Lorito Holdings S.à.r.l. and Zebra Holdings and Investments S.à.r.l. Transfer Shares of Lundin Mining Corp to Nemesia S.à.r.l.

LUXEMBOURG, LUXEMBOURG--(Marketwired - Jan. 27, 2017) - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that pursuant to a corporate reorganization, they have transferred to Nemesia S.à.r.l. ("Nemesia") 37,557,844 common shares and 54,964,854 common shares respectively of Lundin Mining Corp ("LMC" or the "Company") - (TSX:LUN)(OMX:LUMI) representing 12.78% of the outstanding shares of the Company to hold no common shares of LMC. Pursuant to the above referenced reorganization, Lorito and Zebra received Class C shares of Nemesia as consideration for the common shares of LMC and together own 100% of the outstanding Class C shares of Nemesia. The common shares of LMC had a deemed value of Cdn$8.07 for purposes of the reorganization.

Lorito and Zebra were joint actors with respect to their common shares of LMC which were acquired for investment purposes. Each of Lorito and Zebra may from time to time make a future investment in the common shares of LMC depending upon the business and prospects of the Company and depending upon future market conditions.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574