Lundin Gold Reports 204.26 g/t Au over 3.05 Metres at Bonza Sur; Quebrada Dorada Discovery Extends Gold Epithermal Trend to 8 km

News provided by

Lundin Gold Inc.

Sep 24, 2026, 17:00 ET

VANCOUVER, BC, Sept. 24, 2026 /CNW/ -- Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report results from its ongoing near‑mine exploration drilling programs at the Fruta del Norte ("FDN") gold mine in southeast Ecuador.

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Drilling has returned to Bonza Sur, where recent results support the reinterpretation of the geology focused on higher-grade mineralization within the broader, shallow mineralized system. Further south on the FDN property, the discovery of the Quebrada Dorada epithermal vein system extends the known gold mineralized trend to more than eight kilometres.

Program Highlights

  • Bonza Sur – High-Grade Potential: Renewed drilling, including the highest-grade interval ever recorded at the deposit, is defining higher-grade zones within the broader mineralized system, and supporting an updated geological interpretation.
  • Bonza Sur – Development Optionality: As FDNS underground development advances south, it could provide future access to higher-grade zones in the northern part of Bonza Sur.
  • Quebrada Dorada – New Discovery: The newest epithermal vein system discovered on the FDN property. Mineralized drill intercepts define a large mineral footprint, extend the known gold epithermal mineralized trend to more than eight kilometres and highlight district-scale potential for further exploration and new discoveries.

Jamie Beck, President and CEO, commented: "We are excited to be drilling again at Bonza Sur, where recent results are changing our understanding of the potential significance of the higher-grade mineralization within this large, shallow system. Importantly, with FDNS underground development advancing to the south, we see the potential to ultimately access the northern portion of Bonza Sur from underground, adding another opportunity to our growing near-mine pipeline.

The new Quebrada Dorada discovery further demonstrates the exploration potential of the FDN district. With the largest exploration program ever carried out on the FDN property underway, we continue to see significant opportunities for resource growth across the district."

Exploration Drilling Program Highlights (not true widths)

BONZA SUR

  • Drill hole BLP-2026-553 intersected 204.26 grams per tonne ("g/t") of gold ("Au") over 3.05m from 140.25m, including:
    • 1035.60 g/t Au over 0.60m
  • Drill hole BLP-2026-483-D1 intersected 28.05 g/t Au over 4.20m from 698.30m, including:
    • 50.44 g/t Au over 2.30m
  • Drill hole BLP-2026-483-D2 intersected 13.75 g/t Au over 5.50m from 715.35m, including:
    • 23.21 g/t Au over 3.20m
  • Drill hole BLP-2026-475-D5 intersected 25.24 g/t Au over 2.90m from 962.45m, including:
    • 179.0 g/t Au over 0.40m

QUEBRADA DORADA

  • Drill hole CHT-2026-495 intersected 6.53 g/t Au over 13.05m from 194.70m, including:
    • 22.81 g/t Au over 3.00m
  • Drill hole ALE-2026-529 intersected 20.15 g/t Au over 3.15m from 361.70m, including:
    • 96.70 g/t Au over 0.65m

FRUTA DEL NORTE NEAR MINE EXPLORATION PROGRAM

Over the past several years, Fruta del Norte has emerged as a globally significant mineral district containing multiple identified epithermal gold systems and copper-gold porphyries. The Company's exploration strategy has so far resulted in the discoveries of the Fruta del Norte South (FDNS), Fruta del Norte East (FDN East), and Bonza Sur deposits and has defined a continuous mineralized trend extending for more than four kilometres between FDN (in the north) to Bonza Sur (in the south). The discovery of a new epithermal gold system at Quebrada Dorada further extends the gold mineralized trend to eight kilometres (Figures 1 and 3).

BONZA SUR

Discovered by testing a surface geochemical anomaly south of FDNS, Bonza Sur is a large, shallow epithermal system that has been defined with wide-spaced drilling along two kilometres of strike. Mineralization at Bonza Sur extends to surface and consists of disseminated mineralization with higher-grade zones occurring within the broader mineralized envelope (Figure 2).

