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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

July 31, 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 48,620 common shares in connection with a previously disclosed loan

facility and the issuance of 184,750 common shares in connection with the exercise of employee stock

options, as at July 31, 2017 the number of issued a nd outstanding shares of the Company is

119,135,195 common shares with voting rights.

About the Company

Lundin Gold Inc., headquartered in Vancouver, Canad a, owns the Fruta del Norte gold project in

southeast Ecuador, which is one of the largest and highest grade undeveloped gold projects in the

world. The Company has an experienced board and ma nagement team with extensive expertise in

construction and operations dedicated to the advancement of this exceptional project.

The Company operates with transparency and in accor dance with international best practices in the

areas of sustainability, health and safety, environ ment and community relations. The Company is

committed to addressing the challenge of sustainabi lity - delivering value to its shareholders, while

simultaneously providing economic and social benefi ts to impacted communities and minimizing its

environmental footprint. The Company believes that the value created through the development of FDN

will not only greatly benefit its shareholders, but also the Government and people of Ecuador.

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 publication at 2:30 Pacific Time on July 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