Mr. Ron Hochstein reports

LUNDIN GOLD SECURES CREDIT APPROVAL FOR US$300 MILLION SENIOR DEBT FACILITY FOR FRUTA DEL NORTE

Lundin Gold Inc. has received commitments from a syndicate of five senior lenders for a senior secured project finance facility of $300-million to finance the development and construction of its Fruta del Norte gold project in Ecuador. All amounts in this release are in U.S. dollars unless otherwise indicated.

The lenders are ING Capital LLC, Societe Generale, Caterpillar Financial Services Corp., Bank of Nova Scotia and KfW IPEX-Bank GmbH.

"Together with the project financing package from Orion Mine Finance Group and Blackstone Tactical Opportunities, this facility further reflects a strong endorsement of the project and confidence in the Lundin Gold team," said Ron Hochstein, president and chief executive officer of Lundin Gold. "We look forward to working with this supportive group of lenders as we continue to develop Fruta del Norte. The project remains on schedule and on budget to achieve first gold production by the end of 2019."

The facility will include two tranches: tranche A of $100-million, to be guaranteed by an export credit agency (ECA) satisfactory to the lenders, and tranche B of $200-million. The term of the facility will be 8.5 years. There are no mandatory requirements for gold hedging associated with the facility.

The facility is subject to completion of definitive documentation, which will include customary project finance terms, fees and conditions, a comprehensive intercreditor agreement, and completion of continuing due diligence.

The company is being advised on the debt financing by Endeavour Financial. Norton Rose Fulbright Canada LLP is acting as legal counsel to the company with support from the Lexim Abogados law firm in Ecuador.

About Lundin Gold Inc.

Lundin Gold, headquartered in Vancouver, Canada, is developing its wholly owned Fruta del Norte gold project in southeast Ecuador. Fruta del Norte is one of the largest, highest-grade gold projects currently under construction. The company's board and management team have extensive expertise in mine construction and operations and are dedicated to advancing this project through to first gold production in 2019.

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