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LUGDF
Lundin Gold Inc.

Ordinary Shares
Lundin Gold Inc. Company Logo

Suite 2800, Four Bentall Centre

1055 Dunsmuir Street

Vancouver, BC V7X 1L2

Canada

Business Description
Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.
Financial Reporting
Reporting Status
International Reporting: Toronto Stock Exchange
Audited Financials
Audited
CIK
0001452389
Fiscal Year End
12/31
Company Officers & Contacts
Ron F. Hochstein
CEO, President

Ron Hochstein, P.Eng., is currently President and Chief Executive Officer of Lundin Gold Inc. and Chairman of Montage Gold Corp. Mr. Hochstein served as Executive Chairman of Denison Mines Corp. in 2015 and as President and Chief Executive Officer from 2009 to 2015. Prior to that, Mr. Hochstein served as President and Chief Operating Officer when International Uranium Corporation ("IUC") and Denison Mines Inc. combined to form Denison Mines Corp. in 2006, before which he had served as President and Chief Executive Officer of IUC. Earlier in his career, Mr. Hochstein was a Project Manager with Simons Mining Group and was with Noranda Minerals as a metallurgical engineer. Mr. Hochstein is a Professional Engineer and holds an M.B.A. from the University of British Columbia and a B.Sc. from the University of Alberta.

Terry Smith
COO

Terry Smith COO Terry Smith joined Lundin Gold as Chief Operating Officer in March of 2023. He is a mining engineer with over 20 years of varied experience in operations, capital projects, engineering studies and business development. Previously, Terry has worked for mining companies that include Coeur Mining, Barrick, and Teck with projects in Canada, USA, Africa, and Latin America. During his tenure with Coeur Mining, he helped drive safety performance to industry lows as well as improving production, reducing costs, and extending mine life. Terry is a Professional Engineer with the Association of Professional Engineers and Geoscientists in British Columbia and a graduate from Laurentian Engineering University with a degree in Mining Engineering.

Chester See
CFO

Chester has held positions of increasing responsibility in a number of publicly traded companies during his career, including three years at Western Coal Corp., where he served as Manager, Financial Reporting & Treasury at the time of its $3.3 billion acquisition by Walter Energy Ltd. in 2011. From 2011 to 2013, he served as Financial Controller for Lucara Diamond Corp. and CFO of NGEx Resources Inc. from 2014 to 2016. Prior to his involvement in the mining industry, Chester spent three years in public accounting with PricewaterhouseCoopers, working with a diverse client base both in Canada and internationally. He is a graduate of the University of British Columbia with a B. Comm. (Accounting) and is a member of the Chartered Professional Accountants of British Columbia.

Brendan J Creaney
VP, Corp. Dev., IR

Andre Oliveira
VP, Exploration

Andre Oliveira joined Lundin Gold as Vice President, Exploration in March 2022. Andre is a Professional Geologist and has over 20 years of experience in all stages of gold and base metals exploration in South America. Andre was employed by Yamana Gold for more than 17 years and held the roles of Senior Geologist, Manager, Country Director, and ultimately as South America Senior Director, where was directly involved in the exploration success of several producing mines and in the generation of new early-stage exploration projects. Earlier in his carrier, Andre was an exploration geologist at Anglo Gold Ashanti's Crixas gold mine and Regional Exploration Geologist at De Beers. Andre is a registered Professional Geoscientist in the Province of Ontario, holds a Bachelor of Geology from the University of Sao Paulo and is currently completing an MBA in International Mineral Resources Management at the University of Dundee in the UK. Andre is a Qualified Person under National Instrument 43-101.

Sheila Coleman
VP, Legal

Avalon E Johnson
Legal Asst.

Board of Directors
Jack Lundin
Chairman

Jack Lundin is currently the President and Chief Executive Officer of Bluestone Resources Inc., a Canadian mining company that owns the Cerro Blanco gold project in Guatemala. Prior to joining Bluestone Resources, Jack was involved in the successful construction of Lundin Gold Inc.’s Fruta del Norte Gold Mine in southern Ecuador where he served as the Project Superintendent from 2016 to 2019. Jack began his career in the sector working prospecting jobs on various early-stage projects in Canada, Russia, Ireland and Portugal. After graduating, he worked as a commercial analyst for Lundin Norway AS., a subsidiary of Lundin Petroleum AB. Jack holds a Bachelor of Science degree in Business Administration from Chapman University and a Master of Engineering degree in Mineral Resource Engineering from the University of Arizona. He currently sits on the Board of several publicly traded companies and is Chairman of Lundin Gold.

