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LUNDIN GOLD UPGRADES 2022 GUIDANCE ON THE BACK OF A STRONG SECOND QUARTER

Newswire.ca - Tue Aug 9, 6:30PM CDT

Fruta del Norte achieves gold production of 233,555 oz and an AISC¹ of $771/oz sold in the first half of 2022

VANCOUVER, BC, Aug. 9, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG)  (OTCQX: LUGDF) ("Lundin Gold" or the "Company") today reports results for the second quarter and first half of 2022, highlighted by Q2 production of 111,890 ounces ("oz") of gold and sale of 96,291 oz at a cash operating cost1 of $702 per oz sold and all-in sustaining cost ("AISC")1 of $864 per oz sold. For the first half of 2022, Lundin Gold produced 233,555 oz and sold 215,573 of gold at an AISC of $771 per oz. In the second quarter, the Company generated cash from operating activities of $60.7 million and free cash flow1 of $21.2 million resulting in a cash balance of $301 million at quarter end. Free cash flow was impacted by the payment in April of annual income taxes and profit sharing of $60.7 million for 2021. All amounts are in U.S. dollars unless otherwise indicated. PDF version.

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