VANCOUVER, BC, Feb. 18, 2026 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce additional strong results from its ongoing conversion and near mine exploration drilling programs at the Fruta del Norte ("FDN") gold mine in southeast Ecuador. Following the declaration of inaugural Mineral Reserves at Fruta del Norte South ("FDNS"), continued drilling has further confirmed and expanded high grade mineralization within the deposit. At FDN East, where the Company recently announced its inaugural Mineral Resource, ongoing drilling has identified new high grade mineralized veins that extend the known footprint from 500 to 650 metres and highlight meaningful untapped potential. PDF Version
Figure 2: Map showing FDN and FDNS deposit with selected FDNS conversion and exploration drilling results (CNW Group/Lundin Gold Inc.)
Figure 3: Map showing FDN, FDNS, FDN East and the location of the newly intercepted veins with selected FDN East drilling results (CNW Group/Lundin Gold Inc.)
Figure 4: 2D active seismic survey cross section showing FDN East deposit with selected FDN East drilling results and new drill results along the east extension (CNW Group/Lundin Gold Inc.)
Lundin Gold Reports Further High-Grade Results at FDNS Including 91.3 g-t over 20.65 Metres and Expands the Mineralized Footprint at FDN East (CNW Group/Lundin Gold Inc.)
Highlights
FDNS Conversion Drilling: Drill results confirm gold mineralization with several outstanding intercepts and delineate wide, high grade zones within the mineral envelope supporting further Mineral Reserve expansion potential at FDNS.
FDNS Exploration Drilling: Drilling returned exceptional results outside the Mineral Resource envelope, discovering additional mineralized veins for further investigation in the southern sector and along the northern extension of the deposit, highlighting the growth potential of this mineral system.
FDN East: Newly discovered mineralized veins extend the known footprint by approximately 150 metres beyond the inaugural Mineral Resource, validating the Company's geological interpretation of a much broader mineralized trend potentially extending under cover toward the Sandia porphyry.
Jamie Beck, President and CEO, commented, "These results continue to demonstrate the strength and scale of the Fruta del Norte epithermal gold mineral system. Conversion drilling at FDNS is delivering wide, high grade intervals that strongly support future Mineral Reserve growth, while ongoing exploration drilling has discovered new veins that potentially extend the deposit to the north and south beyond the currently defined limits. At FDN East, results support our interpretation of a potential broader mineralized trend that may extend up to a kilometre toward the Sandia porphyry. Collectively, these results highlight the exceptional growth pipeline at Fruta del Norte."
FDNS Conversion Program Drilling Highlights (not true widths):
Drill hole FDN-C25-323 intersected 92.37 grams per tonne ("g/t") of gold ("Au") over 4.55m from 75.85m, including:
1,010 g/t Au over 0.40m
Drill hole FDN-C25-365 intersected 41.23 g/t Au over 8.40m from 12.05m, including:
131.86 g/t Au over 2.35m
Drill hole FDN-C25-364 intersected 30.82 g/t Au over 8.30m from 35.60m, including:
67.53 g/t Au over 3.45m
Drill hole FDN-C25-359 intersected 98.06 g/t Au over 5.80m from 28.45m, including:
405.08 g/t Au over 1.20m
FDNS Exploration Program Drilling Highlights (not true widths):
Drill hole UGE-S-25-384 intersected 91.32 g/t Au over 20.65m from 91.75m, including:
405.57 g/t Au over 2.80m
• Drill hole UGE-S-25-395 intersected 18.44 g/t Au over 3.40m from 226.20m, including:
59.0 g/t Au over 1.0m
FDN East Exploration Program Drilling Highlights (not true widths):
Drill hole UGE-E-25-401 intersected 12.75 g/t Au over 7.45m from 479.50m including:
47.67 g/t Au over 1.80m (Far eastern FDN East extension)
Drill hole UGE-E-25-361 intersected 42.41 g/t Au over 2.10m from 137.40m, including:
220.00 g/t Au over 0.40m
DRILLING PROGRAMS
Lundin Gold's near-mine exploration strategy is focused on extending mine life by discovering and delineating new mineralized zones close to FDN's operations. These efforts have contributed to significant Mineral Reserve additions since the start of commercial production.
In 2025, the Company completed over 121,519 metres of drilling across 383 holes. In 2026, the program is planned to expand to at least 133,000 metres, with 17 rigs now active across conversion and near-mine exploration programs, the largest drilling campaign ever on the FDN land package.
