Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (“Lundin Gold” or the “Company”) is pleased to announce positive results from its conversion and near-mine exploration drilling programs at its 100% owned Fruta del Norte (“FDN”) gold mine in southeast Ecuador. Notable conversion drilling results at Fruta del Norte South (“FDNS”) confirmed the deposit's continuity and identified additional mineralized zones. Mine engineering studies are underway aiming to integrate the FDNS deposit into the FDN long term mine plan. Concurrently, further high-grade results at FDN East continue to underscore the target's substantial growth potential. Highlights from the drilling programs at FDNS and FDN East are outlined below. Detailed results can be found in Appendix 1. PDF Version
Ron Hochstein, President and CEO, commented, “Conversion drilling on FDNS continues to yield some of the highest-grade results to date alongside the discovery of a new mineralized vein that lies outside the existing inferred resource. With significant advances in our engineering studies, we remain on track to integrate a portion of the FDNS mineralization in FDN's long-term mine plan, just a year since its maiden resource announcement. In addition, recent drill results at FDN East continue to underscore its excellent exploration potential, located in close proximity to our existing underground development.”
FDNS Conversion Drilling Highlights (not true widths):
— Drill hole FDN-C25-238 intersected 139.53 grams per tonne (“g/t”) of gold (“Au”) over 9.05m from 62.20m, including:
— 1,720 g/t Au over 0.70m
— Drill hole FDN-C25-234 intersected 220.32 g/t Au over 4.20m from 93.70m, including:
— 520.18 g/t Au over 1.75m
— Drill hole FDN-C25-245 intersected 43.77 g/t Au over 9.85m from 102.70m, including:
— 74,70 g/t Au over 3.80m
— Drill hole FDN-C25-205 intersected 31.63 g/t Au over 8.10m from 38.60m, including:
— 101.35 g/t Au over 1.40m
These conversion drilling results have confirmed the continuity of the mineralization at FDNS, with several higher-grade zones identified within the deposit. High-grade drill holes outside the current geological model demonstrate significant potential for further resource expansion. In addition, engineering studies are progressing well with the objective of integrating FDNS into FDN's long-term mine plan.
FDN East Drilling Highlights (not true widths):
— Drill hole UGE-E-25-207 intersected 6.61 g/t Au over 10.00 m from 497.15m including:
— 13.16 g/t Au over 3.95 m
— Drill hole FDNE-2025-279 intersected 11.52 g/t Au over 3.10m from 170.65m, including:
— 23.80 g/t Au over 1.30m
Drill results at FDN East have successfully expanded gold mineralization along the north extension and indicated potential areas for further growth.
DRILLING PROGRAMS
The Company's near-mine exploration strategy focuses on extending the mine life at FDN through the expansion of Mineral Resources and the delineation of new discoveries in close proximity to the operation. Over the past three years, exploration programs at FDN have significantly contributed to resource growth and successfully discovered new mineralized sectors. In recent months, the near mine underground drilling has prioritized the FDNS Mineral Resource conversion while simultaneously advancing exploration along the extensions of FDNS and at FDN East.
The 2025 drilling program is currently estimated to be a minimum of 108,000 metres consisting of 83,000 metres of exploration drilling and 25,000 metres of conversion drilling. Seventeen rigs are currently turning across the conversion and near-mine exploration programs.
FDNS
Since January, the underground drilling program at FDNS has focused on converting Inferred Mineral Resources to the Indicated category. The objective of the conversion program is to integrate the deposit into FDN's long-term mine plan in 2026. The program also continues to explore distinct sectors within FDNS. Delineated in 2024, the FDNS deposit is an epithermal vein system located along the southern limit of FDN, currently estimated to contain an Inferred Resource of approximately 2.09 million ounces (Moz) from 12.35 million tonnes (Mt) with an average grade of 5.25 g/t. For more information on the FDN Mineral Reserve and Resource estimate as at December 31, 2024, please refer to the Company's Annual Information Form dated March 17, 2025 (the “AIF”) under the Company's profile at www.sedarplus.ca.
