Lundin Gold announced its Q4 and Full Year 2020 results on February 24, 2021, with key highlights during its first year of commercial production including gold production of 96,830 ounces ("oz") during the quarter and 202,830 oz during the 2020 Operating Period[1], and low average all-in sustaining costs of $747 and $773 per oz of gold sold during the same periods, respectively. Cash flow from operations was $95.0 million in the fourth quarter and $113.6 million in the 2020 Year, and the Company made scheduled principal and interest payments under its debt facilities totalling $77.7 million in the 2020 Year.

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A copy of the presentation will be available on the Company's website.

Non-IFRS Measures

This news release refers to all-in sustaining costs which is not a measure recognized under IFRS and does not have a standardized meaning prescribed by IFRS. This and other measures may differ from those made by other companies and accordingly may not be comparable to such measures as reported by other companies. These measures have been derived from the Company's financial statements because the Company believes that, with the achievement of commercial production, they are of assistance in the understanding of the results of operations and its financial position. Please refer to the Company's MD&A for the year ended December 31, 2020 for an explanation of non-IFRS measures used.

Additional Information

This information was publicly communicated on March 1, 2021 at 3:00 p.m. Pacific Time through the contact persons set out below.

[1] The 2020 Operating Period relates to the period from the start of commercial production on March 1, 2020, to December 31, 2020.
 

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