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LUG.TO ·

Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") announces that it will be hosting an Investor Day at the Ivey Donald K. Johnson Centre in Toronto on Wednesday,

Marketing Announcement

NEWS RELEASE

Vancouver, May 24, 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 TO HOST INVESTOR DAY ON JUNE 7, 2023

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

announces that it will be hosting an Investor Day at the Ivey Donald K. Johnson Centre in Toronto on Wednesday,

June 7, 2023, starting at 9:00 a.m. Eastern Time. Members of Lundin Gold’s management team including

President & CEO, Ron Hochstein; Interim CFO, Chester See; COO, Terry Smith; VP Business Sustainability, Nathan

Monash; and VP Exploration, Andre Oliveira, will be in attendance for the event.

For those wishing to attend the event in person, please RSVP to [email protected]. For those

unable to attend, a link to a live webcast and the presentation slideshow in PDF format will be available on the

Company’s website, www.lundingold.com, shortly before the event.

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]

[email protected]

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

This information was publicly communicated on May 24, 2023 at 2:00 p.m. Pacific Time through the contact

persons set out above.