The 2026 near-mine exploration drilling program at Bonza Sur has focused on defining the continuity and geometry of these high-grade zones by reducing the spacing between drillholes and refining the geological interpretation of the deposit. In the northern portion of Bonza Sur, drilling has returned multiple high-grade results associated with quartz veining, confirming the continuity of the distinct high-grade zones within the main envelope. Of note, drill hole BLP-2026-553 returned the highest-grade interval ever recorded at the deposit and highlights the exploration potential of the area bordering FDNS. Currently, three rigs are drilling at Bonza Sur.

The higher-grade zones in the northern portion of Bonza Sur are particularly significant given their proximity to advancing underground development at FDNS, which could provide future access to portions of the deposit. The broader disseminated mineralization extends to surface and provides additional development optionality. Results received to date are summarized in Tables 1 and 3.

QUEBRADA DORADA 

Located on the eastern side of the East fault approximately two kilometres to the south of Bonza Sur, Quebrada Dorada represents the discovery of an entirely new epithermal vein system on the FDN property (Figures 1, 3 and 4).

Discovered through systematic scout drilling along the southern extension of the East Fault, this new epithermal system was intercepted near the Chontas porphyry mineralization. The discovery of Quebrada Dorada extends the known gold mineralized trend to more than eight kilometres, with the trend remaining open to the south for further expansion and new discoveries.

The drilling program at Quebrada Dorada has advanced rapidly, with the mineralized footprint currently defined over approximately 2.7 kilometres from north to south (Figure 4). Gold mineralization is hosted by multiple generations of subparallel quartz-chalcedony veins with local hydrothermal breccias and stockworks, native gold, and minor sulphides including galena and sphalerite. The system remains sparsely tested, and drilling is now focused on following up these initial results. Two rigs are currently drilling at Quebrada Dorada. Results received to date are summarized in Tables 2 and 3.

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 Annual Information Form dated March 20, 2026 (AIF), which is available at www.lundingold.com or at www.sedarplus.ca.

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 September 24, 2026 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.  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  fiscal risk; community relations; mining operations; security situation; waste disposal and tailings; environmental compliance; illegal mining; infrastructure; forecasts relating to production and costs; land acquisition and surface rights; indigenous consultation requirements; Mineral Reserve and Mineral Resource estimates; regulatory compliance and government approvals; dependence on a single mine; climate change and extreme weather events; shortages of critical resources; exploration and development; control of Lundin Gold; information systems and cyber security; health and safety; human rights; measures to protect biodiversity, endangered species and critical habitats; global economic conditions; competition for new projects; availability of workforce and labour relations; key talent recruitment and retention; gold price; market price of the Company's shares; social media and reputation; insurance and uninsured risks; dividends; internal controls; conflicts of interest; violation of anti-bribery and corruption laws; claims and legal proceedings; reclamation obligations; expropriation and nationalization; and pandemics, epidemics or infectious disease outbreak.

APPENDIX 1

Table 1: Drillhole assay results from the Bonza Sur drilling program reported for thickness versus grade intervals above 4.2 (m x g/t Au > 4.2). 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