FDNS
In 2025, conversion drilling successfully advanced in the central portion of the deposit, where the Company recently declared an inaugural Mineral Reserve of 0.54 million ounces ("Moz") (2.50 million tonnes ("Mt") at 6.66 g/t Au) approximately 18 months after its discovery. Further information, including the 2025 Mineral Reserve and Mineral Resource statement, is available in the Company's news release dated February 17, 2026.
Conversion drilling in 2026 aims to continue to convert Inferred Resources to the Indicated category and support further Reserve additions. Several results to date have confirmed mineralization in distinct areas, including wide high grade zones in holes FDN-C25-365 (41.23 g/t Au over 8.40m) and FDN-C25-364 (30.82 g/t Au over 8.30m), within the central portion of FDNS.
Exploration drilling at FDNS has focused on its Northern and Southern Extensions. The exploratory hole UGE-S-25-395 (15.32 g/t Au over 3.70m; 18.44 g/t over 3.40m; 11.08 g/t Au over 3.55m) intercepted several mineralized veins and indicated areas for further expansion to the North. To the south, exploratory hole UGE-S25-384 (91.32 g/t Au over 20.65m) delivered a remarkable intercept, indicating the presence of additional veins that warrant follow-up drilling. Two rigs are currently active at FDNS, and full assay results are provided in Table 1.
FDN EAST
The FDN East deposit is a buried epithermal system made up of multiple subparallel north–south-trending veins located approximately 100 metres east of FDN's existing underground infrastructure. Drilling in 2025 outlined a 500 metre strike length and supported an initial Mineral Resource of 0.42 Moz Au (2.17 Mt at 6.01 g/t Au). For further details refer to the Company's news release dated February 17, 2026. The deposit remains completely open
Of note, the exploratory hole UGE-E-25-401(12.89 g/t Au over 5.45 m and 12.75 g/t Au over 7.45 m) discovered new mineralized veins located farther east, confirming mineralization continues approximately 150 metres east of the initial Mineral Resource. Drill hole UGE-E-25-422, which intersected typical epithermal hydrothermal alteration with brecciated quartz–chalcedony veining containing visible gold, further confirms the downdip extension of this newly identified zone (Figures 3 and 4). Assay results for UGE-E-25-422 are still pending
These recently completed exploration holes support the Company's geological interpretation that favourable host rocks present at FDN and FDN East continue beneath the sedimentary cover for approximately an additional one kilometre to the east. This interpretation is reinforced by the results of the recently acquired 2D active seismic survey (Figure 4). The potential mineralized trend identified beneath this cover remains entirely untested and represents a significant area for future discovery around FDN. Additional step-out drill holes are currently being planned. Two underground rigs are turning at FDN East, and a surface rig is scheduled for mobilization to the area.
