VANCOUVER, BC, Feb. 17, 2022 /CNW/ - Lundin Gold Inc.
(TSX: LUG) (Nasdaq Stockholm: LUG) ("Lundin Gold" or the
"Company) today announces that Mr. Lukas Lundin has informed the Company that he
intends to retire as both Chairman and Non-Executive Director of
the Board upon the completion of his term at the Company's upcoming
2022 annual meeting of shareholders. PDF version.
Ron Hochstein, Lundin Gold's President and CEO, commented,
"On behalf of the Board and management team of Lundin Gold, I want to thank Lukas for his
dedication and invaluable contribution to the Company over the past
eight years. Under his leadership, Lundin
Gold acquired the Fruta del Norte deposit in Ecuador and then developed it quickly into one
of the highest-grade producing gold mines in the world today. As
Chairman, his vision, strategic leadership and guidance have been a
great benefit to all of us."
Lukas Lundin, Chairman of the
Board, added, "The acquisition of Fruta del Norte and the
fast-paced execution of the feasibility study, engineering,
government agreements, financing and construction show the
expertise of the Lundin Group in working in areas many others would
shy away from. I am very proud of what the team has accomplished,
all while showing the significant benefits achievable from
responsible resource development."
Lundin Gold's Board of Directors
has developed a succession plan to ensure a smooth transition and
expects to name a new Chair of the Board following the annual
meeting.
About Lundin Gold
Lundin Gold, headquartered
in Vancouver, Canada, owns
the Fruta del Norte gold mine in southeast Ecuador and a large
exploration land package that hosts the Fruta del Norte deposit at
its northern edge. Fruta del Norte is among the highest-grade
operating gold mines in the world.
The Company's board and management team have extensive expertise
in mine operations and are dedicated to operating Fruta del Norte
responsibly. The Company operates with transparency and in
accordance with international best practices. Lundin Gold is committed to delivering value to
its shareholders, while simultaneously providing economic and
social benefits to impacted communities, fostering a healthy and
safe workplace and minimizing the environmental impact. The Company
believes that the value created through the development of Fruta
del Norte will benefit its shareholders, the Government and the
citizens of Ecuador.
Additional Information
The 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 17, 2022 at
12:00 p.m. Pacific Time through the
contact persons set out below.
Caution Regarding Forward-Looking Information and
Statements
Certain of the information and statements in this press release
are considered "forward-looking information" or "forward-looking
statements" as those terms are defined under Canadian securities
laws (collectively referred to as "forward-looking statements").
Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates",
"expects", "is expected", "scheduled", "estimates", "pending",
"intends", "plans", "forecasts", "targets", or "hopes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements. By their nature, forward-looking
statements and information involve assumptions, inherent risks and
uncertainties, many of which are difficult to predict, and are
usually beyond the control of management, that could cause actual
results to be materially different from those expressed by these
forward-looking statements and information. Lundin
Gold believes that the expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct.
Forward-looking information should not be unduly relied upon. This
information speaks only as of the date of this press release, and
the Company will not necessarily update this information, unless
required to do so by securities laws.
This press release contains forward-looking information relating
to succession matters on Lundin
Gold's board of directors. There can be no assurance that
such statements will prove to be accurate, as Lundin Gold's actual results and future events
could differ materially from those anticipated in this
forward-looking information as a result of the factors discussed in
the "Risk Factors" section in Lundin
Gold's Annual Information Form dated March 2, 2021, which is available at
www.lundingold.com or on SEDAR.
Lundin Gold's actual results
could differ materially from those anticipated. Factors that could
cause actual results to differ materially from any forward-looking
statement or that could have a material impact on the Company or
the trading price of its shares include: risks relating to the
impacts of a pandemic virus outbreak, political and economic
instability in Ecuador, production
estimates, mining operations, the Company's community
relationships, ability to maintain obligations or comply with debt,
financing requirements, volatility in the price of gold, shortages
of critical supplies, compliance with environmental laws and
liability for environmental contamination, lack of availability of
infrastructure, the Company's reliance on one mine, deficient or
vulnerable title to concessions, easements and surface rights,
uncertainty with the tax regime in Ecuador, the Company's workforce and its
labour relations, inherent safety hazards and risks to the health
and safety of the Company's employees and contractors, the
Company's ability to obtain, maintain or renew regulatory
approvals, permits and licenses, the imprecision of mineral reserve
and resource estimates, key talent recruitment and retention of key
personnel, volatility in the market price of the shares, the
potential influence of the Company's largest shareholders, measures
to protect endangered species and critical habitats, the reliance
of the Company on its information systems and the risk of
cyber-attacks on those systems, the cost of non-compliance and
compliance costs, exploration and development risks, risks related
to illegal mining, the adequacy of the Company's insurance,
uncertainty as to reclamation and decommissioning, the ability
of Lundin Gold to ensure compliance with anti-bribery and
anti- corruption laws, the uncertainty regarding risks posed by
climate change, the potential for litigation, limits of disclosure
and internal controls, security risks to the Company, its assets
and its personnel, conflicts of interest, risks that the Company
will not declare dividends and social media and reputation.
SOURCE Lundin Gold Inc.