BLP-2026-475

No Significant Results

Bonza Sur

Surface

BLP-2026-475-D1

429.55

431.80

2.25

2.27

1.02

Bonza Sur

Surface

BLP-2026-475-D1

503.00

504.30

1.30

5.31

8.69

BLP-2026-475-D2

505.95

508.05

2.10

3.94

3.79

Bonza Sur

Surface

BLP-2026-475-D2

514.90

520.40

5.50

4.59

4.29

Including

514.90

516.70

1.80

11.00

8.06

BLP-2026-475-D2

750.15

751.05

0.90

6.24

8.33

Including

750.60

751.05

0.45

12.20

10.80

BLP-2026-475-D2

828.80

831.55

2.75

5.56

13.03

Including

828.80

829.45

0.65

20.90

29.30

BLP-2026-475-D3

514.80

516.95

2.15

3.50

5.63

Bonza Sur

Surface

BLP-2026-475-D4

525.35

526.75

1.40

4.08

4.40

Bonza Sur

Surface

BLP-2026-475-D5

593.60

597.05

3.45

4.57

3.28

Bonza Sur

Surface

Including

595.95

596.60

0.65

18.10

9.26

BLP-2026-475-D5

878.85

879.50

0.65

9.54

13.40

BLP-2026-475-D5

903.65

908.10

4.45

11.29

22.38

Including

907.70

908.10

0.40

120.00

45.40

BLP-2026-475-D5

939.30

946.50

7.20

6.03

11.38

Including

939.30

939.70

0.40

40.10

37.50

BLP-2026-475-D5

962.45

965.35

2.90

25.24

25.87

Including

962.45

962.85

0.40

179.00

140.00

BLP-2026-475-D6

784.90

789.70

4.80

3.04

5.27

Bonza Sur

Surface

Including

788.70

789.70

1.00

11.60

3.08

BLP-2026-475-D6

912.70

914.60

1.90

22.71

13.73

Including

914.20

914.60

0.40

89.00

49.30

BLP-2026-475-D7

Pending Results

Bonza Sur

Surface

BLP-2026-483

No Significant Results

Bonza Sur

Surface

BLP-2026-483-D1

663.75

664.55

0.80

5.68

8.01

Bonza Sur

Surface

BLP-2026-483-D1

698.30

702.50

4.20

28.05

491.09

Including

699.70

702.00

2.30

50.44

870.67

BLP-2026-483-D1

715.05

716.70

1.65

5.33

44.59

Including

715.80

716.25

0.45

14.50

103.00

BLP-2026-483-D2

622.25

623.65

1.40

3.52

98.51

Bonza Sur

Surface

Including

622.25

622.75

0.50

7.62

215.00

BLP-2026-483-D2

677.85

679.50

1.65

4.74

362.16

BLP-2026-483-D2

697.65

698.90

1.25

4.17

130.73

BLP-2026-483-D2

715.35

720.85

5.50

13.75

50.68

Including

717.65

720.85

3.20

23.21

76.93

BLP-2026-483-D3

580.00

583.10

3.10

2.13

5.12

Bonza Sur

Surface

Including

581.75

582.55

0.80

7.20

11.05

BLP-2026-483-D4

687.50

689.45

1.95

4.89

118.17

Bonza Sur

Surface

Including

689.00

689.45

0.45

18.35

221.00

BLP-2026-483-D5

730.80

734.85

4.05

5.12

81.32

Bonza Sur

Surface

Including

733.85

734.45

0.60

28.20

425.00

BLP-2026-483-D6

Pending Results

Bonza Sur

Surface

BLP-2026-483-D7

Pending Results

Bonza Sur

Surface

BLP-2026-507

No Significant Results

Bonza Sur

Surface

BLP-2026-507-D1

131.90

134.15

2.25

2.01

2.07

Bonza Sur

Surface

BLP-2026-507-D1

269.00

270.00

1.00

4.78

69.60

BLP-2026-507-D1

545.50

548.65

3.15

2.42

49.15

BLP-2026-507-D1

578.10

580.25

2.15

2.27

6.73

BLP-2026-507-D2

270.35

273.05

2.70

5.57

5.62

Bonza Sur

Surface

BLP-2026-507-D2

469.75

470.20

0.45

6.18

6.05

BLP-2026-513

139.25

140.50

1.25

3.31

121.06

Bonza Sur

Surface

Including

140.00

140.50

0.50

5.03

250.00

BLP-2026-544

254.65

256.35

1.70

2.65

33.74

Bonza Sur

Surface

BLP-2026-549

154.90

155.45

0.55

9.12

21.20

Bonza Sur

Surface

BLP-2026-549

310.40

313.40

3.00

2.10

64.57

Including

310.40

310.85

0.45

7.21

126.00

BLP-2026-549

320.50

324.35

3.85

2.23

48.14

BLP-2026-553

97.95

99.35

1.40

10.87

7.00

Bonza Sur

Surface

BLP-2026-553

140.25

143.30

3.05

204.26

89.79

Including

140.25

140.85

0.60

1035.00

399.00

BLP-2026-559

Pending Results

Bonza Sur

Surface

BLP-2026-562

Pending Results

Bonza Sur

Surface

Table 2: Drillhole assay results from the Quebrada Dorada drilling program reported for thickness versus grade intervals above 2 (m x g/t Au > 2). 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

