FOR:  LUNDIN MINING CORPORATION

TSX SYMBOL:  LUN

MARCH 8, 2005 - 10:49 ET

Lundin Mining Corporation: NAN Reports on Up-Dated 
Mineral Reserves for Storliden Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - Lundin 
Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN)(O-List 
Stockholmsborsen:LUMI) is pleased to announce that North Atlantic 
Natural Resources AB ("NAN") today reported that NAN has received an 
up-dated independent Mineral Reserve calculation for its Storliden Mine 
located in northern Sweden.

As of December 31, 2004, the Proven and Probable Mineral Reserves at the 
Storliden Mine were 844 thousand tonnes grading 10% zinc, 3.6% copper, 
0.3 grams per tonne gold and 25 grams per tonne silver. The Mineral 
Reserves were calculated by Mr. Adam Wheeler, an independent mining 
consultant based in Cornwall, England, according to the standards of 
Canadian National Instrument 43-101, for reporting Mineral Reserves and 
Mineral Resources.

The Mineral Reserves are reported separate from an additional 360,000 
tonnes of Measured and Indicated Mineral Resources.

/T/

                        Tonnes   Zinc   Copper    Gold   Silver
The Storliden Mine       (000s)    (%)      (%)   (g/t)    (g/t)
---------------------------------------------------------------
Mineral Reserves                                               
Proven                     726   10.3      3.6     0.3     25.0
Probable                   119    8.0      3.2     0.3     24.3
Total                      844   10.0      3.6     0.3     24.9
---------------------------------------------------------------
Mineral Resources                                              
Measured                   250    3.0      2.3     0.4     30.9
Indicated                  110    3.0      2.2     0.5     32.6
Total                      360    3.0      2.2     0.4     31.4
Inferred                    25    2.0      2.3     0.6     44.2
---------------------------------------------------------------

/T/

For the three years of production from June 2002 to December 2004, the 
Storliden Mine has produced a total of 752,000 tonnes of ore, with an 
average grade of 10.1% zinc and 3.6% copper. This has enabled the 
production of 128,500 tonnes of zinc concentrate and 86,500 tonnes of 
copper concentrate. A small amount of gold and silver has also been 
produced grading 0.6g/t Au and 34g/t Ag.

Adam Wheeler estimated the Mineral Resources and Mineral Reserves for 
Storliden from a database of diamond drillhole information collected by 
NAN, with input from Boliden and NAN geologists. The deposit has been 
defined by 583 drill holes. The overall mineral resource estimate 
employed a block model created in the Datamine software package. Grade 
interpolation was performed using the Inverse Power of Distance Squared 
(ID2) method for the following metals: copper, zinc, gold, silver.

The resource model calculations by Mr. Wheeler are based on an updated 
survey of mining operations as of December 31, 2004 and a cut-off value 
of SEK 150 per tonne based on a zinc price of USD 1,102 per tonne, a 
copper price of USD 2,491 per tonne, a gold price of USD 350 per ounce 
and a silver price of USD 5.00 per ounce. The minimum mining width was 5 
metres except for certain extremities of the ore deposit where 4 metres 
was used. Mining recovery varies from 100% to 95% and unplanned dilution 
as high as 8% has been applied, depending on the mining method proposed 
for each section of the orebody.

The Qualified Person under the auspices of the Canadian Institute of 
Mining, Metallurgy and Petroleum ("CIM") responsible for these 
calculations is Mr. Adam Wheeler, C. Eng, Eur. Ing, MIMM, an independent 
mining consultant. Adam Wheeler completed the majority of the initial 
geological modelling work during the first half of 2004. The updated 
resource and reserve estimation work was completed during February 2005. 
The work has been completed with assistance from both NAN and Boliden 
technical personnel. This work also involved numerous visits to the mine 
itself. For the development of the life-of-mine planning study, used in 
the calculation of reserves, Adam Wheeler was also assisted by Dr. R. 
Dowdell (C.Eng, MIMM), also an independent mining consultant based in 
Cornwall, England.

Lundin Mining is a Canadian mining and exploration company with a 
primary focus in Scandinavia. The main asset of the company is the 
Zinkgruvan mine, located about 200 kilometers southwest of Stockholm, 
Sweden. The mine has been producing zinc, lead and silver on a 
continuous basis since 1857. Zinkgruvan has consistently ranked in the 
lowest cost quartile among zinc mines in the world. Lundin Mining holds 
approximately74 percent of the shares of NAN, a mining and exploration 
company listed on the Stockholm Stock Exchange under the ticker symbol 
NAN. NAN's primary asset is the Storliden copper and zinc mine in the 
Skellefte District of northern Sweden, which has been in production 
since 2002. A public offer has been made for the remaining outstanding 
shares of NAN. 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-