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Lundin Gold Inc

LUNDIN GOLD REPORTS EXCEPTIONAL DRILLING RESULTS AT FDNS AND FDN EAST WITH FDNS ADVANCING TOWARDS INTEGRATION INTO MINE PLAN

VANCOUVER, BC , July 31, 2025 /CNW/ - 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 vein that 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 Gold believes 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, as Lundin Gold's actual 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 in Lundin Gold's AIF.

Lundin Gold's actual 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

Zone

FDN-C25-200

58.90

63.20

4.30

4.15

5.51

7.55

FDNS

Underground

FDN-C25-200

140.35

146.85

6.50

6.48

7.38

5.84

FDN-C25-200

155.00

157.40

2.40

2.40

6.22

4.13

FDN-C25-201

36.40

39.40

3.00

2.72

6.01

5.00

FDNS

Underground

FDN-C25-201

56.90

60.20

3.30

3.25

25.63

13.16

FDNS

Underground

Including

56.90

58.20

1.30

1.28

62.89

27.09

FDN-C25-201

149.35

154.70

5.35

5.27

6.78

4.33

Including

150.80

152.70

1.90

1.87

12.59

5.44

FDN-C25-202

29.85

32.85

3.00

2.82

5.47

6.20

FDNS

Underground

FDN-C25-202

65.80

69.90

4.10

3.96

15.84

44.06

FDN-C25-205

38.60

46.70

8.10

7.98

31.63

13.29

FDNS

Underground

Including

45.30

46.70

1.40

1.38

101.35

35.00

FDN-C25-205

49.75

52.25

2.50

2.46

8.20

2.68

FDN-C25-205

83.75

88.50

4.75

4.73

6.77

2.37

FDN-C25-205

95.95

101.00

5.05

5.03

7.37

1.98

FDN-C25-205

187.50

191.00

3.50

3.49

6.25

0.61

FDN-C25-206

33.65

36.70

3.05

1.96

45.78

21.89

FDNS

Underground

Including

34.30

34.70

0.40

0.26

340.00

141.00

FDN-C25-208

67.90

73.90

6.00

5.80

10.33

23.50

FDNS

Underground

Including

67.90

68.90

1.00

0.97

43.90

26.00

FDN-C25-209

48.20

52.95

4.75

4.46

20.28

16.06

FDNS

Underground

Including

48.20

50.05

1.85

1.74

50.25

37.85

FDN-C25-209

74.80

78.20

3.40

3.08

5.02

12.19

FDNS

Underground

FDN-C25-209

103.80

108.10

4.30

3.90

9.64

4.63

Including

104.80

105.80

1.00

0.91

33.80

7.00

FDN-C25-209

155.55

159.50

3.95

3.89

6.40

6.20

FDN-C25-210

21.10

23.50

2.40

1.70

9.27

7.88

FDNS

Underground

Including

21.70

22.75

1.05

0.74

20.10

12.30

FDN-C25-210

104.15

107.80

3.65

3.16

5.63

62.11

FDN-C25-211

90.05

94.20

4.15

4.09

4.16

9.93

FDNS

Underground

Including

90.05

90.75

0.70

0.69

16.25

29.20

FDN-C25-212

No Significant Results

FDNS

Underground

FDN-C25-213

86.00

88.90

2.90

2.51

28.30

9.63

FDNS

Underground

Including

87.45

88.20

0.75

0.65

107.50

30.20

FDN-C25-214

85.95

90.80

4.85

4.83

4.71

15.73

FDNS

Underground

Including

87.00

88.80

1.80

1.79

9.91

24.09

FDN-C25-214

98.00

100.00

2.00

1.99

75.83

31.01

FDN-C25-214

125.75

133.35

7.60

7.14

6.34

15.68

Including

126.85

131.70

4.85

4.56

8.12

20.86

FDN-C25-215

No Significant Results

FDNS

Underground

FDN-C25-216

58.80

62.00

3.20

3.15

12.00

3.60

FDNS

Underground

FDN-C25-216

130.45

132.60

2.15

2.14

11.00

4.82

FDN-C25-217

71.50

78.20

6.70

6.07

35.16

22.14

FDNS

Underground

Including

71.50

73.10

1.60

1.45

80.33

24.11

Including

76.90

78.20

1.30

1.18

72.60

68.82

FDN-C25-217

139.90

147.70

7.80

7.68

8.19

6.79

Including

145.45

147.70

2.25

2.22

10.97

9.30

FDN-C25-218

0.50

8.30

7.80

3.90

