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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

March 31, 2017 (Vancouver, Canada)… Lundin Gold Inc . ("Lundin Gold" or the "Company") (TSX:

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

accordance with the Swedish Financial Instruments Trading Act.

As a result of the issuance of 9,350 common shares in connection with a previously disclosed loan

facility and the issuance of 39,000 common shares i n connection with the exercise of employee stock

options, as at March 31, 2017 the number of issued and outstanding shares of the Company is

118,796,353 common shares with voting rights.

About the Company

Lundin Gold Inc. owns the Fruta del Norte (”FDN”) 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 no t only greatly benefit 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 socia l responsibility as a strategic advantage that

enables it both to access and effectively manage bu siness 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 pub lic pursuant to the Financial Instruments Trading

Act (Sweden). The information was submitted for pub lication at 2:30 p.m. Pacific Time on March 31,

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