Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) is pleased to report second quarter 2026 gold production of 118,994 ounces from its Fruta del Norte gold mine in southeast Ecuador. Of the total quarterly gold production, 79,208 oz were produced as concentrate and 39,786 oz as doré. During the same quarter in 2025, the Company produced 139,433 oz of gold. All amounts are in U.S. dollars unless otherwise indicated.

In the second quarter of 2026, the mill processed 500,143 tonnes of ore resulting in an average throughput rate of 5,496 tonnes per day at an average grade of 8.3 grams per tonne with recoveries of 89.1%.

Jamie Beck, President and CEO commented, “Second quarter production of 118,994 ounces of gold, in what was planned to be the weakest quarter of the year, emphasizes the strength of our operations.  Despite a total of nine days of planned plant maintenance during the quarter, improved access to higher grade stopes, resulted in materially higher throughput and grades in June, driving a strong finish to the quarter and reinforcing our operating momentum heading into the second half of the year.  We remain focused on mine and plant performance and are on track to achieve our 2026 production guidance of 475,000 to 525,000 ounces of gold.”

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 quarter ended March 31, 2026 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.