5.38

12.80

FDNS

Underground

FDN-C25-218

10.20

14.30

4.10

2.05

9.54

7.19

FDN-C25-218

44.80

48.50

3.70

2.12

7.17

15.75

FDN-C25-218

100.45

107.00

6.55

5.37

7.35

7.71

FDN-C25-219

70.60

74.80

4.20

3.44

5.25

7.08

FDNS

Underground

FDN-C25-220

75.45

78.55

3.10

2.91

7.88

7.02

FDNS

Underground

FDN-C25-221

115.60

121.20

5.60

5.58

6.50

4.34

FDNS

Underground

Including

115.60

117.00

1.40

1.39

12.76

12.49

FDN-C25-222

73.45

77.45

4.00

3.86

5.27

6.23

FDNS

Underground

FDN-C25-222

112.80

120.35

7.55

7.09

11.47

10.18

Including

115.90

118.25

2.35

2.21

29.48

18.54

FDN-C25-223

104.60

109.30

4.70

4.70

11.11

13.07

FDNS

Underground

Including

107.80

109.30

1.50

1.50

24.42

18.25

FDN-C25-224

20.00

24.90

4.90

4.60

4.59

6.12

FDNS

Underground

Including

23.90

24.90

1.00

0.94

8.25

10.40

FDN-C25-224

39.10

49.40

10.30

7.89

3.86

2.86

FDNS

Underground

Including

39.10

41.30

2.20

1.69

8.01

5.59

FDN-C25-224

81.70

84.80

3.10

3.09

9.30

10.94

Including

81.70

82.40

0.70

0.70

34.90

21.80

FDN-C25-224

91.70

95.40

3.70

3.64

9.22

14.93

FDN-C25-224

118.50

122.10

3.60

3.55

7.18

7.67

Including

118.50

119.20

0.70

0.69

19.10

10.70

FDN-C25-225

No Significant Results

FDNS

Underground

FDN-C25-226

28.65

31.50

2.85

2.75

11.61

8.09

FDNS

Underground

FDN-C25-226

41.80

46.65

4.85

4.78

5.47

12.11

Including

43.25

43.65

0.40

0.39

50.90

42.70

FDN-C25-226

48.40

53.60

5.20

4.89

11.79

12.38

Including

50.90

53.60

2.70

2.54

18.42

17.39

FDN-C25-226

68.20

73.00

4.80

4.35

4.35

17.40

FDN-C25-226

89.95

95.15

5.20

3.98

3.60

15.97

FDN-C25-227

105.80

108.30

2.50

1.25

12.52

9.40

FDNS

Underground

FDN-C25-227

111.55

115.00

3.45

1.73

7.95

24.50

FDN-C25-227

141.85

146.95

5.10

3.28

6.89

42.35

FDN-C25-227

166.70

169.00

2.30

1.48

11.60

53.00

FDN-C25-227

213.10

222.70

9.60

6.79

18.86

222.95

Including

214.20

216.00

1.80

1.27

29.96

338.00

Including

220.90

222.70

1.80

1.27

56.68

379.67

FDN-C25-228

30.10

32.90

2.80

2.37

5.16

5.18

FDNS

Underground

Including

30.70

31.90

1.20

1.02

10.03

5.53

FDN-C25-228

47.50

51.40

3.90

2.99

5.49

6.59

FDN-C25-229

98.10

103.90

5.80

5.45

3.32

5.36

FDNS

Underground

Including

98.10

99.20

1.10

1.03

6.05

5.80

FDN-C25-230

89.55

93.80

4.25

3.26

3.70

4.44

FDNS

Underground

FDN-C25-230

123.10

127.10

4.00

2.83

3.63

1.25

FDN-C25-230

136.70

146.00

9.30

6.58

4.02

1.21

FDN-C25-230

152.20

157.10

4.90

3.75

6.16

2.70

FDN-C25-231

No Significant Results

FDNS

Underground

FDN-C25-232

103.40

107.90

4.50

4.43

4.25

2.99

FDNS

Underground

FDN-C25-233

23.60

26.70

3.10

2.54

6.74

2.25

FDNS

Underground

FDN-C25-233

66.20

69.20

3.00

3.00

10.98

5.17

Including

68.20

69.20

1.00

1.00

31.30

8.30

FDN-C25-233

84.90

87.80

2.90

2.80

5.26

2.67

FDN-C25-234

14.50

25.70

11.20

9.17

7.74

7.42

FDNS

Underground

Including

16.50

18.70

2.20

1.80

20.76

17.45

Including

21.65

23.55

1.90

1.56

10.01

8.60

FDN-C25-234

93.70

97.90

4.20

3.81

220.32

67.79

Including

96.15

97.90

1.75

1.59

520.18

150.91

FDN-C25-235

12.70

13.95

1.25

0.96

12.23

5.76

FDNS

Underground

FDN-C25-235

43.90

48.80

4.90

4.24

5.32

5.30

FDN-C25-235