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 February 18, 2026 at 3:00 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 Annual Information Form dated March 17, 2025.
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
Table 1: Drillhole assay results from the drilling program at FDNS 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-C25-322
26.35
27.60
1.25
0.72
17.60
16.79
FDNS
Underground
Including
26.75
27.15
0.40
0.23
51.00
42.40
FDN-C25-322
78.60
79.80
1.20
0.60
12.34
12.00
Including
79.40
79.80
0.40
0.20
33.70
19.00
FDN-C25-322
112.90
118.75
5.85
2.93
11.35
16.36
Including
115.80
116.20
0.40
0.20
145.00
102.00
FDN-C25-322
145.55
147.05
1.50
0.75
6.64
7.29
FDN-C25-323
0.00
2.35
2.35
2.27
4.62
21.03
FDNS
Underground
FDN-C25-323
3.80
8.25
4.45
4.30
9.17
49.41
Including
7.65
8.25
0.60
0.58
42.40
63.90
FDN-C25-323
37.95
40.55
2.60
2.56
7.23
59.09
Including
38.75
39.75
1.00
0.98
14.65
126.00
FDN-C25-323
46.30
49.50
3.20
3.15
34.66
22.26
Including
47.55
48.50
0.95
0.94
109.55
45.22
FDN-C25-323
51.85
56.70
4.85
4.78
22.37
51.72
Including
52.80
53.80
1.00
0.98
92.10
109.00
FDN-C25-323
59.65
61.80
2.15
2.12
6.73
163.91
Including
60.45
60.85
0.40
0.39
13.90
188.00
FDN-C25-323
71.55
74.00
2.45
2.41
5.28
21.22
Including
73.60
74.00
0.40
0.39
19.10
78.80
FDN-C25-323
75.85
80.40
4.55
4.48
92.37
51.98
Including
75.85
76.25
0.40
0.39
1010.00
357.00
FDN-C25-324
11.65
15.95
4.30
3.04
6.32
34.34
FDNS
Underground
Including
11.65
13.55
1.90
1.34
11.87
35.87
FDN-C25-324
39.10
39.70
0.60
0.39
30.50
16.70
FDN-C25-324
43.90
44.35
0.45
0.29
46.50
36.80
FDN-C25-324
66.30
69.05
2.75
1.77
23.89
13.85
Including
67.30
68.00
0.70
0.45
73.70
30.50
FDN-C25-324
79.75
81.55
1.80
1.16
7.50
19.08
Including
80.40
80.80
0.40
0.26
29.00
49.90
FDN-C25-324
94.25
96.25
2.00
1.41
30.11
32.31
Including
94.25
94.90
0.65
0.46
86.10
21.90
FDN-C25-324
99.90
100.85
0.95
0.67
52.80
10.70
FDN-C25-324
123.65
124.05
0.40
0.26
62.20
65.30
FDN-C25-324
193.40
194.65
1.25
0.88
16.62
107.60
Including
193.40
194.00
0.60
0.42
33.20
218.00
FDN-C25-324
260.30
263.75
3.45
2.22
6.33
27.48
Including
263.35
263.75
0.40
0.26
44.80
102.00
FDN-C25-327
31.20
33.30
2.10
1.72
4.25
16.42
FDNS
Underground
Including
31.60
32.05
0.45
0.37
16.70
51.90
FDN-C25-327
56.35
60.95
4.60
3.77
2.84
6.31
Including
59.45
59.85
0.40
0.33
9.23
5.30
FDN-C25-327
94.20
100.15
5.95
4.87
4.19
7.41
Including
94.20
95.10
0.90
0.74
15.40
9.10
FDN-C25-327
136.00
144.30
8.30
7.19
3.72
10.92
Including
138.70
139.15
0.45
0.39
15.90
22.80
FDN-C25-327
153.15
162.30
9.15
7.50
3.78
5.70
FDN-C25-332
0.00
4.15
4.15
4.09
6.06
9.11
FDNS
Underground
Including
1.80
2.90
1.10
1.08
19.85
8.40
FDN-C25-332
75.60
76.65
1.05
1.03
14.50
30.20
FDN-C25-332
134.90
140.35
5.45
4.72
6.37
83.45
Including
135.55
137.30
1.75
1.52
16.35
225.98
FDN-C25-333
0.00
2.10
2.10
1.90
5.91
8.46
FDNS
Underground
Including
0.00
0.55
0.55
0.50
19.90
10.00
FDN-C25-333
7.95
10.35
2.40
2.08
59.11
31.88
Including
7.95
8.35
0.40
0.35
328.00
112.00
FDN-C25-333
