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  Nov 19, 2007 - 09:30 ET
Lundin Mining Drills 45.8 Metres of 1.23% Ni and 0.95% Cu at the Aguablanca Mine

 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN)(NYSE:LMC)(OMX:LUMI) is pleased to announce the following drilling results from the Aguablanca mine.

Resource Expansion and Underground Mining Potential Confirmed

Underground drilling at the Company's 100% owned Aguablanca mine in southern Spain continues to extend the strike length of the high grade Deep Body sulphide mineralization, confirming the potential for a significant increase in the mine's resource base and for the expansion of the current open pit production with underground reserves. The Deep Body has been extended by 75 metres (from section 7375E to section 7450E) since the latest announcement (June 5, 2007; Rio Narcea Gold Mines press release) and remains open down dip and to the east.

Intersections from recently-completed step-out holes include:

- 17.95 m at 1.04% Ni and 0.72% Cu in hole AGU-1098;

- 7.85 m at 1.21% Ni and 0.65% Cu in hole AGU-1095 and

- 7.00 m at 1.76% Ni and 0.72% Cu in hole AGU-1083.

In addition to the step-out drilling, several infill holes have also been completed on the Deep Body. This infill program has encountered some of the best intersections ever drilled in the Aguablanca deposit, such as:

- 57.3 metres at 0.91% Ni and 0.84% Cu in hole 1078 and;

- 45.8 metres at 1.23% Ni and 0.95% Cu in hole 1087.

Selected drill intersections since the last press release are presented below (using a 0.5% Ni cut off):



True
From To Interval Thickness Ni Cu
Drillhole (m) (m) (m) (m) % %
1078 155.70 213.00 57.30 45.00 0.91 0.84
1079 151.20 185.30 34.10 33.00 1.05 0.91
1080 142.00 194.50 52.50 50.00 0.75 0.80
1083 209.70 216.70 7.00 7.00 1.76 0.72
1084 173.10 187.00 13.90 13.00 1.06 0.85
1086 212.70 232.35 19.65 15.00 0.92 0.56
1087 171.20 217.00 45.80 40.00 1.23 0.95
1090 179.60 219.00 39.40 37.00 0.73 0.80
1095 192.55 200.40 7.85 7.00 1.21 0.65
1096 153.55 192.55 39.00 38.00 0.73 0.92
1098 188.40 206.35 17.95 17.00 1.04 0.72

 


A complete summary table showing all the 2007 drilling results together with sections and level maps will be available on the Company's website at www.lundinmining.com.

The Deep Body is an east-west trending, steeply dipping zone of sulphide mineralization that is interpreted to be the down-plunge extension of the Main Orebody, which is currently being mined by open-pit methods. It represents a continuous zone of mineralization that includes semi-massive and massive sulphide mineralized intervals enclosed in an envelope of strongly disseminated sulphide mineralization. Average true thickness is estimated to be around 20 metres.

Three drill rigs are currently conducting infill and step-out drilling in the eastern part of the Deep Body where the limits of the mineralization have not yet been defined. Infill drilling is typically done on a 25x25 metre drill pattern and step-out holes are greater than 50 metres from known mineralization.

The company has to date in 2007 completed 14,725 metres of drilling in 50 drill holes most of them focused on the delineation and resource definition of the Deep Body.

A 2,478 line km VTEM airborne survey was carried out in October, covering six separate project areas and including a total of 635 line km in the vicinity of the Aguablanca mine. Preliminary results indicate the presence of several discrete conductors which will be drill tested in 2008.

Neil O'Brien, Senior Vice President of Exploration and Business Development commented "These results only confirm to me why we acquired Aguablanca - great assets always have room to grow. Our exploration team in Spain is second to none in the nickel business. I look forward to the next round of results."

Drill core was logged, split and sampled by Company personnel at its facilities at the Aguablanca mine. Mineralized intervals are analyzed for Ni, Cu and Co at the Aguablanca laboratory using conventional atomic absorption methods. Subsequently, to comply with a duplicate check assaying program, all mineralized intervals with Ni values above or close to 0.5% are sent to the Omac laboratories to analyze by ICPORE a total of 19 elements including Ni, Cu and Co. Gold, platinum and palladium are also analyzed at Omac by Lead Fire Assay (30gm) with ICP finish. Luis Pevida, EurGeol, Chief Geologist Nickel, is the acting Qualified Person as according to NI43-101 regulations.

About Lundin Mining

Lundin Mining is a rapidly growing mining and exploration company engaged internationally in the extraction, development, acquisition and discovery of base metal deposits. The company currently owns five operating mines, extracting copper, zinc, lead, nickel and silver: Neves-Corvo in Portugal, the Zinkgruvan and Storliden mines in Sweden, the Galmoy mine in Ireland and the recently acquired Aguablanca mine in Spain. A further mine, the Aljustrel mine in Portugal, is under development and will be brought into production in the fourth quarter 2007. In addition, Lundin Mining holds an extensive exploration portfolio, including interests in international ventures and development projects such as the world class Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo, which is currently under construction and the Ozernoe zinc project under detailed feasibility study in Russia.

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.

NOTE: To view the diagram associated with this release, please click the following link:http://www.ccnmatthews.com/docs/lun1119a.pdf

NOTE: To view the maps associated with this release, please click the following link:http://www.ccnmatthews.com/docs/lun1119maps.pdf 


FOR FURTHER INFORMATION PLEASE CONTACT:

Lundin Mining Corporation
Neil O'Brien
Senior Vice President Exploration and Business Development
(778) 991-4714

or

Lundin Mining Corporation
Catarina Ihre
Manager, Investor Relations
+46-70-607-9263

or

Lundin Mining Corporation
Sophia Shane
Investor Relations, North America
(604) 689-7842
Website: www.lundinmining.com