53.20

56.50

3.30

2.86

12.24

8.62

FDN-C25-236

11.75

16.45

4.70

4.63

7.19

16.10

FDNS

Underground

Including

14.20

16.45

2.25

2.22

12.31

20.00

FDN-C25-236

48.60

57.15

8.55

8.52

14.23

13.89

Including

48.60

49.90

1.30

1.30

76.16

29.06

FDN-C25-236

63.80

67.55

3.75

3.74

22.34

14.54

Including

64.20

66.50

2.30

2.29

34.59

18.84

FDN-C25-236

95.40

96.85

1.45

1.45

16.43

13.63

FDN-C25-236

105.55

106.60

1.05

1.05

15.75

13.00

FDN-C25-237

12.50

14.70

2.20

1.41

10.14

9.67

FDNS

Underground

FDN-C25-237

74.10

78.25

4.15

2.93

4.29

10.59

FDN-C25-238

6.35

9.25

2.90

2.89

12.30

8.71

FDNS

Underground

Including

6.35

7.35

1.00

1.00

29.00

12.80

FDN-C25-238

54.75

58.15

3.40

3.19

7.06

12.05

Including

56.75

58.15

1.40

1.32

13.06

11.14

FDN-C25-238

62.20

71.25

9.05

8.74

139.53

53.03

Including

70.55

71.25

0.70

0.68

1720.00

522.00

FDN-C25-238

81.50

88.25

6.75

6.34

7.18

15.33

Including

85.80

88.25

2.45

2.30

15.30

24.79

FDN-C25-238

91.40

102.90

11.50

10.81

28.62

24.65

Including

98.70

100.40

1.70

1.60

148.56

80.06

FDN-C25-238

127.10

130.50

3.40

3.19

19.93

12.79

Including

130.00

130.50

0.50

0.47

120.00

38.10

FDN-C25-238

161.95

171.40

9.45

9.31

9.77

11.20

Including

161.95

163.70

1.75

1.72

18.38

28.63

Including

170.40

171.40

1.00

0.98

30.20

9.50

FDN-C25-239

81.40

84.90

3.50

3.45

9.62

8.65

FDNS

Underground

Including

83.15

84.90

1.75

1.72

17.33

13.44

FDN-C25-239

113.10

118.25

5.15

5.07

6.02

35.97

Including

117.20

118.25

1.05

1.03

20.94

140.90

FDN-C25-240

No Significant Results

FDNS

Underground

FDN-C25-241

56.60

64.95

8.35

5.90

3.49

3.37

FDNS

Underground

Including

63.95

64.95

1.00

0.71

9.72

2.50

FDN-C25-241

69.10

73.70

4.60

3.25

4.23

1.90

Including

72.10

73.70

1.60

1.13

8.39

2.70

FDN-C25-241

105.20

109.05

3.85

2.72

3.99

1.38

FDN-C25-241

155.75

161.55

5.80

3.73

7.23

6.47

Including

160.55

161.55

1.00

0.64

26.00

23.40

FDN-C25-241

177.50

185.00

7.50

4.82

6.01

2.78

Including

177.50

179.55

2.05

1.32

9.45

1.75

FDN-C25-242

90.70

95.40

4.70

3.02

3.29

0.86

FDNS

Underground

Including

91.80

92.90

1.10

0.71

5.14

1.20

FDN-C25-243

41.10

48.10

7.00

6.34

5.20

2.10

FDNS

Underground

Including

47.10

48.10

1.00

0.91

19.65

3.50

FDN-C25-243

101.80

106.10

4.30

4.15

3.74

2.25

FDN-C25-244

16.00

23.20

7.20

5.90

2.68

3.67

FDNS

Underground

Including

16.00

17.00

1.00

0.82

6.14

5.00

Including

22.35

23.20

0.85

0.70

8.53

8.00

FDN-C25-244

38.20

43.20

5.00

4.53

4.08

5.38

Including

40.20

41.20

1.00

0.91

14.45

11.60

FDN-C25-245

17.80

27.10

9.30

7.12

6.32

7.24

FDNS

Underground

Including

17.80

18.90

1.10

0.84

35.00

17.80

FDN-C25-245

102.70

112.55

9.85

9.26

43.77

13.97

Including

102.70

106.50

3.80

3.57

74.70

23.29

Including

111.45

112.55

1.10

1.03

122.50

21.70

FDN-C25-246

33.40

40.40

7.00

6.76

4.06

3.50

FDNS

Underground

FDN-C25-246

91.75

95.60

3.85

3.72

4.53

4.09

FDN-C25-247

17.30

27.25

9.95

6.40

9.33

8.62

FDNS

Underground

Including

19.30

23.80

4.50

2.89

18.65

11.66

FDN-C25-248

98.30

106.05

7.75

7.63

6.35

4.00

FDNS

Underground

Including

103.60

104.90

1.30

1.28

9.82

6.94