35.00
35.80
0.80
0.73
19.76
27.70
FDN-C25-333
40.80
42.70
1.90
1.72
5.74
41.81
Including
42.10
42.70
0.60
0.56
14.65
115.00
FDN-C25-333
43.50
47.65
4.15
3.90
3.74
16.56
FDN-C25-333
44.15
47.65
3.50
3.17
3.87
18.29
Including
47.10
47.65
0.55
0.50
7.83
14.00
FDN-C25-334
20.10
22.85
2.75
2.11
4.25
14.18
FDNS
Underground
Including
21.05
21.55
0.50
0.38
13.60
23.40
FDN-C25-334
25.55
25.95
0.40
0.28
41.00
13.50
FDN-C25-334
44.60
49.40
4.80
3.93
14.86
64.03
Including
47.30
48.55
1.25
1.02
43.18
216.16
FDN-C25-334
51.95
52.90
0.95
0.73
11.80
201.00
FDN-C25-334
66.00
71.05
5.05
3.87
43.13
50.11
Including
66.00
68.05
2.05
1.57
103.21
111.66
FDN-C25-334
75.00
76.15
1.15
0.88
56.28
14.17
FDN-C25-335
7.20
10.00
2.80
2.14
4.33
5.53
Including
7.20
7.60
0.40
0.31
16.25
10.70
FDN-C25-335
20.40
27.30
6.90
4.44
19.91
23.88
Including
20.40
23.15
2.75
1.77
30.57
29.95
Including
26.10
27.30
1.20
0.77
37.14
35.40
FDN-C25-335
41.00
43.25
2.25
1.84
42.07
36.42
Including
42.85
43.25
0.40
0.33
151.00
72.70
FDN-C25-336
9.40
13.40
4.00
3.98
7.41
10.00
FDNS
Underground
Including
9.40
10.95
1.55
1.54
15.77
16.75
FDN-C25-336
24.10
26.65
2.55
2.54
11.47
25.98
Including
24.10
25.05
0.95
0.95
18.00
28.80
FDN-C25-337
0.00
5.45
5.45
5.43
20.09
14.00
FDNS
Underground
Including
0.00
0.60
0.60
0.60
164.00
64.20
FDN-C25-337
22.50
24.70
2.20
2.19
6.85
33.72
Including
22.50
23.70
1.20
1.20
10.87
51.87
FDN-C25-337
44.70
47.35
2.65
2.65
11.95
38.48
Including
46.50
47.35
0.85
0.85
20.10
52.30
FDN-C25-337
49.60
52.45
2.85
2.85
6.21
19.03
FDN-C25-337
73.00
75.40
2.40
2.39
6.01
11.48
Including
73.40
74.40
1.00
1.00
12.35
10.20
FDN-C25-337
77.15
80.00
2.85
2.84
5.07
4.19
Including
77.15
77.55
0.40
0.40
24.80
12.90
FDN-C25-337
102.00
105.80
3.80
3.79
3.56
7.44
Including
102.00
103.00
1.00
1.00
8.15
7.20
FDN-C25-337
110.70
113.70
3.00
2.95
7.86
33.16
Including
111.10
112.30
1.20
1.18
15.62
14.43
FDN-C25-337
123.30
127.10
3.80
3.79
6.36
56.66
FDN-C25-342
91.60
97.35
5.75
5.40
20.23
135.34
FDNS
Underground
Including
92.25
94.05
1.80
1.69
61.42
379.03
FDN-C25-343
3.40
5.40
2.00
1.99
14.92
34.81
FDNS
Underground
Including
3.40
3.85
0.45
0.45
63.60
36.40
FDN-C25-343
20.00
24.60
4.60
3.98
5.91
11.83
Including
23.00
24.60
1.60
1.39
11.43
17.70
FDN-C25-343
38.60
43.25
4.65
4.03
13.94
20.40
Including
42.00
43.25
1.25
1.08
42.20
27.16
FDN-C25-343
61.20
63.30
2.10
2.09
8.74
10.29
FDN-C25-344
6.70
9.50
2.80
2.80
8.87
9.19
FDNS
Underground
Including
6.70
7.10
0.40
0.40
28.90
15.10
FDN-C25-344
53.20
55.60
2.40
2.40
4.59
5.40
Including
54.75
55.60
0.85
0.85
7.74
6.30
FDN-C25-344
59.10
61.30
2.20
2.20
6.13
7.35
Including
59.10
59.50
0.40
0.40
23.70
13.80
FDN-C25-345
9.00
10.20
1.20
0.98
14.29
9.80
FDNS
Underground
Including
9.00
9.80
0.80
0.66
20.70
12.50
FDN-C25-345
29.10
34.30
5.20
3.98
5.11
10.38
Including
32.90
34.30
1.40
1.07
14.03
13.77
FDN-C25-345
39.60
41.35
1.75
1.34
6.49
7.13
Including
40.95
41.35
0.40
0.31
23.20
18.50
FDN-C25-345
50.00
53.15
3.15
2.58
18.56
12.86
Including
50.80
52.15
1.35
1.11
37.73
20.01
