Lundin Mining Announces Approval of Swedish Prospectus for Listing Shares Directly on Nasdaq Stockholm

TORONTO, ONTARIO--(Marketwired - May 31, 2017) - Lundin Mining Corporation (TSX:LUN)(OMX:LUMI) ("Lundin Mining" or the "Company") is pleased to announce that it has obtained the approval and registration with the Swedish Financial Supervisory Authority (the "FSA") of a prospectus (the "Swedish Prospectus"), which has been filed on the Company's website at www.lundinmining.com.

The Swedish Prospectus was prepared and filed in order to permit the admission to trading of the Company's shares directly on Nasdaq Stockholm following the conversion of Swedish Depository Receipts ("SDRs") to shares. Following this conversion process, the Company's shares will be dual listed on TSX and Nasdaq Stockholm. No new shares are being issued by the Company in connection with the Nasdaq Stockholm listing or in connection with the Swedish Prospectus.

In accordance with the Company's previous announcement, the record date for the conversion of the SDRs in the Swedish VPC register shall be June 9, 2017. Pareto Securities AB will, in accordance with the VPC plan for conversion of securities, deliver the underlying shares of the Company to the holders of the SDRs entitled to receive such shares. Holders of the SDRs do not need to take any action as all SDRs will be converted automatically to shares of the Company. Further information on the SDR conversion procedure can be found in the Swedish Prospectus.

The first day of trading of shares on Nasdaq Stockholm is expected to be June 8, 2017. The last day of trading of the SDRs is expected to be June 7, 2017. The trading symbol for the shares on Nasdaq Stockholm will be "LUMI".

The shares underlying the SDRs are expected to be credited on June 12, 2017, after which Euroclear Sweden AB ("Euroclear") will send out account statements to those who held SDRs on the Record Date and received shares on owner registered accounts (Sw. VP-accounts). Those who have their holdings registered with a bank or other nominee will receive information in accordance with each nominee's procedures.

To execute the above, a halt for cross border transfers will be applied from and including June 5, 2017 from which date shares cannot be deposited with Pareto and deposited shares cannot be withdrawn. Accordingly, from and including June 5, 2017 a shareholder on the TSX cannot deposit their shares with Pareto for trading in SDRs on the Nasdaq Stockholm and a SDR holder cannot withdraw their underlying shares from Pareto for trading on the TSX.

Following the SDR conversion, cross border trades will take place via Euroclear. The first possible day for cross border trades in shares is expected to be June 12, 2017. Holders of shares are advised to contact their nominee or bank.

About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24% equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

On Behalf of the Board,

Paul Conibear
President and CEO

This is information that Lundin Mining Corporation is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below on May 31, 2017 at 6:00 p.m. Eastern Time.

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is "forward-looking information" within the meaning of applicable Canadian securities laws. Such statements include, but are not limited to, listing of the common shares on Nasdaq Stockholm (including timing thereof), and the conversion and delisting of the SDRs from the Nasdaq Stockholm (including timing thereof). Words such as "expect", "plan", "shall", and "will", or variations of these terms or similar terminology or statements that certain actions, events or results could, shall or will occur or be achieved are intended to identify such forward-looking information. Although the Company believes that the expectations reflected in the forward-looking information contained herein are reasonable, these statements by their nature involve risks, uncertainties and contingencies, and are not guarantees of future performance. Forward-looking information is based on a number of assumptions, and subject to a variety of risks, uncertainties and contingencies which could cause actual events or results to differ from those reflected in the forward-looking statements. Such risks, uncertainties and contingencies include, without limitation, delays encountered with the Nasdaq Stockholm and other regulatory authorities in Sweden, changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental/regulatory approvals (including the approval of the listing prospectus), as well as other risks, uncertainties and contingencies including but not limited to those described in the Risks and Uncertainties section of the Company's most recently filed Annual Information Form and in the Managing Risks section of each of the Company's management discussion and analysis. Should one or more of these risks, uncertainties and contingencies materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward?EUR?looking statements or to explain any material difference between subsequent actual events and such forward?EUR? looking statements, except to the extent required by applicable law.