<p>
<strong>Toronto, April 29, 2011 (TSX: LUN; NASDAQ OMX: LUMI)</strong> in
response to recent speculation concerning the company <strong>Lundin Mining
Corporation</strong> (“Lundin Mining” or the
“Company”), reiterates its previous announcement that it is
undertaking a strategic process to explore options to create shareholder value
and shareholders will be advised of any material developments in this regard.
 There is no assurance that the strategic process will result in Lundin
Mining entering into or consummating any transaction.</p>
<p>
<strong>About Lundin Mining</strong></p>
<p>
Lundin Mining Corporation is a diversified base metals mining company with
operations in Portugal, Sweden, Spain and Ireland, producing copper, zinc, lead
and nickel. In addition, Lundin Mining holds a development project pipeline
which includes an expansion project at its Neves‐Corvo mine along with
its equity stake in the world class Tenke Fungurume copper/cobalt mine in the
Democratic Republic of Congo.</p>
<p>
On Behalf of the Board,</p>
<p>
Phil Wright</p>
<p>
President and CEO</p>
<p>
For further information, please contact:</p>
<p>
Sophia Shane, Investor Relations North America: +1-604-689-7842</p>
<p>
John Miniotis, Senior Business Analyst: +1-416-342-5560</p>
<p>
Robert Eriksson, Investor Relations Sweden: +46 8 545 015 50</p>
<p>
 </p>
<p>
<strong>Forward Looking Statements</strong></p>
<p>
Certain of the statements made and information contained herein is
“forward-looking information” within the meaning of the Ontario
Securities Act or “forward-looking statements” within the meaning
of Section 21E of the Securities Exchange Act of 1934 of the United States.
Forward-looking statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those reflected in
the forward-looking statements, including, without limitation, risks and
uncertainties relating to foreign currency fluctuations; risks inherent in
mining including environmental hazards, industrial accidents, unusual or
unexpected geological formations, ground control problems and flooding; risks
associated with the estimation of mineral resources and reserves and the
geology, grade and continuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent with the
Company’s expectations; the potential for and effects of labour disputes
or other unanticipated difficulties with or shortages of labour or
interruptions in production; actual ore mined varying from estimates of grade,
tonnage, dilution and metallurgical and other characteristics; the inherent
uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; uncertain political and
economic environments; changes in laws or policies, foreign taxation, delays or
the inability to obtain necessary governmental permits; and other risks and
uncertainties, including those described under Risk Factors Relating to the
Company’s Business in the Company’s Annual Information Form and in
each management discussion and analysis. Forward-looking information is in
addition based on various assumptions including, without limitation, the
expectations and beliefs of management, the assumed long term price of copper,
nickel, lead and zinc; that the Company can access financing, appropriate
equipment and sufficient labour and that the political environment where the
Company operates will continue to support the development and operation of
mining projects. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements.
Accordingly, readers are advised not to place undue reliance on forward-looking
statements.</p>
<p>
 </p>
<p>
 </p>
