Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) is pleased to announce annual gold production of 498,315 ounces in 2025 from its Fruta del Norte gold mine in southeast Ecuador, achieving the Company’s 2025 elevated guidance range of 490,000 to 525,000 oz. Gold production in the fourth quarter 2025 totalled 119,483 oz, consisting of 78,577 oz of concentrate and 40,906 oz of doré, and gold sales totalled 503,330 oz. All amounts are in U.S. dollars unless otherwise indicated.

In the fourth quarter of 2025, the mill processed a record 484,950 tonnes of ore resulting in an average throughput rate of 5,271 tonnes per day at an average grade of 8.7 grams per tonne with recoveries of 88.3%.

Jamie Beck, President and CEO commented, Jamie Beck, President and CEO commented, “I’m pleased to report that Lundin Gold achieved its revised 2025 production guidance of 490,000 to 525,000 oz with total annual production of 498,315 oz, including 119,483 oz in the fourth quarter. This strong result was supported by record quarterly throughput of 5,271 tonnes per day. Looking ahead to 2026, we expect to continue ramping up the mill to an average throughput of 5,500 tonnes per day and are targeting increasing recoveries to 91%, which will support our production guidance of 475,000 to 525,000 oz.”

Production Results

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.