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VANCOUVER, BC, Oct. 24, 2022 /PRNewswire/ — Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (“Lundin Gold” or the “Company”) announces that South Ventilation Raise (“SVR”) at its Fruta del Norte gold mine in southeastern Ecuador is now complete and operational. View PDF.
The SVR has been under construction for 3 years, during which time the assignment experienced delays due to COVID and various technical challenges. In mid-2021, Lundin Gold overhauled the countertop from a classic 5. 1-meter mounting hole to a 2. 1-meter diameter pilot mount. , followed through a 5. 1-meter downcut and concrete cladding. The cut and line were finished in early October and enthusiasts were commissioned for more than two weeks. After the final touch of the SVR, ventilation in the mine will accumulate from 180 m3/s to 350 m3/s, achieving better power and enabling mining activities at all levels.
Ron Hochstein, President and Chief Executive Officer, said, “Through it all, I am very pleased to announce that the SVR is complete and operational. Assigning the SVR faced challenges, but the team worked tirelessly to make sure delays didn’t affect operations. With the SVR now complete and up and running, the entire box of Fruta del Norte is available and exploitable, and the cycle times of shipping trucks can be improved. “
About Lundin Gold
Lundin Gold, based in Vancouver, Canada, owns the Fruta del Norte gold mine in southeastern Ecuador. Fruta del Norte is one of the richest gold mines in the world.
The company’s Board of Directors and control team have extensive experience in mining operations and are committed to the culpable operation of Fruta del Norte. The Company operates transparently and in accordance with the most productive foreign practices. Lundin Gold is committed to delivering price to its shareholders, while offering economic and social advantages to affected communities, selling a healthy office and minimizing environmental impact. The Company believes that the price created through the progression of Fruta del Norte will gain advantages for its shareholders, the government and the citizens of Ecuador.
Additional Information
The data contained in this press release is subject to Lundin Gold’s disclosure needs under the EU Market Abuse Regulation. This data was publicly communicated on October 24, 2022 at 14:00 Pacific Time via the tactile persons listed below.
Cautionary Note on Forward-Looking Information and Statements
Certain data and emails contained in this news release are considered “forward-looking data” or “forward-looking data” as such terms are explained under Canadian securities legislation (collectively, “forward-looking data”). Anyone who expresses or discusses expectations, expectations, beliefs, plans, projections, goals, assumptions, or long-term occasions or functions (often, but not always, known through words or words such as “believes”, “anticipates”, “expects”, “is expected”, “planned”, “estimates”, “expects”, “intends”, “plans”, “expects”, “goals” or “hopes”, or diversifications of those words and words or s that certain actions, occasions or effects “may also just”, “may also just”, “should”, “will merit”, “may also just”, “will take” or “will occur” and similar expressions) they are not old factual and would possibly be forward looking. By their nature, forward-looking emails and data involve assumptions, dangers and inherent uncertainties, many of which are difficult to expect and sometimes beyond of management control, which can also cause r that the actual effects differ materially from those expressed in such emails. . with a vision of the future – s and prospective data. Lundin Gold believes that the expectations reflected in such forward-looking data are reasonable, but there can be no assurance that such expectations will prove correct. Prospective data should not be unduly relied upon. This data speaks only as of the date of this press release, and the Company will not necessarily update this data, unless required by securities legislation.
This press release comprises forward-looking data in several places, adding statements related to the expected benefits of increased ventilation at the Fruta del Norte gold mine. There can be no assurance that such statements will prove to be accurate, as Lundin Gold’s actual effects and long-term events may differ materially from those expected in such forward-looking data due to the points discussed in Lundin Gold’s “Risk Factors” section. Gold Annual Information Form dated March 21, 2022, available at www. lundingold. com or on SEDAR.
The actual effects of Lundin Gold may differ materially from those anticipated. Factors that may cause actual effects to differ materially from any forward-looking statements or that may materially value the Company or its inventory include: material threats to the Company’s network relationships; similar threats to the political and economic instskill in Ecuador; threats related to production, money flow and charge estimates; the effects of a pandemic virus outbreak; threats inherent to mining operations; the breach by the Company of its obligations under its lines of credit; shortage of essential supplies; control of the main shareholders of the Company; threats related to Lundin Gold’s compliance with environmental laws and its risk of environmental contamination; lack of infrastructure availability; the Company’s dependence on an unmarried mine; exploration and progression threats; threats related to the Company’s ability to obtain, maintain or renew regulatory approvals, permits and licenses; uncertainty with the tax regime in Ecuador; similar threats to the Company’s workforce and its difficult working relationships; volatility of the value of gold; the Company’s reliance on its data systems and the threat of cyber attacks on those systems; denomination defective or vulnerable to concessions, easements and surface rights; inherent security threats and threats to the fitness and protection of Company workers and contractors; inaccuracy of estimates of mineral reserves and resources; recruitment of key skills and retention of key personnel; the volatility of the market value of the Company’s shares; measures to protect endangered species and critical habitats; social networks and reputation; default charge and compliance charges; relevant threats with illegal mining; the adequacy of the Company’s insurance; threats similar to the declaration of dividends; uncertainty about recovery and decommissioning; Lundin Gold’s ability to ensure compliance with anti-bribery and anti-corruption laws; uncertainty related to the threats posed by climate change; disclosure limits and internal controls; threats to the security of the Company, its assets and its personnel; the threat of litigation; and threats due to conflicts of interest.
SOURCE Lundin Gold Inc.
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