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Message: Lundin Mining Seeks Best Value for Its Holding in Chariot Resources

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Lundin Mining Seeks Best Value for Its Holding in Chariot Resources

posted on Aug 25, 09 02:08PM

Lundin Mining Seeks Best Value for Its Holding in Chariot Resources

13:24 EDT Tuesday, August 25, 2009

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2009) - Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN)(OMX:LUMI) today released the following statement to address allegations made by Chariot Resources in an advertisement in a leading daily newspaper:

Lundin Mining wishes to make clear that it has taken no part in the dissident proxy solicitation launched by certain concerned shareholders of Chariot Resources Limited. Lundin Mining has no intention of acquiring the Mina Justa Project or in making a bid to acquire Chariot.

Commenting on the allegations contained in the advertisement, Mr. Phil Wright, President and CEO said "Lundin Mining is just as concerned as any other shareholder to ensure that we realize the best possible value for our holding in Chariot.

"We have lost confidence in the ability of present management to accomplish this and accordingly we support the initiative of the Concerned Shareholder Group and strongly believe that a change of management and the board of directors of Chariot is necessary.

"We are a major shareholder and we intend to support the slate of directors proposed by the Concerned shareholders" Mr. Wright said

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