Mr. John Craig reports

LORITO HOLDINGS S.A.R.L. AND ZEBRA HOLDINGS & INVESTMENTS S.A.R.L. ACQUIRE SUBSCRIPTION RECEIPTS OF LUNDIN MINING CORPORATION

Lorito Holdings SARL and Zebra Holdings & Investments SARL, two companies controlled by a trust settled by the late Adolf H. Lundin, have acquired ownership of 3,607,844 subscription receipts and 16 million subscription receipts, respectively, exercisable into 3,607,844 common shares and 16 million common shares, respectively, of Lundin Mining Corp. in consideration of approximately $5.10 per subscription receipt, pursuant to a bought-deal financing transaction. As a result of these acquisitions, Lorito and Zebra hold 37,557,844 common shares and 54,964,854 common shares, respectively, of the company, representing upon conversion of the subscription receipts 5.23 per cent and 7.65 per cent, respectively, of the issued capital of the company.

Lorito and Zebra are joint actors with respect to their holdings in the company and have acquired the shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease its investment in the company, depending upon the business and prospects of the company and depending on future market conditions.