Mr. Peter Rockandel reports

LUNDIN MINING ANNOUNCES APPROVAL OF CANDELARIA 2040 ENVIRONMENTAL IMPACT ASSESSMENT

The environmental impact assessment (EIA) for the extension of operations and mine life for Lundin Mining Corp.'s Candelaria copper mine in Chile was approved by the Regional Environmental Commission of Atacama (COEVA) on Sept. 8, 2023. Issuance of the Resolucion de Calificacion Ambiental (RCA) by Servicio de Evaluacion Ambiental de la Republica de Chile (SEA) is anticipated in October, 2023.

The Candelaria optimization and operational continuity 2040 EIA considers several enhancements to the current operation that will enable the extension of the mine life to 2040, from 2030 under the previous EIA, and includes various measures that will support sustainable social, economic and environmental development within the Atacama region. The EIA was submitted to the authorities in February, 2020. Approval represents a key milestone toward successfully extending the operational life, including development of the La Espanola open pit, as presented in the February, 2023, technical report titled "Technical Report for the Candelaria Copper Mining Complex, Atacama Region, Region III, Chile." The Candelaria optimization and operational continuity 2040 EIA also allows for the potential development of the Candelaria underground expansion project (CUGEP) not included in the February, 2023, technical report.

Peter Rockandel, chief executive officer of Lundin Mining, stated: "We are very pleased to announce approval of the Candelaria optimization and operational continuity 2040 EIA. This announcement is the culmination of a comprehensive process and reflects our long-term commitment to our employees, our communities, the region and the country of Chile. Approval enables the construction of various facilities and initiatives that, together, represents continued investment and local employment. We are excited to continue working together to create a prosperous and sustainable future in the Atacama region."

About Lundin Mining Corp.

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States, primarily producing copper, zinc, gold and nickel.

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