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  Jul 20, 2007 - 02:30 ET
Lundin Mining Announces Over 85% of Rio Narcea Shares Now Tendered to Bid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2007) - Lundin Mining Corporation (TSX:LUN)(AMEX:LMC)(OMX:LUMI) ("Lundin Mining" or the "Company") is pleased to announce that 145,216,349 shares of Rio Narcea Gold Mines, Ltd. ("Rio Narcea"), representing approximately 85.8% of the Rio Narcea shares outstanding, have now been tendered to Lundin Mining's amended offer, as announced on June 29, 2007 and extended on July 17, 2007. In addition, 16,191,820 share purchase warrants have now been deposited to the amended offer representing 73.3% of the warrants. In combination, the shares and warrants tendered under the offer total approximately 84.1% of the fully diluted shares outstanding. Under the terms of the amended offer, Rio Narcea shareholders and warrant holders will receive Cdn$5.50 for each share and Cdn$1.04 for each warrant tendered to the bid. The amended offer expires at 6:00 p.m. Pacific Time on August 10, 2007.

Lundin Mining, through its wholly-owned subsidiary, has taken up all of the Rio Narcea shares and warrants that have been tendered to the offer as at July 17, 2007. The Company would like to thank the Rio Narcea shareholders that have tendered for their support and would encourage those shareholders who have not yet tendered their shares or warrants to do so as soon as practicable in order to receive their cash proceeds as quickly as possible.

About Lundin Mining

Lundin Mining is a rapidly growing mining and exploration company engaged in the extraction, development, acquisition and discovery of base metal deposits internationally. The company currently owns four operating mines: Neves-Corvo in Portugal, the Zinkgruvan and Storliden mines in Sweden, and the Galmoy mine in Ireland. A fifth mine under development, the Aljustrel mine in Portugal, will be brought into production in the third quarter of 2007. In addition, the Company holds an extensive exploration portfolio as well as interests in international ventures and development projects including the world class Tenke Fungurume copper/cobalt project in the DRC and the Ozernoe zinc project in Russia.

Forward Looking Statement

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 companies' 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 and zinc; that the companies can access financing, appropriate equipment and sufficient labour and that the political environment where the Companies operate 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
Catarina Ihre
Manager, Investor Relations


Lundin Mining Corporation
Sophia Shane
Investor Relations, North America
(604) 689-7842
(604) 689-4250 (FAX)