2022-10-01 | TSX:MON | Press release

TORONTO, October 1, 2022 /CNW/ – (TSX: MON) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) is saddened to announce a death at its Neves-Corvo mine in Portugal late at night local time Friday, September 30, 2022. In an isolated incident underground, a material handling contractor’s employee was fatally injured while operating a piece of mobile equipment.

“It is with deep sadness that we announce the tragic loss of a fellow contractor. Our thoughts are with family, friends and our Neves-Corvo team at this difficult time. The safety of our employees and contractors remains our top priority,” said Pierre RockandelChairman and CEO of Lundin Mining.

The relevant regulatory authorities have been notified and the Company will cooperate fully throughout the investigation. Operations at Neves-Corvo have been voluntarily temporarily suspended.

The Company will issue further statements and provide additional information as appropriate.

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 Americamainly producing copper, zinc, gold and nickel.

The information has been submitted for publication, through the contact persons listed below on October 1, 2022 at 10:00 a.m. Eastern Time.

Caution regarding forward-looking information

Certain of the statements made and information contained herein constitute “forward-looking information” within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included herein constitute forward-looking information, including, but not limited to, statements regarding the Company’s business plans, prospects and strategies; the Company’s guidance on the timing and amount of future production and its expectations regarding operating results; expected costs; permit requirements and timelines; the timing and possible outcome of pending litigation; the results of any preliminary economic assessments, feasibility studies or mineral resource and mineral reserve estimates, life of mine estimates and mine and mine closure plans; anticipated market prices of metals, exchange rates and interest rates; developing and implementing the Company’s responsible mining management system; the Company’s ability to comply with contractual and authorization or other regulatory requirements; exploration and development activities planned for the Company’s projects; the integration of acquisitions by the Company and any anticipated benefits thereof; and expectations regarding other economic, business and/or competitive factors. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “aim”, “aim”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “may”, “could”, “should”, “schedule”, and similar expressions identify forward-looking statements.

Forward-looking information is necessarily based on various estimates and assumptions, including, without limitation, management’s expectations and beliefs, including that the Company may access financing, appropriate equipment and labor. sufficient work; assumed and future prices of copper, nickel, zinc, gold and other metals; expected costs; ability to achieve goals; the rapid and efficient integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions relating to the factors set out below. While these factors and assumptions are believed to be reasonable by Lundin Mining as of the date of this document in light of management’s experience and perception of current conditions and expected developments, such statements are inherently subject to important commercial, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. These factors include, but are not limited to: risks inherent in mining, including but not limited to environmental hazards, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, floods or unusually severe weather; uninsurable risks; global financial conditions and inflation; fluctuations in the Company’s share price and general stock market volatility; volatility and fluctuations in demand and prices for metals and commodities; changing tax regimes; delays or inability to obtain, maintain or comply with permits; dependence on a single asset; unavailable or inaccessible infrastructure, infrastructure failures and risks related to aging infrastructure; risks relating to negative publicity about the Company or the mining industry generally; health and safety risks; pricing and availability of key supplies and services; the threat associated with virus and infectious disease outbreaks, including the COVID-19 virus; exchange rate fluctuations; risks related to attracting and retaining highly qualified employees; risks inherent in and/or associated with operating in foreign countries and emerging markets; climate change; regulatory investigations, law enforcement, sanctions and/or related or other litigation; existence of major shareholders; uncertain political and economic environments, including in Argentina, Brazil and Chile; risks associated with acquisitions and related integration efforts, including the ability to realize anticipated benefits, unforeseen difficulties or expenses related to integration and diversion of management time on integration; indebtedness; liquidity risks and limited financial resources; funding needs and availability of funding; exploration, development or operating results that do not correspond to the Company’s expectations; risks related to environmental regulations and the environmental impact of the Company’s activities and products and their management; shareholder activists and proxy solicitation issues; the use of key personnel and reporting and monitoring systems, as well as third parties and consultants in foreign jurisdictions; historical environmental liabilities and ongoing remediation obligations; information technology and cybersecurity risks; risks related to mine closure activities, reclamation obligations and closed and historic sites; social and political unrest, including civil unrest in Chile; the inability to compete effectively in the industry; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; actual mined ore and/or metal recoveries varying from mineral resource and mineral reserve estimates, grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; risks associated with the estimation of mineral resources and mineral reserves and the geology, grade and continuity of mineral deposits, including, but not limited to, models relating thereto; enforce legal rights in foreign jurisdictions; community and stakeholder opposition; changes in laws, regulations or policies, including but not limited to those related to mining regimes, permits and approvals, environmental and tailings management, labor work, commercial relations and transport; risks associated with the structural stability of waste rock piles or tailings storage facilities; dilution; dividend risks; conflicts of interest; counterparty and credit risks and customer concentration; estimating the carrying values ​​of assets; title disputes or defects; internal controls; relationships with employees and contractors, and the possibility and effects of labor disputes or other unforeseen difficulties or labor shortages or production disruptions; compliance with foreign laws; the potential for allegations of fraud and corruption involving the Company, its customers, suppliers or employees, or allegations of improper or discriminatory employment practices or human rights abuses; compliance with environmental, health and safety regulations and laws; and other risks and uncertainties, including, but not limited to, those described in the “Risks and Uncertainties” section of the Company’s Annual Information Form and the “Risk Management” section of the Company’s MD&A for the year ended December 31, 2021, which are available on SEDAR at www.sedar.com under the Company’s profile. All forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated, forecast or anticipated and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those described in the forward-looking information. Accordingly, there can be no assurance that the forward-looking information will prove to be accurate and the forward-looking information is not a guarantee of future performance. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise‐research or to explain any material differences between these actual events and subsequent events, except as required by applicable law.

SOURCE Lundin Mining Corporation

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