During the second quarter, the conversion drilling program completed a total of 7,085 metres of underground drilling across 50 drill holes. The majority of these drill holes confirmed mineralization continuity with several outstanding intercepts which defined higher-grade zones within the vein system (see Figure 1 and 2). Notably drill holes FDN-C25-238 (139.53 g/t Au over 9.05m) and FDN-C25-234 (220.32 g/t Au over 4.20m) represent some of the highest-grade intercepts ever recorded at FDNS. Assay results from the drilling undertaken at FDNS are presented in Table 1.
The conversion drill holes also indicate additional gold mineralization extending beyond currently defined zones. Highlights include drill hole FDN-C25-205(31.63 g/t Au over 8.10m) which is related to a mineralized zone in the central portion of FDNS (See Figure 2). In the eastern limit, drill hole FDN-C25-227 (18.86 g/t Au @ 9.60m) revealed a new mineralized veinthat lies outside the existing inferred resource, indicating further expansion potential towards the south (See Figure 1 and 2). Three underground rigs are currently dedicated to the conversion drilling program at FDNS.
The FDNS deposit remains open for expansion along its north and south extensions. Since June, three rigs have been exploring the expansion potential of the deposit with several exploration drill holes completed during this period with assays pending.
Mine planning work is underway on FDNS to evaluate geotechnical, mine design, metallurgical characteristics and infrastructure needs with the goal of integrating the Mineral Resource estimate at FDNS into FDN's updated long-term mine plan.
FDN EAST
At FDN East, the exploration program continues to define and expand this new buried epithermal mineralized system located only 100 metres east of FDN. Since its discovery, the drilling program has advanced our understanding of the main geological controls, leading to the delineation of subparallel mineralized veins oriented north to south in the central part of the target (see Figure 3).
The most recent drilling results intercepted the continuity of this new system in the northern portion of the sector, indicating promising areas for further expansion potential (Figure 3). Highlights include drill holes UGE-E-25-207 (4.84 g/t Au over 3.05m and 6.61 g/t Au over 10.00m) and drill hole FDNE-2025-279 (11.52 g/t Au over 3.10m), which confirm that mineralization remains open along the north extension. Assay results from the drilling undertaken at FDN East are presented in Table 2. Currently, one underground rig is turning at FDN East.
Figure 1: Map showing FDNS deposit with selected FDNS conversion drilling results
Figure 2: A-A' FDNS cross section with selected conversion drilling results
Figure 3 : Map showing FDN East with selected drilling results
Qualified Persons and Technical Notes
The technical information contained in this News Release has been reviewed and approved by Andre Oliveira, P. Geo, Vice President, Exploration of the Company, who is a Qualified Person in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Samples consist of half HQ and NQ-size diamond core that are split by diamond saw on site, prepared at the ALS laboratory in Quito, and analyzed by 50g fire assay and multi-element (ICP-AES/ICP-MS) at the ALS Laboratory in Lima, Peru. The quality assurance-quality control (QA-QC) program of Lundin Gold includes the insertion of certified standards of known gold content, blank and duplicate samples. The remaining half core is retained for verification and reference purposes. For further information on the assay, QA-QC, and data verification procedures, please see Lundin Gold's AIF
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 and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. Furthermore, Lundin Gold is focused on continued exploration on its extensive and highly prospective land package to identify and develop new resource opportunities to ensure long-term sustainability and growth for the Company and its stakeholders.
Additional Information
The information in this release is subject to the disclosure requirements of Lundin Gold under the EU Market Abuse Regulation. This information was publicly communicated on July 31, 2025 at 2:00 p.m. Pacific Time through the contact persons set out below.
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, objectives, 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 Goldbelieves 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 Company's exploration plans, activities and results and its plans to update its estimates of Mineral Reserves and Resources. There can be no assurance that such statements will prove to be accurate, asLundin Gold'sactual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section inLundin Gold'sAIF.