FDN-C25-249

Pending Results

FDNS

Underground

FDN-C25-250

Pending Results

FDNS

Underground

FDN-C25-251

Pending Results

FDNS

Underground

FDN-C25-252

Pending Results

FDNS

Underground

FDN-C25-253

Pending Results

FDNS

Underground

FDN-C25-254

Pending Results

FDNS

Underground

FDN-C25-255

Pending Results

FDNS

Underground

FDN-C25-256

142.40

149.90

7.50

6.50

4.89

5.68

FDNS

Underground

Including

144.50

146.40

1.90

1.65

8.06

5.29

FDN-C25-257

Pending Results

FDNS

Underground

FDN-C25-258

Pending Results

FDNS

Underground

FDN-C25-259

Pending Results

FDNS

Underground

FDN-C25-260

Pending Results

FDNS

Underground

FDN-C25-261

Pending Results

FDNS

Underground

FDN-C25-262

Pending Results

FDNS

Underground

FDN-C25-263

Pending Results

FDNS

Underground

FDN-C25-264

Pending Results

FDNS

Underground

FDN-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

Zone

FDNE-2025-279

170.65

173.75

3.10

11.52

5.63

FDN-East

Surface

Including

171.45

172.75

1.30

23.80

10.91

FDNE-2025-279

506.15

508.90

2.75

1.42

1.14

UGE-E-25-207

168.65

171.10

2.45

4.02

4.56

FDN-East

Underground

UGE-E-25-207

173.55

176.60

3.05

4.84

3.30

Including

174.60

175.60

1.00

14.00

7.20

UGE-E-25-207

497.15

507.15

10.00

6.61

10.24

Including

501.60

505.55

3.95

13.16

18.91

UGE-E-25-247

20.80

23.20

2.40

2.04

5.31

FDN-East

Underground

UGE-E-25-247

35.40

37.40

2.00

2.57

7.80

UGE-E-25-247

462.20

464.35

2.15

2.24

7.33

UGE-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

Year

FDN-C25-200

FDNS

778176

9582353

1092

317

18

160.0

Underground

2025

FDN-C25-201

FDNS

778176

9582354

1091

324

16

163.0

Underground

2025

FDN-C25-202

FDNS

778176

9582353

1091

316

10

150.0

Underground

2025

FDN-C25-205

FDNS

778191

9582256

1093

254

19

218.4

Underground

2025

FDN-C25-206

FDNS

778195

9582257

1091

90

-70

60.4

Underground

2025

FDN-C25-208

FDNS

778176

9582353

1091

308

11

142.0

Underground

2025

FDN-C25-209

FDNS

778176

9582353

1091

322

1

162.0

Underground

2025

FDN-C25-210

FDNS

778199

9582239

1093

75

23

114.4

Underground

2025

FDN-C25-211

FDNS

778199

9582239

1092

77

-1

109.0

Underground

2025

FDN-C25-212

FDNS

778199

9582239

1092

99

-18

110.8

Underground

2025

FDN-C25-213

FDNS

778199

9582241

1094

101

36

90.0

Underground

2025

FDN-C25-214

FDNS

778176

9582353

1091

307

2

145.0

Underground

2025

FDN-C25-215

FDNS

778176

9582353

1092

300

21

142.0

Underground

2025

FDN-C25-216

FDNS

778176

9582353

1091

299

11

135.0

Underground

2025

FDN-C25-217

FDNS

778176

9582353

1091

315

2

155.0

Underground

2025

FDN-C25-218

FDNS

778169

9582488

1087

317

-19

126.1

Underground

2025

FDN-C25-219

FDNS

778169

9582487

1088

312

-2

100.0

Underground

2025

FDN-C25-220

FDNS

778169

9582485

1089

283

25

100.0

Underground

2025

FDN-C25-221

FDNS

778175

9582353

1091

290

12

130.0

Underground

2025

FDN-C25-222

FDNS

778175

9582353

1092

290

21

132.0

Underground

2025

FDN-C25-223

FDNS

778175

9582352

1092

280

22

130.0

Underground

2025

FDN-C25-224

FDNS

778175

9582352

1091

299

2

138.0

Underground

2025

FDN-C25-225

FDNS

778175

9582352

1091

280

12

139.0

Underground

2025

FDN-C25-226

FDNS

778222

9582328

