Lundin Mining Corporation
TSX : LUN

Lundin Mining Corporation

October 19, 2006 14:00 ET

Lundin Mining Shareholders Approve Merger With EuroZinc

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 19, 2006) - Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN)(O-List SSE:LUMI) is pleased to announce that shareholders at the Special Meeting of Shareholders held in Vancouver today, October 19, 2006, approved the merger between Lundin Mining and EuroZinc Mining Corporation ("EuroZinc").

All resolutions as fully described in the Management Information Circular were approved, namely;

- As an ordinary resolution, the issuance of up to approximately 54,734,559 common shares of Lundin Mining in connection with the business combination transaction involving Lundin Mining and EuroZinc.

- As a special resolution, conditional upon the completion of the business combination transaction involving Lundin Mining and EuroZinc Mining Corporation, the increase in the number of directors of the Lundin Mining board of directors from a maximum of 9 directors to a maximum of 10 directors.

- As an ordinary resolution, to increase the number of options that may be issued under Lundin Mining's stock option plan from 3,000,000 to 7,000,000.

- As a special resolution, the subdivision, on a three-for-one basis, of Lundin Mining's fully paid and issued common shares. The timing of the implementation of the subdivision of the shares will be determined by the Board of Directors of Lundin Mining and a press release outlining the timing and details of the subdivision will be issued prior to such implementation.

- To appoint PricewaterhouseCoopers LLP, Chartered Accountants, as Auditors of Lundin Mining until the next Annual Meeting of the Shareholders of Lundin Mining, at a remuneration to be fixed by the directors of Lundin Mining.

EuroZinc has scheduled a Special Shareholders' Meeting to be held on Thursday, October 19, 2006 at 2:00 p.m. (Vancouver time). Shareholders will be asked to consider and approve a proposed Plan of Arrangement involving EuroZinc and Lundin Mining.

Should shareholders in both Lundin Mining and EuroZinc approve the transaction, closing is expected at end of October 2006.

ON BEHALF OF THE BOARD

Karl-Axel Waplan, President and CEO


Contact Information

  • Lundin Mining Corporation
    Karl-Axel Waplan
    President & CEO
    +46-705-10 42 39
    or
    Lundin Mining Corporation
    Catarina Ihre
    Manager, Investor Relations
    +46 70 607 92 63
    or
    Lundin Mining Corporation
    Sophia Shane
    Investor Relations - North America
    (604) 689-7842
    (604) 689-4250 (FAX)
    Website: www.lundinmining.com