Mr. Ron Hochstein reports

LUNDIN GOLD RELEASES 2024 SUSTAINABILITY REPORT

Lundin Gold Inc. has released its 2024 sustainability report which outlines the company's progress and performance against its five-year sustainability strategy across its business activities. All amounts are in United States dollars unless otherwise indicated.

"Last year was a remarkable year for our company. Along with 2024 marking our 10th anniversary in Ecuador and fifth anniversary of production, it was a year of record performance -- including our sustainability performance," said Ron Hochstein, president and chief executive officer of Lundin Gold. "As we close out our five-year sustainability strategy (2021 to 2025), we are seeing the cumulative positive impacts of our work, both in our area of influence and more broadly in Ecuador. We have already achieved the majority of our 2025 targets set under our strategy; this outstanding performance was achieved through the commitment of our employees who integrate sustainability across our business. I am proud of this work and look forward to developing our new five-year sustainability strategy, continuing to build trust with our stakeholders and creating shared value in Ecuador for generations to come."

Highlights of Lundin Gold's 2024 sustainability report:

• Achieved zero significant safety incidents (on site and off site);
• Achieved an industry low greenhouse gas (GHG) emissions (scopes 1 and 2) intensity of 0.10 tCO2e (tonnes of carbon dioxide equivalent) per ounce of gold produced;
• Met the five-year water reduction target early, achieving per-capita water consumption of 197 litres per day, a significant accomplishment compared with the 2021 per-capita consumption of 326 litres per day;
• Progressed alignment of the Fruta del Norte tailings facility with the Global Industry Standards for Tailings Management (GISTM);
• Surpassed the company's 2025 land reclamation and rehabilitation target by restoring a total of 15.4 hectares of land since 2021;
• Surpassed the company's 2025 waste management target through 94-per-cent recovery of non-hazardous solid waste (recycling and reuse); also achieved a 27-per-cent reduction in the generation of hazardous waste since 2021. Continued to divert more than 40 per cent of waste from tailings to backfill in the mine;
• Commenced the second phase of a large urban regeneration infrastructure project in the company's area of influence, with local government co-financing;
• Continued to provide internet connectivity to all 22 communities in our area of influence;
• Maintained strong support of local suppliers in Zamora Chinchipe through expenditures of $28-million in the year;
• Surpassed 3,400 psychotherapy sessions since the launch of a mental health and well-being program in the company's local community in November, 2023;
• Contributed to a 100-per-cent graduation rate at the local high school in the company's area of influence through the assistance of the company's educational support program;
• Increased direct economic contributions in Ecuador of $290-million, including wages and benefits, operating costs and community investments, as compared with $285-million in 2023.

Lundin Gold's sustainability report was developed with guidance from globally recognized sustainability reporting frameworks, standards, and recommendations, including the European Sustainability Reporting Standards (ESRS), Global Reporting Initiative (GRI) and the Sector Standard for Mining (GRI 14), Sustainability Standards Accounting Board (SASB) and United Nations Sustainable Development Goals (UN SDGs). As a participant of the UN Global Compact (UNGC), the 2024 sustainability report is part of the company's communication on progress commitment.

Lundin Gold's sustainability report is available for download on the company's website.

About Lundin Gold Inc.

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.

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