Lundin Mining Releases Updated Technical Report on Vicuña Resource

VANCOUVER, BC, June 16, 2025 /CNW/ - Lundin Mining Corporation (TSX: LUN, Nasdaq Stockholm: LUMI) has formally filed a comprehensive technical report detailing the mineral resource estimates for its Vicuña project, which includes the significant Filo del Sol and Josemaria deposits located in Argentina and Chile. This report, known as the 'NI 43-101 Technical Report on the Vicuña Project,' is effective from April 15, 2025, and follows an initial announcement made on May 4, 2025, regarding the project's mineral resource estimates.

The Vicuña project stands out as one of the largest copper, gold, and silver resources globally, ranking among the top ten mineral resources in major copper-producing mines. The project is also noted for being the largest greenfield copper discovery in the last 30 years, as highlighted in rankings by S&P Global. Lundin Mining holds this project in a joint arrangement with BHP, which fosters a strategic alliance aimed at developing a world-class mining district. The proximity of the Filo del Sol and Josemaria projects allows for shared infrastructure and increased efficiencies in resource extraction.

The technical report was prepared by a team of qualified professionals, including Luke Evans, M.Sc., P.Eng. from SLR Consulting (Canada) Ltd; Paul Daigle, P.Geo. from AGP Mining Consultants Inc.; Sean Horan, P.Geo. from Resource Modeling Solutions Ltd.; Jeffrey Austin, P.Eng. from International Metallurgical and Environmental Inc.; and Bruno Borntraeger, P.Eng. from Knight Piésold Ltd. These experts, compliant with the Canadian Securities Administrator's NI 43-101 standards, confirmed that the mineral resource estimates have not materially changed since the previous announcement.

According to the report, the Vicuña project is characterized by its substantial mineral wealth, which positions it favorably in the global mining landscape. Lundin Mining's forward-looking statements suggest a commitment to further development and exploration of the site, which could yield significant economic benefits. However, the company also acknowledges inherent risks associated with mining operations, such as geological uncertainties, environmental considerations, and regulatory challenges.

The Vicuña project, through its joint arrangement with BHP, aims to capitalize on synergies and economies of scale, enhancing the potential for future expansions. The collaborative effort not only aims to optimize resource extraction but also to establish a sustainable mining operation that aligns with environmental stewardship principles.

In conclusion, the updated technical report on the Vicuña project underscores Lundin Mining's strategic initiative to enhance its resource base and operational capabilities. As the mining industry continues to evolve, the development of the Vicuña project may serve as a benchmark for similar undertakings in the sector, reflecting both the challenges and opportunities that lie ahead. Stakeholders will be closely monitoring the progression of this project as Lundin Mining navigates the complexities of the mining landscape.