ALE-2025-377

611.90

612.90

1.00

2.31

0.81

Quebrada Dorada

Surface

ALE-2025-377

639.30

647.70

8.40

1.09

0.62

Including

646.00

646.70

0.70

5.64

0.65

ALE-2025-398

No Significant Results

Quebrada Dorada

Surface

ALE-2026-459

No Significant Results

Quebrada Dorada

Surface

ALE-2026-482

300.20

300.60

0.40

26.50

1.26

Quebrada Dorada

Surface

ALE-2026-482

499.25

500.15

0.90

2.51

0.95

ALE-2026-529

361.70

364.85

3.15

20.15

8.60

Quebrada Dorada

Surface

Including

362.30

362.95

0.65

96.70

26.60

ALE-2026-539

No Significant Results

Quebrada Dorada

Surface

ALE-2026-540

No Significant Results

Quebrada Dorada

Surface

ALE-2026-545

Pending results

Quebrada Dorada

Surface

AMS-2025-297

70.05

70.70

0.65

4.63

1.47

Quebrada Dorada

Surface

AMS-2025-297

472.75

473.70

0.95

10.15

119.31

Including

473.30

473.70

0.40

14.60

208.00

AMS-2025-306

No Significant Results

Quebrada Dorada

Surface

AMS-2025-313

406.40

407.20

0.80

6.32

0.44

Quebrada Dorada

Surface

AMS-2025-320

No Significant Results

Quebrada Dorada

Surface

AMS-2025-333

No Significant Results

Quebrada Dorada

Surface

AMS-2025-346

610.80

613.00

2.20

2.56

0.43

Quebrada Dorada

Surface

Including

610.80

611.90

1.10

3.49

0.58

CHT-2026-222

325.10

326.20

1.10

4.07

12.90

Quebrada Dorada

Surface

CHT-2026-222

394.20

395.10

0.90

2.23

5.23

CHT-2026-222

402.60

404.20

1.60

2.06

1.59

Including

402.60

403.40

0.80

3.02

2.10

CHT-2026-222

411.70

412.60

0.90

7.16

5.68

CHT-2026-449

No Significant Results

Quebrada Dorada

Surface

CHT-2026-495

118.55

121.05

2.50

1.17

18.62

Quebrada Dorada

Surface

Including

118.55

119.15

0.60

2.40

26.90

CHT-2026-495

194.70

207.75

13.05

6.53

0.98

Including

199.00

200.00

1.00

8.41

2.10

Including

203.70

206.70

3.00

22.81

2.10

CHT-2026-508

No Significant Results

Quebrada Dorada

Surface

  Table 3: Quebrada Dorada and Bonza Sur Collar Drill Holes

Hole ID

Prospect

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

Zone

Year

ALE-2025-377

Quebrada Dorada

778166

9577552

1693

88

-63

663.65

Surface

2025

ALE-2025-398

Quebrada Dorada

778480

9577245

1771

270

-55

427.00

Surface

2025

ALE-2026-459

Quebrada Dorada

778080

9577824

1674

75

-50

398.00

Surface

2026

ALE-2026-482

Quebrada Dorada

778681

9577449

1767

105

-46

500.15

Surface

2026

ALE-2026-529

Quebrada Dorada

778796

9577635

1789

90

-60

701.60

Surface

2026

ALE-2026-539

Quebrada Dorada

779089

9576121

1830

75

-50

471.30

Surface

2026

ALE-2026-540

Quebrada Dorada

778796

9577635

1789

90

-50

593.35

Surface

2026

ALE-2026-545

Quebrada Dorada

779067

9575816

1874

46

-57

602.80

Surface

2026

AMS-2025-297

Quebrada Dorada

778793

9577635

1789

269

-44

601.25

Surface

2025

AMS-2025-306

Quebrada Dorada

778794

9577635

1789

268

-62

828.05

Surface

2025

AMS-2025-313

