Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)  is pleased to report second quarter 2025 gold production of 139,433 ounces from its Fruta del Norte gold mine in southeast Ecuador.  Of the total quarterly gold production, 92,242 oz were produced as concentrate and 47,191 oz as doré.  During the same quarter in 2024, the Company produced 133,062 oz of gold. All amounts are in U.S. dollars unless otherwise indicated.

In the second quarter of 2025, the mill processed 460,820 tonnes of ore resulting in an average throughput rate of 5,064 tonnes per day at an average grade of 10.4 grams per tonne with recoveries of 90.9%.

Ron Hochstein, President and CEO commented, “Our strong performance this quarter has us well on track to meet our 2025 production guidance of 475,000 to 525,000 ounces.  The Plant Expansion project, commissioned in the first quarter, has been a clear success, with average throughput reaching 5,064 tonnes per day and recoveries near 91%.  Elevated grades also boosted our first-half results, and we anticipate they’ll reduce in the second half, and average out to our previously disclosed guidance of 9.2 grams per tonne for the full year. Overall, Fruta del Norte and the operating team continue to perform and pursue operational excellence.”

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 March 31, 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.