VANCOUVER, BC, May 5, 2026 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to report additional strong results from its ongoing conversion and near‑mine exploration drilling programs at the Fruta del Norte ("FDN") gold mine in southeast Ecuador. PDF Version
Figure 1: Map showing newly released (in yellow) and historical selected drill results (in gray) highlighting the highest grade-thickness intercepts across the FDN property. Drill hole intercepts are represented in drill core lengths. (CNW Group/Lundin Gold Inc.)
Figure 3: Long section showing FDN and FDNS deposits with selected FDNS conversion and exploration drilling results (CNW Group/Lundin Gold Inc.)
Figure 4: Map showing FDN, FDNS, and FDN East deposits with selected FDN East exploration drilling results (CNW Group/Lundin Gold Inc.)
Figure 5: Long Section showing FDN, FDNS, FDN East deposits with selected exploration drilling results along the FDN upper extension (CNW Group/Lundin Gold Inc.)
Lundin Gold Reports 667.78 g/t over 7.50 Metres and 523.01 g/t Au over 8.25 Metres at FDNS (CNW Group/Lundin Gold Inc.)
The drilling programs delivered positive results across FDN, FDNS, and FDN East within the Company's mining property. Notably, recent conversion drilling at FDNS delivered two of the highest grade‑thickness gold intercepts ever drilled at FDN, underscoring the growing importance of FDNS as a major source of high‑grade mineralization and supporting continued Mineral Resource and Mineral Reserve growth.
Highlights
Conversion Drilling
FDNS: Recent drilling returned the highest‑grade intercepts ever recorded at FDNS, including two intervals that rank as the second and fourth highest grade-thickness gold intercepts drilled across the entire FDN mining property (Figure 1), reinforcing FDNS as a primary driver of recent and ongoing Mineral Resource and Mineral Reserve growth.
Exploration Drilling
FDNS: Successfully confirmed mineralization continuity along the downdip extension of the deposit, outside the current Mineral Resource envelope, and highlighted areas with meaningful potential for further expansion.
FDN East: Drilling confirmed northward continuity of the vein system beyond the inaugural Mineral Resource, returning the highest‑grade interval ever recorded at FDN East, and demonstrated continuity of newly discovered eastern veins, highlighting an expanding footprint and additional exploration upside.
FDN: Drilling intercepted the upper continuity of the main FDN mineral envelope close to existing underground infrastructure, identifying additional near‑mine expansion opportunities.
Jamie Beck, President and CEO, commented, "Conversion drilling at FDNS has consistently delivered some of the best results at FDN since its discovery, and these results are no exception, including two of the highest grade-thickness gold intercepts ever drilled at Fruta del Norte.Exceptional systems tend to surprise to the upside, and it is clear there remains significant potential for additional expansion.
At FDN East, the highest‑grade interval ever reported along the extension of the mineral envelope confirms meaningful exploration upside, while at FDN, positive results close to existing underground development highlight opportunities for further growth. With 17 rigs currently operating at site between the epithermal gold deposits and copper gold porphyry targets, we remain confident in our ability to continue creating value through disciplined exploration across this remarkable mining district."
Conversion Drilling Program Highlights (not true widths)
FDNS
Drill hole FDN-C25-374 intersected 667.78 grams per tonne ("g/t") of gold ("Au") over 7.50m from 19.15m, including:
4,710 g/t Au over 0.60m
Drill hole FDN-C26-380 intersected 523.01 g/t Au over 8.25m from 22.55m, including:
2,389.51 g/t Au over 1.80m
Drill hole FDN-C26-389 intersected 17.47 g/t Au over 8.85m from 16.70m, including:
110.06 g/t Au over 1.20m
Drill hole FDN-C26-379 intersected 16.13 g/t Au over 7.00m from 54.45m, including:
31.42 g/t Au over 3.25m
Exploration Drilling Program Highlights (not true widths)
FDNS
Drill hole UGE-S-26-472 intersected 22.97 g/t Au over 5.00m from 46.90m, including:
56.15 g/t Au over 1.35m
FDN East
Drill hole UGE–E-26-429 intersected 169.93 g/t Au over 4.20 m from 427.50m including:
712 g/t Au over 1.00m
Drill hole UGE-E-25-425 intersected 20.34 g/t Au over 5.90m from 299.00m, including:
61.21 g/t Au over 1.80m
FDN
Drill hole UGE-26-479 intersected 10.55 g/t Au over 23.55 m from 58.15m including:
24.90 g/t Au over 2.30m
Drill hole UGE-26-461 intersected 8.32 g/t Au over 7.85m from 74.85m, including:
15.71 g/t Au over 3.40m
DRILLING PROGRAMS
Lundin Gold's near‑mine exploration strategy is focused on extending mine life through the discovery and delineation of new mineralized zones near existing infrastructure. Since the start of commercial production, these efforts have contributed to significant Mineral Reserve growth.
