Lundin GOLD Reaches Key Milestones IN Its Internet Connectivity Project to Support Education FOR Local Communities Near Fruta Del Norte
NEWS RELEASE
Vancouver, June 7, 2021
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 REACHES KEY MILESTONES IN ITS INTERNET CONNECTIVITY PROJECT
TO SUPPORT EDUCATION FOR LOCAL COMMUNITIES NEAR FRUTA DEL NORTE
Lundin Gold Inc. (TSX: LUG; Nasdaq Stockholm: LUG) ("Lundin Gold" or the "Company") is pleased to report
on its initiative to provide critical access to online education for students in rural communities close to its Fruta
del Norte (“FDN”) mine in Ecuador, who have been out of school since the onset of the COVID-19 pandemic.
The Estamos Conectados project, which was launched in early 2021, improve s internet infrastructure and
provides teachers and children enrolled in local schools with the necessary training and equipment to facilitate
online learning. Since March 2020, local schools hav e been closed due to t he COVID -19 pandemic, and a s a
result, children are challenged to learn remotely in communities where local internet infrastructure is weak or
non-existent and without appropriate equipment to access the internet. The project entails the establishment
of a fibre optic connection for rural communities in the Los Encuentros parish, free Wi -Fi access points in each
of the communities, special connections for communities where fibre optic is not viable, internet for the school
in Los Encue ntros, the purchase and distribution of 1,370 tablets for students, other infrastructure
improvements and support and training for teachers to support remote learning.
Marking a significant milestone in the project, all 1,370 tablets have now been distributed to the students in the
Los Encuentros parish as well as several other rural communities close to FDN . Internet service for the “Unidad
Educativa del Milenio 10 de Noviembre” (UEM) School in Los Encuentros has been increased by 50 M bps,
enabling 73 teachers to work virtually with students during the ongoing COVID-19 pandemic. The installation of
fibre optic infrastructure to provide improved internet service to these communities, benefiting nearly 1,000
families, is well underway, and the establishment of free W i-Fi internet hotspots in 21 communities is now
complete.
Ron Hochstein, President and CEO, commented, "Education is a key pillar of Lundin Gold’s sustainability strategy,
and the Estamos Conectados pro ject strengthens the educational system in communities close to FDN. In
launching the Estamos Conectados project, Lundin Gold, the Lundin Foundation and our partners have a shared
vision of ensuring that educational opportunities are available to local youth in spite of the challenges presented
by the pandemic. Collectively, our organizations have contributed more than $ 600,000 to date. Together with
the local education authorities, the national government, and local stakeholders, we will continue to seek
opportunities to facilitate the delivery and improve the quality of local education, particularly in FDN’s area of
influence.”
Lundin Gold is very appreciative of the numerous partners who have committed to supporting this connectivity
project through the Lundin Foundation. In particular, the Company would like to thank the Bank of Nova Scotia,
Blake, Cassels & Graydon LLP , BMO Capital Markets , Boliden AB, ING Capital LLC , Natixis, and Norton Rose
Fulbright for their generous contributions.
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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 commi tted 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 June 7, 2021 at 3:00 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]
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, object ives,
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 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 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, such as in statements relating to the completion of the
Estamos Conectados project and the benefits to be derived therefrom . There can be no assurance that such statements will prove to be
accurate, as Lundin Gold's actual results and future events could differ mater ially 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 2,
2021, 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 in clude: risks
relating to the impacts of a pandemic virus outbreak, political and economic instability in Ecuador, production estimates, mining
operations, the Company's community relationships, ability to maintain obligations or comply with debt, financing requirements, volatility
in the price of gold, shortages of critical supplies, compliance with environmental laws and liability for environmental contamination, lack
of availability of infrastructure, the Company's reliance on one mine, deficient or vulnerable title to concessions, easements and surface
rights, uncertainty with the tax regime in Ecuador, the Company’s workforce and its labour relations, inherent safety hazards and risks
to the health and safety of the Company’s employees and contractors, the Company’s ability to obtain, maintain or renew regulatory
approvals, permits and licenses, the imprecision of mineral reserve and resource estimates, key talent recruitment and retention of key
personnel, volatility in the market price of the shares, the potential influence of the Company's largest shareholders, measures to protect
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endangered species and critical habitats, the reliance of the Company on its information systems and the risk of cyber -attacks on those
systems, the cost of non-compliance and compliance costs, exploration and development risks, risks related to illegal mining, the adequacy
of the Company’s insurance, uncertainty as to reclamation and decommissioning, the ability of Lundin Gold to ensure compliance wit h
anti-bribery and anti - corruption laws, the uncertainty regarding risks posed by climate change, the potential for litigation, limits of
disclosure and internal controls, security risks to the Company, its assets and its personnel, conflicts of interest, risks that the Company
will not declare dividends and social media and reputation.
Figure 1: 1,370 tablets have been distributed to students in FDN’s area of influence. The tablets will facilitate
online learning in communities where schools have been closed as a result of the COVID-19 pandemic.
Figure 2: a local resident collects a tablet for her child from the “Unidad Educativa del Milenio 10 de Noviembre”
(UEM) School in Los Encuentros.