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2017-10-20

Lundin Mining Announces Early Redemption of its Senior Secured 2020 Notes

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Lundin Mining Announces Early Redemption of its Senior Secured 2020 Notes

October 20, 2017 (TSX: LUN; OMX: LUMI) Lundin Mining Corporation (“Lundin
Mining” or the “Company”) today announces that it has issued a notice to redeem
all of its 7.50% Senior Secured Notes due 2020 (the "Notes") on November 20,
2017 at the redemption price of 103.750% of the principal amount of the Notes
plus accrued and unpaid interest. There is $550 million principal amount of the
Notes currently outstanding. The early redemption of the 2020 Notes will save
the Company $41.25 million per annum in interest payments.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with
operations in Chile, the United States of America, Portugal, and Sweden,
primarily producing copper, nickel and zinc. In addition, Lundin Mining holds
an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which
includes a cobalt refinery located in Kokkola, Finland.

The information in this release is subject to the disclosure requirements of
Lundin Mining under the EU Market Abuse Regulation and the Swedish Securities
Market Act. This information was publicly communicated on October 20, 2017 at
2:00 a.m. Eastern Time.

For further information, please contact:

Mark Turner, Director, Business Valuations and Investor Relations:
+1-416-342-5565

Sonia Tercas, Senior Associate, Investor Relations: +1-416-342-5583

Robert Eriksson, Investor Relations Sweden: +46 8 545 015 50

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein, other than
statements of historical fact and historical information, is “forward-looking
information” within the meaning of applicable Canadian securities laws. Such
statements include, but are not limited to, redemption of the Senior Secured
2020 Notes. Words such as “if”, “will be”, “may” and “schedule”, or variations
of these terms or similar terminology or statements that certain actions,
events or results “could” occur or be achieved are intended to identify such
forward-looking information. Although the Company believes that the
expectations reflected in the forward-looking information contained herein are
reasonable, these statements by their nature involve risks and uncertainties,
and are not guarantees of future performance. Forward-looking information is
based on a number of assumptions, and subject to a variety of risks and
uncertainties which could cause actual events or results to differ from those
reflected in the forward-looking statements. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers should not to place undue
reliance on forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward?looking statements or to explain any
material difference between subsequent actual events and such forward? looking
statements, except to the extent required by applicable law.

Författare Nasdaq Stockholm

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