Lundin Mining Confirms Sinkhole Near Ojos del Salado Operations in Chile

TORONTO, Aug. 1, 2022 /CNW/ -LUN (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (Lundin Mining or the Company) confirms that a sinkhole was detected near to its Minera Ojos del Salado operations in Chile on July 30, 2022.

Upon detection, the area was immediately isolated and the relevant regulatory authorities notified. There has been no impact to personnel, equipment or infrastructure.

The surficial sinkhole has remained stable since detection. Minera Ojos del Salado is conducting a technical analysis and gathering information to determine the cause of the event. The Alcaparrosa mine, which is part of the Minera Ojos del Salado operations, is continuously monitored and no movement has been detected related to the surficial sinkhole.

As a preventive measure, development work in an area of the Alcaparrosa underground mine has been temporarily suspended though is not expected to impact annual guidance for the Candelaria Copper Mining Complex. The Alcaparrosa mine contributes approximately 5% to the overall ore processed annually by the Candelaria Copper Mining Complex.

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 America, primarily producing copper, zinc, gold and nickel.

The information was submitted for publication, through the agency of the contact persons set out below on August 1, 2024 at 19:00 Eastern Time.

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein is forward-looking information within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; the Company's integration of acquisitions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as believe, expect, anticipate, contemplate, target, plan, goal, aim, intend, continue, budget, estimate, may, will, can, could, should, schedule and similar expressions identify forward-looking statements.