Lundin Gold'sactual 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 include:instability in Ecuador; community relations;reliability of power supply; tax changes in Ecuador;security; availability of workforce and labour relations; mining operations; waste disposal and tailings;environmental compliance; illegal mining; Mineral Reserve and Mineral Resource estimates; infrastructure; regulatory risk; government or regulatory approvals; forecasts relating to production and costs;gold price;dependence on a single mine; shortages of critical resources; climate change; exploration and development;control of Lundin Gold; dividends; information systems and cyber security; title matters and surface rights and access;health and safety; human rights; employee misconduct; measures to protect biodiversity, endangered species and critical habitats; global economic conditions; competition for new projects; key talent recruitment and retention; market price of the Company's shares; social media and reputation; insurance and uninsured risks;pandemics, epidemics or infectious disease outbreak; conflicts of interest; violation of anti-bribery and corruption laws; internal controls; claims and legal proceedings; and reclamation obligations.
APPENDIX 1
Table 1:Drillhole assay results from the conversion drilling program at FDNS reported for thickness versus grade intervals above 14 (m x g/t Au >14). Drill hole intercepts are reported in drill core lengths and true widths
Hole ID From (m) To (m) Interval (m) True width (m) Au (g/t) Ag (g/t) Target ZoneFDN-C25-200 58.90 63.20 4.30 4.15 5.51 7.55 FDNS UndergroundFDN-C25-200 140.35 146.85 6.50 6.48 7.38 5.84FDN-C25-200 155.00 157.40 2.40 2.40 6.22 4.13FDN-C25-201 36.40 39.40 3.00 2.72 6.01 5.00 FDNS UndergroundFDN-C25-201 56.90 60.20 3.30 3.25 25.63 13.16 FDNS UndergroundIncluding 56.90 58.20 1.30 1.28 62.89 27.09FDN-C25-201 149.35 154.70 5.35 5.27 6.78 4.33Including 150.80 152.70 1.90 1.87 12.59 5.44FDN-C25-202 29.85 32.85 3.00 2.82 5.47 6.20 FDNS UndergroundFDN-C25-202 65.80 69.90 4.10 3.96 15.84 44.06FDN-C25-205 38.60 46.70 8.10 7.98 31.63 13.29 FDNS UndergroundIncluding 45.30 46.70 1.40 1.38 101.35 35.00FDN-C25-205 49.75 52.25 2.50 2.46 8.20 2.68FDN-C25-205 83.75 88.50 4.75 4.73 6.77 2.37FDN-C25-205 95.95 101.00 5.05 5.03 7.37 1.98FDN-C25-205 187.50 191.00 3.50 3.49 6.25 0.61FDN-C25-206 33.65 36.70 3.05 1.96 45.78 21.89 FDNS UndergroundIncluding 34.30 34.70 0.40 0.26 340.00 141.00FDN-C25-208 67.90 73.90 6.00 5.80 10.33 23.50 FDNS UndergroundIncluding 67.90 68.90 1.00 0.97 43.90 26.00FDN-C25-209 48.20 52.95 4.75 4.46 20.28 16.06 FDNS UndergroundIncluding 48.20 50.05 1.85 