Lundin Mining Reports Contractor Fatality at Neves-Corvo Mine
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 Reports Contractor Fatality at Neves-Corvo Mine
Toronto, October 1, 2022 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining”
or the “Company”) is saddened to report a fatality at its Neves-Corvo mine in Portugal late in the evening local
time Friday, September 30, 2022. In an isolated incident underground, the employee of a materials handling
contractor was fatally injured while operating a piece of mobile equipment.
“It is with deep sadness that we report the tragic loss of a contractor colleague. Our thoughts are with the family,
friends and our Neves-Corvo team at this difficult time. The safety of our employees and contractors remains our
top priority,” said Peter Rockandel, President and CEO of Lundin Mining.
Relevant regulatory authorities have been notified and the Company will cooperate fully throughout the
investigation. Operations at Neves-Corvo have been voluntarily temporarily suspended.
The Company will issue further statements and provide additional information as appropriate.
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
October 1, 2022 at 10:00 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
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein is “forward-looking information” within the meaning of applicable Canadian securities laws. All
statements other than statements of historical facts included in this document constitute forward -looking information, including but not limited to statements
regarding the Company’s plans, prospects and business strategies; the Company’s guidance on the timing and amount of future production and its expect ations
regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any
Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimat es, and mine and mine closure plans;
anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company’s Responsible Mining
Management System; the Company’s ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development
activities at the Company’s projects; the Company’s integration of acquisitions and any anticipated benefits thereof; and expec tations for other economic, business,
and/or competitive factors. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “goal”, “aim”, “intend”, “continue”, “budget”, “estimate”,
“may”, “will”, “can”, “could”, “should”, “schedule” and similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of
management, including that the Company can access financing, appropriate equipment and sufficient labor; assumed and future price of copper, nickel, zinc, gold
and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the
Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these
factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management’s e xperience and perception of
current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and
contingencies. 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, unusua l or unexpected geological formations or unstable ground conditions, and
natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; global financial conditions a nd inflation; changes in the
Company’s share price, and volatility in the equity markets in general; volatility and fluctuations in metal and commodity demand and prices; changing tax ation
regimes; delays or the inability to obtain, retain or comply with permits; reliance on a single asset; unavailable or inacces sible infrastructure, infrastructure failures,
and risks related to ageing infrastructure; risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks;
pricing and availability of key supplies and services; the threat associated with 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 associate d with operating in foreign countries and
emerging markets; climate change; regulatory investigations, enforcement, sanctions and/or related or other litigation; existence of significant shareholders;
uncertain political and economic environments, including in Argentina, Brazil and Chile; risks associated with acquisitions and related integration efforts, including
the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration;
indebtedness; liquidity risks and limited financial resources; funding requirements and availability of financing; exploratio n, development or mining results not
being consistent with the Company’s expectations; risks related to the environment al regulation and environmental impact of the Company’s operations and
products and management thereof; activist shareholders and proxy solicitation matters; reliance on key personnel and reportin g 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, reclamation obligations, and closed and historical sites; so cial and political unrest, including civil
disruption in Chile; the inability to effectively compete in the industry; financial 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 t hereto; 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; counterparty and cre dit 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 production; compliance with foreign laws; potential for the allegation
of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminat ory employment practices, or
human rights violations; compliance with environmental, health and safety regulations and laws; and ot her 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 the Company’s MD&A for the year ended December
31, 2021, which are available on SEDAR at www.sedar.com under the Company’s profile. All of the forward-looking statements made in this document are qualified
by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual resu lts to differ materially from 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,
there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance.
Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of
this document. The Company disclaims any intention or obligation to update or revise forward ‐looking information or to explain any material difference between
such and subsequent actual events, except as required by applicable law.