Mining” or the “Company”) is pleased to announce today that it has filed a NI43-101 Technical Report on the Chapada Mine, Goiás State, Brazil. The purpose of th e Technical Report is to support the previous disclosure of Chapada Mineral Reserve and Mineral Resource estimates.
NEW
S RELEASE
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undin Mining Files Technical Report for Chapada Copper-Gold Mine
Toronto, October 10, 2019 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin
Mining” or the “Company”) is pleased to announce today that it has filed a NI43-101 Technical Report on
the Chapada Mine, Goiás State, Brazil. The purpose of th e Technical Report is to support the previous
disclosure of Chapada Mineral Reserve and Mineral Resource estimates.
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undin Mining is continuing to optimize the Chapada production schedule at the current 24.0 Mtpa
throughput rate, on which this Technical Report is based, while actively advancing options for mine and
plant expansion. In parallel, a significant increase in exploration efforts are underway, largely focused on
near-mine targets, with results to be incorporated in any expansionary plans.
Th
e 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 profile on SEDAR (www.sedar.com) and on the Company’s website (www.lundinmining.com).
A
bout Lundin Mining
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undin 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, nickel and zinc. In
addition, Lundin Mining holds an indirect 24% equity sta ke in the Freeport Cobalt Oy business, which
includes a cobalt refinery located in Kokkola, Finland.
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he 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 October 10, 2019 at 6:00 pm Eastern Time.
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or 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
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
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 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
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 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; and the Company’s integration of acquisitions (such
as the Chapada mine) 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 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 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
experience 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 and/or associated with operating in foreign countries; uncertain political and economic environments; community activism, shareholder activism and
risks related to negative publicity with respect to the Company or the mining industry in general; changes in laws, regulations or policies including but not
limited to those related to permitting and approvals, environmental and tailings management, labour, trade relations, and transportation; delays or the
inability to obtain necessary governmental approvals and/or permits; regulatory investigations, enforcement, sanctions and/or related or other litigation;
risks associated with business arrangements and partners over which the Company does not have full control; risks associated with acquisitions and related
integration efforts (including with respect to the Chapada mine), including the ability to achieve anticipated benefits, unanticipated difficulties or
expenditures relating to integration and diversion of management time on integration; competition; development or mining results not being consistent
with the Company’s expectations; estimates of future production and operations; operating, cash and all-in sustaining cost estimates; allocation of resources
and capital; litigation; uninsurable risks; volatility and fluctuations in metal and commodity prices; the estimation of asset carrying values; funding
requirements and availability of financing; indebtedness; foreign currency fluctuations; interest rate volatility; changes in the Company’s share price, and
equity markets, in general; changing taxation regimes; counterparty and credit risks; health and safety risks; risks related to the environmental impact of
the Company’s operations and products and management thereof; unavailable or inaccessible infrastructure and risks related to ageing infrastructure; 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; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other
characteristics; ore processing efficiency; risks relating to attracting and retaining of highly skilled employees; ability to retain key personnel; the potential
for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; the price and availability of
energy and key operating supplies or services; the inherent uncertainty of exploration and development, and the potential for unexpected costs and expenses
including, without limitation, for mine closure and reclamation at current and historical operations; 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; actual ore mined
and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates; mine plans, and life of mine estimates; the possibility that future
exploration, development or mining results will not be consistent with expectations; natural phenomena such as earthquakes, flooding, and unusually severe
weather; 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; security at the Company’s operations; breach or compromise of key information
technology systems; materially increased or unanticipated reclamation obligations; risks related to mine closure activities; risks related to closed and
historical sites; title risk and the potential of undetected encumbrances; risks associated with the structural stability of waste rock dumps or tailings storage
facilities; and other risks and uncertainties, including but not limited to those described in the “Risk and Uncertainties” section of the Annual Information
Form for the year ended December 31, 2018 and the “Managing Risks” section of the Company’s MD&A for the year ended December 31, 2018, 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 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 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.