The Lundin Gold Inc. website contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to as "forward-looking statements"). Forward-looking statements include possible events, statements with respect to possible events, the future price of gold or silver, the estimation of mineral resources, the economic potential of a mineralized area, the size and tonnage of a mineralized area, anticipated sample grades, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, expected capital expenditures, costs and timing of the development of new deposits, success of exploration, development and mining activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations and government approvals, environmental risks, unanticipated reclamation expenses, title disputes or claims, timing of completion of technical reports and studies, limitations on insurance coverage and completion of transactions. The words "pro forma", "plans", "expects", "is expected", "scheduled", "estimates", "forecasts", "targets", "intends", "anticipates", or "hopes", "believes", 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 identify forward-looking statements.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The estimates and assumptions of Fortress contained in the website which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein as well as: the accuracy of management's assessment of the effects of the successful completion of the acquisition of the Fruta del Norte project and resulting reorganization; the accuracy of the mineral resource estimates for the Fruta del Norte Project; timing and success of permitting, development, construction and operation of the Fruta del Norte Project; the viability, permitting and development of the Fruta del Norte Project being consistent with Lundin Gold's current expectations; the feasibility study to be prepared for the Fruta del Norte Project, including geological, mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors, and permitting, being consistent with Lundin Gold's current expectations; the viability of the Fruta del Norte Project on a basis consistent with Lundin Gold's and Aurelian's current expectations; the trading price of the Lundin Gold shares; there being no significant political developments, whether generally or in respect of the mining industry specifically, in Ecuador or in any other jurisdiction in which Lundin Gold now or in the future carries on business; that exchange rates are approximately consistent with current levels; certain price assumptions for gold and silver; prices for fuel oil, electricity and other key supplies remaining consistent with current levels; production forecasts meeting expectations; labour and materials costs increasing on a basis consistent with Lundin Gold's current expectations; that the information available to Lundin Gold in respect of the Fruta del Norte Project is accurate and complete; and that title to the Fruta del Norte Project is not subject to prior unregistered agreements, transfers or claims or any other defects.
Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to:
- risks and uncertainties relating to the acquisition of the Fruta del Norte project, such as the Company's ability to successfully explore and develop the Project and realize the anticipated benefits of the acquisition;
- risks and uncertainties relating to the reorganization of the Company resulting from the acquisition and the events related thereto and contingent thereon;
- risks and uncertainties relating to financing the Company;
- risks related to foreign operations and the mining, tax and regulatory regime in Ecuador;
- risks and uncertainties relating to the estimated cash costs and timing of exploration and development activities, cost estimates, foreign currency fluctuations and commodity price fluctuations;
- risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding;
- risks associated with the estimation of mineral resources and ability to upgrade to mineral reserves and the geology, grade and continuity of mineral deposits;
- the possibility that future exploration and development results will not be consistent with the Company's expectations;
- the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour;
- uncertain political and economic environments and the relationships with local communities and artisanal miners;
- changes in laws or policies, foreign taxation, foreign investment regimes, or delays or the inability to obtain necessary governmental permits, licenses and regulatory approvals; and
- litigation risks.
Forward-looking information may also be based on other various assumptions including, without limitation:
- the expectations and beliefs of management;
- the assumed long term price of gold or silver; and
- that the Company can access financing, appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the exploration, development and operation of mining projects.
In addition, there are risks and hazards associated with the business of gold and silver exploration, development and mining, including, but not limited to, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold or silver bullion losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect Lundin Gold's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Lundin Gold.
Certain of these risks are discussed in the section entitled "Risk Factors" in this Circular. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors. Readers are cautioned not to place undue reliance on forward-looking statements and the Company disclaims any obligation to update or revise forward-looking statements if circumstances or management's beliefs, expectations, or opinions should change, except as required by law.