2026 is set to be a landmark year for the Company, with the largest exploration program in its history, totaling approximately 133,000 metres of planned drilling. Conversion and near‑mine exploration activities will account for approximately 125,000 metres, combining surface and underground drilling aimed at Mineral Resource conversion, the discovery and delineation of new mineralized zones, and the potential identification of new gold and copper‑gold resources across the Fruta del Norte mining property.
FDNS
The 2026 underground conversion drilling program continues to advance across several sectors of FDNS, where the Company declared an inaugural Mineral Reserve of 0.54 Moz (2.50 Mt at 6.66 g/t Au) approximately two years after the deposit's discovery. This reserve declaration followed a succession of consistently strong conversion drilling results that have exceeded expectations.
Recent drilling has focused on the central and northern sectors of the deposit and continues to intercept mineralization consistently, further validating the geological model (Figures 2 and 3). The program returned the highest‑grade intercepts ever recorded at FDNS, including FDN‑C25‑374 (667.78 g/t Au over 7.50 m; 60.19 g/t Au over 13.95 m) and FDN‑C26‑380 (523.01 g/t Au over 8.25 m; 32.94 g/t Au over 4.55 m) and highlighted additional high‑grade zones within the established mineral envelope.
Underground exploration drilling continues to extend the FDNS mineral envelope beyond the current Mineral Resource. Hole UGE‑S‑26‑472 (22.97 g/t Au over 5.00 m) intercepted multiple mineralized veins at depth, indicating further expansion potential in the northern sector of the deposit (Figures 2 and 3). Results received to date are summarized in Tables 1 and 4.
FDN EAST
FDN East is a buried epithermal system composed of multiple subparallel north‑south‑trending veins located approximately 100 metres east of FDN's existing underground infrastructure. Drilling in 2025 defined a deposit footprint of 500‑metre strike length and supported an inaugural Inferred Mineral Resource of 0.42 Moz Au (2.17 Mt at 6.01 g/t Au).
The mineral envelope remains open, and underground exploration drilling is ongoing. Along the northern extension, drilling returned the highest‑grade intercept ever recorded at FDN East, confirming mineral continuity and highlighting strong exploration potential along strike (Figure 4). In addition, drilling confirmed the continuity of newly identified veins beyond the initial Mineral Resource and the deposit footprint strike length is now 500 metres West to East and 800 metres North to South and open for further discovery to the North, East, and South. Results received to date are presented in Tables 2 and 4.
FDN
At FDN, underground exploration drilling intercepted the upper extension of the deposit along the contact with the Suarez conglomerate sequence, close to existing underground infrastructure. Highlights include UGE‑26‑479 (10.55 g/t Au over 23.55 m) and UGE‑26‑461 (8.32 g/t Au over 7.85 m), underscoring significant exploration potential in areas readily accessible from current mine development (Figure 5). Results received to date are summarized in Tables 3 and 4.
