Lundin GOLD Declares Inaugural Dividend
NEWS RELEASE
Vancouver, August 9, 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 DECLARES INAUGURAL DIVIDEND
Lundin Gold Inc. (TSX: LUG; Nasdaq Stockholm: LUG ; OTCQX: LUGDF ) ("Lundin Gold" or the "Company") is
pleased to announce that its Board of Directors has declared a semi -annual cash dividend of US$0.20 per
common share. The first semi-annual dividend will be payable on September 13, 2022, to shareholders of record
at the close of business on August 24, 2022. This dividend qualifies as an ”eligible dividend” for Canadian income
tax purposes.
Based on today’s closing price of the Company’s common shares on the Toronto Stock Exchange ("TSX") of
CAD$9.16, this dividend of US$0.20 per common share represents an estimated annual yield of approximately
5.6%.1
Dividends for shares trading on the TSX and the OTCQX will be paid in Canadian dollars on September 13, 2022,
based on the prevailing exchange rate at the record date. Dividends for shares trading on Nasdaq Stockholm will
be paid in Swedish kronor (SEK) in accordance with Euroclear principles on September 15, 2022. To execute the
payment of the dividend, a temporary administrative cross-border transfer closure will be applied by Euroclear
from August 23, 2022 up to and including August 24, 2022 during which period shares of the Company cannot be
transferred between TSX and Nasdaq Stockholm. Payments to shareholders who are not residents of Canada will
be net of any Canadian withholding taxes that may be applicable. For further details, please visit :
www.lundingold.com.
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
The information in this release is subject to the disclosure requirements of Lundin Gold under the EU Market
Abuse Regulation. This information was publicly communicated on August 9, 2022 at 4:30 p.m. Pacific Time
through the contact persons set out below.
1 Estimated yield has been calculated using today’s CAD$ to US$ exchange rate of 1.2880 as provided by the Bank of Canada
2
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, object ives,
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 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 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 u pdate 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 Company’s declaration
and payment of dividends pursuant to its dividend policy and the estimated annual yield. 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 relat ing 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 disclosur e and internal controls; security risks to the Company, its assets
and its personnel; the potential for litigation; and risks due to conflicts of interest.