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  Mar 31, 2005 - 08:32 ET
Lundin Mining Reports on Up-dated Mineral Reserves for the Zinkgruvan Mine

 
NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  LUNDIN MINING CORPORATION

TSX SYMBOL:  LUN

MARCH 31, 2005 - 08:32 ET

Lundin Mining Reports on Up-dated Mineral Reserves for 
the Zinkgruvan Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2005) - Lundin 
Mining Corporation (TSX:LUN)(O-List Stockholmsborsen:LUMI) ("Lundin 
Mining" or the "Company") is pleased to announce it has received an 
up-dated Mineral Reserve calculation for its Zinkgruvan Mine located in 
southern Sweden.

As of December 31, 2004, the Proven and Probable Mineral Reserves at the 
Zinkgruvan Mine were 8.81 million tonnes grading 9.9% zinc, 4.8% lead, 
and 101 grams per tonne silver. The Mineral Reserves were calculated by 
the Zinkgruvan Mine staff according to the rules of Canadian National 
Instrument 43-101, for reporting Mineral Reserves and Mineral Resources.

The Mineral Reserves are reported separate from Mineral Resources.

/T/

                                  Tonnes     Zinc   Lead   Silver
The Zinkgruvan Mine                (000s)     (%)    (%)    (g/t)
------------------------------------------------------------------
Mineral Reserves
Proven
 Nygruvan                          1,702     12.6    3.4      64
 Knalla                            5,481      9.2    5.8     122
 Total                             7,183     10.0    5.3     109
Probable
 Nygruvan                            923     11.4    2.6      62
 Knalla                              704      6.5    2.9      75
 Total                             1,627      9.3    2.8      68
Total Proven and Probable          8,810      9.9    4.8     101
------------------------------------------------------------------
Mineral Resources
Measured
 Nygruvan                            551      6.7    0.9      25
 Knalla                              518      9.0    2.2      43
 Total                             1,069      7.8    1.5      34
Indicated
 Nygruvan                            410     12.5    1.7      57
 Knalla                              634      7.5    4.5      98
 Total                             1,044      9.5    3.4      82
Total Measured and Indicated       2,113      8.6    2.5      58
Inferred
 Nygruvan                            275     12.9    6.5      97
 Knalla                            7,889      9.8    4.1     101
Total Inferred                     8,164      9.9    4.2     101
------------------------------------------------------------------

/T/

The Mineral Reserves and Resources of the Zinkgruvan Mine are based on a 
database consisting of approximately 2000 drill holes. The main part of 
the Mineral Reserve was calculated using a block model employing the 
ordinary Kriging Method. The Mineral Resource calculation employed 
mainly the Polygon Method. An economic cut-off value of 250 SEK (Swedish 
Kronor) was used when converting Mineral Resources to Mineral Reserves. 
For the Burkland deposit in the Knalla area of the mine a mining 
recovery of 95% was used with 3% mining loss, 12% wall-rock and 3% 
backfill dilution. For the remaining Nygruvan deposit, a mining recovery 
of 95% was used with 5% mining loss and 20-25% dilution.

A copper deposit exists In the structural hanging wall of the Burkland 
ore deposit consisting of copper in the form of disseminated and 
stockwork chalcopyrite hosted in dolomitic marble. The resource estimate 
for this deposit is calculated as:

/T/

                                  Tonnes   Copper  Zinc   Lead   Silver
The Zinkgruvan Mine Copper Deposit (000s)    (%)    (%)    (%)   (g/t)
-----------------------------------------------------------------------
Mineral Resource
Indicated
 Knalla                            2,707     3.1    0.5    0.0     48
Inferred
 Knalla                              850     3.3    0.2    0.0     41
-----------------------------------------------------------------------

/T/

The Company reports that 20,000 meters of underground drilling is 
planned for 2005, part of which will be used to define additional 
Mineral Resources as well as convert existing Mineral Resources to the 
Mineral Reserve category. In order to complete this drilling an 
additional 190 meters of underground development will be completed to 
provide appropriate drill stations.

The Qualified Persons responsible for the Zinkgruvan Mineral Reserve and 
Resource calculations were Per Hedstrom and Lars Malmstrom, members of 
the Zinkgruvan Mine staff and members the Australian Institute of Mining 
and Metallurgy.

Lundin Mining is a Canadian mining and exploration company with a 
primary focus in Scandinavia. The main asset of the company is the 
Zinkgruvan mine, located about 200 kilometers southwest of Stockholm, 
Sweden. The mine has been producing zinc, lead and silver on a 
continuous basis since 1857. Zinkgruvan has consistently ranked in the 
lowest cost quartile among zinc mines in the world. Lundin Mining holds 
more than 95 percent of the shares of the mining and exploration company 
North Atlantic Natural Resources AB (NAN). NAN's primary asset is the 
Storliden copper and zinc mine in the Skellefte District of northern 
Sweden, which has been in production since 2002. A public offer has been 
made for the remaining outstanding shares of NAN. Lundin Mining also 
holds a large copper/gold exploration project in the prolific Norrbotten 
Mining District in northern Sweden.

ON BEHALF OF THE BOARD

Edward F. Posey, President

-30-


FOR FURTHER INFORMATION PLEASE CONTACT:

Lundin Mining Corporation
Sophia Shane
Investor Relations North America
(604) 689-7842

or

Lundin Mining Corporation
Robert Eriksson
Investor Relations Europe
+46-8-545-07470
www.lundinmining.com