Lundin Gold Inc. Advances Exploration at Fruta del Norte, Ecuador

Lundin Gold Inc. (LGC) announced on 26 October 2026 that its ongoing exploration and conversion drilling programs at the Fruta del Norte (FDN) gold mine in southeastern Ecuador are continuing to produce encouraging results. The company highlighted high‑grade intercepts from the FDNS, FDN East and Bonza Sur drilling campaigns.

Key Findings

  • FDNS Exploration Program The FDNS program confirmed that mineralisation extends beyond the existing resource envelope. Several new high‑grade zones were identified in both the northern and southern sections of the deposit, indicating that the mineral resource is more extensive than previously delineated.

  • FDN East Conversion Drilling Conversion drilling has begun to refine the geological model at FDN East. The results confirm the continuity of mineralisation and support the potential for additional reserve additions. The drilling data reinforce the deposit’s structural consistency and economic viability.

  • Bonza Sur Drilling The Bonza Sur program has intersected a very high‑grade interval, the highest reported for the deposit. This finding demonstrates further exploration potential and suggests that the deposit may host additional high‑grade zones not yet explored.

  • Underground Development Underground development at FDN and FDN East is progressing to improve access for future drilling and to prepare for potential future production. The expansion of underground infrastructure will facilitate the transition from exploration to production stages.

Executive Commentary

Lundin Gold’s president and chief executive officer emphasized that the recent results reinforce confidence in the combined potential of the FDNS, FDN East and Bonza Sur deposits to sustain production at current levels over the long term. The ongoing exploration and conversion work is positioned to expand the proven resource base and to advance the Fruta del Norte district toward future production stages.

Industry Context

The Fruta del Norte project is one of Ecuador’s most significant gold deposits, situated in a region that has attracted considerable investment in gold mining. Lundin Gold’s continued focus on detailed geological modelling and conversion drilling aligns with best practices in the industry, where comprehensive resource definition is critical to securing financing and regulatory approvals. The company’s emphasis on technical drilling outcomes—rather than immediate financial metrics—highlights a disciplined approach to resource development, ensuring that the deposit’s long‑term potential is thoroughly vetted before moving to production.

Conclusion

Lundin Gold Inc.’s latest update underscores a robust exploration trajectory at Fruta del Norte. By extending mineralisation beyond the current resource envelope, confirming high‑grade intercepts across multiple zones, and advancing underground infrastructure, Lundin is strengthening its position within the high‑grade gold sector. The company’s focus on technical rigor and strategic development lays a solid foundation for future production and potential shareholder value creation.