Lundin Mining Files Updated Technical Report for the Neves-Corvo Mine

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NEWS RELEASE

Lundin Mining Files Updated Technical Report for the

Neves-Corvo Mine

Toronto, June 23, 2017 (TSX: LUN; OMX: LUMI) Lundin Mining Corporation (“Lundin Mining” or the

“Company”) is pleased to announce today that it has filed an updated Technical Report for the Neves -

Corvo Mine in Portugal, incorporating the results of the Zinc Expansion Project Feasibility Study

previously announced on May 11, 2017.

The Technical Report was prepared in accordance with the Canadian Securities Administrator's National

Instrument 43-101 – Standards of Disclosure for Mineral Projects , and is available for review under the

Company's pr ofile on SEDAR (www.sedar.com) and on the Company’s website

(www.lundinmining.com).

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

cobalt refinery located in Kokkola, Finland.

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

EU Market Abuse Regulation and the Swedish Securities Market Act. This information was publicly

communicated on June 23, 2017 at 11:30 a.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

All 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 , those with

respect to focus and strategy . Such statements include, but are not limited to, the results of the Neves -Corvo Zinc Expansion

Project (or ZEP) Feasibility Study , including but not limited to updated Mineral Resource and Mineral Reserve estimate s, as

incorporated in the updated Neves-Corvo Technical Report announced in this news release (the “Neves Corvo Technical Report”)

or otherwise, and references thereto. Words such as ”assumption”, “estimate”, “expectations”, “Feasibility Study” and ”project”,

or variations of these terms or similar terminology or statements that certain actions, events or results could, may or will occur

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

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or be achieved are intended to identify such forward- looking information. Forward-looking information is based on a number of

assumptions, estimates and expectations that, while considered reasonable by the Company as of the date of such statements,

are inherently subject to significant business, economic, competitive and other risks, uncertainties and contingencies which could

cause such assumptions, estimates and expectations to be in correct and actual events or results to differ from those reflected in

the forward- looking statements. The assumptions, estimates and expectations referenced, contained or incorporat ed by

reference in this news release which may prove to be incorrect include, but are not limited to, those set forth herein , the

Company’s May 11, 2017 news release announcing the ZEP Feasibility Study results (the “ZEP News Release”) and in the Neves

Corvo Technical Report. The risks, uncertainties and contingencies that could cause assumptions, estimates and expectations to

be incorrect and actual results to differ materially from those projected in the forward- looking statements, includ e those

described in the ZEP News Release, the “ Risks and Uncertainties ” section of the Company’s most recently filed Annual

Information Form ("2017 AIF") and in the “Managing Risks” section of the Company’s full -year 2016 Management's Discussion

and Analys is ("2016 MD&A") , as well as the various assumptions, conditions, and qualifications in the Neves Corvo Technical

Report. All of the forward-looking statements made or referenced herein are qualified by these cautionary statements and those

made in the ZEP News Release, as well as the aforementioned sections of the Company’s 2017 AIF and 2016 MD&A. Should one

or more of these risks, uncertainties and contingencies materialize, or should underlying assumptions , estimates or expectations

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.