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 historic holes and further information on the assay, QA-QC, and data verification procedures, please see Lundin Gold's Annual Information Form dated March 20, 2026 ("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 May 5 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 FDNS drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au > 8.37). 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-C25-354
29.35
30.60
1.25
0.88
7.17
8.80
FDNS
Underground
FDN-C25-354
32.60
34.75
2.15
1.52
5.68
12.31
Including
32.60
33.25
0.65
0.46
10.70
20.90
FDN-C25-355
20.85
24.40
3.55
2.51
6.03
17.42
FDNS
Underground
Including
20.85
21.70
0.85
0.60
16.15
25.70
Including
24.00
24.40
0.40
0.28
15.80
68.30
FDN-C25-355
39.85
41.40
1.55
1.10
5.41
11.18
Including
40.60
41.00
0.40
0.28
17.75
20.40
FDN-C25-355
71.40
73.05
1.65
1.17
7.43
17.19
FDN-C25-355
82.40
84.60
2.20
1.56
3.98
33.84
Including
83.80
84.60
0.80
0.57
9.15
72.50
FDN-C25-355
99.20
100.65
1.45
1.03
6.60
16.94
FDN-C25-357
64.35
66.15
1.80
1.38
5.23
15.58
FDNS
Underground
Including
65.00
65.65
0.65
1.38
12.50
29.30
FDN-C25-357
131.20
132.00
0.80
0.50
10.97
185.00
FDN-C25-357
149.90
153.00
3.10
2.54
11.84
120.01
Including
152.55
153.00
0.45
0.37
55.70
145.00
FDN-C25-366
48.10
51.05
2.95
2.55
7.66
15.94
FDNS
Underground
Including
48.10
48.80
0.70
0.61
14.65
20.30
Including
50.55
51.05
0.50
0.43
19.60
27.60
FDN-C25-366
65.60
67.10
1.50
1.23
12.46
14.17
Including
66.45
67.10
0.65
0.53
27.70
15.30
FDN-C25-374
1.50
4.20
2.70
1.74
5.60
7.95
FDNS
Underground
Including
3.40
4.20
0.80
0.51
16.15
16.00
FDN-C25-374
19.15
26.65
7.50
4.82
667.78
268.88
Including
20.50
21.10
0.60
0.39
4710.00
1500.00
Including
25.60
26.10
0.50
0.32
1880.00
695.00
FDN-C25-374
36.05
50.00
13.95
8.97
60.19
81.58
Including
41.90
49.55
7.65
4.92
104.32
128.73
FDN-C25-374
56.55
59.20
2.65
1.70
16.61
25.89
Including
58.10
58.50
0.40
0.26
103.00
91.40
FDN-C25-374
74.70
78.10
3.40
2.40
44.98
47.47
FDN-C25-374
90.50
92.25
1.75
1.24
8.41
11.31
Including
90.90
91.30
0.40
0.28
33.50
27.10
FDN-C25-374
174.80
176.90
2.10
1.35
9.60
42.82
Including
174.80
175.80
1.00
0.64
18.65
54.40
FDN-C25-374
213.40
215.15
1.75
1.24
11.25
363.23
FDN-C25-374
244.10
246.00
1.90
1.34
4.51
76.52
Including
244.80
245.25
0.45
0.32
10.95
264.00
FDN-C25-375
18.40
20.25
1.85
1.84
6.41
122.03
FDNS
Underground
FDN-C25-376
15.25
17.30
2.05
1.78
8.29
43.63
FDNS
Underground
Including
15.25
15.65
0.40
0.35
9.23
53.80
Including
16.75
17.30
0.55
0.48
21.30
51.10
FDN-C25-376
35.10
39.30
4.20
3.64
13.74
13.56
Including
38.90
39.30
0.40
0.35
123.50
60.30
FDN-C25-376
98.40
99.90
1.50
1.30
32.79
77.79
Including
98.40
98.90
0.50
0.43
91.60
181.00
FDN-C25-376
121.65
123.30
1.65
1.43
5.54
6.66
Including
122.05
122.60
0.55
0.48
12.65
8.10
FDN-C25-377
8.70
13.90
5.20
3.68
85.45
80.98
FDNS
Underground
Including
12.40
13.90
1.50
1.06
204.82
211.03
FDN-C25-377
28.30
30.30
2.00
1.41
8.53
12.07
Including
28.30
28.90
0.60
0.42
19.75
18.80
FDN-C25-377
44.10
49.40
5.30
3.75
34.41
25.30
Including
44.10
46.30
2.20
1.56
80.55
45.05
FDN-C25-377
61.30
71.40
10.10
7.14
84.48
56.86
Including
64.10
71.40
3.50
2.47
217.95
45.21
FDN-C25-377
79.15
84.90
5.75
4.07
13.32
33.79
Including
80.55
82.50
1.95
1.38
31.77
38.08
