LUNDIN GOLD REPORTS SECOND QUARTER 2023 RESULTS AND UPDATES 2023 GUIDANCE

Fruta del Norte achieves record gold production of 269,752 oz and AISC¹ of $765 per oz sold in the first half of 2023

VANCOUVER, BC, Aug. 9, 2023 /CNW/ - Lundin Gold Inc. (TSX:LUG.TO) (NasdaqStockholm:LUG) (OTCQX:LUGDF) ("Lundin Gold" or the "Company") today reports results for the second quarter and first half of 2023, highlighted by Q2 production of 129,731 ounces ("oz") of gold and sales of 128,958 oz, at a cash operating cost¹ of $644 per oz sold and all-in sustaining cost ("AISC")¹ of $802 per oz sold. For the first half of 2023, Lundin Gold produced 269,752 oz and sold 263,649 of gold at an AISC of $765 per oz. Lundin Gold generated $132 million in free cash flow¹ over the three-month period, the highest quarterly free cash flow¹ achieved to date. All amounts are in U.S. dollars unless otherwise indicated. View PDF version.