VANCOUVER, BC — February 27, 2026 — Leads & Copy —
Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) announced that the Toronto Stock Exchange has accepted the notice of the company’s intention to renew its normal course issuer bid (NCIB). Under the NCIB, Lundin Gold may purchase for cancellation up to 12,086,020 common shares, representing 5% of the 241,720,418 issued and outstanding common shares as of February 24, 2026.
The purchases can be made at prevailing market prices during a 12-month period commencing on March 3, 2026, and ending on the earlier of March 2, 2027, and the date on which the company reaches the maximum purchases permitted under the NCIB. All values are presented in United States dollars unless otherwise stated.
Purchases of common shares under the NCIB will be made in accordance with TSX rules through the facilities of the TSX and/or through alternative Canadian trading systems. Daily purchases on the TSX under the NCIB will be limited to a maximum of 234,063 common shares, representing 25% of 936,252, the average daily trading volume of the common shares on the TSX for six months ending January 31, 2026, subject to any purchases made pursuant to the block purchase exception.
Lundin Gold believes that the NCIB continues to provide a flexible tool as part of the company’s overall capital allocation program. The repurchase of common shares at certain market prices is an appropriate and desirable use of the company’s funds that is in the best interests of Lundin Gold and beneficial to its shareholders. The company intends to make any purchases on an opportunistic basis, taking share price and other considerations into account. The NCIB will be funded using Lundin Gold’s existing cash resources.
The actual number of common shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of Lundin Gold, subject to applicable securities laws and TSX rules. Lundin Gold may elect to suspend or discontinue repurchases of common shares at any time, in accordance with applicable laws. There can be no assurances that any such purchases of common shares under the NCIB will be completed.
Lundin Gold’s most recent normal course issuer bid commenced on February 25, 2025, for the purchase of up to 12,020,129 common shares of Lundin Gold, and expired on February 24, 2026. Lundin Gold did not purchase any common shares during the 2025 NCIB.
Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. The company’s board and management team are dedicated to operating Fruta del Norte responsibly, with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing environmental impact. Furthermore, Lundin Gold is focused on continued exploration to identify and develop new resource opportunities.
Additional 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 February 26, 2026, at 6:00 p.m. Pacific Time.
Source: Lundin Gold Inc.
