Lundin Mining Announces Approval of Swedish Prospectus for Listing Shares Directly on Nasdaq Stockholm

1

NEWS RELEASE

Lundin Mining Announces Approval of Swedish Prospectus for

Listing Shares Directly on Nasdaq Stockholm

Toronto, May 31, 2017 (TSX: LUN; OMX: LUMI) Lundin Mining Corporation (“Lundin Mining” or the

“Company”) is pleased to announce that it has obtained the approval and registration with the Swedish

Financial Supervisory Authority (the “FSA”) of a prospectus (the “Swedish Prospectus”), which has been

filed on the Company’s website at www.lundinmining.com.

The Swedish Prospectus was prepared and filed in order to permit the admission to trading of the

Company’s shares directly on Nasdaq Stockholm following the conversion of Swedish Depository

Receipts (“SDRs”) to shares. Following this conversion process, the Company’s shares will be dual listed

on TSX and Nasdaq Stockholm. No new shares are being issued by the Company in connection with the

Nasdaq Stockholm listing or in connection with the Swedish Prospectus.

In accordance with the Company’s previous announcement, the record date for the conversion of the

SDRs in the Swedish VPC register shall be June 9, 2017. Pareto Securities AB will, in accordance with the

VPC plan for conversion of securities, deliver the underlying shares of the Company to the holders of the

SDRs entitled to receive such shares. Holders of the SDRs do not need to take any action as all SDRs will

be converted automatically to shares of the Company. Further information on the SDR conversion

procedure can be found in the Swedish Prospectus.

The first day of trading of shares on Nasdaq Stockholm is expected to be June 8, 2017. The last day of

trading of the SDRs is expected to be June 7, 2017. The trading symbol for the shares on Nasdaq

Stockholm will be “LUMI”.

The shares underlying the SDRs are expected to be credited on June 12, 2017, after which Euroclear

Sweden AB (“Euroclear”) will send out account statements to those who held SDRs on the Record Date

and received shares on owner registered accounts (Sw. VP-accounts). Those who have their holdings

registered with a bank or other nominee will receive information in accordance with each nominee’s

procedures.

To execute the above, a halt for cross border transfers will be applied from and including June 5, 2017

from which date shares cannot be deposited with Pareto and deposited shares cannot be withdrawn.

Accordingly, from and including June 5, 2017 a shareholder on the TSX cannot deposit their shares with

Pareto for trading in SDRs on the Nasdaq Stockholm and a SDR holder cannot withdraw their underlying

shares from Pareto for trading on the TSX.

Following the SDR conversion, cross border trades will take place via Euroclear. The first possible day for

cross border trades in shares is expected to be June 12, 2017. Holders of shares are advised to contact

their nominee or bank.

Corporate Office

150 King Street West, Suite 1500

P.O. Box 38

Toronto, ON M5H 1J9

Phone: +1 416 342 5560

Fax: +1 416 348 0303

2

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% equity stake in the Freeport Cobalt Oy business, which includes a cobalt

refinery located in Kokkola, Finland.

On Behalf of the Board,

Paul Conibear

President and CEO

This is information that Lundin Mining Corporation is obliged to make public pursuant to the EU Market

Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for

publication, through the agency of the contact persons set out below on May 31, 2017 at 6:00 p.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,

listing of the common shares on Nasdaq Stockholm (including timing thereof), and the conversion and delisting of the SDRs from the

Nasdaq Stockholm (including timing thereof) . Words such as “expect”, “plan”, “shall”, and “will” , or variations of these terms or similar

terminology or statements that certain actions, events or results could , shall or will 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 natur e involve risks , uncertainties and contingencies, and are not guarantees of future

performance. Forward -looking information is based on a number of assumptions, and subject to a variety of risks , uncertainties and

contingencies which could cause actual eve nts or results to differ from those reflected in the forward -looking statements. Such risks ,

uncertainties and contingencies include, without limitation, delays encountered with the Nasdaq Stockholm and other regulatory

authorities in Sweden, changes in la ws or policies, foreign taxation, delays or the inability to obtain necessary governmental/regulatory

approvals (including the approval of the listing prospectus), as well as other risks, uncertainties and contingencies including but not limited

to those d escribed in the Risks and Uncertainties section of the Company’s most recently filed Annual Information Form and in the

Managing Risks section of each of the Company’s management discussion and analysis. Should one or more of these risks , uncertainties

and contingencies materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described

in forward-looking statements. Accordingly, readers are advised 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.