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LUG.TO ·

Lundin GOLD Share Capital and Voting Rights Update

Share Capital & Compensation

NEWS RELEASE

Vancouver, July 31, 2024

Lundin Gold Inc. Suite 2800, Four Bentall Centre Phone: +1 604 689 7842 lundingold.com

1055 Dunsmuir Street Fax: +1 604 689 4250 Email: [email protected]

Vancouver, BC, Canada, V7X 1L2

LUNDIN GOLD SHARE CAPITAL AND VOTING RIGHTS UPDATE

Lundin Gold Inc. (TSX: LUG ; Nasdaq Stockholm: LUG ; OTCQX: LUGDF ) ("Lundin Gold" or the "Company")

reports the following in accordance with the Swedish Financial Instruments Trading Act.

As a result of the exercise of stock options under Lundin Gold's equity compensation plan during the month of

July, the Company now has 239,602,966 common shares issued and outstanding with voting rights as at July 31,

2024.

This figure may be used by shareholders as the denominator for the calculation by which they will determine if

they are required to notify their interest in, or a change in their interest in, the Company under the Swedish

Financial Instruments Trading Act on disclosure of major shareholdings (Transparency Rules).

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, is committed to positive and long-lasting impact on our host

communities, while delivering significant value to stakeholders through operational excellence, cash flow

generation and focused growth. Lundin Go ld currently operates its 100% owned Fruta del Norte ("FDN") gold

mine in southeast Ecuador, which is one of the highest-grade gold mines in production in the world today. The

Company also owns a portfolio of prospective exploration properties close to FDN.

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 July 31, 2024 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 & Corporate Development

Tel (Canada): +1-604-806-3589 Tel: +1 604 806 3089

[email protected] [email protected]