The reserve estimates reported in this release have been prepared by Rio Tinto, using accepted industry practice and have been classified in accordance with the JORC Code. There are no material differences between the definitions of Proven and Probable Mineral Reserves under the applicable definitions adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM Definition Standards") and the corresponding equivalent definitions in the JORC Code for Proven and Probable Ore Reserves.
The Probable Ore Reserves have been calculated using Net Smelter Return (NSR) values. The NSR is calculated on a recovered payable basis taking into account nickel, copper, gold, platinum and palladium grades, metallurgical recoveries, prices and realization costs.
The Qualified Person for the scientific and technical information contained herein is Stephen Gatley, Vice President Technical Services, Lundin Mining. Mr. Gatley has reviewed and approved the contents of this news release. Mr. Gatley has verified the Probable Ore Reserves prepared by Rio Tinto and believes that the assumptions and parameters are reasonable and that there is sufficient data to support the estimate.
Eagle Conference Call and Webcast
Lundin Mining will hold a conference call and webcast on Thursday June 13th, 2013 at 8:45 am Eastern time. Details of the call are provided below:
Please call in 10 to 15 minutes before the conference starts and stay on the line (an operator will be available to assist you).
Call-in number for the conference call (North America): +1416-340-8527
Call-in number for the conference call (North America Toll Free): +1 877-240-9772
Call-in number for the conference call (Europe Toll Free): +00 800-2787-2090
To take part in the interactive presentation, please log on using this direct link: http://www.investorcalendar.com/IC/CEPage.asp?ID=171118
The presentation slideshow will also be available in PDF format for download from the Lundin Mining website www.lundinmining.com before the conference call.
A replay of the telephone conference will be available approximately one hour after the completion of the conference call until June 20, 2013.
Replay number in North America: +1 905 694 9451
North America (Toll Free) is: +1 800 408 3053
Europe (Toll Free) is: +00 800 3366 3052
The pass code for the replay is: 5231720
About Lundin Mining
Lundin Mining Corporation is a diversified base metals mining company with operations in Portugal, Sweden and Spain, producing copper, zinc, lead and nickel. In addition, Lundin Mining holds a 24% equity stake in the world-class Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo and in the Kokkola cobalt refinery located in Finland.
On Behalf of the Board,
Paul Conibear, President and CEO
Forward Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. 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 the estimated purchase price of the proposed transaction, the timing of closing the proposed transaction, estimated cash costs, the timing and amount of production from the Eagle Mine, the cost estimates for the Eagle Mine, 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.
Lundin Mining Corporation
Investor Relations North America
Lundin Mining Corporation
Senior Business Analyst
Lundin Mining Corporation
Investor Relations Sweden
+46 8 545 015 50
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