LUNDIN MINING CORPORATION

Lundin Mining reported that it has completed the sale of its 49% interest in the Ozernoe zinc project in Russia to its former partner, MBC Resources, for gross proceeds of US$35 million. The sale terminates all of Lundin Mining’s rights and obligations related to the project. Proceeds of $3.5 million have been received upon closing with the balance of $31.5 million payable over 10 months. A write-down of approximately $17 million is anticipated on disposal.