Lundin GOLD Announces First Export of GOLD Concentrate and Doré
885 West Georgia Street T +1 604 689 7842
Suite 2000 F +1 604 689 4250
Vancouver, BC [email protected]
Canada V6C 3E8 lundingold.com
NEWS RELEASE
LUNDIN GOLD ANNOUNCES FIRST EXPORT OF
GOLD CONCENTRATE AND DORÉ
December 13, 2019 (Vancouver, Canada ) Lundin Gold Inc. ("Lundin Gold" or the
"Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports the first export of gold concentrate
and doré bars from Ecuador. The first shipment of concentrate totaling eight containers,
containing approximately 180 tonnes of concentrate, left the Port of Guayaquil on December
8th.
Ron Hochstein , President and Chi ef Executive Officer of Lundin Gold, stated “Our first
shipment to Boliden’s smelting facility in Harjavalta, Finland marks another milestone for Fruta
del Norte and Ecuador, as this shipment represents the first export from a large-scale mining
operation in Ecuador.”
Shortly thereafter, on December 12th, the Company also shipped its first doré bars to a refinery
in Switzerland.
The commissioning of the process plant is entering its final stages as the Carbon in Leach
circuit is now in operation. Focus now is on ramp up of the process plant to full production and
target recoveries, forecast to be reached in Q2 2020.
About Lundin Gold
Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold project in
southeast Ecuador. The Company's board and management team have extensive expertise in
mine operations and are dedicated to advancing Fruta del Norte to commercial production in
the second quarter of 2020.
The Company operates with transparency and in acco rdance with international best
practices. Lundin Gold is committed to delivering value to its shareholders, while
simultaneously providing economic and social benefits to impacted communities, fostering a
healthy and safe workplace and minimizing the environmental impact. The Company believes
that the value created through the development of Fruta del Norte will benefit its shareholders,
the Government and the citizens of Ecuador.
Additional Information
The information in this release is subject to the disclosure requirements of Lundin Gold under
the EU Market Abuse Regulation. This information was submitted for publication December
13, 2019 at 5:00 a.m. PT through the contact persons set out below.
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For more information, please contact
Lundin Gold Inc.
Ron F. Hochstein
President and CEO
+593 2-299-6400
+604-806-3589
Lundin Gold Inc.
Sabina Srubiski
Manager, Investor Relations
+1-604-806-3089
www.lundingold.com
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Caution Regarding Forward-Looking Information and Statements
Certain of the information and statements in this press release are considered "forward -looking
information" or "forward-looking statements" as those terms are defined under Canadian securities laws
(collectively referred to as "forward -looking statements"). Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always, identified by words or phrases such
as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends",
"plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "will", "should" "might", "will b e taken", or
"occur" and similar expressions) are not statements of historical fact and may be forward -looking
statements.
By their nature, forward -looking statements and information involve assumptions, inherent risks and
uncertainties, many of which are difficult to predict, and are usually beyond the control of management,
that could cause actual results to be materially different from those expressed by these forward-looking
statements and information. Lundin Gold believes that the expectations reflected in this forward-looking
information are reasonable, but no assurance can be given that these expectations will prove to be
correct. Forward-looking information should not be unduly relied upon. This information speaks only as
of the date of this press release, and the Company will not necessarily update this information, unless
required to do so by securities laws.
This press release contains forward -looking information in a number of places, such as in statements
pertaining to the completion of commis sioning, the timing of ramp up of the process plant and
acheivement of target recoveries and the timing of commercial gold production.
There can be no assurance that such statements will prove to be accurate, as Lundin Gold's actual
results and future events could differ materially from those anticipated in this forward-looking information
as a result of the factors discussed in the "Risk Factors" section in Lundin Gold's Annual Information
Form dated March 27, 2019, which is available at www.lundingold.com or on SEDAR.
Lundin Gold's actual results could differ materially from those anticipated. Factors that could cause
actual results to differ materially from any forward-looking statement or that could have a material impact
on the Company or the trading price of its shares, include: receipt of regulatory approvals, risks
associated with the Company's community relationships; risks and hazards inherent in mining and
processing; lack of availability of or interference with infrastructure; risks related to L undin Gold's
compliance with increasingly strict environmental laws and liability for environmental contamination;
risks related political and economic instability in Ecuador; deficient or vulnerable title to mining
concessions and surface rights; risk to shareholders of dilution from future equity financings; failure to
maintain its obligations under its debt facilities; shortages of critical resources, such as skilled labour
and supplies, consumables and equipment; inherent safety hazards and risk to the health and safety of
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the Company's employees and contractors; volatility in the price of gold; the cost of compliance or failure
to comply with applicable laws; the timely receipt of regulatory approvals, permits and licenses; risks
associated with the performance of the Company's contractors; the imprecision of Mineral Reserve and
Resource estimates; dependence on key personnel; volatility in the market price of the Company's
shares; the potential influence of the Company's largest shareholders; uncertai nty with the tax regime
in Ecuador; measures required to protect endangered species; exploration and development risks; the
Company's reliance on one project risks related to artisanal and illegal mining; the reliance of the
Company on its information systems and the risk of cyber-attacks on those systems; the ability to obtain
adequate insurance; uncertainty as to reclamation and decommissioning; the uncertainty regarding risks
posed by climate change; the ability of Lundin Gold to ensure compliance with a nti-bribery and anti -
corruption laws; the potential for litigation; and limits of disclosure and internal controls.