LUXEMBOURG, LUXEMBOURG and TORONTO, ONTARIO--(Marketwired - Oct. 23, 2014) - Lorito Holdings S.a.r.l. ("Lorito") and Zebra Holdings & Investments S.a.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, announced today that each had acquired ownership of 3'607'844 subscription receipts and 16'000'000 subscription receipts respectively (the "Subscription Receipts"), exercisable into 3'607'844 common shares and 16'000'000 common shares respectively of Lundin Mining Corporation (TSX:LUN)(OMX:LUMI) (the "Company") in consideration of approximately C$ 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 % and 7.65 % 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 their investment in the Company depending upon the business and prospects of the Company and depending on future market conditions.

Axel Azrac
Phone: + 352 26 30 27 70
Fax: + 352 27 44 93 80

or

John H. Craig
Phone: +416 869 57 56
Fax: +416 350 69 51