Ellegrove Capital Ltd.

August 28, 2007 14:19 ET

Ellegrove Capital Ltd.: Press Release

ST. MICHAEL, BARBADOS--(Marketwire - Aug. 28, 2007) - Ellegrove Capital Ltd. ("Ellegrove"), a Barbados resident company, through its joint actors, announces that it has acquired 8,000,000 common shares of Lundin Mining Corporation ("Lundin Mining").

As a result of this acquisition, Ellegrove together with its joint actors, hold as at the date hereof, an aggregate of 59,614,854 common shares which aggregate holdings represent approximately 15.2% of the issued and outstanding shares of Lundin Mining.

Ellegrove and its joint actors acquired the securities of Lundin Mining for investment purposes only and not for the purpose of influencing control or direction over Lundin Mining. Ellegrove and its joint actors will, however, review its holdings in Lundin Mining from time to time and may increase or decrease its position as future circumstances dictate.

Ellegrove is owned by a trust whose settlor is the Estate of Adolf H. Lundin.

ELLEGROVE CAPITAL LTD.

Authorized Representative

Contact Information

  • Ellegrove Capital Ltd.
    Aksel Azrac
    +41 22 708 33 13