FDN-C25-345
89.30
93.25
3.95
3.42
9.21
65.74
Including
89.30
90.45
1.15
1.00
23.63
115.40
FDN-C25-346
No Significant Results
FDNS
Underground
FDN-C25-347
37.55
40.90
3.35
2.57
5.95
12.50
Including
39.55
40.40
0.85
0.65
12.31
9.99
FDN-C25-348
35.10
44.80
9.70
9.70
30.99
19.72
FDNS
Underground
Including
36.50
40.10
3.60
3.60
73.82
38.49
FDN-C25-349
38.10
41.90
3.80
1.90
7.72
5.67
FDNS
Underground
Including
38.90
40.00
1.10
0.55
18.73
6.96
FDN-C25-349
45.35
47.80
2.45
1.23
4.85
5.12
Including
46.40
47.10
0.70
0.35
8.68
5.60
FDN-C25-349
58.65
62.60
3.95
1.98
5.46
4.96
Including
58.65
59.40
0.75
0.38
8.16
2.70
FDN-C25-350
54.75
56.90
2.15
1.86
7.54
5.42
FDNS
Underground
Including
55.80
56.90
1.10
0.95
12.15
8.50
FDN-C25-350
73.80
78.10
4.30
3.72
7.32
8.33
Including
74.60
75.30
0.70
0.61
34.40
20.30
FDN-C25-351
82.40
84.60
2.20
2.17
5.75
8.21
FDNS
Underground
Including
82.40
83.00
0.60
0.59
13.20
10.50
FDN-C25-351
88.60
93.05
4.45
4.38
25.45
5.99
Including
90.65
91.05
0.40
0.39
270.00
44.50
FDN-C25-351
98.05
100.25
2.20
2.19
9.11
7.32
Including
99.45
100.25
0.80
0.80
22.90
12.30
FDN-C25-351
125.20
130.50
5.30
5.28
7.50
20.92
Including
128.30
130.50
2.20
2.19
14.72
31.60
FDN-C25-352
63.40
65.55
2.15
2.14
5.79
10.30
Including
63.40
63.90
0.50
0.50
17.00
12.00
FDN-C25-353
No Significant Results
FDNS
Underground
FDN-C25-354
Pending Results
FDNS
Underground
FDN-C25-356
59.00
62.45
3.45
2.64
3.38
32.56
FDNS
Underground
Including
59.00
59.40
0.40
0.31
12.25
32.00
FDN-C25-356
128.20
130.50
2.30
1.48
11.52
120.84
Including
128.20
129.25
1.05
0.67
23.66
251.64
FDN-C25-356
145.05
154.75
9.70
6.86
10.23
94.97
Including
145.05
147.60
2.55
1.80
21.19
113.13
FDN-C25-356
177.60
180.60
3.00
2.46
4.67
69.33
Including
177.60
178.90
1.30
1.06
7.16
75.35
FDN-C25-357
Pending Results
FDNS
Underground
FDN-C25-358
70.80
74.20
3.40
3.28
13.83
21.78
FDNS
Underground
Including
72.50
73.55
1.05
1.01
42.00
48.07
FDN-C25-359
3.05
4.05
1.00
0.98
12.84
15.52
FDNS
Underground
Including
3.50
4.05
0.55
0.54
21.90
14.30
FDN-C25-359
21.50
25.35
3.85
3.79
90.56
446.28
Including
23.85
25.35
1.50
1.48
229.54
1085.33
FDN-C25-359
28.45
34.25
5.80
5.71
98.06
192.08
Including
32.10
33.30
1.20
1.18
405.08
364.83
FDN-C25-359
83.25
85.20
1.95
1.92
4.95
68.54
FDN-C25-360
34.25
39.35
5.10
4.18
7.63
83.49
FDNS
Underground
Including
35.75
37.35
1.60
1.31
14.33
145.64
FDN-C25-361
No Significant Results
FDNS
Underground
FDN-C25-362
26.30
27.75
1.45
1.40
10.47
41.24
FDNS
Underground
FDN-C25-362
38.15
39.70
1.55
1.50
5.73
51.80
FDN-C25-362
44.70
46.10
1.40
1.35
8.45
68.57
FDN-C25-363
35.30
36.85
1.55
1.53
17.21
17.20
FDNS
Underground
Including
35.30
35.75
0.45
0.44
57.10
31.70
FDN-C25-363
64.00
66.40
2.40
2.39
25.90
12.84
Including
64.95
65.35
0.40
0.40
151.50
50.00
FDN-C25-364
35.60
43.90
8.30
6.36
30.82
41.36
FDNS
Underground
Including
39.45
42.90
3.45
2.64
67.53
81.57
FDN-C25-364
53.85
58.90
5.05
4.14
3.60
9.51
Including
57.50
58.90
1.40
1.15
7.39
7.64
FDN-C25-365
5.30
5.75
0.45
0.45
28.10
42.10
FDNS
Underground
