Fruta del Norte Project

On May 30, 2017, Lundin Gold Inc. ("Lundin Gold") announced a project finance package of US$400 to US$450 million with the Orion Mine Finance Group ("Orion") and Blackstone Tactical Opportunities ("Blackstone"), which will provide the foundation for the development of its Fruta del Norte project in Ecuador. The financing is comprised of a US$150 million gold prepay credit facility, a US$150 million stream loan credit facility and committed participation of US$100 to US$150 million in future equity financings required to fund the project.

Orion and Blackstone were also granted the right to purchase 50% of Fruta del Norte gold production, up to a maximum of 2.5 million oz., at a price determined based on monthly delivery dates and a defined quotational period.

The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Cóndor region, 139 km east-northeast of Loja, the fourth-largest city in Ecuador.
Lundin Gold is a Canadian mining company listed on the TSX and Nasdaq Stockholm under the symbol "LUG".

Orion is a mining-focused investment business with approximately US$3.04 billion under management (as of March 31, 2017) specializing in providing flexible capital investment solutions to mining companies in the base and precious metals sector.

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