1.74 50.25 37.85FDN-C25-209 74.80 78.20 3.40 3.08 5.02 12.19 FDNS UndergroundFDN-C25-209 103.80 108.10 4.30 3.90 9.64 4.63Including 104.80 105.80 1.00 0.91 33.80 7.00FDN-C25-209 155.55 159.50 3.95 3.89 6.40 6.20FDN-C25-210 21.10 23.50 2.40 1.70 9.27 7.88 FDNS UndergroundIncluding 21.70 22.75 1.05 0.74 20.10 12.30FDN-C25-210 104.15 107.80 3.65 3.16 5.63 62.11FDN-C25-211 90.05 94.20 4.15 4.09 4.16 9.93 FDNS UndergroundIncluding 90.05 90.75 0.70 0.69 16.25 29.20FDN-C25-212 No Significant Results FDNS UndergroundFDN-C25-213 86.00 88.90 2.90 2.51 28.30 9.63 FDNS UndergroundIncluding 87.45 88.20 0.75 0.65 107.50 30.20FDN-C25-214 85.95 90.80 4.85 4.83 4.71 15.73 FDNS UndergroundIncluding 87.00 88.80 1.80 1.79 9.91 24.09FDN-C25-214 98.00 100.00 2.00 1.99 75.83 31.01FDN-C25-214 125.75 133.35 7.60 7.14 6.34 15.68Including 126.85 131.70 4.85 4.56 8.12 20.86FDN-C25-215 No Significant Results FDNS UndergroundFDN-C25-216 58.80 62.00 3.20 3.15 12.00 3.60 FDNS UndergroundFDN-C25-216 130.45 132.60 2.15 2.14 11.00 4.82FDN-C25-217 71.50 78.20 6.70 6.07 35.16 22.14 FDNS UndergroundIncluding 71.50 73.10 1.60 1.45 80.33 24.11Including 76.90 78.20 1.30 1.18 72.60 68.82FDN-C25-217 139.90 147.70 7.80 7.68 8.19 6.79Including 145.45 147.70 2.25 2.22 10.97 9.30FDN-C25-218 0.50 8.30 7.80 3.90 5.38 12.80 FDNS UndergroundFDN-C25-218 10.20 14.30 4.10 2.05 9.54 7.19FDN-C25-218 44.80 48.50 3.70 2.12 7.17 15.75FDN-C25-218 100.45 107.00 6.55 5.37 7.35 7.71FDN-C25-219 70.60 74.80 4.20 3.44 5.25 7.08 FDNS UndergroundFDN-C25-220 75.45 78.55 3.10 2.91 7.88 7.02 FDNS UndergroundFDN-C25-221 115.60 121.20 5.60 5.58 6.50 4.34 FDNS UndergroundIncluding 115.60 117.00 1.40 1.39 12.76 12.49FDN-C25-222 73.45 77.45 4.00 3.86 5.27 6.23 FDNS UndergroundFDN-C25-222 112.80 120.35 7.55 7.09 11.47 10.18Including 115.90 118.25 2.35 2.21 29.48 18.54FDN-C25-223 104.60 109.30 4.70 4.70 11.11 13.07 FDNS UndergroundIncluding 107.80 109.30 1.50 1.50 24.42 18.25FDN-C25-224 20.00 24.90 4.90 4.60 4.59 6.12 FDNS UndergroundIncluding 23.90 24.90 1.00 0.94 8.25 10.40FDN-C25-224 39.10 49.40 10.30 7.89 3.86 2.86 FDNS UndergroundIncluding 39.10 41.30 2.20 1.69 8.01 5.59FDN-C25-224 81.70 84.80 3.10 3.09 9.30 10.94Including 81.70 82.40 0.70 0.70 34.90 21.80FDN-C25-224 91.70 95.40 3.70 3.64 9.22 14.93FDN-C25-224 118.50 122.10 3.60 3.55 7.18 7.67Including 118.50 119.20 0.70 0.69 19.10 10.70FDN-C25-225 No Significant Results FDNS UndergroundFDN-C25-226 28.65 31.50 2.85 2.75 11.61 8.09 FDNS UndergroundFDN-C25-226 41.80 46.65 4.85 4.78 5.47 12.11Including 43.25 43.65 0.40 0.39 50.90 42.70FDN-C25-226 48.40 53.60 5.20 4.89 11.79 12.38Including 50.90 53.60 2.70 2.54 18.42 17.39FDN-C25-226 