Lundin Mining Reports Fatality at Neves-Corvo Mine
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NEWS RELEASE
Lundin Mining Reports Fatality at Neves-Corvo Mine
Vancouver, February 12, 2024 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin
Mining” or the “Company”) regrets to report a fatality at its Neves -Corvo mine in Portugal on Monday, February
12, 2024. An employee while operating a piece of equipment underground was tragically involved in a fall of
ground that resulted in a fatal accident.
Lundin Mining President and CEO Jack Lundin stated “We are deeply saddened by this tragic incident. Our sincere
thoughts and support are with our colleague’s family and coworkers during this difficult time.”
The Company has notified the appropriate authorities in Portugal and is providing its full cooperation in their
investigation. Out of respect, operations at Neves-Corvo have been temporarily suspended.
The Company will 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 in this release is subject to the disclosure requirements of Lundin Mining under the EU Market
Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set
out below on February 12, 2024 at 14:00 Pacific Time.
For further information, please contact:
Stephen Williams, Vice President, Investor Relations: +1 604 806 3074
Robert Eriksson, Investor Relations Sweden: +46 8 440 54 50
Cautionary Statement in 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 forwar d-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 p roduction and its expectations
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 C ompany’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 exp ectations 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 labour; 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 suppo rt the development and operation of mining projects; and assumptions related to the factors set forth below. While these fact ors and
assumptions are 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 uncertai nties and contingencies. Known and
unknown factors could cause actual results to differ materi ally 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: global financial conditions, market volatility and inflation, including pr icing and
availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, in dustrial accidents, catastrophic equipment
failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquake s, flooding or unusually severe
weather; uninsurable risks; project financing risks, liquidity risks and limited financial resource s; volatility and fluctuations in metal and commodity demand and
prices; delays or the inability to obtain, retain or comply with permits; significant reliance on a single asset; reputation risks related to negative publicity with respect
to the Company or the mining industry in general; health and safety risks; risks relating to the development of the Josemaria Project; inabilit y to attract and retain
highly skilled employees; risks associated with climate change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible
infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging
markets, including with respe ct to foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Comp any’s
operating jurisdictions, including but not limited to those related to permitting and approvals, environmental and tailings m anagement, labour, trade relations, and
transportation; risks relating to indebtedness; the inability to effectively compete in the industry; risks associated with a cquisitions 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;
changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and c losed and historical sites; reliance on key
personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks
associated with the estimation of Mineral Resource s and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to
models relating thereto; 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; community and stakeholder opposition; fina ncial projections, including estimates
of future expenditures and cash costs, and estimates of future productio n may not be reliable; enforcing legal rights in foreign jurisdictions; environmental and
regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; activist shareh olders and proxy solicitation matters; ri sks
relating to dilution; regulatory investigations, enforcement, sanctions and/or related or other litigation; risks relating to payment of dividends; counterparty and
customer concentration risks; the estimation of asset carrying values; risks associated with the use of derivatives; relationships with employees and contractors, and
the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interrupt ions in production; conflicts of interest;
existence of a significant shareholder; exchange rate fluctuations; challenges or defects in title; internal controls; compliance wit h foreign laws; potential for the
allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment
practices, or human rights violations; the threat associated with outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate
products; and other risks and uncertainties, including but not limited to those described in the “Risk and Uncertainties” section of the Company’s Annual Information
Form and the “Managing Risks” section of the Company’s MD&A for the year ended December 31, 2022, which are available on SEDAR+ at www.sedarplus.ca 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 results 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 ma y vary materially
from those described in forward-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.