Lundin Mining Announces Appointment of Maria Olivia Recart to Board of Directors
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NEWS RELEASE
Lundin Mining Announces Appointment of Maria Olivia Recart to Board of Directors
Toronto, March 23, 2023 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the
“Company”) is pleased to announce the appointment of Maria Olivia Recart to the Company’s Board of Directors (the
“Board”) effective today.
“We are excited to welcome Maria Olivia Recart to the Lundin Mining team and Board,” commented Adam Lundin, Chair of
Lundin Mining’s Board of Directors. Peter Rockandel, CEO, added, “Maria Olivia’s extensive knowledge , experience and
recognized contributions in Chile make for an ideal addition to our Board. Her wealth of expertise rooted in experience on
many environmental and social topics, including community engagement, government relations, sustainable supply chains
and social values will provide invaluable perspective.”
Most recently, Maria Olivia was the Dean of Universidad Santo Tomás from 2019 to 2023, prior to which, she worked at BHP
from 2010 to 2018 as Vice President (“VP”) Corporate Affairs. As VP of Corporate Affairs for BHP, she was responsible for
community engagement, communications , government relations and social value strategy for the Americas. During that
time, she also served as a member of the Owners' Council of BHP’s Escondida mine, where she advised on a range of
operational, safety, financial, commercial, human resources and strategy issues. She was also appointed as VP of the board
of directors of Fundación Chile, a mixed board composed of Chilean government officials and BHP appointed professionals;
VP of Centro de Entrenamiento Industrial y Minero, an apprentice learning center to promote the skills needed in the
workforce for productivity impact in mini ng and construction operations; and VP of Fundación Minera Escondida, a non -
profit organization in the region of Antofagasta whose initiatives are focused on making an impact in the region's human
and social capital and target minorities, the indigenous commu nities and women in particular. Maria Olivia also has
experience in the public sector in Chile, where she served as Vice Minister of Finance between 2006 and 2010 and was
responsible for the team that led Chile into the Organization for Economic Co-operation and Development.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with projects and operations in Argentina, Brazil, Chile,
Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.
The information in this rele ase is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse
Regulation. The information was submitted for publication, through the agency of the contact persons set out below on
March 23, 2023 at 16:30 Eastern Time.
For further information, please contact:
Mark Turner, Vice President, Business Valuations and Investor Relations: +1 416 342 5565
Irina Kuznetsova, Manager, Investor Relations: +1 416 342 5583
Robert Eriksson, Investor Relations Sweden: +46 8 440 54 40
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein is “forward -looking information” within the meaning of applicable Canadian securities
laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to
statements regarding the Company’s plans, prospects and business strategies; the Company’s guidance on the timing and amount of future production and
its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation;
the results of any Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine
and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the
Company’s Responsible Mining Management System; the Company’s ability to comply with contractual and permitting or other regulatory requirements;
anticipated exploration and development activities at the Company’s projects; the Company’s integration of acquisitions and any anticipated benefits thereof;
and expectations for other economic, business, and/or competitive factors. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”,
“goal”, “aim”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “can”, “could”, “should”, “schedule” and similar ex pressions identify forward -looking
statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectatio ns and beliefs of
management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, nickel,
zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in
which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors se t forth
below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management’s experience
and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward -looking
statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limi ted to: global financial
conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to
risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions,
and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; project financing risks, liquidity risks and limited
financial resources; volatility and fluctuations in metal and commodity demand and prices; delays or the inability to obtain, retain or comply with permits;
significant reliance on a single asset; reputation risks related to negative publicity with respect to the Company or the mining industry in general; health and
safety risks; risks relating to the development of the Josemaria Project; inability to attract and retain highly skilled employ ees; risks associated with climate
change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible infrastructure, infrastructure failures, and risks
related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging market s, including with respect to
foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Company’s operating jurisdictions, including
but not limited to those related to permitting and approvals, environmental and tailings management, labour, trade relations, and transportation; risks
relating to indebtedness; the inability to effectively compete in the industry; risks associated with acquisitions and relate d integration efforts, including the
ability to achieve anticipated benefits, unanticipated difficulties or expendi tures relating to integration and diversion of management time on integration;
changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance
on key personne l and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technol ogy and
cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits
including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates,
estimates of grade, tonnage, dilution, mine plans and metallurgic al and other characteristics; ore processing efficiency; community and stakeholder
opposition; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing
legal rights in foreign jurisdictions; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities;
activist shareholders and proxy solicitation matters; risks relating to dilution; regulatory investiga tions, enforcement, sanctions and/or related or other
litigation; risks relating to payment of dividends; counterparty and customer concentration risks; the estimation of asset carrying values; risks associated with
the use of derivatives; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties
with or shortages of labour or interruptions in production; conflicts of interest; existence of a significant shareholder; exchange rate fluctuations; challenges
or defects in title; internal controls; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers,
suppliers or employees, or the allegation of improper or discriminator y employment practices, or human rights violations; the threat associated with
outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate products; and other risks and uncertainties, including
but not limited to those described in the “Risk and Uncertainties” section of the Company’s Annual Information Form and the “Managing Risks” section of the
Company’s MD&A for the year ended December 31, 2022, which are available on SEDAR at www.sedar.com under the Company’s profile. All of the forward-
looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to
be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which
may have been used. 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 information. Accordingly, there can be no assurance that forward-looking information will prove to
be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking
information. The forward -looking information contained herein spea ks only as of the date of this document. The Company disclaims any intention or
obligation to update or revise forward ‐looking information or to explain any material difference between such and subsequent actual events, except as
required by applicable law.