FOR:  LUNDIN MINING CORPORATION

TSX SYMBOL:  LUN

DECEMBER 30, 2004 - 09:00 ET

Lundin Mining Has Reached Agreement To Acquire All Of
Boliden's Shares In North Atlantic Natural Resources

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 30, 2004) - Lundin
Mining Corporation (TSX:LUN)(Stockholmsborsen's O-list:LUMI) ("Lundin
Mining" or the "Company") is pleased to announce that it has reached an
agreement ("Acquisition Agreement") to acquire all of Boliden Mineral
AB's ("Boliden") shares in North Atlantic Natural Resources AB ("NAN").

- Lundin Mining has reached an agreement to acquire all of Boliden's
11,537,000 shares in NAN, corresponding to 36.9 percent of the shares
and votes. Total consideration for all of Boliden's NAN shares amounts
to 2,176,800 newly issued Lundin Mining shares, corresponding to 6.7
percent of the shares and votes in Lundin Mining on an undiluted basis.
Applying the last price paid on Toronto Stock Exchange for Lundin
Mining's shares on December 29, 2004, of CAD 10.40 (SEK 56.32), the
total consideration for all of Boliden's NAN shares corresponds to SEK
122,588,669.

- Prior to the acquisition of Boliden's NAN shares, Lundin Mining holds
11,580,000 shares in NAN, corresponding to 37.1 percent of the shares
and votes. Following the acquisition, Lundin Mining holds 23,117,000
shares in NAN, corresponding to 74.0 percent of the shares and votes.

- A public offer in line with the Swedish Industry and Commerce Stock
Exchange Committee's (Naringslivets Borskommitte (NBK)) mandatory bid
rules is intended to be made to all remaining NAN shareholders in
January 2005.

A brief description of NAN's key assets

The main asset of NAN is the Storliden copper/zinc mine in the historic
Skellefte mining district of northern Sweden. The Storliden mine was
discovered in 1998 and put in production in 2002. During 2003, more than
333,000 tonnes of ore from Storliden was treated at the mill in the town
of Boliden some 90 kilometres from the mine. On average, the ore from
Storliden is grading 9.8 percent zinc and 3.5 percent copper as well as
0.3 grams per tonne gold and 25.4 grams per tonne silver. As of January
1, 2004, the Proved and Probable Ore Reserves at the Storliden Mine were
1,108,000 tonnes.

The Storliden deposit has been developed pursuant to a joint venture
agreement between NAN and Boliden whereby Boliden, inter alia, is acting
as main contractor and operator. Pursuant to the Acquisition Agreement,
Boliden has guaranteed the availability of the Boliden
mill/concentrator, throughout the life of the Storliden mine. In
addition, Boliden's right of first refusal to acquire any base metal
deposit found by NAN will cease following the acquisition of Boliden's
shares in NAN.

In addition to Storliden, NAN holds exploration permits covering several
areas in and around the Skellefte mining district. During the fall of
2004, NAN initiated an exploration programme focusing on several
prospective targets. Drilling in the immediate area surrounding the
Storliden mine is aimed at extending the life of the mine. Immediately
south of the Skellefte mining district is the Lappvattnet copper-nickel
prospect within a prolific mineralized area known as the "Nickel Belt".
A further area being explored during the coming months is the
Copperstone copper project in the northern part of the Skellefte
district.

Other information

Lundin Mining's President, Edward F. Posey, serves as President of NAN
and the Company's Executive Vice President Operations, Karl-Axel Waplan,
serves as a deputy board member of NAN. The Chairman of Lundin Mining,
Lukas H. Lundin, serves as a board member of NAN.

This press release also constitutes a disclosure notice from Lundin
Mining.

Advisor

E. Ohman J:or Fondkommission AB is Lundin Mining's financial advisor in
conjunction with the acquisition of shares in NAN and in the intended
subsequent public offer.

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
approximately 37 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. Lundin Mining also holds a large copper/gold exploration
project in the prolific Norrbotten Mining District in northern Sweden.


ON BEHALF OF THE BOARD

"LUKAS H. LUNDIN"

Chairman

This press release does not constitute or form part of an offer or
solicitation of an offer to purchase, sell or subscribe for any Ordinary
Shares in the form of Ordinary Shares or SDRs.

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