Lundin Gold Achieves Key Milestones in Internet Connectivity Project to Support Education for Local Communities Near Fruta Del Norte
VANCOUVER, BC, June 7, 2021 / CNW / – Gold Lundin Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (“Lundin Gold” or the “Company”) is pleased to report on its initiative to provide essential access to online education for students from rural communities near its Fruta del Norte (“FDN”) mine in Ecuador, who have not been to school since the start of the COVID-19 pandemic.
the Estamos Conectados The project, which was launched in early 2021, improves internet infrastructure and provides teachers and children enrolled in local schools with the training and equipment needed to facilitate online learning. Since March 2020, local schools have been closed due to the COVID-19 pandemic and, as a result, children are challenged to learn remotely in communities where the local internet infrastructure is weak or nonexistent and without appropriate equipment for access the internet. The project includes the establishment of an optical fiber connection for the rural communities of the parish of Los Encuentros, free Wi-Fi access points in each of the communities, special connections for communities where the optical fiber is not viable, internet for the Los Encuentros school, the purchase and distribution of 1,370 tablets for students, other infrastructure improvements and the support and training of teachers to support distance learning .
Marking an important milestone in the project, the 1,370 tablets have now been distributed to students in the parish of Los Encuentros as well as to several other rural communities close to FDN. The Internet service of the “Unidad Educativa del Milenio 10 de Noviembre” (UEM) school in Los Encuentros has been increased by 50 Mbps, allowing 73 teachers to work virtually with students during the ongoing COVID-19 pandemic. The installation of fiber optic infrastructure to provide improved Internet service to these communities, benefiting nearly 1,000 families, is well advanced, and the establishment of free Wi-Fi Internet access points in 21 communities. is now complete.
Ron Hochstein, President and CEO, said: “Education is an essential pillar of Monday Gold’s sustainable development strategy, and the Estamos Conectados project strengthens the education system in communities close to FDN. By launching the Estamos Conectados project, Gold Lundin, the Lundin Foundation and our partners have a common vision to ensure that educational opportunities are available for local youth despite the challenges posed by the pandemic. Collectively, our organizations have contributed over $ 600,000 nowadays. In collaboration with local education authorities, national government and local stakeholders, we will continue to seek opportunities to facilitate the delivery and improve the quality of local education, especially in the area of influence of FDN.“
Gold Lundin is very grateful to the many partners who have committed to supporting this connectivity project through the Lundin Foundation. In particular, the Company would like to thank the Bank of New Scotland, Blake, Cassels & Graydon LLP, BMO Capital Markets, Boliden AB, ING Capital LLC, Natixis and Norton Rose Fulbright for their generous contributions.
About Gold Lundin
Gold Lundin, headquartered at Vancouver, Canada, owns the Fruta del Norte gold mine in the southeast Ecuador. Fruta del Norte is one of the highest grade operating gold mines in the world.
The Company’s board of directors and management team have extensive mining expertise and are dedicated to the responsible operation of Fruta del Norte. The Company operates in full transparency and in accordance with international best practices. Gold Lundin is committed to delivering value to its shareholders, while simultaneously delivering economic and social benefits to affected communities, promoting a healthy and safe workplace and minimizing environmental impact. The Company believes that the value created by the development of Fruta del Norte will benefit its shareholders, government and citizens of Ecuador.
This information was publicly released on June 7, 2021 at 3:00 p.m. Pacific Time via the contact persons indicated below.
Caution regarding forward-looking information and statements
Certain information and statements contained in this press release are considered “forward-looking information” or “forward-looking statements” as such terms are defined in Canadian securities laws (collectively, “forward-looking statements”). Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions or future events or performance (often, but not always, identified by words or phrases such as that “believes”, “anticipates”, “expects”, “is expected”, “expected”, “estimates”, “pending”, “is considering”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of those words and expressions or statements that certain actions, events or results “may”, “could”, “would be”, “will”, “should”, “could”, “will be taken” , or “occur” and expressions made 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 generally beyond the control of the Company. direction, who could enter result in actual results that differ materially from those expressed by these forward-looking statements. -the forward-looking statements and information. Gold Lundin believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that such expectations will prove to be correct. You should not place undue reliance on forward-looking information. 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 press release contains forward-looking information in several places, such as in statements relating to the completion of the Estamos Conectados project and the benefits thereof. There can be no assurance that these statements will prove to be correct, as Monday Gold’s actual results and future events could differ materially from those anticipated in this forward-looking information due to the factors described in the “Risk factors” section in Monday Gold’s Annual Information Form dated March 2, 2021, available on www.lundingold.com or on SEDAR.
Monday Gold’s actual results could differ materially from those anticipated. Factors which could cause actual results to differ materially from any forward-looking statement or which could have a material impact on the Company or the price of its shares include: risks related to the impacts of a pandemic virus outbreak, political and economic instability in Ecuador, production estimates, mining operations, the Company’s community relations, the ability to maintain its obligations or comply with the debt, financing needs, volatility in the price of gold, shortages of critical supplies, compliance with environmental laws and liability for environmental contamination, lack of availability of infrastructure, dependence of the Company on a single mine, titles insufficient or vulnerable concessions, easements and surface rights, uncertainty regarding the tax regime in Ecuador, the Company’s workforce and labor relations, inherent safety hazards and risks to health and safety of the Company’s employees and contractors, the Company’s ability to obtain, maintain or renew regulatory approvals, permits and licenses, imprecision of estimates of mineral reserves and resources, recruitment of key talent and retention of key personnel, volatility of the market price of shares, potential influence of major shareholders of the Company, measures of protection of threatened species and critical habitats, the Company’s dependence on its information systems and the risk of cyber attacks on these systems, the cost of non-compliance and compliance the costs, risks exploration and development, risks associated with illegal mining, adequacy of the Company’s insurance, uncertainty as to reclamation and decommissioning, ability to Gold Lundin to ensure compliance with anti-corruption and anti-corruption laws, uncertainty regarding the risks posed by climate change, the potential for litigation, disclosure limits and internal controls, security risks for the Company, its assets and its personnel, conflicts of interest, risks of the Company not declaring dividends, social media and reputation.
Figure 1: 1,370 tablets were distributed to students in FDN’s area of influence. The tablets will facilitate online learning in communities where schools have been closed due to the COVID-19 pandemic.