VANCOUVER, BC, June 27, 2024 /CNW/ - Lundin Gold Inc.
(TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold"
or the "Company") is pleased to announce the closing of the buy
out of the stream credit facility (the "Stream Facility") and
offtake agreement (the "Offtake") for its Fruta del Norte gold mine
("FDN") in Ecuador from Newmont
Corporation, following the payment of the first tranche of the
purchase price of US$180
million. The second and final tranche of US$150 million is due on or before the end of the
third quarter of 2024. The Stream Facility and Offtake were
the last two remaining facilities established as part of a project
financing package to fund the development and construction of FDN.
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About Lundin Gold
Lundin Gold, headquartered in
Vancouver, Canada, is committed to
positive and long-lasting impact on our host communities, while
delivering significant value to stakeholders through operational
excellence, cash flow generation and focused growth. Lundin Gold currently operates its 100% owned
Fruta del Norte ("FDN") gold mine in southeast Ecuador, which is one of the highest-grade
gold mines in production in the world today. The Company also owns
a portfolio of prospective exploration properties close to
FDN.
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 June 27, 2024 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, such as
in statements relating to payment of the second and final tranche
of the Stream Facility and Offtake buy out. 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 26, 2024, which is available at
www.lundingold.com or www.sedarplus.ca.
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;
forecasts relating to production and costs; mining operations;
security; non-compliance with laws and regulations and compliance
costs; tax changes in Ecuador;
waste disposal and tailings; government or regulatory approvals;
environmental compliance; gold price; infrastructure; dependence on
a single mine; exploration and development; control of Lundin Gold; availability of workforce and
labour relations; dividends; information systems and cyber
security; Mineral Reserve and Mineral Resource estimates; 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; shortages of critical resources; 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; climate change; illegal mining; conflicts of interest;
ability to maintain obligations or comply with debt; violation of
anti-bribery and corruption laws; internal controls; claims and
legal proceedings; and reclamation obligations.
SOURCE Lundin Gold Inc.