FDN-C25-365
7.45
10.00
2.55
2.54
5.09
16.29
FDN-C25-365
12.05
20.45
8.40
8.37
41.23
42.05
Including
18.10
20.45
2.35
2.34
131.86
81.08
FDN-C25-365
25.70
32.85
7.15
7.12
11.21
45.11
Including
30.80
32.85
2.05
2.04
16.21
48.87
FDN-C25-365
38.50
44.50
6.00
5.91
12.21
45.91
Including
43.25
44.50
1.25
1.23
22.16
83.66
FDN-C25-365
55.70
60.80
5.10
4.42
9.95
8.11
Including
58.75
60.80
2.05
1.78
21.57
8.38
FDN-C25-366
Pending Results
FDNS
Underground
FDN-C25-367
44.00
45.70
1.70
0.98
4.93
8.36
FDNS
Underground
Including
44.00
44.40
0.40
0.23
12.80
9.30
FDN-C25-367
48.95
51.15
2.20
1.26
8.89
48.40
FDN-C25-367
50.45
70.10
3.40
1.95
7.59
4.18
Including
50.45
51.15
0.70
0.40
13.95
84.30
FDN-C25-367
90.60
98.65
8.05
4.03
5.07
6.58
FDN-C25-367
114.20
118.80
4.60
4.17
12.53
7.96
Including
115.30
117.25
1.95
1.77
18.74
8.85
FDN-C25-368
97.35
106.70
9.35
8.79
9.24
9.86
FDNS
Underground
Including
103.50
106.70
3.20
3.01
17.29
11.12
FDN-C25-369
19.00
21.60
2.60
2.36
7.41
5.68
FDNS
Underground
Including
20.00
20.50
0.50
0.45
13.35
9.90
FDN-C25-370
19.30
23.85
4.55
2.28
54.73
48.83
FDNS
Underground
Including
23.00
23.85
0.85
0.43
91.66
50.81
FDN-C25-370
69.60
75.20
5.60
3.60
8.33
4.33
Including
69.60
70.15
0.55
0.35
47.80
8.40
FDN-C25-370
84.60
87.40
2.80
1.98
4.42
3.19
Including
85.00
85.85
0.85
0.65
8.49
5.74
FDN-C25-370
97.25
102.75
5.50
4.21
6.29
3.11
FDN-C25-371
14.60
17.00
2.40
2.32
4.51
13.24
FDNS
Underground
Including
16.55
17.00
0.45
0.43
14.65
25.60
FDN-C25-372
57.10
60.00
2.90
2.86
21.97
11.50
FDNS
Underground
Including
58.90
60.00
1.10
1.08
52.00
18.00
FDN-C25-373
24.15
24.95
0.80
0.69
11.53
30.05
FDNS
Underground
Including
24.55
24.95
0.40
0.35
21.10
33.90
FDN-C25-374
Pending Results
FDNS
Underground
FDN-C25-375
Pending Results
FDNS
Underground
FDN-C25-376
Pending Results
FDNS
Underground
FDN-C25-377
Pending Results
FDNS
Underground
UGE-S-25-384
40.65
43.50
2.85
2.81
3.50
3.91
FDNS
Underground
UGE-S-25-384
83.30
85.80
2.50
2.46
20.95
10.63
Including
83.30
84.30
1.00
0.98
47.18
20.83
UGE-S-25-384
91.75
112.40
20.65
20.34
91.32
31.33
Including
109.10
111.90
2.80
2.76
405.57
80.82
UGE-S-25-384
117.80
122.30
4.50
4.48
21.52
10.46
Including
121.90
122.30
0.40
0.40
204.00
52.20
UGE-S-25-393
No Significant Results
FDNS
Underground
UGE-S-25-394
247.10
248.75
1.65
1.26
6.20
18.45
FDNS
Underground
Including
247.60
248.05
0.45
0.34
19.15
55.50
UGE-S-25-394
254.05
258.05
4.00
3.06
10.17
6.57
Including
256.70
258.05
1.35
1.03
28.44
10.54
UGE-S-25-395
158.80
160.20
1.40
0.99
26.25
18.24
FDNS
Underground
Including
158.80
159.20
0.40
0.28
89.80
40.60
UGE-S-25-395
181.15
184.85
3.70
3.69
15.32
10.87
Including
181.15
182.40
1.25
1.25
43.70
18.02
UGE-S-25-395
217.45
220.20
2.75
2.75
6.37
24.96
Including
217.45
218.25
0.80
0.80
16.05
38.80
UGE-S-25-395
226.20
229.60
3.40
3.40
18.44
21.85
Including
226.20
227.20
1.00
1.00
59.00
54.60
UGE-S-25-395
257.65
261.20
3.55
3.50
11.08
23.79
Including
260.70
261.20
0.50
0.49
41.30
24.20
UGE-S-25-395
277.05
279.05
2.00
1.97
6.44
6.08
Including
278.65
