Lundin GOLD Declares Quarterly Dividend
NEWS RELEASE
Vancouver, November 8, 2023
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 QUARTERLY 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 quarterly cash dividend of US$0.10 per common
share. The dividend will be payable on December 22, 2023, to shareholders of record at the close of business on
December 7, 2023. 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 T oronto Stock Exchange ("TSX") of
CAD$16.37, this dividend of US$0.10 per common share represents an estimated annual yield of approximately
3.4%.1
Dividends for shares trading on the TSX and the OTCQX will be paid in Canadian dollars on December 22, 2023,
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 December 29, 2023. To execute the
payment of the dividend, a temporary administrative cross -border transfer closure will be applied by Euroclear
from December 5 , 2023 up to and including December 7 , 2023 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/investors/dividends.
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 committed to delivering value to its shareholders, while
simultaneously providing economic and social benefits to impac ted 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 November 8, 2023 at 4:00 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 1.3797 as provided by the Bank of
Canada.
2
For more information, please contact
Ron F. Hochstein Finlay Heppenstall
President and CEO Director, Investor Relations and Corporate Development
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 respe ct 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", "antic ipates",
"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 o f 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 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
31, 2023, 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 related
to political and economic instability in Ecuador; risks associated with the Company's community relationships; risks related to estimates
of production, cash flows and costs; risks inherent to mining operations; shortages of critical suppli es; the cost of non -compliance and
compliance costs; control of the Company's largest shareholders; volatility in the price of gold; failure of the Company to m aintain its
obligations under its debt facilities; risks related to Lundin Gold’s compliance wit h environmental laws and liability for environmental
contamination; the lack of availability of infrastructure; the Company's reliance on one mine; security risks to the Company, its assets and
its personnel; risks related to illegal mining; exploration and development risks; the impacts of a pandemic virus outbreak; risks related to
the Company’s ability to obtain, maintain or renew regulatory approvals, permits and licenses; uncertainty with and changes t o the tax
regime in Ecuador; the reliance of the Company on its information systems and the risk of cyber-attacks on those systems; the imprecision
of Mineral Reserve and Resource estimates; deficient or vulnerable title to concessions, easements and surface rights; inhere nt safety
hazards and risk to the health and safety of the Company’s employees and contractors; risks related to the Company’s workforce and its
labour relations; 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 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;
the potential for litigation; and risks due to conflicts of interest.