68.20 73.00 4.80 4.35 4.35 17.40FDN-C25-226 89.95 95.15 5.20 3.98 3.60 15.97FDN-C25-227 105.80 108.30 2.50 1.25 12.52 9.40 FDNS UndergroundFDN-C25-227 111.55 115.00 3.45 1.73 7.95 24.50FDN-C25-227 141.85 146.95 5.10 3.28 6.89 42.35FDN-C25-227 166.70 169.00 2.30 1.48 11.60 53.00FDN-C25-227 213.10 222.70 9.60 6.79 18.86 222.95Including 214.20 216.00 1.80 1.27 29.96 338.00Including 220.90 222.70 1.80 1.27 56.68 379.67FDN-C25-228 30.10 32.90 2.80 2.37 5.16 5.18 FDNS UndergroundIncluding 30.70 31.90 1.20 1.02 10.03 5.53FDN-C25-228 47.50 51.40 3.90 2.99 5.49 6.59FDN-C25-229 98.10 103.90 5.80 5.45 3.32 5.36 FDNS UndergroundIncluding 98.10 99.20 1.10 1.03 6.05 5.80FDN-C25-230 89.55 93.80 4.25 3.26 3.70 4.44 FDNS UndergroundFDN-C25-230 123.10 127.10 4.00 2.83 3.63 1.25FDN-C25-230 136.70 146.00 9.30 6.58 4.02 1.21FDN-C25-230 152.20 157.10 4.90 3.75 6.16 2.70FDN-C25-231 No Significant Results FDNS UndergroundFDN-C25-232 103.40 107.90 4.50 4.43 4.25 2.99 FDNS UndergroundFDN-C25-233 23.60 26.70 3.10 2.54 6.74 2.25 FDNS UndergroundFDN-C25-233 66.20 69.20 3.00 3.00 10.98 5.17Including 68.20 69.20 1.00 1.00 31.30 8.30FDN-C25-233 84.90 87.80 2.90 2.80 5.26 2.67FDN-C25-234 14.50 25.70 11.20 9.17 7.74 7.42 FDNS UndergroundIncluding 16.50 18.70 2.20 1.80 20.76 17.45Including 21.65 23.55 1.90 1.56 10.01 8.60FDN-C25-234 93.70 97.90 4.20 3.81 220.32 67.79Including 96.15 97.90 1.75 1.59 520.18 150.91FDN-C25-235 12.70 13.95 1.25 0.96 12.23 5.76 FDNS UndergroundFDN-C25-235 43.90 48.80 4.90 4.24 5.32 5.30FDN-C25-235 53.20 56.50 3.30 2.86 12.24 8.62FDN-C25-236 11.75 16.45 4.70 4.63 7.19 16.10 FDNS UndergroundIncluding 14.20 16.45 2.25 2.22 12.31 20.00FDN-C25-236 48.60 57.15 8.55 8.52 14.23 13.89Including 48.60 49.90 1.30 1.30 76.16 29.06FDN-C25-236 63.80 67.55 3.75 3.74 22.34 14.54Including 64.20 66.50 2.30 2.29 34.59 18.84FDN-C25-236 95.40 96.85 1.45 1.45 16.43 13.63FDN-C25-236 105.55 106.60 1.05 1.05 15.75 13.00FDN-C25-237 12.50 14.70 2.20 1.41 10.14 9.67 FDNS UndergroundFDN-C25-237 74.10 78.25 4.15 2.93 4.29 10.59FDN-C25-238 6.35 9.25 2.90 2.89 12.30 8.71 FDNS UndergroundIncluding 6.35 7.35 1.00 1.00 29.00 12.80FDN-C25-238 54.75 58.15 3.40 3.19 7.06 12.05Including 56.75 58.15 1.40 1.32 13.06 11.14FDN-C25-238 62.20 71.25 9.05 8.74 139.53 53.03Including 70.55 71.25 0.70 0.68 1720.00 522.00FDN-C25-238 81.50 88.25 6.75 6.34 7.18 15.33Including 85.80 88.25 2.45 2.30 15.30 24.79FDN-C25-238 91.40 102.90 11.50 10.81 28.62 24.65Including 98.70 100.40 1.70 1.60 148.56 80.06FDN-C25-238 127.10 130.50 3.40 3.19 19.93 12.79Including 130.00 130.50 0.50 0.47 120.00 38.10FDN-C25-238 161.95 171.40 9.45 9.31 9.77 11.20Including 161.95 163.70 1.75 