Lundin GOLD Announces Upgrade to OTCQX
NEWS RELEASE
Vancouver, June 28, 2022
Lundin Gold Inc. 885 West Georgia Street, Suite 2000 Phone: +1 604 689 7842 lundingold.com
Vancouver, BC, V6C 3E8 Fax: +1 604 689 4250 Email: [email protected]
LUNDIN GOLD ANNOUNCES UPGRADE TO OTCQX
Lundin Gold Inc. (TSX: LUG; Nasdaq Stockholm: LUG) ("Lundin Gold" or the "Company") is pleased to announce
that its common shares are now trading on the OTCQX® Best Market under the symbol “LUGDF”. Lundin Gold
upgraded to the OTCQX from the OTC Pink® market.
Upgrading to the OTCQX Market enables Lundin Gold to provide transparent trading for U.S. investors.
Streamlined market standards enable the Company to utilize its TSX listing to make information available in the
U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate
governance and demonstrate compliance with applicable securities laws.
Ron Hochstein, Lundin Gold’s President and CEO, commented, " We are excited to graduate from the Pink®
market and begin trading on the OTCQX Market. This achievement will give a greater number of investors the
opportunity to invest in Lundin Gold and enable participation in our exciting growth story, where maximization
of shareholder value is the primary consideration.”
U.S. investors can find current financial disclosure and Real -Time Level 2 quotes for the company on
www.otcmarkets.com.
Lundin Gold has also applied for its common shares to be eligible for electronic clearing and settlement through
the Depositary Trust Company (“DTC”). DTC eligibility is expected to simplify the process of trading and enhance
the liquidity of the Company's common shares in the United States because of the accelerated settlement period
and the expected reduction in costs for investors and brokers. The Company expects to receive confirmation of
eligibility next quarter.
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 in mine operations and are dedicated to
operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with
international best practices. Lundin Gold is commi tted 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
This information was publicly communicated on June 28, 2022 at 4:00 a.m. Pacific Time through the contact
persons set out below.
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For more information, please contact
Ron F. Hochstein Finlay Heppenstall
President and CEO Director, Investor Relations
Tel (Ecuador): +593 2-299-6400 Tel: +1 604 806 3089
Tel (Canada): +1-604-806-3589 [email protected]
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, obj ectives,
assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "antic ipates",
"expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "ho pes", or variations of
such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be
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 re sults 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 exp ectations 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 Comp any 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 relating to the benefits to be
derived by the Company’s securities trading on the OTCQX and the anticipated eligibility of the Company’s securities on DTC. 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 21, 2022, 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: risks
associated with the Company's community relationships; risks related to political and economic instability in Ecuador; risks related to
estimates of production, cash flows and costs; the impacts of a pandemic virus outbreak; risks inherent to mining operations; failure of
the Company to maintain its obligations under its debt facilities; shortages of critical supplies; control of the Company's largest
shareholders; risks related to Lundin Gold’s compliance with environmental laws and liability for environmental contamination; the lack
of availability of infrastructure; the Company's reliance on one mine; exploration and development risks; risks related to the Company’s
ability to obtain, maintain or renew regulatory approvals, permits and licenses; uncertainty with the tax regime in Ecuador; risks related
to the Company’s workforce and its labour relations; volatility in the price of gold; the reliance of the Company on its information
systems and the risk of cyber -attacks on those systems; deficient or vulnerable title to concessions , easements and surface rights;
inherent safety hazards and risk to the health and safety of the Company’s employees and contractors; the imprecision of Mineral
Reserve and Resource estimates; key talent recruitment and retention of key personnel; volatility in the market price of the Company’s
shares; measures to protect endangered species and critical habitats; social media and reputation; the cost of non -compliance and
compliance costs; risks related to illegal mining; the adequacy of the Company’s insurance; risks relating to the declaration of dividends;
uncertainty as to reclamation and decommissioning; the ability of Lundin Gold to ensure compliance with anti -bribery and anti -
corruption laws; the uncertainty regarding risks posed by climate change; limits of disclosure and internal controls; security risks to the
Company, its assets and its personnel; the potential for litigation; and risks due to conflicts of interest.