279.05
0.40
0.39
13.60
15.80
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-25-361
137.40
139.50
2.10
2.03
42.41
14.09
FDN-East
Underground
Including
138.10
138.50
0.40
0.39
220.00
66.50
UGE-E-25-361
190.00
196.70
6.70
6.55
5.01
5.82
Including
191.65
192.20
0.55
0.54
15.30
8.20
Including
196.30
196.70
0.40
0.39
17.85
7.70
UGE-E-25-379
172.00
172.40
0.40
0.39
15.55
6.60
FDN-East
Underground
UGE-E-25-379
219.30
222.40
3.10
3.05
4.71
4.57
UGE-E-25-386
No Significant Results
FDN-East
Underground
UGE-E-25-389
210.40
211.90
1.50
1.36
11.40
4.13
FDN-East
Underground
Including
211.50
211.90
0.40
0.36
42.10
14.40
UGE-E-25-390
221.10
223.90
2.80
2.77
6.01
154.87
FDN-East
Underground
UGE-E-25-390
277.00
285.15
8.15
8.12
5.95
16.67
Including
277.00
277.40
0.40
0.40
101.50
47.90
UGE-E-25-392
No Significant Results
FDN-East
Underground
UGE-E-25-401
466.80
472.25
5.45
-
12.89
17.47
FDN-East Exploration
Underground
Including
466.80
468.25
1.45
-
44.91
54.23
UGE-E-25-401
479.50
486.95
7.45
-
12.75
185.77
Including
485.15
486.95
1.80
-
47.67
608.67
UGE-E-25-401
512.00
513.00
1.00
-
9.45
7.70
UGE-E-25-402
157.50
158.30
0.80
0.77
101.71
42.20
FDN-East
Underground
UGE-E-25-405
128.55
130.90
2.35
-
5.68
2.80
FDN-East Exploration
Underground
Including
130.15
130.90
0.75
-
17.35
5.80
UGE-E-25-405
346.00
347.00
1.00
0.98
13.25
7.10
FDN-East
UGE-E-25-410
No Significant Results
FDN-East
Underground
UGE-E-25-419
138.65
139.90
1.25
0.98
9.68
6.84
FDN-East
Underground
Including
138.65
139.05
0.40
0.98
29.20
16.90
UGE-E-25-422
Pending Results
FDN-East
Underground
UGE-E-25-424
No Significant Results
FDN-East
Underground
UGE-E-25-425
Pending Results
FDN-East
Underground
UGE-E-25-427
Pending Results
FDN-East
Underground
Table 3: FDNS and FDN East Collar Drill Holes
Hole ID
Prospect
Easting
Northing
Elevation
Azimuth
Dip
EOH (m)
Zone
Year
FDN-C25-322
FDNS
778221
9582427
1088
100
-70
200.00
Underground
2025
FDN-C25-323
FDNS
778222
9582426
1088
135
-27
90.00
Underground
2025
FDN-C25-324
FDNS
778221
9582427
1088
128
-63
270.00
Underground
2025
FDN-C25-327
FDNS
778211
9582326
1185
141
35
177.90
Underground
2025
FDN-C25-332
FDNS
778199
9582348
1089
125
-28
160.00
Underground
2025
FDN-C25-333
FDNS
778199
9582348
1089
130
-44
149.90
Underground
2025
FDN-C25-334
FDNS
778199
9582348
1088
95
-57
120.00
Underground
2025
FDN-C25-335
FDNS
778199
9582348
1088
49
-59
250.00
Underground
2025
FDN-C25-336
FDNS
778199
9582348
1090
107
-5
150.00
Underground
2025
FDN-C25-337
FDNS
778199
9582348
1090
95
-14
156.20
Underground
2025
FDN-C25-342
FDNS
778205
9582143
1192
42
-37
118.10
Underground
2025
FDN-C25-343
FDNS
778207
9582428
1181
153
3
70.00
Underground
2025
FDN-C25-344
FDNS
778211
9582326
1183
161
-3
80.00
Underground
2025
FDN-C25-345
FDNS
778222
9582330
1182
72
-40
124.50
Underground
2025
FDN-C25-346
FDNS
778194
9582527
1182
360
39
73.10
Underground
2025
FDN-C25-347
FDNS
778193
9582527
1180
341
5
65.00
Underground
2025
FDN-C25-348
FDNS
778193
9582522
1180
218
22
70.00
Underground
2025
FDN-C25-349
FDNS