1.72 18.38 28.63Including 170.40 171.40 1.00 0.98 30.20 9.50FDN-C25-239 81.40 84.90 3.50 3.45 9.62 8.65 FDNS UndergroundIncluding 83.15 84.90 1.75 1.72 17.33 13.44FDN-C25-239 113.10 118.25 5.15 5.07 6.02 35.97Including 117.20 118.25 1.05 1.03 20.94 140.90FDN-C25-240 No Significant Results FDNS UndergroundFDN-C25-241 56.60 64.95 8.35 5.90 3.49 3.37 FDNS UndergroundIncluding 63.95 64.95 1.00 0.71 9.72 2.50FDN-C25-241 69.10 73.70 4.60 3.25 4.23 1.90Including 72.10 73.70 1.60 1.13 8.39 2.70FDN-C25-241 105.20 109.05 3.85 2.72 3.99 1.38FDN-C25-241 155.75 161.55 5.80 3.73 7.23 6.47Including 160.55 161.55 1.00 0.64 26.00 23.40FDN-C25-241 177.50 185.00 7.50 4.82 6.01 2.78Including 177.50 179.55 2.05 1.32 9.45 1.75FDN-C25-242 90.70 95.40 4.70 3.02 3.29 0.86 FDNS UndergroundIncluding 91.80 92.90 1.10 0.71 5.14 1.20FDN-C25-243 41.10 48.10 7.00 6.34 5.20 2.10 FDNS UndergroundIncluding 47.10 48.10 1.00 0.91 19.65 3.50FDN-C25-243 101.80 106.10 4.30 4.15 3.74 2.25FDN-C25-244 16.00 23.20 7.20 5.90 2.68 3.67 FDNS UndergroundIncluding 16.00 17.00 1.00 0.82 6.14 5.00Including 22.35 23.20 0.85 0.70 8.53 8.00FDN-C25-244 38.20 43.20 5.00 4.53 4.08 5.38Including 40.20 41.20 1.00 0.91 14.45 11.60FDN-C25-245 17.80 27.10 9.30 7.12 6.32 7.24 FDNS UndergroundIncluding 17.80 18.90 1.10 0.84 35.00 17.80FDN-C25-245 102.70 112.55 9.85 9.26 43.77 13.97Including 102.70 106.50 3.80 3.57 74.70 23.29Including 111.45 112.55 1.10 1.03 122.50 21.70FDN-C25-246 33.40 40.40 7.00 6.76 4.06 3.50 FDNS UndergroundFDN-C25-246 91.75 95.60 3.85 3.72 4.53 4.09FDN-C25-247 17.30 27.25 9.95 6.40 9.33 8.62 FDNS UndergroundIncluding 19.30 23.80 4.50 2.89 18.65 11.66FDN-C25-248 98.30 106.05 7.75 7.63 6.35 4.00 FDNS UndergroundIncluding 103.60 104.90 1.30 1.28 9.82 6.94FDN-C25-249 Pending Results FDNS UndergroundFDN-C25-250 Pending Results FDNS UndergroundFDN-C25-251 Pending Results FDNS UndergroundFDN-C25-252 Pending Results FDNS UndergroundFDN-C25-253 Pending Results FDNS UndergroundFDN-C25-254 Pending Results FDNS UndergroundFDN-C25-255 Pending Results FDNS UndergroundFDN-C25-256 142.40 149.90 7.50 6.50 4.89 5.68 FDNS UndergroundIncluding 144.50 146.40 1.90 1.65 8.06 5.29FDN-C25-257 Pending Results FDNS UndergroundFDN-C25-258 Pending Results FDNS UndergroundFDN-C25-259 Pending Results FDNS UndergroundFDN-C25-260 Pending Results FDNS UndergroundFDN-C25-261 Pending Results FDNS UndergroundFDN-C25-262 Pending Results FDNS UndergroundFDN-C25-263 Pending Results FDNS UndergroundFDN-C25-264 Pending Results FDNS UndergroundFDN-C25-265 Pending Results FDNS Underground
Table 2:Drillhole assay results from FDN East. Drill hole intercepts are reported in drill core lengths.
Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Target ZoneFDNE-2025-279 170.65 173.75 3.10 11.52 5.63 FDN-East SurfaceIncluding 171.45 172.75 1.30 23.80 10.91FDNE-2025-279 506.15 508.90 2.75 1.42 1.14UGE-E-25-207 168.65 171.10 2.45 4.02 4.56 FDN-East UndergroundUGE-E-25-207 173.55 176.60 3.05 4.84 3.30Including 174.60 175.60 1.00 14.00 7.20UGE-E-25-207 497.15 507.15 10.00 6.61 10.24Including 501.60 505.55 3.95 13.16 18.91UGE-E-25-247 20.80 23.20 2.40 2.04 5.31 FDN-East UndergroundUGE-E-25-247 35.40 37.40 2.00 2.57 7.80UGE-E-25-247 462.20 464.35 2.15 2.24 7.33UGE-E-25-309 Pending Results FDN-East Underground
Table 3: FDNS and FDN East Collar Drill Holes
Hole ID Target Easting Northing Elevation Azimuth Dip EOH (m) Drilling Type YearFDN-C25-200 FDNS 778176 9582353 1092 317 18 160.0 Underground 2025FDN-C25-201 FDNS 778176 9582354 1091 324 16 163.0 Underground 2025FDN-C25-202 FDNS 778176 9582353 1091 316 10 150.0 Underground 2025FDN-C25-205 FDNS 778191 9582256 1093 254 19 218.4 Underground 2025FDN-C25-206 FDNS 778195 9582257 1091 90 -70 60.4 Underground 2025FDN-C25-208 FDNS 778176 9582353 1091 308 11 142.0 Underground 2025FDN-C25-209 FDNS 778176 9582353 1091 322 1 162.0 Underground 2025FDN-C25-210 FDNS 778199 9582239 1093 75 23 114.4 Underground 2025FDN-C25-211 FDNS 778199 9582239 1092 77 -1 109.0 Underground 2025FDN-C25-212 FDNS 778199 9582239 1092 99 -18 110.8 Underground 2025FDN-C25-213 FDNS 778199 9582241 1094 101 36 90.0 Underground 2025FDN-C25-214 FDNS 778176 9582353 1091 307 2 145.0 Underground 2025FDN-C25-215 FDNS 778176 9582353 1092 300 21 142.0 Underground 2025FDN-C25-216 FDNS 778176 9582353 1091 299 11 135.0 Underground 2025FDN-C25-217 FDNS 778176 9582353 1091 315 2 155.0 Underground 2025FDN-C25-218 FDNS 778169 9582488 1087 317 -19 126.1 Underground 2025FDN-C25-219 FDNS 778169 9582487 1088 312 -2 100.0 Underground 2025FDN-C25-220 FDNS 778169 9582485 1089 283 25 100.0 Underground 2025FDN-C25-221 FDNS 778175 9582353 1091 290 12 130.0 Underground 2025FDN-C25-222 FDNS 778175 9582353 1092 290 21 132.0 Underground 2025FDN-C25-223 FDNS 778175 9582352 1092 280 22 130.0 Underground 2025FDN-C25-224 FDNS 778175 9582352 1091 299 2 138.0 Underground 2025FDN-C25-225 FDNS 778175 9582352 1091 280 12 139.0 Underground 2025FDN-C25-226 FDNS 778222 9582328 1183 93 -33 121.9 Underground 2025FDN-C25-227 FDNS 778222 9582328 1182 97 -63 243.4 Underground 2025FDN-C25-228 FDNS 778222 9582327 1183 116 -46 140.0 Underground 2025FDN-C25-229 FDNS 778161 9582154 1192 292 -5 145.0 Underground 2025FDN-C25-230 FDNS 778161 9582154 1192 283 -25 176.0 Underground 2025FDN-C25-231 FDNS 778161 9582155 1193 