Lundin Mining Announces Updated Share Capital and Voting Rights

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

lundinmining.com

NEWS RELEASE

Lundin Mining Announces Updated Share Capital and Voting Rights

Toronto, January 31, 2022 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining”

or the “Company”) reports the following updated share capital and voting rights, in accordance with the Swedish

Financial Instruments Trading Act:

The number of issued and outstanding shares of the Company has increased by 768,800 to 735,755,954 common

shares with voting rights as at January 31, 2022. The increase in the number of issued and outstanding shares

from January 1, 2022 to date is a result of the exercise of employee stock options or the vesting of employee

share units.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations in Brazil, Chile, Portugal,

Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this release is subject to t he disclosure requirements of Lundin Mining under the Swedish

Financial Instruments Trading Act. The information was submitted for publication, through the agency of the

contact persons set out below on January 31, 2022 at 17:00 Eastern Time.

For further information, please contact:

Mark Turner, Director, 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 50