FDN-C25-377
105.05
106.70
1.65
1.17
15.68
30.48
Including
105.45
106.30
0.85
0.60
28.69
31.92
FDN-C26-378
52.90
54.80
1.90
1.84
9.06
9.72
FDNS
Underground
Including
54.20
54.80
0.60
0.58
22.40
14.40
FDN-C26-378
65.15
70.45
5.30
5.12
9.63
16.25
Including
65.15
66.60
1.45
1.40
27.54
16.94
FDN-C26-378
105.80
110.00
4.20
4.06
5.13
42.88
Including
107.20
108.80
1.60
1.55
10.27
79.08
FDN-C26-379
16.70
20.20
3.50
2.47
7.38
9.30
FDNS
Underground
Including
16.70
17.80
1.10
0.78
14.17
10.62
FDN-C26-379
21.40
23.75
2.35
1.66
9.38
28.32
Including
23.25
23.75
0.50
0.35
37.90
75.60
FDN-C26-379
54.45
61.45
7.00
3.50
16.13
11.50
Including
58.20
61.45
3.25
1.63
31.42
16.72
FDN-C26-379
96.10
99.20
3.10
1.78
3.17
5.60
FDN-C26-379
107.00
110.00
3.00
1.72
4.46
4.61
Including
108.90
109.35
0.45
0.26
11.20
6.40
FDN-C26-380
22.55
30.80
8.25
6.32
523.01
134.92
FDNS
Underground
Including
23.80
25.60
1.80
1.38
2389.51
592.06
FDN-C26-380
39.45
44.00
4.55
3.49
32.94
27.59
Including
41.10
43.00
1.90
1.46
75.79
53.36
FDN-C26-380
62.20
64.40
2.20
1.69
6.39
10.01
Including
62.20
62.80
0.60
0.46
15.10
12.70
FDN-C26-380
92.00
94.80
2.80
2.14
9.02
10.32
Including
93.10
94.15
1.05
0.80
23.20
17.60
FDN-C26-381
9.20
10.60
1.40
1.35
6.23
6.83
FDNS
Underground
Including
9.20
9.60
0.40
0.39
20.30
13.40
FDN-C26-381
30.00
33.30
3.30
3.19
4.63
20.63
Including
32.00
32.40
0.40
0.39
13.30
13.90
FDN-C26-381
41.20
42.45
1.25
1.21
7.26
8.32
FDN-C26-381
49.05
54.25
5.20
5.02
23.19
18.82
Including
53.00
54.25
1.25
1.21
86.14
30.78
FDN-C26-382
33.40
36.70
3.30
2.53
17.23
22.25
FDNS
Underground
Including
33.40
35.30
1.90
1.46
28.03
32.69
FDN-C26-382
40.75
48.20
7.45
5.71
11.32
19.88
Including
45.90
48.20
2.30
1.76
26.12
27.70
FDN-C26-383
No Significant Results
FDNS
Underground
FDN-C26-384
29.55
37.20
7.65
6.27
5.06
8.70
FDNS
Underground
Including
34.90
37.20
2.30
1.88
12.28
11.51
FDN-C26-384
86.45
101.75
15.30
12.53
44.09
16.98
Including
88.85
90.45
1.60
1.31
18.85
6.42
Including
93.00
98.60
5.60
4.59
111.33
36.72
FDN-C26-385
5.70
8.45
2.75
2.71
4.71
10.93
FDNS
Underground
FDN-C26-385
16.60
18.00
1.40
1.38
8.30
12.79
FDN-C26-386
1.30
3.40
2.10
1.97
5.19
7.47
FDNS
Underground
FDN-C26-386
58.50
61.70
3.20
3.01
13.53
13.24
FDN-C26-387
0.40
6.30
5.90
5.11
3.95
4.77
FDNS
Underground
Including
0.40
0.80
0.40
0.35
18.05
16.30
Including
5.90
6.30
0.40
0.35
20.80
3.70
FDN-C26-387
21.80
26.20
4.40
3.81
8.20
9.17
Including
23.25
23.65
0.40
0.35
83.60
48.40
FDN-C26-387
33.65
38.90
5.25
4.55
15.06
15.27
Including
35.75
36.15
0.40
0.35
182.50
75.10
FDN-C26-387
74.80
76.90
2.10
1.82
4.70
2.70
Including
76.30
76.90
0.60
0.52
11.30
3.70
FDN-C26-388
13.00
17.75
4.75
3.05
4.51
6.59
FDNS
Underground
Including
14.30
15.75
1.45
0.93
11.96
10.77
FDN-C26-388
41.50
48.90
7.40
4.76
4.16
8.52
Including
47.40
47.80
0.40
0.26
38.10
20.00
FDN-C26-389
16.70
25.55
8.85
8.72
17.47
22.13
FDNS
Underground
Including
18.20
19.40
1.20
1.18
110.06
100.70
FDN-C26-390
9.30
12.70
3.40
2.79
5.20
10.04
FDNS
Underground
Including
10.10
10.55
0.45
0.37
36.00
30.20
FDN-C26-391
23.80
25.95
2.15
1.95
4.71
11.30
FDNS
Underground
FDN-C26-391
66.20
70.60
4.40
3.81
5.08
4.22
Including
66.20
68.00
1.80
1.56
10.04
7.65
FDN-C26-391
77.95
80.00
2.05
1.86
16.43
18.53
Including
79.00
80.00
