Lundin Mining Provides 2024 Guidance & Announces 2023 Production Results

"Across our critical metals portfolio, the zinc expansion project at Neves Corvo, otherwise known as ZEP, is coming to fruition, leading to back-to-back quarterly record zinc production at this operation. At Zinkgruvan in 2023, improved recoveries from the sequential flotation project were achieved, however, a longer than anticipated ramp up resulted in a slight miss on guidance. Our nickel operation, Eagle, continues to perform and hit the upper end of guidance. "Across our critical metals...

VANCOUVER, BC, 15/01/2024 (informazione.news - comunicati stampa - industria)

Exploration expenditures are planned to be $48 million in 2024 primarily for in-mine and near-mine targets at our operations. The largest portion of the planned expenditure is to be at Caserones (12,900 meters), while at Josemaria, early exploration drilling (5,200 meters) on additional new targets is planned. The focus at Caserones will be deeper in-pit drilling to better define higher grade breccia zones and exploration drilling to test the sulphide mineral potential below the underlying Angelica oxide deposit. At Josemaria the exploration priority will be to test the Cumbre Verde target. At Chapada additional drilling at Sauva will continue to further define higher grade resources. At Zinkgruvan, the exploration campaign (55,000 meters) will target mineral extensions demonstrating grades of 10 - 20% zinc.

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 in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on January 14, 2024 at 18:00 Eastern Time .

Cash Cost and Sustaining and Expansionary Expenditures are non-GAAP financial measures and are not standardized financial measures under generally accepted accounting principles under IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies.

Stephen Williams , Vice President, Investor Relations: +1 604 806 3074; Robert Eriksson, Investor Relations Sweden: +46 8 440 54 50

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