1183

93

-33

121.9

Underground

2025

FDN-C25-227

FDNS

778222

9582328

1182

97

-63

243.4

Underground

2025

FDN-C25-228

FDNS

778222

9582327

1183

116

-46

140.0

Underground

2025

FDN-C25-229

FDNS

778161

9582154

1192

292

-5

145.0

Underground

2025

FDN-C25-230

FDNS

778161

9582154

1192

283

-25

176.0

Underground

2025

FDN-C25-231

FDNS

778161

9582155

1193

317

8

100.0

Underground

2025

FDN-C25-232

FDNS

778177

9582351

1183

280

5

149.9

Underground

2025

FDN-C25-233

FDNS

778177

9582351

1183

280

-7

120.4

Underground

2025

FDN-C25-234

FDNS

778177

9582351

1182

280

-17

122.0

Underground

2025

FDN-C25-235

FDNS

778222

9582327

1185

118

24

80.0

Underground

2025

FDN-C25-236

FDNS

778222

9582327

1184

127

-5

115.0

Underground

2025

FDN-C25-237

FDNS

778222

9582327

1186

131

38

137.5

Underground

2025

FDN-C25-238

FDNS

778221

9582326

1183

133

-31

200.4

Underground

2025

FDN-C25-239

FDNS

778221

9582326

1184

141

0

170.3

Underground

2025

FDN-C25-240

FDNS

778161

9582155

1192

314

-26

120.6

Underground

2025

FDN-C25-241

FDNS

778161

9582155

1192

320

-36

235.0

Underground

2025

FDN-C25-242

FDNS

778161

9582154

1192

297

-42

192.2

Underground

2025

FDN-C25-243

FDNS

778178

9582352

1183

291

6

126.9

Underground

2025

FDN-C25-244

FDNS

778178

9582352

1183

291

-5

122.0

Underground

2025

FDN-C25-245

FDNS

778178

9582351

1183

291

-15

127.2

Underground

2025

FDN-C25-246

FDNS

778178

9582352

1184

292

10

134.3

Underground

2025

FDN-C25-247

FDNS

778178

9582351

1182

299

-24

145.0

Underground

2025

FDN-C25-248

FDNS

778178

9582352

1183

305

2

130.0

Underground

2025

FDN-C25-249

FDNS

778177

9582157

1192

317

-15

290.0

Underground

2025

FDN-C25-250

FDNS

778177

9582157

1192

305

-19

227.6

Underground

2025

FDN-C25-251

FDNS

778178

9582157

1192

331

-34

203.4

Underground

2025

FDN-C25-252

FDNS

778220

9582326

1183

149

-51

130.0

Underground

2025

FDN-C25-253

FDNS

778220

9582326

1186

151

42

140.0

Underground

2025

FDN-C25-254

FDNS

778221

9582326

1185

152

22

130.0

Underground

2025

FDN-C25-255

FDNS

778220

9582326

1183

167

-36

190.0

Underground

2025

FDN-C25-256

FDNS

778178

9582352

1182

316

-20

160.0

Underground

2025

FDN-C25-257

FDNS

778178

9582352

1183

320

-5

160.0

Underground

2025

FDN-C25-258

FDNS

778177

9582351

1182

292

-44

80.0

Underground

2025

FDN-C25-259

FDNS

778182

9582366

1183

343

2

134.6

Underground

2025

FDN-C25-260

FDNS

778182

9582366

1183

354

-6

140.0

Underground

2025

FDN-C25-261

FDNS

778181

9582366

1183

321

-3

93.0

Underground

2025

FDN-C25-262

FDNS

778220

9582326

1185

170

23

197.1

Underground

2025

FDN-C25-263

FDNS

778220

9582326

1182

172

-57

189.5

Underground

2025

FDN-C25-264

FDNS

778219

9582326

1183

175

16

125.0

Underground

2025

FDN-C25-265

FDNS

778184

9582366

1182

32

-35

172.4

Underground

2025

FDNE-2025-279

FDNE

778267

9583372

1524

99

-58

893.0

Underground

2025

UGE-E-25-207

FDNE

778129

9583325

1270

119

0

511.7

Underground

2025

UGE-E-25-247

FDNE

778130

9583339

1270

145

-7

620.0

Underground

2025

UGE-E-25-309

FDNE

778188

9583153

1274

117

3

445.1

Underground

2025

SOURCE Lundin Gold Inc.