Breaking News

Lundin Mining Announces Intention to Voluntarily Delist Its Common Shares From the NYSE

17:19 EDT Friday, March 13, 2009

TORONTO, ONTARIO--(Marketwire - March 13, 2009) - Lundin Mining Corporation (TSX:LUN)(NYSE:LMC)(OMX:LUMI) ("Lundin Mining" or the "Company") today announced its intention to voluntarily delist its common shares from the New York Stock Exchange (the "NYSE"). The Company's common shares will continue to trade on the Toronto Stock Exchange (the "TSX") and the Swedish Depositary Receipts representing the Company's common shares (the "SDRs") will continue to trade on the Nordic OMX Exchange (the "OMX").

The Company believes that the listing of its common shares on the TSX provides shareholders sufficient liquidity and has concluded that the cost of maintaining the listing of its common shares on the NYSE outweighs the benefits of continuing such listing. Therefore, the Company has decided to delist its common shares from the NYSE.

Phil Wright, President and CEO of Lundin Mining, commented, "Our board has considered the continued listing on the NYSE and in light of the fact that the NYSE accounts for less than 15% of our global trading volume and the eventual cost savings that we believe will result from the delisting, we have concluded that it is in the best interests of the Company and our shareholders to delist from the NYSE."

The Company delivered notice today to the NYSE that it intends to delist its common shares. As disclosed in the notice, the Company expects to file a notification of removal from listing on the NYSE on Form 25 with the U.S. Securities and Exchange Commission ("SEC") on or about March 23, 2009. The withdrawal of the Company's common shares from listing on the NYSE should be effective 10 days after the filing of the notice on Form 25 with the SEC. Accordingly, the Company anticipates that the delisting will take effect on or about April 2, 2009. Following delisting, the Company will continue to file or furnish reports with the SEC. However, the Company also announced that it intends at a future date, when permitted under SEC rules, to terminate its registration of its common shares with the SEC.

The delisting of the Company's common shares from the NYSE will not affect the listing of the Company's common shares on the TSX or the SDRs on the OMX.

The Company will comply with, and continue to be subject to, the federal laws of Canada, the jurisdiction in which the Company is incorporated, as well as Canadian securities laws and corporate governance rules applicable to Canadian publicly listed companies, including the rules of the Toronto Stock Exchange.

ABOUT LUNDIN MINING

Lundin Mining Corporation is a diversified base metals mining company with operations in Portugal, Spain and Sweden, producing copper, nickel, lead and zinc. In addition, Lundin Mining holds a development project pipeline which includes the world class Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo and holds an extensive exploration portfolio and interests in international mining and exploration ventures.

On Behalf of the Board,

Phil Wright, President and CEO