Quebrada Dorada

778864

9576888

1905

198

-55

815.55

Surface

2025

AMS-2025-320

Quebrada Dorada

779151

9578308

1851

323

-40

600.00

Surface

2025

AMS-2025-333

Quebrada Dorada

778678

9577450

1772

263

-67

557.75

Surface

2025

AMS-2025-346

Quebrada Dorada

778483

9577245

1770

88

-66

614.10

Surface

2025

CHT-2026-222

Quebrada Dorada

779067

9575816

1874

45

-45

514.90

Surface

2026

CHT-2026-449

Quebrada Dorada

778517

9575179

1769

90

-60

552.80

Surface

2026

CHT-2026-495

Quebrada Dorada

779088

9576122

1829

52

-45

528.70

Surface

2026

CHT-2026-508

Quebrada Dorada

778810

9576452

1792

70

-80

629.30

Surface

2026

BLP-2026-475

Bonza Sur

779045

9581112

1548

248

-51

220.05

Surface

2026

BLP-2026-475-D1

Bonza Sur

779045

9581112

1548

248

-51

900.15

Surface

2026

BLP-2026-475-D2

Bonza Sur

779045

9581112

1548

248

-51

989.25

Surface

2026

BLP-2026-475-D3

Bonza Sur

779045

9581112

1548

248

-51

1014.30

Surface

2026

BLP-2026-475-D4

Bonza Sur

779045

9581112

1548

248

-51

910.45

Surface

2026

BLP-2026-475-D5

Bonza Sur

779045

9581112

1548

248

-51

1000.65

Surface

2026

BLP-2026-475-D6

Bonza Sur

779045

9581112

1548

248

-51

1040.05

Surface

2026

BLP-2026-475-D7

Bonza Sur

779045

9581112

1548

248

-51

948.00

Surface

2026

BLP-2026-483

Bonza Sur

779001

9581332

1486

256

-50

251.20

Surface

2026

BLP-2026-483-D1

Bonza Sur

779001

9581332

1486

256

-50

330.30

Surface

2026

BLP-2026-483-D2

Bonza Sur

779001

9581332

1486

256

-50

737.65

Surface

2026

BLP-2026-483-D3

Bonza Sur

779001

9581332

1486

256

-50

793.40

Surface

2026

BLP-2026-483-D4

Bonza Sur

779001

9581332

1486

256

-50

803.70

Surface

2026

BLP-2026-483-D5

Bonza Sur

779001

9581332

1486

256

-50

872.40

Surface

2026

BLP-2026-483-D6

Bonza Sur

779001

9581332

1486

256

-50

824.90

Surface

2026

BLP-2026-483-D7

Bonza Sur

779001

9581332

1486

256

-50

774.60

Surface

2026

BLP-2026-507

Bonza Sur

779140

9579851

1726

270

-47

100.50

Surface

2026

BLP-2026-507-D1

Bonza Sur

779140

9579851

1726

270

-47

217.55

Surface

2026

BLP-2026-507-D2

Bonza Sur

779140

9579851

1726

270

-48

779.45

Surface

2026

BLP-2026-513

Bonza Sur

778559

9581473

1439

268

-57

261.10

Surface

2026

BLP-2026-544

Bonza Sur

778559

9581472

1439

241

-55

320.45

Surface

2026

BLP-2026-549

Bonza Sur

778651

9581180

1521

246

-57

414.40

Surface

2026

BLP-2026-553

Bonza Sur

778503

9581451

1435

305

-58

216.00

Surface

2026

BLP-2026-559

Bonza Sur

778616

9580904

1509

245

-48

249.95

Surface

2026

BLP-2026-562

Bonza Sur

778616

9580904

1508

245

-57

293.55

Surface

2026

SOURCE Lundin Gold Inc.

For more information, please contact: Brendan Creaney, Vice President, Corporate Development & Investor Relations, Tel: +1-604-376-4595, [email protected]

Organization Profile

Lundin Gold Inc.