Lundin GOLD Provides Further Update ON Its Fruta Del Norte GOLD Project
885 West Georgia Street T +1 604 689 7842
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Vancouver, BC [email protected]
Canada V6C 3E8 lundingold.com
NEWS RELEASE
LUNDIN GOLD PROVIDES FURTHER UPDATE
ON ITS FRUTA DEL NORTE GOLD PROJECT
October 14, 2019 (Vancouver, Canada) Lundin Gold Inc. ("Lundin Gold" or the "Company")
(TSX: LUG, Nasdaq Stockholm: LUG) reports that operations are returning to normal as the
movement of key supplies and personnel to and from its Fruta del Norte gold project (the
“Project”) have resumed with the lifting of road blocks in Ecuador today. The Company’s efforts
are now focused on ramping up activities safely. Now that the Project is on the national power
grid, the Company expects that commissioning activities, which had been cut back, will return
to the normal plan within the next few days.
About Lundin Gold
Lundin Gold, headquartered in Vancouver, Canada, is developing its wholly-owned Fruta del
Norte gold project in southeast Ecuador. Fruta del Norte is one of the world's largest, highest-
grade gold projects currently under construction. The Company's board and managemen t
team have extensive expertise in mine construction and operations, and are dedicated to
advancing this project through to first gold production in the fourth quarter of this year.
The Company operates with transparency and in accordance with internationa l 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 Swedish Financial Instruments Trading Act. This information was publicly communicated
on October 14, 2019 at 4:00 p.m. Pacific Time through the contact persons set out below.
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For more information, please contact
Lundin Gold Inc.
Ron F. Hochstein
President and CEO
+593 2-299-6400
+604-806-3589
Lundin Gold Inc.
Sabina Srubiski
Manager, Investor Relations
+1-604-806-3089
www.lundingold.com
Follow Lundin Gold on Twitter
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, objectives,
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 assum ptions, 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 update this information, unless
required to do so by securities laws.
This press release contains forward -looking information in a number of places, s uch as in statements
pertaining to: the impact of civil unrest in Ecuador , the Company’s efforts to mitigate the impact of the
disruption on the Project and resume operations, the timing of first gold and commercial production and
the progress of the development, construction and operation of the Project and the timing and success
of permitting and regulatory approvals.
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 27, 2019, 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 share s, include: receipt of regulatory approvals, risks
associated with the Company's community relationships; risks and hazards inherent in mining and
processing; lack of availability of or interference with infrastructure; risks related to Lundin Gold's
compliance with increasingly strict environmental laws and liability for environmental contamination;
risks related political and economic instability in Ecuador; deficient or vulnerable title to mining
concessions and surface rights; risk to shareholders of di lution from future equity financings; failure to
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maintain its obligations under its debt facilities; shortages of critical resources, such as skilled labour
and supplies, consumables and equipment; inherent safety hazards and risk to the health and safety of
the Company's employees and contractors; volatility in the price of gold; the cost of compliance or failure
to comply with applicable laws; the timely receipt of regulatory approvals, permits and licenses; risks
associated with the performance of the Company's contractors; the imprecision of Mineral Reserve and
Resource estimates; dependence on key personnel; volatility in the market price of the Company's
shares; the potential influence of the Company's largest shareholders; uncertainty with the tax r egime
in Ecuador; measures required to protect endangered species; exploration and development risks; the
Company's reliance on one project risks related to artisanal and illegal mining; the reliance of the
Company on its information systems and the risk of cyber-attacks on those systems; the ability to obtain
adequate insurance; uncertainty as to reclamation and decommissioning; the uncertainty regarding risks
posed by climate change; the ability of Lundin Gold to ensure compliance with anti -bribery and an ti-
corruption laws; the potential for litigation; and limits of disclosure and internal controls.