778210
9582331
1185
37
40
89.50
Underground
2025
FDN-C25-350
FDNS
778222
9582139
1194
89
22
165.00
Underground
2025
FDN-C25-351
FDNS
778204
9582143
1193
42
-8
145.70
Underground
2025
FDN-C25-352
FDNS
778218
9582534
1086
128
-41
170.00
Underground
2025
FDN-C25-353
FDNS
778219
9582535
1086
95
-25
130.00
Underground
2025
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-C25-356
FDNS
778218
9582534
1085
132
-56
190.00
Underground
2025
FDN-C25-357
FDNS
778218
9582534
1085
105
-54
166.10
Underground
2025
FDN-C25-358
FDNS
778218
9582534
1088
125
15
85.00
Underground
2025
FDN-C25-359
FDNS
778202
9582425
1080
120
-64
90.50
Underground
2025
FDN-C25-360
FDNS
778200
9582432
1087
71
-45
95.00
Underground
2025
FDN-C25-361
FDNS
778221
9582427
1090
65
25
74.00
Underground
2025
FDN-C25-362
FDNS
778221
9582428
1091
110
37
71.00
Underground
2025
FDN-C25-363
FDNS
778176
9582553
1088
328
20
130.00
Underground
2025
FDN-C25-364
FDNS
778176
9582553
1087
342
5
100.00
Underground
2025
FDN-C25-365
FDNS
778176
9582552
1088
308
35
70.00
Underground
2025
FDN-C25-366
FDNS
778211
9582662
1083
238
-32
100.00
Underground
2025
FDN-C25-367
FDNS
778211
9582662
1083
246
-22
130.00
Underground
2025
FDN-C25-368
FDNS
778212
9582662
1086
220
30
110.00
Underground
2025
FDN-C25-369
FDNS
778211
9582667
1087
308
45
60.00
Underground
2025
FDN-C25-370
FDNS
778175
9582550
1086
282
-36
110.00
Underground
2025
FDN-C25-371
FDNS
778174
9582680
1085
250
27
80.00
Underground
2025
FDN-C25-372
FDNS
778174
9582680
1083
255
-15
80.00
Underground
2025
FDN-C25-373
FDNS
778199
9582547
1085
100
-50
76.00
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
UGE-S-25-384
FDNS
778205
9582136
1194
120
5
229.20
Underground
2025
UGE-S-25-393
FDNS
778152
9582828
1221
157
-34
210.00
Underground
2025
UGE-S-25-394
FDNS
778151
9582828
1222
170
-5
300.00
Underground
2025
UGE-S-25-395
FDNS
778151
9582828
1221
173
-55
350.00
Underground
2025
UGE-E-25-361
FDN - East
778168
9583295
1271
80
9
270.40
Underground
2025
UGE-E-25-379
FDN - East
778168
9583295
1271
60
11
265.00
Underground
2025
UGE-E-25-386
FDN - East
778168
9583296
1272
50
23
300.00
Underground
2025
UGE-E-25-389
FDN - East
778167
9583294
1271
90
26
448.80
Underground
2025
UGE-E-25-390
FDN - East
778172
9582956
1271
80
7
478.40
Underground
2025
UGE-E-25-392
FDN - East
778171
9582955
1272
115
10
508.00
Underground
2025
UGE-E-25-401
FDN - East
778154
9582829
1223
101
8
724.10
Underground
2025
UGE-E-25-402
FDN - East
778168
9583294
1271
90
15
500.30
Underground
2025
UGE-E-25-405
FDN - East
778171
9582955
1271
110
-10
457.50
Underground
2025
UGE-E-25-410
FDN - East
778168
9583294
1270
80
0
410.00
Underground
2025
UGE-E-25-419
FDN - East
778168
9583296
1271
66
10
450.00
Underground
2025
UGE-E-25-422
FDN - East
778138
9582952
1028
115
-7
775.40
Underground
2025
UGE-E-25-424
FDN - East
778168
9583295
1270
60
0
375.00
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
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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