(TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces that the Toronto Stock Exchange (the "TSX") has accepted the notice of Lundin Mining's intention to commence a normal course issuer bid (the "NCIB").

This approval allows the Company to purchase up to 63,718,842 common shares of the Company (the "Common Shares") (representing 10% of the 733,509,679 issued and outstanding Common Shares as of December 3, 2018, minus those Common Shares beneficially owned, or over which control or direction is exercised by the Company, the senior officers and directors of the Company and every shareholder who owns or exercises control or direction over more than 10% of the outstanding Common Shares) over a period of twelve months commencing on December 7, 2018. The NCIB will expire no later than December 6, 2019.

All purchases made pursuant to the NCIB will be made through the facilities of the TSX or other alternative Canadian trading systems. In accordance with TSX rules, any daily purchases (other than pursuant to a block purchase exemption) on the TSX under the NCIB are limited to a maximum of 573,371 Common Shares, which represents 25% of the average daily trading volume of 2,293,485 Common Shares on the TSX for the six months ended November 30, 2018. The price that Lundin Mining will pay for Common Shares in open market transactions will be the market price at the time of purchase.

The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any Common Shares that are purchased under the NCIB will be cancelled.

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.

The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on December 4, 2018 at 4:30 p.m. Eastern Time.

For further information, please contact:

Mark Turner, Director, Business Valuations and Investor Relations: +1-416-342-5565

Robert Eriksson, Investor Relations Sweden: +46 8 545 015 50