Lundin Mining Announces Offer to Purchase Notes Pursuant to Asset Sale Covenant

Toronto, April 26, 2018 (GLOBE NEWSWIRE) --

(TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining” or the "Company”) has commenced an offer to purchase (the "Offer”) any and all of its $450,000,000 aggregate principal amount of 7.875% Senior Secured Notes due 2022 (the "Notes”).

The Offer is being made pursuant to the indenture governing the Notes and an Offer to Purchase, dated April 26, 2018 and related Letter of Transmittal, which more fully set forth the terms and conditions of the Offer.

Holders of the Notes who validly tender will receive the principal amount of the Notes plus accrued and unpaid interest. Any Notes not tendered in the Offer will remain outstanding. The Offer will expire at 5:00 P.M. Eastern Time on May 25, 2018, unless extended or earlier terminated.

This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Requests for documents relating to the Offer may be directed to U.S. Bank National Association, the Depositary Agent, at (800) 934-6802.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24% equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is "forward-looking information" within the meaning of applicable Canadian securities laws. Such statements include, but are not limited to, the Asset Sale Offer. Words such as "if", "will be", "may" and "schedule", or variations of these terms or similar terminology or statements that certain actions, events or results "could" occur or be achieved are intended to identify such forward-looking information. Although the Company believes that the expectations reflected in the forward-looking information contained herein are reasonable, these statements by their nature involve risks and uncertainties, and are not guarantees of future performance. Forward-looking information is based on a number of assumptions, and subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements. 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 statements. Accordingly, readers should not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward- looking statements, except to the extent required by applicable law.

This is information that Lundin Mining Corporation is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on April 26, 2018 at 4:30 p.m. Eastern Time.

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