Lundin Mining Announces Passing of Founder and Former Chairman Mr. Lukas H. Lundin

TORONTO, July 27, 2022 - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corp. ("Lundin Mining" or the "Company") regrets to announce that the Company´s founder and former Chairman, Mr. Lukas H. Lundin, passed away on July 26, 2022 at the age of 64, following a two-year battle with brain cancer.

Over the past 40 years, Lukas has been a driving force behind the tremendous successes of companies within the Lundin Group. Lukas started his career in the international energy and mining sectors in the early 1980s working side-by-side with his father, the late Mr. Adolf H. Lundin.

Under the leadership of Lukas and his brother Ian, and in close cooperation with the rest of the Lundin family, the Lundin Group has grown into an internationally recognized portfolio of energy and mining companies with operations spanning the globe. The eleven companies that comprise the Lundin Group today have a combined market capitalization in excess of USD 11 billion, directly employing more than 15,000 people and creating opportunities for tens of thousands more.

Lukas Lundin´s sons Harry, Adam, Jack and William in a joint statement say, "Our father is our biggest inspiration. His passion for the industries to which he devoted his life was unparalleled. Lukas saw people as the key to success and spent decades building some of the strongest management teams in our industries. He always strived to empower those working with him and continuously pushed us to aim higher. We could not have had a better father and mentor.

Our family is deeply saddened about Lukas' passing but takes comfort in the knowledge that his legacy will live on for generations to come. Having worked side-by-side with Lukas for many years, all of us look forward to continuing to build on the successes of the companies within the Lundin Group - with the support of our shareholders and other stakeholders, not least the members of the local communities where we operate. The companies in the Lundin Group stand stronger than ever and the Lundin family is united in our commitment to remain long term shareholders."

Lukas founded Lundin Mining together with his father in the mid-1990s and was a member of the Board of Directors and Chairman of the Company for more than 25 years until he stepped down in May 2022. In his role as Chairman, Lukas oversaw Lundin Mining's development from an exploration-stage company into a global mid-tier producer with a strong copper focus and a portfolio of world-class assets.

Lundin Mining's President and CEO, Peter Rockandel, commented "The many successes of Lundin Mining and the Lundin Group owe directly to Lukas' extraordinary strategic foresight, matched only by his relentless drive. His guidance and support for his colleagues will be deeply missed, however, his pursuit and vision of creating a world-class base metals company lives on. Lukas would say, 'Get the right people. Empower the people. And have good assets.' Those of us that worked closest with Lukas share in his approach and will continue to build upon his legacy."

About Lundin Mining

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

The information was submitted for publication on July 27, 2022, at 11:30 Eastern Time.

SOURCE Lundin Mining Corp.