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Lundin GOLD Share Capital and Voting Rights Update

Share Capital & Compensation

NEWS RELEASE

LUNDIN GOLD SHARE CAPITAL AND VOTING RIGHTS UPDATE

February 28, 2017 (Vancouver, Canada)… Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX:

LUG, Nasdaq Stockholm: LUG) reports the following share capital and voting rights update in

accordance with the Swedish Financial Instruments Trading Act.

As a result of the issuance of 2,468 common shares in connection with the previously disclosed loan

facility, as at February 28, 2017, the Company has 118,748,003 common shares with voting rights

issued and outstanding.

About the Company

Lundin Gold Inc. owns the Fruta del Norte gold project located in southeast Ecuador. FDN is one of the

largest and highest grade undeveloped gold projects in the world. The Company is advancing FDN in

order to realize the significant potential of this asset.

The Company believes that the value created will not only greatly benef it shareholders, but also the

Government and people of Ecuador who are the Company's most important stakeholders in this project.

Lundin Gold views its commitment to corporate social responsibility as a strategic advantage that

enables it both to access an d effectively manage business opportunities in increasingly complex

environments. Lundin Gold is committed to addressing the challenge of sustainability - delivering value

to its shareholders, while simultaneously providing economic and social benefits to impacted

communities and minimizing its environmental footprint.

Additional Information

The Company is obliged to make this information public pursuant to the Financial Instruments Trading

Act (Sweden). The information was submitted for publication at 2:30 p.m. PT on February 28, 2017.

For more information, please contact

Lundin Gold Inc.

Ron F. Hochstein

President and CEO

+593-2-299-6400

+1-604-806-3589

Lundin Gold Inc.

Sophia Shane

Corporate Development

+1-604-689-7842

[email protected]

www.lundingold.com