Mr. Stephen Williams reports

LUNDIN MINING PROVIDES UPDATE ON CHILE OPERATIONS FOLLOWING SEVERE WINTER STORM

Lundin Mining Corp. is closely monitoring the severe winter storm affecting northern and central Chile's Atacama region, which has caused regional flooding and significant snowfall.

Operational status

Ahead of the forecast weather event, Lundin Mining took certain precautionary measures to protect employees and infrastructure at the Candelaria and Caserones mining complexes.

Mining operations at Candelaria were impacted by heavy rainfall; however, the mill has continued to operate using existing ore stockpiles. At Caserones, operations were suspended on July 18 and remain temporarily suspended due to heavy snowfall, which continues to limit access and has disrupted power at site. Backup power generators are currently supporting critical activities. Operations at Caserones are expected to resume as soon as power has been restored and better accessibility has been established.

The safety of the company's employees, contractors, nearby communities and environment remains Lundin Mining's top priority. The company continues to follow established protocols at both operations in response to this event and have been collaborating with first responders and local authorities to support communities in the region.

The company incorporates weather disruptions into its annual guidance at Caserones, and, at this time, the company retains its full-year production guidance and remains on track to meet its targets. Lundin Mining will provide further updates to the extent appropriate as the situation develops and more information becomes available.

Weather outlook

The severe weather system affecting northern Chile and the Atacama region has begun to weaken, with rainfall expected to continue easing over the next 24 to 48 hours. Additional weather systems may pass through the region this week, but current forecasts indicate they will be significantly less severe than the recent event. While conditions are improving, access restrictions and logistical delays may continue to affect operations in the region for several more days as infrastructure and road access are fully restored.

About Lundin Mining Corp.

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada, with three operating mines in Brazil and Chile. Lundin Mining produces metals that underpin global development, supporting infrastructure, electrification, technological innovation and economic resilience. Lundin Mining's strategic vision is to become a top 10 global copper producer. To get there, the company is executing a clear growth strategy, which includes advancing one of the world's largest copper, gold and silver projects in the Vicuna district on the border of Argentina and Chile, where Lundin Mining holds a 50-per-cent interest. Lundin Mining also holds a 31-per-cent interest in the Los Helados project, located adjacent to the company's operating Caserones mine, providing longer-term growth optionality. Lundin Mining has a proven record of value creation through resource growth, operational excellence and responsible development.

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