317 8 100.0 Underground 2025FDN-C25-232 FDNS 778177 9582351 1183 280 5 149.9 Underground 2025FDN-C25-233 FDNS 778177 9582351 1183 280 -7 120.4 Underground 2025FDN-C25-234 FDNS 778177 9582351 1182 280 -17 122.0 Underground 2025FDN-C25-235 FDNS 778222 9582327 1185 118 24 80.0 Underground 2025FDN-C25-236 FDNS 778222 9582327 1184 127 -5 115.0 Underground 2025FDN-C25-237 FDNS 778222 9582327 1186 131 38 137.5 Underground 2025FDN-C25-238 FDNS 778221 9582326 1183 133 -31 200.4 Underground 2025FDN-C25-239 FDNS 778221 9582326 1184 141 0 170.3 Underground 2025FDN-C25-240 FDNS 778161 9582155 1192 314 -26 120.6 Underground 2025FDN-C25-241 FDNS 778161 9582155 1192 320 -36 235.0 Underground 2025FDN-C25-242 FDNS 778161 9582154 1192 297 -42 192.2 Underground 2025FDN-C25-243 FDNS 778178 9582352 1183 291 6 126.9 Underground 2025FDN-C25-244 FDNS 778178 9582352 1183 291 -5 122.0 Underground 2025FDN-C25-245 FDNS 778178 9582351 1183 291 -15 127.2 Underground 2025FDN-C25-246 FDNS 778178 9582352 1184 292 10 134.3 Underground 2025FDN-C25-247 FDNS 778178 9582351 1182 299 -24 145.0 Underground 2025FDN-C25-248 FDNS 778178 9582352 1183 305 2 130.0 Underground 2025FDN-C25-249 FDNS 778177 9582157 1192 317 -15 290.0 Underground 2025FDN-C25-250 FDNS 778177 9582157 1192 305 -19 227.6 Underground 2025FDN-C25-251 FDNS 778178 9582157 1192 331 -34 203.4 Underground 2025FDN-C25-252 FDNS 778220 9582326 1183 149 -51 130.0 Underground 2025FDN-C25-253 FDNS 778220 9582326 1186 151 42 140.0 Underground 2025FDN-C25-254 FDNS 778221 9582326 1185 152 22 130.0 Underground 2025FDN-C25-255 FDNS 778220 9582326 1183 167 -36 190.0 Underground 2025FDN-C25-256 FDNS 778178 9582352 1182 316 -20 160.0 Underground 2025FDN-C25-257 FDNS 778178 9582352 1183 320 -5 160.0 Underground 2025FDN-C25-258 FDNS 778177 9582351 1182 292 -44 80.0 Underground 2025FDN-C25-259 FDNS 778182 9582366 1183 343 2 134.6 Underground 2025FDN-C25-260 FDNS 778182 9582366 1183 354 -6 140.0 Underground 2025FDN-C25-261 FDNS 778181 9582366 1183 321 -3 93.0 Underground 2025FDN-C25-262 FDNS 778220 9582326 1185 170 23 197.1 Underground 2025FDN-C25-263 FDNS 778220 9582326 1182 172 -57 189.5 Underground 2025FDN-C25-264 FDNS 778219 9582326 1183 175 16 125.0 Underground 2025FDN-C25-265 FDNS 778184 9582366 1182 32 -35 172.4 Underground 2025FDNE-2025-279 FDNE 778267 9583372 1524 99 -58 893.0 Underground 2025UGE-E-25-207 FDNE 778129 9583325 1270 119 0 511.7 Underground 2025UGE-E-25-247 FDNE 778130 9583339 1270 145 -7 620.0 Underground 2025UGE-E-25-309 FDNE 778188 9583153 1274 117 3 445.1 Underground 2025
SOURCE Lundin Gold Inc.
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