Mr. Brendan Creaney reports

LUNDIN GOLD INC. ANNOUNCES DISTRIBUTION OF COMMON SHARES OF LUNR ROYALTIES CORP.

Lundin Gold Inc. has distributed 50,505,051 common shares of Lunr Royalties Corp. to Lundin Gold shareholders as of the record date of June 4, 2026, by way of a dividend in kind. The consideration shares were acquired on May 28, 2026, pursuant to the previously announced silver stream agreement entered into with Lunr. Concurrently with entering into the silver purchase agreement, Lundin Gold and Lunr entered into an agreement dated April 2, 2026, pursuant to which, among other things, Lundin Gold agreed to distribute the consideration shares to Lundin Gold shareholders by way of the distribution.

Immediately prior to the distribution, Lundin Gold held 50,505,051 common shares of Lunr, representing approximately 41.78 per cent of the issued and outstanding common shares of Lunr on a non-diluted basis. Pursuant to the distribution agreement, Lundin Gold disposed of its entire position in Lunr through the distribution. Immediately following the distribution, Lundin Gold holds no common shares of Lunr and is not a "control person" of Lunr within the meaning of applicable securities laws. As a result, Lundin Gold is no longer subject to early warning reporting requirements in respect of Lunr. Lundin Gold has no current intention to acquire additional securities of Lunr.

This news release is being issued pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report with additional information in respect of the foregoing matters has been filed contemporaneously under Lunr's profile on SEDAR+ and may be obtained by contacting Lundin Gold via info@lundingold.com.

About Lundin Gold Inc.

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeastern Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.

The company's board and management team have extensive expertise 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 through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing the environmental impact. Furthermore, Lundin Gold is focused on continued exploration on its extensive and highly prospective land package to identify and develop new resource opportunities to ensure long-term sustainability and growth for the company and its stakeholders.

About Lunr Royalties Corp.

Lunr is an emerging royalty and streaming company based in Canada, focused on building and managing a portfolio of high-quality mining royalty and stream interests to create meaningful and lasting value for stakeholders.

Lunr owns a producing silver stream on Lundin Gold's Fruta del Norte mine and net smelter return royalties on NGEx Minerals' Vicuna district exploration projects, Lunahuasi and Los Helados.

Lunr's head office is located at Suite 2800, Four Bentall Centre, 1055 Dunsmuir St., Vancouver, B.C., V7X 1L2.

We seek Safe Harbor.