Lundin Mining Announces Declaration of Dividend

NEWS RELEASE

Lundin Mining Announces Declaration of Dividend

Toronto, April 24, 201 9 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin

Mining” or the “Company”) today announced that its Board of Directors has declared a dividend of

CAD$0.03 per share, payable on June 19, 2019, to shareholders of record at the close of business on

May 31, 2019. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. The

declaration, timing, amount and payment of future dividends remain at the discretion of the Board of

Directors.

Dividends on shares traded on the Toronto Stock Exchange (“TSX”) will be paid in Canadian Dollars

(“CAD”) on June 19, 2019.

Dividends on shares traded on Nasdaq Stockholm will be paid in Swed ish kronor (“SEK”) in accordance

with Euroclear principles on June 20, 2019. To execute the payment of the dividend, a temporary

administrative cross -border transfer closure will be applied by Euroclear from and including May 29,

2019 up to and including May 31, 2019 during which period shares of the Company cannot be

transferred between TSX and Nasdaq Stockholm.

Notice to all Non-Canadian Resident Shareholders

In 2012, the Canada Revenue Agency (“CRA”) changed how the tax withholding rate applied to div idend

payments made to non-residents is determined. The CRA now requires a certification of residency from

each shareholder so that the preferred tax treaty rate can be applied where applicable to person’s

resident in countries which have a tax treaty with Canada.

Shares traded on Toronto Stock Exchange

Form NR301 will be mailed to any new Registered non -resident shareholders as at the dividend record

date (May 31, 2019), by Computershare Investor Services Inc. In order to receive the preferred treaty

rate, you must complete and mail back the form as soon as possible. Failure to supply a completed

NR301 form will result in Computershare withholding the statutory 25% withholding tax rate on any

payments to Registered non -resident shareholders. You can also download the form at

https://cda.computershare.com/Content/4f677775-5e6c-4e64-a695-a5785771fec3. Instructions on how

to correctly complete the NR301 are on the bac k of the form. Shareholders who hold their shares

through a broker should contact their broker directly. They do not need to return a form to

Computershare. If you have already completed Form NR301, you do not need to complete a new form.

Shares traded on Nasdaq Stockholm

Dividend payments will be made net of 25% Canadian withholding tax and any other deemed applicable

country of residence tax. Holders who are entitled to reclaim taxes applicable under tax treaties should

contact the applicable tax author ities, directly. Shareholders who hold their shares through a nominee

should contact their nominee.

Corporate Office

150 King Street West, Suite 2200

P.O. Box 38

Toronto, ON M5H 1J9

Phone: +1 416 342 5560

Fax: +1 416 348 0303

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.

The content contained herein is not tax advice. Do not use or otherwise rely upon any of the content

without first seeking independent tax advice.

The information was submitted for publication, through the agency of the contact persons set out below

on April 24, 2019 at 6:50 p.m. Eastern Time.

For further information, please contact:

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

Brandon Throop, Manager, Investor Relations: +1 416 342 5583

Robert Eriksson, Investor Relations Sweden: +46 8 440 54 50

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein, other than statements of histo rical

fact and historical information , is “forward -looking information” within the meaning of applicable

Canadian securities laws. Such statements include, but are not limited to, payment of the dividend and

declaration of future dividends, and timing and amount thereof. 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 an d 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.