Lorito Holdings S.à.r.l. ("Lorito"), Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin (the "Lundin Family Trust"), and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that they have agreed to acquire 4,196,357 common shares of ("Lundin Gold") (TSX: LUG, Nasdaq Stockholm: LUG) each on December 05, 2019 for a total of 8,392,714 common shares of Lundin Gold at a price of Can$7.25 per common share for a total consideration of Can$61,987,543.50. This represents approximately 3.76% of the currently outstanding and issued common shares of Lundin Gold with the common shares being acquired from Kinross Gold Corporation ("Kinross").

Newcrest has today acquired a further 10,977,502 common shares of Lundin Gold Inc. (representing 4.9% of the outstanding common shares) from Kinross Gold Corporation for C$7.25 per share, or C$79.6 million in the aggregate, at a 4.2% discount to last trade price. These additional shares increase Newcrest's ownership interest in Lundin Gold to 32%.

Lorito Holdings S.à.r.l. ("Lorito"), Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin (the "Lundin Family Trust"), and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that they have agreed to acquire 4,196,357 common shares of ("Lundin Gold") (TSX: LUG, Nasdaq Stockholm: LUG) each on December 05, 2019 for a total of 8,392,714 common shares of Lundin Gold at a price of Can$7.25 per common share for a total consideration of Can$61,987,543.50. This represents approximately 3.76% of the currently outstanding and issued common shares of Lundin Gold with the common shares being acquired from Kinross Gold Corporation ("Kinross").