Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)  is pleased to report third quarter 2025 gold production of 122,086 ounces from its Fruta del Norte gold mine in southeast Ecuador.  Of the total quarterly gold production, 78,172 oz were produced as concentrate and 43,914 oz as doré.  During the same quarter in 2024, the Company produced 122,154 oz of gold. All amounts are in U.S. dollars unless otherwise indicated. PDF Version

In the third quarter of 2025, the mill processed 484,296 tonnes of ore resulting in an average throughput rate of 5,264 tonnes per day at an average grade of 8.9 grams per tonne with recoveries of 88.2%.

Ron Hochstein, President and CEO commented, “Our strong performance this quarter propels our year-to-date gold production to 378,832 ounces, which has us well on track to meet our 2025 production guidance of 490,000 to 525,000 ounces.  Our debottlenecking efforts around the processing plant continue to be successful, having achieved a record quarterly average production rate of 5,264 tonnes per day.  We also see ongoing room for improvement in gold recoveries.”

Production Results

Non-IFRS Financial Measures

This news release refers to certain financial measures, such as average realized gold price, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS.  These measures may differ from those made by other companies and accordingly may not be comparable to such measures as reported by other companies.  These measures have been calculated on a basis consistent with historical periods.  Please refer to the Company’s MD&A filed on SEDAR+ under the Company’s profile at www.sedarplus.ca, starting on page 11, for the three months ended June 30, 2025 for an explanation of non-IFRS measures used.

Qualified Persons

The technical information relating to Fruta del Norte contained in this News Release has been reviewed and approved by Terry Smith P. Eng, Lundin Gold’s COO, who is a Qualified Person under National Instrument 43-101.

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.