VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 30, 2004) - (LUN 
- TSX, LUMI - Nya Marknaden) Lundin Mining Corporation ("Lundin 
Mining" or the "Company") is pleased to announce the appointment 
of Mr. Lars-Gunnar Huldt as Finance Manager of the Company and 
Chief Financial Officer ("CFO') of its wholly-owned Swedish 
subsidiary Lundin Mining AB. Lundin Mining AB holds a 100% 
interest in the Zinkgruvan zinc, lead and silver mine in Sweden. 

Lars-Gunnar Huldt, a Swedish citizen born in 1954, holds a 
Master's Degree in Business and Economics from the University of 
Linkoping, Sweden. 

Mr. Huldt has worked as an Authorized Public Accountant with, 
amongst others, Ernst & Young where he was employed between 1990 
and 1997. 

For the last five years Mr. Huldt has been active as a management 
consultant to several large international companies in Sweden, 
among them the leading Nordic telecommunications operator Telia 
Sonera. Mr. Huldt also served as acting CFO in the merger between 
Swedish on-line stock brokers Teletrade and Nordnet in 2001. 

"We're delighted to have Lars-Gunnar Huldt join our team. Mr. 
Huldt is a highly qualified professional with considerable 
experience in accounting and financial management of 
international companies. With the acquisition of the Zinkgruvan 
Mine from Rio Tinto plc. in early July 2004, Lundin Mining is now 
a mid-tier base metals mining company with a focus in Sweden, and 
as such, it is natural for us to strengthen our financial staff 
at our Stockholm offices", comments Mr. Karl-Axel Waplan, 
Executive Vice President Operations of Lundin Mining. 

Lars-Gunnar Huldt will be based at Lundin Mining's offices in 
Stockholm, Sweden and joined the company as of August 1, 2004. 

Lundin Mining is a Canadian mining and exploration company with a 
primary focus in Scandinavia. The company recently completed a 
change of name - from South Atlantic Ventures Ltd. to Lundin 
Mining Corporation. The main asset of the company is the 
Zinkgruvan mine, located about 200 kilometres southwest of 
Stockholm, Sweden. The mine has been producing zinc, lead and 
silver on a continuous basis since 1857. Current production 
amounts to about 64,000 tonnes of zinc, 32,000 tonnes of lead and 
1.8 million ounces of silver per year. Lundin Mining holds 
approximately 37 percent of the shares of North Atlantic Natural 
Resources AB (NAN), a mining and exploration company listed on 
the Stockholm Stock Exchange under the ticker symbol NAN. North 
Atlantic's primary asset is the Storliden copper and zinc mine in 
the Skellefte District of northern Sweden, which has been in 
production since 2001.Lundin Mining also holds a large 
copper/gold exploration project in the prolific Norrbotten Mining 
District in northern Sweden. 

ON BEHALF OF THE BOARD 

Edward F. Posey, President 

-30-