1.00
0.91
31.30
18.60
FDN-C26-392
0.00
4.40
4.40
-
4.74
25.94
FDNS
Underground
Including
0.00
1.05
1.05
-
13.52
48.59
FDN-C26-393
Pending Results
FDNS
Underground
FDN-C26-394
Pending Results
FDNS
Underground
FDN-C26-395
No Significant Results
FDNS
Underground
FDN-C26-396
Pending Results
FDNS
Underground
FDN-C26-397
19.25
21.60
2.35
2.31
4.49
16.77
FDNS
Underground
Including
19.25
19.80
0.55
0.54
15.35
45.40
FDN-C26-397
28.95
30.35
1.40
1.38
6.59
11.41
Including
28.95
29.35
0.40
0.39
19.95
18.70
FDN-C26-398
3.90
7.30
3.40
3.19
6.60
4.15
FDNS
Underground
Including
5.70
6.50
0.80
0.75
26.90
6.30
FDN-C26-399
Pending Results
FDNS
Underground
FDN-C26-401
12.80
15.25
2.45
1.88
13.45
5.60
FDNS
Underground
Including
12.80
13.70
0.90
0.69
31.85
9.40
FDN-C26-401
114.85
119.10
4.25
1.45
9.95
2.70
Including
115.25
117.10
1.85
0.63
18.97
4.49
FDN-C26-402
Pending Results
FDNS
Underground
FDN-C26-403
Pending Results
FDNS
Underground
FDN-C26-404
Pending Results
FDNS
Underground
FDN-C26-405
Pending Results
FDNS
Underground
FDN-C26-406
Pending Results
FDNS
Underground
FDN-C26-407
Pending Results
FDNS
Underground
FDN-C26-408
Pending Results
FDNS
Underground
FDN-C26-409
Pending Results
FDNS
Underground
FDN-C26-410
Pending Results
FDNS
Underground
FDN-C26-411
Pending Results
FDNS
Underground
FDN-C26-412
Pending Results
FDNS
Underground
FDN-C26-413
Pending Results
FDNS
Underground
FDN-C26-414
Pending Results
FDNS
Underground
FDN-C26-415
Pending Results
FDNS
Underground
FDN-C26-418
Pending Results
FDNS
Underground
FDN-C26-419
Pending Results
FDNS
Underground
UGE-S-26-472
9.15
11.60
2.45
1.73
3.83
9.82
FDNS
Underground
UGE-S-26-472
46.90
51.90
5.00
3.21
22.97
18.39
Including
50.55
51.90
1.35
0.87
56.15
37.23
UGE-S-26-472
139.90
141.15
1.25
0.80
7.95
156.83
Including
140.75
141.15
0.40
0.26
21.50
373.00
UGE-S-26-472
173.65
175.40
1.75
1.00
13.77
135.84
Including
173.65
174.45
0.80
0.46
29.30
290.15
UGE-S-26-477
Pending Results
FDNS
Underground
UGE-S-26-478
Pending Results
FDNS
Underground
Table 2:Drillhole assay results from FDN East drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au >8.37). 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
UGE-E-25-422
36.80
39.60
2.80
-
3.92
28.10
FDN East
Underground
Including
37.85
38.55
0.70
-
14.90
104.00
UGE-E-25-422
136.70
139.60
2.90
-
3.24
3.67
Including
137.80
138.60
0.80
-
9.96
9.70
UGE-E-25-422
551.40
555.05
3.65
-
4.68
3.24
Including
551.40
552.05
0.65
-
25.30
13.60
UGE-E-25-425
190.40
191.40
1.00
0.98
13.40
249.00
FDN East
Underground
UGE-E-25-425
239.05
240.80
1.75
1.71
9.06
7.21
Including
240.00
240.80
0.80
0.78
17.53
11.60
UGE-E-25-425
266.85
270.65
3.80
3.72
13.25
5.78
Including
266.85
268.10
1.25
1.22
39.60
14.02
UGE-E-25-425
278.90
284.40
5.50
5.38
12.22
11.77
Including
282.50
284.40
1.90
1.86
30.23
19.29
UGE-E-25-425
286.60
289.00
2.40
2.35
10.80
8.38
Including
288.00
289.00
1.00
0.98
20.68
10.76
UGE-E-25-425
299.00
304.90
5.90
5.77
20.34
15.31
Including
299.00
300.80
1.80
1.76
61.21
37.56
UGE-E-25-425
333.95
336.75
2.80
2.74
4.20
3.84
Including
335.90
336.75
0.85
0.83
7.61
4.64
UGE-E-25-427
No Significant Results
FDN East
Underground
UGE-E-26-429
90.30
97.60
7.30
-
6.69
6.37
FDN East
Underground
Including
94.50
96.90
2.40
-
16.13
9.17
