TORONTO, Dec. 20, 2021 /PRNewswire/ -- (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce it has entered into a definitive agreement (the "Arrangement Agreement") with Josemaria Resources Inc. ("Josemaria Resources") to acquire all of the issued and outstanding shares of Josemaria Resources through a plan of arrangement (the "Transaction") for an implied equity value of approximately C$625 million (US$485 million).

Lundin Mining will acquire 100% of the Josemaria copper-gold project located in the San Juan Province of Argentina (the "Josemaria project", "Josemaria" or the "project"). The world-class Josemaria project is a unique opportunity at an advanced stage with a clear path to production. With Josemaria, Lundin Mining positions itself as a major copper producer with a diversified portfolio of high-quality, long-life base metal assets.