Lundin GOLD Doubles Quarterly Dividend
NEWS RELEASE
Vancouver, August 8, 2024
Lundin Gold Inc. Suite 2800, Four Bentall Centre Phone: +1 604 689 7842 lundingold.com
1055 Dunsmuir Street Fax: +1 604 689 4250 Email: [email protected]
Vancouver, BC, V7X 1L2
LUNDIN GOLD DOUBLES 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 an increased quarterly cash dividend of US$0.20
per common share , up from US$0.10 per common share in previous quarters . The dividend will be payable
on September 25, 2024 to shareholders of record at the close of business on September 10, 2024. This dividend
qualifies as an “eligible dividend” for Canadian income tax purposes.
“The Board’s decision today to double our quarterly dividend reflects our confidence in the Company’s financial
position now that Lundin Gold is debt free , with strong revenues and operating cash flow,” said Ron Hochstein,
President and CEO . “Even though we have doubled our quarterly dividend , we remain committed to pursuing
growth through our exploration programs and targeted corporate development.”
Based on today’s closing price of the Company’s common shares on the T oronto Stock Exchange ("TSX") of
CAD$21.99, this quarterly dividend of US$0. 20 per common share represents an estimated annual yield of
approximately 5.0%.1
Dividends for shares trading on the TSX and the OTCQX will be paid in Canadian dollars on September 25, 2024,
based on the prevailing exchange rate at the record date. Dividends for shares trading on Nasdaq Stockholm will
be paid on September 30, 2024 in Swedish kronor (SEK) in accordance with Euroclear principles. To execute the
payment of the dividend, a temporary administrative cross -border transfer closure will be applied by Euroclear
from September 6, 2024, up to and including September 10, 2024 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:
https://lundingold.com/investors/dividends/.
About Lundin Gold
Lundin Gold, headquartered in Vancouver, Canada, is committed to positive and long-lasting impact on our host
communities, while delivering significant value to stakeholders through operational excellence, cash flow
generation and focused growth. Lundin Gold currently operates its 100% owned Fruta del Norte gold mine in
southeast Ecuador, which is one of the highest-grade gold mines in production in the world today. The Company
also owns a portfolio of prospective exploration properties close to FDN.
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 8, 2024 at 4:30 p.m. Pacific Time
through the contact persons set out below.
1 Estimated yield assumes four quarterly dividends of US$0.20 per common share and has been calculated using today’s
CAD$ to US$ exchange rate of 1.3743 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 (Canada): +1-604-806-3589 Tel: +1 604 806 3089
[email protected] [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
26, 2024, which is available at www.lundingold.com or on www.sedarplus.ca.
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 relating
to: instability in Ecuador; community relations; forecasts relating to production and costs; mining operations; security; non -compliance
with laws and regulations and compliance costs; tax changes in Ecuador; waste disposal and tailings; government or regulatory approvals;
environmental compliance; gold price; infrastructure; dependence on a single mine; exploration and development; control of Lundin Gold;
availability of workforce and labour relations; dividends; information systems and cyber security; Mineral Reserve and Mineral Resource
estimates; title matters and surface rights and access; health and safety; human rights; employee misconduct; measures to pro tect
biodiversity; endangered species and critical habitats; global ec onomic conditions; shortages of critical resources; competition for new
projects; key talent recruitment and retention; market price of the Company's shares; social media and reputation; insurance and
uninsured risks; pandemics; epidemics or infectious dis ease outbreak; climate change; illegal mining; conflicts of interest; ability to
maintain obligations or comply with debt; violation of anti -bribery and corruption laws; internal controls; claims and legal proceedings;
reclamation obligations.