UGE-E-26-429
375.35
378.30
2.95
-
3.00
7.15
Including
375.35
376.10
0.75
-
8.08
18.70
UGE-E-26-429
427.50
431.70
4.20
-
169.93
102.36
Including
430.70
431.70
1.00
-
712.00
429.00
UGE-E-26-435
No Significant Results
FDN East
Underground
UGE-E-26-436
No Significant Results
FDN East
Underground
UGE-E-26-437
No Significant Results
FDN East
Underground
UGE-E-26-448
No Significant Results
FDN East
Underground
UGE-E-26-456
96.70
101.70
5.00
-
5.42
8.44
FDN East
Underground
UGE-E-26-458
318.30
319.30
1.00
-
9.52
10.30
FDN East
Underground
UGE-E-26-465
102.70
107.60
4.90
-
5.27
7.20
FDN East
Underground
Including
104.70
106.60
1.90
-
10.73
7.99
UGE-E-26-470
Pending Results
FDN East
Underground
Table 3:Drillhole assay results from FDN drilling program reported for thickness versus grade intervals above 8.37 (m x g/t Au >8.37). 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
UGE-26-441
71.50
75.50
4.00
-
10.09
10.40
FDN-Exploration
Underground
Including
74.00
75.50
1.50
-
21.47
13.25
UGE-26-441
84.80
87.85
3.05
-
4.25
6.44
Including
87.40
87.85
0.45
-
23.70
21.50
UGE-26-442
No Significant Results
FDN-Exploration
Underground
UGE-26-443
76.00
78.60
2.60
2.25
9.59
36.50
FDN-Exploration
Underground
Including
76.65
77.40
0.75
0.65
22.90
92.00
UGE-26-443
96.40
100.00
3.60
3.12
13.86
10.57
Including
96.40
96.80
0.40
0.35
120.00
79.40
UGE-26-444
21.50
24.10
2.60
1.84
4.23
8.85
FDN-Exploration
Underground
Including
21.50
21.95
0.45
0.32
16.95
21.50
UGE-26-444
49.20
51.85
2.65
1.87
22.56
50.24
Including
50.40
50.80
0.40
0.28
101.50
105.00
UGE-26-446
No Significant Results
FDN-Exploration
Underground
UGE-26-447
No Significant Results
FDN-Exploration
Underground
UGE-26-451
15.30
17.80
2.50
-
5.71
7.87
FDN-Exploration
Underground
Including
16.60
17.80
1.20
-
11.17
11.35
UGE-26-451
37.45
40.60
3.15
-
3.87
14.79
UGE-26-451
62.85
64.45
1.60
1.03
8.72
21.83
Including
64.05
64.45
0.40
0.26
28.90
44.60
UGE-26-451
86.55
94.00
7.45
-
4.70
7.22
Including
86.55
88.90
2.35
-
9.76
9.56
UGE-26-452
58.20
59.50
1.30
1.28
12.70
13.76
FDN-Exploration
Underground
Including
58.20
58.60
0.40
0.39
38.90
36.50
UGE-26-452
62.30
63.60
1.30
1.28
9.07
7.72
Including
62.70
63.10
0.40
0.39
27.90
19.50
UGE-26-453
33.55
37.70
4.15
2.67
4.50
13.87
FDN-Exploration
Underground
Including
33.95
34.75
0.80
0.51
9.48
22.55
UGE-26-453
39.00
44.40
5.40
3.47
4.68
2.10
UGE-26-454
0.45
11.10
10.65
-
3.28
6.30
FDN-Exploration
Underground
Including
0.45
1.35
0.90
-
10.69
21.07
Including
8.80
10.70
1.90
-
10.27
10.27
UGE-26-454
25.45
33.70
8.25
5.83
9.54
19.86
Including
25.45
27.50
2.05
1.45
19.83
26.25
Including
32.45
33.70
1.25
0.88
26.34
49.50
UGE-26-455
42.00
52.60
10.60
-
5.88
7.43
FDN-Exploration
Underground
Including
42.80
45.10
2.30
-
22.12
16.87
UGE-26-455
60.50
69.70
9.20
-
4.91
12.71
Including
60.50
62.50
2.00
-
14.72
10.25
UGE-26-457
71.85
75.00
3.15
3.10
39.16
17.55
FDN-Exploration
Underground
Including
74.15
74.55
0.40
0.39
305.00
127.00
UGE-26-461
66.35
68.70
2.35
-
4.47
16.88
FDN-Exploration
Underground
UGE-26-461
70.00
73.75
3.75
-
4.17
13.69
UGE-26-461
74.85
82.70
7.85
-
8.32
23.15
Including
78.90
82.30
3.40
-
15.71
33.62
UGE-26-461
85.05
88.75
3.70
-
3.47
23.13
UGE-26-462
Pending Results
FDN-Exploration
Underground
UGE-26-463