Carmel Daniele
Independent Director, Compensation Committee Member

Ms. Daniele is the founder and Chief Investment Officer of CD Capital Management Group Ltd., the fund manager of a number of private equity and mining funds, since 2006. She has over 25 years of natural resources investment experience, 10 years of which were spent with Newmont Mining/Normandy Mining where she was involved in the acquisition of various companies including LaSource SAS (a joint venture between BRGM and Normandy Mining). As Senior Executive (Corporate Advisory) at Newmont, Ms. Daniele structured cross-border mergers and acquisitions including the $24 billion three-way merger between Franco-Nevada, Newmont and Normandy Mining to create the largest gold company in the world. Post-merger, she structured the divestment of various non-core mining assets around the world for the merchant banking arm of Newmont. Ms. Daniele started her career at Deloitte Touche Tohmatsu where she spent eight years in various corporate finance roles including international taxation, audit, accounting and reconstructions. Prior to the founding of CD Capital UK Ltd., she spent a year and a half as an investment advisor to a London based Special Situations Fund on sourcing and negotiating natural resource private equity investments. Ms. Daniele holds a Master of Laws (Corporate & Commercial) and Bachelor of Economics from the University of Adelaide and is a Fellow of the Institute of Chartered Accountants.

Gillian Davidson
Independent Director, Nominating Committee Member

Dr. Davidson has 20 years of experience as an internal and external advisor to companies and other organizations regarding sustainability, ESG and responsible supply chains. Most recently, Dr. Davidson was the Head of Mining and Metals for the World Economic Forum from 2014 to 2017, where she led global and regional engagement and multi-stakeholder initiatives to advance responsible and sustainable mining. From 2008 to 2014, she was Director of Social Responsibility at Teck Resources Limited and prior held roles related to community development, environment and natural resources as a consultant and in government. Dr. Davidson has an Honours Master of Arts in Geography from the University of Glasgow, a PhD in Development Economics and Geography from the University of Liverpool and is an alumna of the Governor General of Canada's Leadership Conference. Dr. Davidson is the chair of International Women in Mining. Dr. Davidson's principal occupation is as an independent sustainability advisor.

Ian Gibbs
Independent Director, Audit Committee Member, Compensation Committee Member, Nominating Committee Member

Ian Gibbs previously served as CFO of Filo Corp., where he helped guide the company to its recent C$4.5 billion transaction with BHP and Lundin Mining. Mr. Gibbs also served as CFO for Josemaria Resources Inc., which was purchased by Lundin Mining in 2022. Prior to his role at Josemaria, he served as CFO of Africa Oil Corp., a TSX and Nasdaq Stockholm-listed Canadian oil and gas company with assets in Nigeria, Kenya, and Ethiopia. Previously, Mr. Gibbs was CFO of Tanganyika Oil, where he played a pivotal role in the sale of the company to Sinopec International Petroleum for $2 billion. Before Tanganyika Oil, Mr. Gibbs was CFO of Valkyries Petroleum, which was the subject of a $750 million takeover. Mr. Gibbs serves on several Lundin Group boards, including Lundin Gold Inc. since its inception in 2014. Mr. Gibbs. is a Canadian Chartered Professional Accountant and a graduate of the University of Calgary, where he obtained a Bachelor of Commerce degree.

Melissa Harmon

Ms. Harmon has more than two decades of experience in gold mining, including executive level operational and technical roles with Newmont Corporation including Vice President - Productivity, General Manager Cripple Creek & Victor, General Manager Operations Services and General Manager Twin Creeks. She is currently the Group Head, Joint Ventures for Newmont Corporation. Ms. Harmon is a leader in safety and diversity, equity and inclusion and has received numerous awards for contributions to the mining industry in these areas, including being awarded Miner of the Year by the Society of Mining, Metallurgy & Exploration. Ms. Harmon holds a Bachelor of Science in Mine Engineering from the University of Nevada, Reno where she also serves on several executive boards and a Masters of Business Administration from Auburn University. She is a registered Professional Engineer in the United States.

