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
LUNDIN GOLD REPORTS EXCEPTIONAL DRILLING RESULTS AT FDNS AND FDN EAST WITH FDNS ADVANCING TOWARDS INTEGRATION INTO MINE PLAN (CNW Group/Lundin Gold Inc.)
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."
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.
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.
For more information, please contact: Ron F. Hochstein, President and CEO, Tel: +1-604-806-3589, [email protected]; Brendan Creaney, Vice President, Corporate Development & Investor Relations, Tel: +1-604-376-4595, [email protected]
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