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2016-04-08

LUNDIN GOLD RESPONDS TO MARKET ACTIVITY

IN GOLD RESPONDS TO MARKET ACTIVITY

April 8, 2016 (Vancouver, Canada)… Lundin Gold Inc. ("Lundin Gold" or the
"Company") (TSX: “LUG”, Nasdaq Stockholm: “LUG”), in response to a request by
Market Surveillance (IIROC), today confirmed that it is not aware of any
material, undisclosed information related to the Company or its Fruta del Norte
gold project in Ecuador that would account for the recent increase in the
market price and level of trading activity of its shares.

The information in this release is subject to the disclosure requirements of
Lundin Gold under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated
on April 8, 2016 at 10:30 a.m. Pacific Time.

About the Company:

Lundin Gold Inc. owns the Fruta del Norte ("FDN") gold project located in
southeast Ecuador. FDN is one of the largest and highest grade undeveloped
gold projects in the world. The Company is advancing FDN in order to realize
the significant potential of this asset and is currently working on the FDN
feasibility study scheduled to be completed in Q2 2016.

The Company believes that the value created will not only greatly benefit
shareholders, but also the Government and people of Ecuador who are the
Company's most important stakeholders in this project. Lundin Gold views its
commitment to corporate social responsibility as a strategic advantage that
enables it both to access and effectively manage business opportunities in
increasingly complex environments. Lundin Gold is committed to addressing the
challenge of sustainability - delivering value to its shareholders, while
simultaneously providing economic and social benefits to impacted communities
and minimizing its environmental footprint.

For more information, please contact

Lundin Gold Inc.

Ron F. Hochstein

President and CEO

593 2-299-6400

604-806-3589

Lundin Gold Inc.

Sophia Shane

Corporate Development

604-689-7842

604-689-4250 (FAX)

info@lundingold.com

www.lundingold.com

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 MD&A contains forward-looking information in a number of places, such as
in statements pertaining to: completion of the feasibility study for the Fruta
del Norte Project, exploration and development expenditures and reclamation
costs, the negotiation and signing of the investment protection agreement and
signing of the exploitation agreement with the government, exploration plans,
timing and success of permitting and regulatory approvals, future sources of
liquidity, capital expenditures and requirements, expectations of market prices
and costs, development, construction and operation of the Fruta del Norte
Project, future tax payments and rates, cash flows and their uses and estimates
of Mineral Resources.

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 14, 2016 available at www.sedar.com.

Lundin Gold’s actual results could differ materially from those anticipated.
Management has identified the following risk factors which could have a
material impact on the Company or the trading price of its shares: the ability
to arrange financing, the timely receipt of regulatory approvals, permits and
licenses, risks related to carrying on business in an emerging market such as
possible government instability and civil turmoil and economic instability,
measures required to protect endangered species, deficient or vulnerable title
to mining concessions and surface rights; the potential for litigation;
volatility in the market price of the Company’s shares; the risk to
shareholders of dilution from future equity financings; the cost of compliance
or failure to comply with applicable laws; difficulty complying with changing
government regulations and policies, including without limitation, compliance
with environment, health and safety regulations; illegal mining; uncertainty as
to reclamation and decommissioning liabilities, unreliable infrastructure and
local opposition to mining; the accuracy of the Mineral Resource estimates for
the Fruta del Norte Project and the Company’s reliance on one project;
volatility in the price of gold; shortages of resources, such as labour, and
the dependence on key personnel; the Company’s lack of operating history in
Ecuador and negative cash flow; the inadequacy of insurance; potential
conflicts of interest for the Company’s directors who are engaged in similar
businesses; limitations of disclosure and internal controls; and the potential
influence of the Company’s largest shareholders.

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