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, August 31, 2020 (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 decreased to 733, 674,547 common shares

with voting rights as at August 31, 2020. The decrease in the number of issued and outstanding shares from

August 1, 2020 to date is a result of the Company purchasing shares under the existing normal course issuer bid

(the “NCIB”), partially offset by the exercise of employee stock options or the vesting of employee share units. All

shares purchased under the NCIB were cancelled.

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 the disclosure requirements of Lundin Mining under the Swedish

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

contact persons set out below on August 31, 2020 at 5:00 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