Lundin Mining Confirms Sinkhole Near Ojos del Salado Operations in Chile
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NEWS RELEASE
Lundin Mining Confirms Sinkhole Near Ojos del Salado Operations in Chile
Toronto, August 1, 2022 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or
the “Company”) confirms that a sinkhole was detected near to its Minera Ojos del Salado operations in Chile on July
30, 2022.
Upon detection, the area was immediately isolated and the relevant regulatory authorities notified. There has been
no impact to personnel, equipment or infrastructure.
The surficial sinkhole has remained stable since detection. Minera Ojos del Salado is conducting a technical
analysis and gathering information to determine the cause of the event. The Alcaparrosa mine, which is part of the
Minera Ojos del Salado operations, is continuously monitored and no movement has been detected related to the
surficial sinkhole.
As a preventive measure, development work in an area of the Alcaparrosa underground mine has been
temporarily suspended though is not expected to impact annual guidance for the Candelaria Copper Mining
Complex. The Alcaparrosa mine contributes approximately 5% to the overall ore processed annually by the
Candelaria Copper Mining Complex.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina,
Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.
The information was submitted for publication, through the agency of the contact persons set out below on
August 1, 2022 at 19:00 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 50
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Certain of the statements made and information contained herein is “forward-looking information” within the meaning of applicable Canadian securities laws. All
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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 con tingencies. 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 limited to: 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 eart hquakes, flooding or unusually
severe weather; uninsurable risks; global financial conditions and inflation; changes in the Company ’s share price, and volatility in the equity markets in general;
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outbreaks of viruses and infectious diseases, including the COVID-19 virus; exchange rate fluctuations; risks relating to attracting and retaining of highly skilled
employees; risks inherent in and/or associated with operating in foreign countries and emerging markets; climate change; regulatory investigations, enforc ement,
sanctions and/or related or other litigation; existence of significant shareholders; uncertain political and economic envir onments, including in Argentina, Brazil and
Chile; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benef its, unanticipated difficulties or expenditures
relating to integration and diversion of management time on integration; indebtedness; liquidity risks and limited financial resources; funding requirements and
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and environmental impact of the Company’s operations and products and management thereof; activist shareholders and proxy sol icitation matters; reliance on key
personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; historical environmental liabilities and ongoing
reclamation obligations; information technology and cybersecurity risks; risks related to mine closure activities, reclamatio n obligations, and closed and historical sites;
social and political unrest, including civil disruption in Chile; the inability to effectively compete in the industry; finan cial projections, including estimates of future
expenditures and cash costs, and estimates of future production may be unreliable; actual ore mined and/or metal recoveries varying from Mineral Resource and
Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; 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;
enforcing legal rights in foreign jurisdictions; community and stakeholder opposition; changes in laws, regulations or policies including but not limited to those related to
mining regimes, permitting and approvals, environmental and tailings management, labor, trade relations, and transportation; risks associated with the structural
stability of waste rock dumps or tailings storage facilities; dilution; risks relating to dividends; conflicts of interest; c ounterparty and credit risks and customer
concentration; the estimation of asset carrying values; challenges or defects in title; internal controls; relationships with employees and contractors, and the potential
for and effects of labor disputes or other unanticipated difficulties with or shortages of labor or interruptions in producti on; compliance with foreign laws; potential for
the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of imp roper or discriminatory employment
practices, or human rights violations; compliance with environmental, health and safety regula tions and laws; and other risks and uncertainties, including but not
limited to those described in the “Risk and Uncertainties” section of the Company’s AIF and the “Managing Risks” section of t he Company’s MD&A for the year ended
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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 for ward-looking information. Accordingly,
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