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  Apr 12, 2005 - 03:18 ET
Proposed Merger of Lundin Mining Corporation and ARCON International Resources P.l.c.

 
NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  LUNDIN MINING CORPORATION

TSX SYMBOL:  LUN

APRIL 12, 2005 - 03:18 ET

Proposed Merger of Lundin Mining Corporation and ARCON 
International Resources P.l.c.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 12, 2005) - NOT FOR 
RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, THE UNITED STATES, 
AUSTRALIA, SOUTH AFRICA OR JAPAN.

Lundin Mining Corporation ("Lundin Mining" or the "Company") 
(TSX:LUN)(Stockholmsborsen O-list:LUMI) is pleased to announce that 
shareholders of ARCON Resources Plc. ("ARCON") holding 84.06% of the 
outstanding shares of ARCON have accepted Lundin Mining's previously 
announced merger offer and the offer has as result of this been declared 
unconditional.

A copy of the formal announcement in this regard made in Ireland today 
is attached with this press release.

Lundin Mining is pleased that it has been successful in adding the zinc 
and lead production from ARCON's principal asset, the Galmoy mine in 
Ireland to its existing production from the Zinkgruvan mine and the 
Storliden mine in Sweden. This further highlights the Company's growth 
strategy as a significant, low cost base metals producer with a focus in 
Europe.

Lundin Mining will now start a development program to optimize 
production from the Galmoy mine as well as an aggressive exploration 
program in this highly prospective area in the county of Kilkenny in 
Ireland.

"By merging with ARCON, Lundin Mining takes yet a major step towards 
becoming one of the world's leading producers of zinc and we are happy 
that the majority of the shareholders of ARCON accepted the offer. We 
are now looking forward to develop the full potential of the Galmoy 
mine", comments Mr. Lukas Lundin, chairman of Lundin Mining.

ON BEHALF OF THE BOARD

Edward F. Posey, President



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, THE UNITED 
STATES, AUSTRALIA, SOUTH AFRICA OR JAPAN

12 April 2005

Recommended Merger Offer by Lundin Mining Corporation ("Lundin Mining") 
for ARCON International Resources P.l.c. ("ARCON")

Merger Offer Unconditional in all respects, announcement of level of 
acceptances and extension of Merger Offer

The Directors of Lundin Mining announce that all of the conditions of 
the Merger Offer have now been satisfied or waived and, accordingly, the 
Merger Offer has been declared unconditional in all respects. As at 3:00 
p.m. (Dublin time), on Monday, 11 April 2005, the first closing date of 
the Merger Offer, valid acceptances of the Merger Offer had been 
received in respect of 146,216,319 ARCON Shares. This represents, in 
aggregate, approximately 84.06 per cent of ARCON's current issued share 
capital.

The Merger Offer has now been extended and will remain open for 
acceptance until 3:00 p.m. (Dublin time), on Monday, 25 April 2005.

To ensure that ARCON Shareholders who have not yet accepted the Merger 
Offer receive their proceeds of the Merger Offer at the earliest 
possible date, they should complete and return the Form of Acceptance so 
as to be received as soon as possible and by no later than 3:00 p.m. 
(Dublin time), on Monday, 25 April 2005.

The consideration due under the Merger Offer in respect of acceptances 
that have been received and are complete in all respects will be 
dispatched on or before Monday, 25 April 2005, and within 14 days of 
receipt in respect of further acceptances that are complete in all 
respects.

The Offeror intends to procure that ARCON applies to the relevant 
authorities for ARCON Shares to be delisted and to the Irish and London 
Stock Exchanges for trading in ARCON Shares to be cancelled no earlier 
than twenty business days from today and by no later than 12 May 2005.

The Offeror also intends to effect the compulsory acquisition procedures 
provided for in Section 204 of the Companies Act, 1963 to acquire any 
ARCON Shares in respect of which valid acceptances are not received 
under the terms of the Merger Offer. Notices to non-accepting ARCON 
Shareholders are expected to be posted by 25 April 2005.

Neither Lundin Mining nor any person deemed to be acting in concert with 
Lundin Mining owned or controlled any ARCON Shares (or rights over such 
shares) immediately before the commencement of the Offer Period or 
during the Offer Period; and neither Lundin Mining nor any person deemed 
to be acting in concert with Lundin Mining has acquired or agreed to 
acquire ARCON Shares (or rights over such shares) during the Offer 
Period.