96.80
101.00
4.20
-
8.33
7.06
FDN-Exploration
Underground
Including
96.80
97.25
0.45
-
41.80
10.10
Including
98.55
99.00
0.45
-
24.30
15.60
UGE-26-463
135.60
140.70
5.10
-
6.05
10.95
Including
135.60
136.60
1.00
-
24.00
17.90
UGE-26-464
42.45
48.55
6.10
-
6.16
11.33
FDN-Exploration
Underground
Including
42.45
43.45
1.00
-
12.55
19.10
Including
45.45
47.45
2.00
-
8.45
13.15
UGE-26-471
Pending Results
FDN-Exploration
Underground
UGE-26-474
Pending Results
FDN-Exploration
Underground
UGE-26-479
58.15
81.70
23.55
-
10.55
27.07
FDN-Exploration
Underground
Including
78.60
80.90
2.30
-
24.90
12.32
UGE-26-479
131.50
135.10
3.60
-
6.37
3.11
Including
133.30
135.10
1.80
-
10.84
2.86
Table 4: FDNS, FDN and FDN East Collar Drill Holes
Hole ID
Prospect
Easting
Northing
Elevation
Azimuth
Dip
EOH (m)
Zone
Year
FDN-C25-354
FDNS
778219
9582536
1086
79
-47
90.00
Underground
2025
FDN-C25-355
FDNS
778217
9582533
1085
159
-48
140.00
Underground
2025
FDN-C25-357
FDNS
778218
9582534
1085
105
-54
166.10
Underground
2025
FDN-C25-366
FDNS
778211
9582662
1083
238
-32
100.00
Underground
2025
FDN-C25-374
FDNS
778192
9582548
1085
130
-55
247.50
Underground
2025
FDN-C25-375
FDNS
778219
9582534
1087
115
-10
70.00
Underground
2025
FDN-C25-376
FDNS
778215
9582432
1088
340
-32
131.80
Underground
2025
FDN-C25-377
FDNS
778192
9582547
1085
154
-47
121.40
Underground
2025
FDN-C26-378
FDNS
778192
9582546
1086
160
-18
110.00
Underground
2026
FDN-C26-379
FDNS
778177
9582487
1086
303
-42
110.00
Underground
2026
FDN-C26-380
FDNS
778177
9582488
1086
320
-40
115.00
Underground
2026
FDN-C26-381
FDNS
778215
9582432
1089
325
-15
70.00
Underground
2026
FDN-C26-382
FDNS
778215
9582432
1090
325
37
70.00
Underground
2026
FDN-C26-383
FDNS
778222
9582429
1088
69
-35
130.30
Underground
2026
FDN-C26-384
FDNS
778169
9582486
1087
289
-36
110.00
Underground
2026
FDN-C26-385
FDNS
778169
9582486
1088
280
-12
70.00
Underground
2026
FDN-C26-386
FDNS
778169
9582485
1087
257
-19
75.00
Underground
2026
FDN-C26-387
FDNS
778169
9582487
1087
296
-28
100.00
Underground
2026
FDN-C26-388
FDNS
778169
9582487
1087
302
-49
128.20
Underground
2026
FDN-C26-389
FDNS
778174
9582681
1084
306
10
70.00
Underground
2026
FDN-C26-390
FDNS
778174
9582681
1083
302
-36
90.00
Underground
2026
FDN-C26-391
FDNS
778173
9582680
1083
272
-37
80.00
Underground
2026
FDN-C26-392
FDNS
778218
9582536
1085
54
-49
100.00
Underground
2026
FDN-C26-393
FDNS
778218
9582536
1085
45
-56
125.00
Underground
2026
FDN-C26-394
FDNS
778157
9582333
1090
156
-20
150.00
Underground
2026
FDN-C26-395
FDNS
778147
9582594
1253
168
10
175.00
Underground
2026
FDN-C26-396
FDNS
778147
9582594
1251
157
-24
110.00
Underground
2026
FDN-C26-397
FDNS
778173
9582679
1084
240
5
70.00
Underground
2026
FDN-C26-398
FDNS
778174
9582680
1084
266
10
90.00
Underground
2026
FDN-C26-399
FDNS
778157
9582333
1090
152
-34
126.60
Underground
2026
FDN-C26-401
FDNS
778168
9582485
1087
275
-41
130.00
Underground
2026
FDN-C26-402
FDNS
778169
9582486
1087
292
-44
80.20
Underground
2026
FDN-C26-403
FDNS
778148
9582595
1251
152
-67
110.00
Underground
2026
FDN-C26-404
FDNS
778148
9582594
1253
148
18
160.00
Underground
2026
FDN-C26-405
FDNS
778218
9582536
1085
45
-64
145.00
Underground
2026
FDN-C26-406
FDNS
778219
9582536
1086
