Completed Initial MRE For The Filo Del Sol Deposit

VANCOUVER - Lundin Mining Corporation has completed an initial Mineral Resource estimate for the Filo del Sol sulphide deposit, an update to the Mineral Resource estimate for the Filo del Sol oxide deposit and an update to the Mineral Resource estimate for the Josemaria deposit.

Jack Lundin, President and CEO, said, "Filo del Sol has been one of the most significant greenfield discoveries in the last 30 years and an amazing journey for all those that have been involved. Congratulations to the Filo team for such a remarkable discovery and advancing the deposit to where it is today. The initial Mineral Resource has highlighted the potential for one of the highest grade undeveloped open pit copper projects in the world and one of the largest gold and silver resources globally. Filo del Sol and the Vicuña district are poised to develop into a world class deposit that will support a globally ranked mining complex.

"Highlighted is not only the size and scale of Vicuña but also the high-grade core of the deposits. At Filo del Sol there is over 600 Mt at 1.14% CuEq and at Josemaria almost 200 Mt at 0.73% CuEq. We see the potential for Vicuña to be not only a significant copper producer but also one of the world's largest gold and silver mines as well, with contained gold of 32 Moz M&I and 49 Moz Inferred along with contained silver of 659 Moz M&I and 808 Moz Inferred, a truly unique asset. Big deposits tend to get bigger and we see clear expansion potential to grow the resource.

The Mineral Resource is a key milestone and will form the basis for the integrated technical report that will outline a combined project, this report is on schedule for completion in the first quarter of 2026. We look forward to advancing Vicuña with our partner and together, aim to generate long-term value for our stakeholders."