Lundin Gold discovers two copper-gold porphyries, targets early 2027 maiden resource at Sandia

Canada NewsWire VANCOUVER, BC , July 21, 2026 /CNW/  -- Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company")  is pleased to announce continued success from its copper-gold porphyry exploration programs at its 100%-owned Fruta del Norte ("FDN") district in southeast Ecuador. Following the discovery of Sandia in 2025 and continued drilling success across the district, the Company now targets a maiden mineral resource estimate ("MRE") for the Sandia copper-gold porphyry in early 2027, marking an important milestone in advancing the first of the Company's identified porphyry systems toward the resource stage. PDF Version   Recent drilling continues to expand the Sandia deposit while also resulting in the discovery of two new mineralized porphyry systems, Sandia Northeast and Sandia Southeast, increasing the number of porphyry centres identified across the FDN district from five to seven.

Highlights Two New Porphyry Discoveries : Drilling at Sandia Northeast and Sandia Southeast has identified two additional copper-gold porphyry systems, increasing the total number of porphyry discoveries on the FDN concessions to seven. Sandia Continues to Expand : The deposit footprint has now grown to approximately 1,600 m strike x 700 m width x 1,000 m depth and remains open to the north, east and at depth. Sandia is currently the largest and highest-grade porphyry system identified on the FDN concessions.

Sandia Maiden Resource Estimate Targeted for early 2027 : Represents the first mineral resource milestone for the Company's porphyry exploration program at FDN. Highlights from drilling programs at Sandia, Sandia Northeast, and Sandia Southeast are outlined below, with detailed results provided in Appendix 1. Jamie Beck, President and CEO, commented, "Targeting a maiden