Updated Share Capital and Voting Rights for Lundin Mining

NEWS RELEASE

Updated Share Capital and Voting Rights for Lundin Mining

Toronto, January 31, 2017 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin

Mining” or the “Company”) reports the following, in accordance with the Swedish Financial Instruments

Trading Act:

As a result of the exercise of employee stock options and the vesting of employee share units from

January 1, 2017 to date, the number of issued and outs tanding shares of the Company has increased to

726,167,102 common shares with voting rights as at January 31, 2017.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the USA,

Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an

indirect 24% equity stake in the world -class Tenke Fungurume copper/cobalt mine in the Democratic

Republic of Congo and in the Freeport Cobalt Oy business, which includes a cobalt refinery located in

Kokkola, Finland. The Company has enter ed into an agreement to sell its indirect equity stake in Tenke

Fungurume.

On Behalf of the Board,

Paul Conibear, President and CEO

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

Swedish Financial Instruments Trading Act . This information was publicly communicated on January 31,

2017 at 5:30 p.m. Eastern Time.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lundin Mining Corporation

Sonia Tercas

Senior Associate, Investor Relations

+1-416-342-5583

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

UK Office

Hayworthe House, Market Place

Haywards Heath, West Sussex

RH16 1DB

United Kingdom

Phone: +44 (0) 1444 411 900

Fax: +44 (0) 1444 456 901

www.lundinmining.com