68
-12
90.20
Underground
2026
FDN-C26-407
FDNS
778174
9582486
1087
298
-16
75.00
Underground
2026
FDN-C26-408
FDNS
778169
9582486
1087
281
-52
120.00
Underground
2026
FDN-C26-409
FDNS
778169
9582485
1087
268
-36
110.00
Underground
2026
FDN-C26-410
FDNS
778169
9582485
1087
259
-40
139.20
Underground
2026
FDN-C26-411
FDNS
778148
9582594
1252
139
-10
176.30
Underground
2026
FDN-C26-412
FDNS
778149
9582595
1251
128
-51
88.10
Underground
2026
FDN-C26-413
FDNS
778228
9582662
1083
153
-54
136.30
Underground
2026
FDN-C26-414
FDNS
778218
9582536
1085
75
-68
135.00
Underground
2026
FDN-C26-415
FDNS
778219
9582535
1085
91
-53
90.00
Underground
2026
FDN-C26-418
FDNS
778150
9582594
1252
124
6
75.00
Underground
2026
FDN-C26-419
FDNS
778150
9582594
1252
128
-15
70.00
Underground
2026
UGE-S-26-472
FDNS
778178
9582678
1082
122
-58
210.00
Underground
2026
UGE-S-26-477
FDNS
778225
9582665
1083
253
-44
171.60
Underground
2026
UGE-S-26-478
FDNS
778225
9582665
1083
287
-44
190.00
Underground
2026
UGE-26-441
FDN
778207
9582824
1155
227
-32
90.00
Underground
2026
UGE-26-442
FDN
778207
9582824
1156
220
-20
125.00
Underground
2026
UGE-26-443
FDN
778195
9582869
1104
200
-30
100.00
Underground
2026
UGE-26-444
FDN
778195
9582869
1103
247
-43
70.00
Underground
2026
UGE-26-446
FDN
778186
9582810
1199
253
15
90.00
Underground
2026
UGE-26-447
FDN
778186
9582809
1199
237
16
105.00
Underground
2026
UGE-26-451
FDN
778195
9582870
1103
250
-61
100.00
Underground
2026
UGE-26-452
FDN
778195
9582869
1105
220
6
70.00
Underground
2026
UGE-26-453
FDN
778163
9582869
1158
253
44
45.00
Underground
2026
UGE-26-454
FDN
778163
9582869
1155
244
-59
35.00
Underground
2026
UGE-26-455
FDN
778126
9582705
1250
263
-9
140.10
Underground
2026
UGE-26-457
FDN
778195
9582877
1104
315
-12
75.00
Underground
2026
UGE-26-461
FDN
778126
9582704
1250
237
-11
175.15
Underground
2026
UGE-26-462
FDN
778124
9582606
1252
236
-16
130.00
Underground
2026
UGE-26-463
FDN
778125
9582605
1252
211
-15
155.00
Underground
2026
UGE-26-464
FDN
778124
9582607
1252
267
-18
100.00
Underground
2026
UGE-26-471
FDN
778125
9582787
1249
273
-2
146.00
Underground
2026
UGE-26-474
FDN
778125
9582785
1249
247
1
150.00
Underground
2026
UGE-26-479
FDN
778125
9582785
1250
290
5
143.60
Underground
2026
UGE-E-25-422
FDN - East
778138
9582952
1028
115
-7
775.40
Underground
2025
UGE-E-25-425
FDN - East
778172
9582956
1271
70
-8
500.00
Underground
2025
UGE-E-25-427
FDN - East
778154
9582829
1223
110
8
647.80
Underground
2025
UGE-E-26-429
FDN - East
777959
9583482
1194
93
15
551.40
Underground
2026
UGE-E-26-435
FDN - East
778153
9582828
1223
120
8
661.50
Underground
2026
UGE-E-26-436
FDN - East
778138
9582953
1029
120
13
491.60
Underground
2026
UGE-E-26-437
FDN - East
777959
9583482
1194
83
1
580.00
Underground
2026
UGE-E-26-448
FDN - East
778153
9582829
1224
98
17
709.80
Underground
2026
UGE-E-26-456
FDN - East
777959
9583482
1194
87
9
550.00
Underground
2026
UGE-E-26-458
FDN - East
778088
9583347
1003
60
-5
435.00
Underground
2026
UGE-E-26-465
FDN - East
778126
9582705
1250
76
5
550.00
Underground
2026
UGE-E-26-470
FDN - East
777959
9583482
1194
79
15
580.00
Underground
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]
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