Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) is pleased to announce that, further to its press release dated February 22, 2026, it has entered into a definitive silver stream agreement with LunR Royalties Corp. pursuant to which LunR will acquire a life‑of‑mine silver stream on the Company’s Fruta del Norte gold mine in Ecuador in exchange for the issuance of 50,505,051 LunR common shares.

The Definitive Agreement gives effect to the binding term sheet disclosed on February 22, 2026, and the final terms are substantially consistent with those previously disclosed.

Upon closing of the Transaction, and subject to applicable approvals, Lundin Gold intends to distribute the LunR shares to its shareholders as a dividend in kind and will not retain any ownership interest in LunR following completion of the distribution.

Completion of the Transaction remains subject to customary closing conditions and regulatory approvals and is expected to close in Q2 2026.

Intended Distribution of LunR Shares

Subject to satisfactory completion of the closing conditions of the Transaction, as soon as reasonably practicable following the issuance of the LunR shares to Lundin Gold on closing of the Transaction, Lundin Gold will distribute the LunR Shares to its shareholders as a dividend in kind.  The LunR shares will not be distributed to Lundin Gold shareholders in the United States or in any other jurisdiction where such Distribution would be restricted or prohibited by applicable law or where the Distribution would require the filing of a prospectus, registration statement or similar document by either Lundin Gold or LunR.  Instead, the LunR shares that would otherwise be distributed to such Lundin Gold shareholders will be sold on their behalf, and they will receive a cash payment equal to the net proceeds of such sale.  Lundin Gold will not hold any common shares of LunR following completion of the Distribution.  In accordance with the terms of the transaction, LunR will cooperate with, and assist, Lundin Gold in effecting the Distribution in compliance with applicable laws. Further details on the Distribution will be provided in connection with closing of the Transaction.

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.

About LunR Royalties

LunR Royalties is an emerging royalty and streaming company based in Canada, focused on building and managing a portfolio of high-quality mining royalty and stream interests to create meaningful and lasting value for stakeholders.

LunR was spun-out of NGEx Minerals Ltd. whose common shares trade on the TSX under the symbol “NGEX”, with net smelter return royalties on the Lunahuasi and Los Helados projects, located in the Vicuña District of Argentina and Chile.  LunR holds a 1.00% NSR royalty on Lunahuasi and a 1.38% NSR royalty on Los Helados.