The terms of the Merger Offer remain the same as set forth in the Offer 
Document and related acceptance materials previously distributed to 
ARCON Shareholders.

Terms used in this announcement have the same meaning as those contained 
in the Offer Document.

/T/

For further information, contact:

Lundin Mining Corporation
Karl-Axel Waplan         +46 705 104 239
Sophia Shane             +1 604 689 7842

Macquarie Bank Limited
(Financial Adviser to Lundin Mining)
Richard Gannon          +44 20 7065 2173

ARCON International Resources P.l.c.
Peter Kidney             +353 1 667 3063
(Independent Director)
James McCarthy           +353 1 283 7144
(Director)

Davy Corporate Finance Limited
(Financial Adviser to the Independent Directors of ARCON)
Eugenee Mulhern          +353 1 679 6363

Murray Consultants
(Public relations adviser to ARCON)
Pauline McAlester        +353 1 498 0300

/T/

Macquarie Bank Limited, which is authorized and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for 
Lundin Mining and no one else in connection with the Merger Offer for 
ARCON and will not be responsible to anyone other than Lundin Mining for 
providing the protections afforded to clients of Macquarie Bank Limited 
or for giving advice in relation to the Merger Offer, the contents of 
this Announcement or any transaction or arrangement referred to herein.

Davy Corporate Finance Limited, which is regulated in Ireland by the 
Irish Financial Services Regulatory Authority, is acting for the 
Independent Directors and for no one else in relation to the matters 
described in this Announcement and will not be responsible to anyone 
other than the Independent Directors for providing the protections 
afforded to clients of Davy Corporate Finance Limited or for giving 
advice in relation to the matter referred to in this Announcement.

The Directors of Lundin Mining accept responsibility for the information 
contained in this Announcement. To the best of the knowledge and belief 
of the Directors of Lundin Mining, who have taken all reasonable care to 
ensure that such is the case, the information contained in this 
Announcement for which they accept responsibility is in accordance with 
the facts and, does not omit anything likely to affect the import of 
such information.

This Announcement does not constitute an offer or an invitation to 
purchase or subscribe for any securities and does not constitute an 
offer of Lundin Mining Securities.

Unless otherwise determined by Lundin Mining, the Merger Offer has not 
been, and is not being, made directly or indirectly in, into or from 
Australia, Japan, South Africa, the United States or any other 
jurisdiction where it would be unlawful to do so, or by the use of the 
mails, or by any means or instrumentality (including, without 
limitation, telephonically or electronically) of interstate or foreign 
commerce, or by any facility of a national securities exchange of 
Australia, Japan, South Africa, the United States or any other 
jurisdiction where it would be unlawful to do so, and the Merger Offer 
is not capable of acceptance by any such means, instrumentality or 
facility from within Australia, Japan, South Africa, the United States 
or any jurisdiction where it would be unlawful to do so. Accordingly, 
unless otherwise determined by Lundin Mining, neither copies of this 
Announcement nor any other documents related to the Merger Offer are 
being, or may be, mailed or otherwise distributed or sent in, into or 
from Australia, Japan, South Africa, the United States or any other 
jurisdiction where it would be unlawful to do so and persons receiving 
such documents (including custodians, nominees and trustees) must not 
distribute or send them in, into or from Australia, Japan, South Africa, 
the United States or any other jurisdiction where it would be unlawful 
to do so, as doing so may invalidate any purported acceptance of the 
Merger Offer. Notwithstanding the foregoing restrictions, Lundin Mining 
reserves the right to permit the Merger Offer to be accepted, if in its 
sole discretion, it is satisfied that the transaction in question is 
exempt from or not subject to the legislation or regulation giving rise 
to the restrictions in question.

-30-


FOR FURTHER INFORMATION PLEASE CONTACT:

Lundin Mining Corporation
Karl-Axel Waplan
+46-705-10 42 39

or

Lundin Mining Corporation
Sophia Shane
+1-604-689-7842
+1-604-689-4250 (FAX)
www.lundinmining.com