Ashley Heppenstall
Independent Director, Audit Committee Member, Compensation Committee Member, Nominating Committee Member

Ashley Heppenstall is a corporate director with over 30 years of experience in the oil and gas and resource sectors. He currently serves on the board of directors of four other public mining, oil and gas, and renewable energy companies. From 2002-2015, Mr. Heppenstall served as the President, Chief Executive Officer of Lundin Petroleum AB, an oil and gas exploration and production company with core assets in Norway. Early in his career, Mr. Heppenstall worked in the banking sector where he was involved in project financing of oil and resource sector businesses. Mr. Heppenstall holds a degree in Mathematics from Durham University.

Ron F. Hochstein
CEO, President

Ron Hochstein, P.Eng., is currently President and Chief Executive Officer of Lundin Gold Inc. and Chairman of Montage Gold Corp. Mr. Hochstein served as Executive Chairman of Denison Mines Corp. in 2015 and as President and Chief Executive Officer from 2009 to 2015. Prior to that, Mr. Hochstein served as President and Chief Operating Officer when International Uranium Corporation ("IUC") and Denison Mines Inc. combined to form Denison Mines Corp. in 2006, before which he had served as President and Chief Executive Officer of IUC. Earlier in his career, Mr. Hochstein was a Project Manager with Simons Mining Group and was with Noranda Minerals as a metallurgical engineer. Mr. Hochstein is a Professional Engineer and holds an M.B.A. from the University of British Columbia and a B.Sc. from the University of Alberta.

Scott Langley

Mr. Langley currently serves as Group Head, Corporate Development at Newmont Corporation. Prior to joining Newmont in 2022 he spent over 15 years working in investment banking in the metals and mining sector, at both National Bank Financial and Bank of America, and was most recently Managing Director, Head of North American Metals & Mining for Bank of America. Mr. Langley has worked on many capital markets and M&A transactions, including acting as financial advisor to Agnico Eagle on its 2021 merger transaction with Kirkland Lake Gold. Mr. Langley holds a Masters of Business Administration from The Richard Ivey School of Business, and a Bachelor of Commerce from Queens University.

Angelina Mehta

Ms. Mehta has over 20 years of experience in the fields of finance and engineering and is currently working as General Manager of Joint Ventures at Rio Tinto Aluminium. She was previously Director, Mining Investment Banking at Laurentian Bank Securities Inc. and Senior Mining Advisor in Investment Banking with Paradigm Capital Inc., as well as Vice President of Operations for North American Nickel. Over the years, she served as Investment Manager for Sentient Asset Management Canada and held various operational positions for multiple mining companies, including Rio Tinto's joint venture Iron Ore Company of Canada. Ms. Mehta holds a Bachelor's degree in mining engineering and an MBA from McGill University, as well as a Master of Law degree from the Osgoode Hall Law School of York University. She has completed the ICD - Director Education Program.

Other Company Insiders

None

Other Company Insiders are all persons or entities beneficially owning 10% or more of any class of the issuer's securities. Together, officers, directors and other company insiders comprise Company Insiders.
Service Providers
Accounting/Auditing Firm
PWC LLP - Vancouver, British Columbia (Canada)

1400 - 250 Howe Street

Vancouver, BC V6C 3S7

Canada

Profile Data
SIC - Industry Classification
Not Available
Incorporation Information
BC, CA, 1986
Employees
1,880 as of 12/31/2023
Shell
No
Products and Services

Gold concentrate and doré producer

Company Facilities

Headquarters: Suite 2800, Four Bentall Centre, 1055 Dunsmuir Street, Vancouver, B.C. V7X 1L2. Ownership: Leased

Company Notes
Sponsored by Troutman Pepper Hamilton Sanders LLP for QX on June 27, 2022
Formerly=Fortress Minerals Corp. until 12-2014
OTCQX Best 50 Logo
Joined OTCQX 06/2022
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