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Lundin GOLD Files Amended Fruta Del Norte Technical Report

Technical Reports (NI 43-101)

NEWS RELEASE

Vancouver, March 31, 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 FILES AMENDED FRUTA DEL NORTE TECHNICAL REPORT

Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company")

announces that, due to corrections in the estimates of life of mine capital and operating costs, the Company

has amended its “N.I. 43-101 Technical Report – Fruta del Norte Mine, Ecuador” which was previously filed on

March 30, 2023.

The amended technical report supersedes the previously filed report in its entirety and was prepared in

accordance with National Instrument 43 -101 – Standards of Disclosure for Mineral Projects . The amended

technical report can be found on the Company’s website at www.lundingold.com or under the Company’s

issuer profile at www.sedar.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 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 publicly communicated on March 31, 2023 at 5:00 p.m. Pacific Time

through the contact persons set out below.

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]

[email protected]