Lundin Mining Reports 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 Fatality at Neves-Corvo Mine
Toronto, September 25 , 2020 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin
Mining” or the “Company”) is deeply saddened to report that a fatal accident occurred at its Neves-Corvo mine in
Portugal on Friday, September 25, 2020. The incident occurred during underground mining operations. No other
personnel were injured in the incident and the scene has been secured. All underground mining operations have
been suspended.
“Everyone at Lundin Mining is shocked and saddened by this tragic accident and the death of our colleague. Our
thoughts are with the ir family and friends at this very difficult time ,” said Marie Inkster, President and CEO of
Lundin Mining, adding “Our immediate focus is on the welfare of the employee’s family, as well as our employees
and contractors who have been affected by the incident, to ensure that everyone involved is properly supported.”
Relevant authorities are being notified and the Company will be cooperating fully in the investigation of this tragic
incident. 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 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 requi rements 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 September 25, 2020 at 18:30 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
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 consti tute 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 p roduction and its expectations
regarding the results of o perations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the resu lts of any
Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, 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 Managemen t System; the Company’s ability
to comply with contractual and permitting or other re gulatory requirements; anticipated exploration and development activities at the Company’s projects; and the
Company’s integration of acquisitions and any anticipated benefits thereof. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target ”, “plan”, “goal”,
“aim”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “can”, “could”, “should”, “schedule” and similar expression s 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 cop per, nickel, zinc, gold and other
metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political envi ronment in which the Company operates
will continue to support the development and operation of mining projects; and assumptions re lated 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 experience an d perception of current conditions
and expected developments, these s tatements 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: volatility and fluctuations in metal and commo dity prices; global financial conditions
and inflation; 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 earthquakes, flooding or unusua lly severe weather; uninsura ble
risks; changes in the Company’s share price, and volatility in the equity markets in general; the threat associated with outb reaks of viruses and infectious diseases,
including the novel COVID -19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset;
potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the all egation of improper or discriminatory
employment practices, or human rights violations; 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; risks associated with th e estimation of Mineral Resources and Mineral Reserves
and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; ore processin g efficiency; risks inherent in and/or
associated with operating in foreign countries and emerging markets; security at the Company’s operations; changing taxation regimes; health and safety risks;
exploration, development or mining results not being consistent with the Company’s expectations; unavailable or inaccessible infrastructure and risks related to
ageing infrastructure; counterparty and credit risks and customer concentration; risks related to the environmental regulatio n and environmental impact of the
Company’s operations and products and management thereof; exchange rat e fluctuations; reliance on third parties and consultants in foreign jurisdictions;
community and stakeholder opposition; civil disruption; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour
or interruptions in production; uncertain political and economic environments; litigation; regulatory investigations, enforcemen t, sanctions and/or related or other
litigation; risks associated with the structural stability of waste rock dumps or tailings sto rage facilities; changes in laws, regulations or policies including but not
limited to those related to mining regimes, permitting and approvals, environmental and tailings management, labour, trade re lations, and transportation; climate
change; compliance with environmental, health and safety laws; enforcing legal rights in foreign jurisdictions; information technology and cyber security risks;
estimates of future production and operations; estimates of operating, cash and all -in sustaining cost estimates; delays or the inability to obtain, retain or comply
with permits; compliance with foreign laws; risks related to mine closure activities and closed and historical sites; challenges or defects in title; the price and availability
of key operating supplies or services; historical environmental liabilities and ongoing reclamation obligations; indebtedness; funding requirements and availability of
financing; liquidity risks and limited financial resources; risks relating to attracting and retaining of highly sk illed employees; risks associated with acquisitions and
related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditure s relating to integration and diversion of
management time on integration; the estimation of asset carrying values; internal controls; competition; dilution; existence of significant shareholders; con flicts of
interest; activist shareholders and proxy solicitation matters; risks relating to dividends; risks associated with busine ss arrangements and partners over which the
Company does not have full control; and other risks and uncertainties, including but not limited to those described in the “R isks and Uncertainties” section of the
Annual Information Form and the “Managing Risks” section of the Company’s MD&A for the year ended December 31, 2019, 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. Althou gh
the Company has attempted to identify important factors that could cause actual results to differ materially from those conta ined 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 mater ialize, or should underlying
assumptions prove incorrect, act ual results may 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.