Mr. Paul Conibear reports

LUNDIN MINING RECEIVES FURTHER EXTENSION OF TF HOLDINGS OFFER PERIOD

Lundin Mining Corp., Freeport-McMoRan Inc. and China Molybdenum Co. Ltd. have agreed to further extend the notice period during which the company has the right to acquire Freeport's indirect interest in TF Holdings Ltd. to Oct. 20, 2016.

On May 9, 2016, Lundin Mining received a notice from Freeport offering Lundin Mining the right to acquire Freeport's indirect interest in TF Holdings at the same purchase price and on the same terms and conditions offered by CMOC.

TF Holdings is the holding company that indirectly owns an 80-per-cent interest in Tenke Fungurume Mining SA. Freeport and Lundin each hold a 70- and 30-per-cent interest, respectively, in TF Holdings.

Lundin Mining, in consultation with its legal and financial advisers, continues its strategic review in connection with its ownership interest in TF Holdings.