1103

247

-43

70.00

Underground

2026

UGE-26-446

FDN

778186

9582810

1199

253

15

90.00

Underground

2026

UGE-26-447

FDN

778186

9582809

1199

237

16

105.00

Underground

2026

UGE-26-451

FDN

778195

9582870

1103

250

-61

100.00

Underground

2026

UGE-26-452

FDN

778195

9582869

1105

220

6

70.00

Underground

2026

UGE-26-453

FDN

778163

9582869

1158

253

44

45.00

Underground

2026

UGE-26-454

FDN

778163

9582869

1155

244

-59

35.00

Underground

2026

UGE-26-455

FDN

778126

9582705

1250

263

-9

140.10

Underground

2026

UGE-26-457

FDN

778195

9582877

1104

315

-12

75.00

Underground

2026

UGE-26-461

FDN

778126

9582704

1250

237

-11

175.15

Underground

2026

UGE-26-462

FDN

778124

9582606

1252

236

-16

130.00

Underground

2026

UGE-26-463

FDN

778125

9582605

1252

211

-15

155.00

Underground

2026

UGE-26-464

FDN

778124

9582607

1252

267

-18

100.00

Underground

2026

UGE-26-471

FDN

778125

9582787

1249

273

-2

146.00

Underground

2026

UGE-26-474

FDN

778125

9582785

1249

247

1

150.00

Underground

2026

UGE-26-479

FDN

778125

9582785

1250

290

5

143.60

Underground

2026

UGE-E-25-422

FDN - East

778138

9582952

1028

115

-7

775.40

Underground

2025

UGE-E-25-425

FDN - East

778172

9582956

1271

70

-8

500.00

Underground

2025

UGE-E-25-427

FDN - East

778154

9582829

1223

110

8

647.80

Underground

2025

UGE-E-26-429

FDN - East

777959

9583482

1194

93

15

551.40

Underground

2026

UGE-E-26-435

FDN - East

778153

9582828

1223

120

8

661.50

Underground

2026

UGE-E-26-436

FDN - East

778138

9582953

1029

120

13

491.60

Underground

2026

UGE-E-26-437

FDN - East

777959

9583482

1194

83

1

580.00

Underground

2026

UGE-E-26-448

FDN - East

778153

9582829

1224

98

17

709.80

Underground

2026

UGE-E-26-456

FDN - East

777959

9583482

1194

87

9

550.00

Underground

2026

UGE-E-26-458

FDN - East

778088

9583347

1003

60

-5

435.00

Underground

2026

UGE-E-26-465

FDN - East

778126

9582705

1250

76

5

550.00

Underground

2026

UGE-E-26-470

FDN - East

777959

9583482

1194

79

15

580.00

Underground

2026

SOURCE Lundin Gold Inc.



Contact
For more information, please contact: Brendan Creaney, Vice President, Corporate Development & Investor Relations, Tel: +1-604-376-4595, brendan.creaney@lundingold.com
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