FOR:  LUNDIN MINING CORPORATION

TSX SYMBOL:  LUN

APRIL 26, 2005 - 04:01 ET

Update Regarding the Recommended Merger Offer by
Lundin Mining Corporation for ARCON International
Resources P.l.c.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 26, 2005) - NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, THE UNITED STATES,
AUSTRALIA, SOUTH AFRICA OR JAPAN.

Lundin Mining Corporation ("Lundin Mining") (TSX:LUN)(Stockholmsborsen
O-list:LUMI) is pleased to announce that the shareholders of ARCON
International Resources P.l.c. ("ARCON") who accepted the previously
announced merger offer up to and including April 11, 2005, now have
received their consideration under the merger offer. The ARCON shares
tendered represented 84.06% of the outstanding shares of ARCON. Lundin
Mining has thereby acquired control over ARCON

Between April 12, 2005 and April 25, 2005, valid acceptances of the
merger offer were received in respect of 13,137,886 additional ARCON
shares. This represents, in aggregate, 91.61% approximately of ARCON's
current issued capital.

Lundin Mining has issued 4,686,504 shares and distributed EUR 41 million
(USD 53 million) in consideration for the initial 84.06% of the total
number of outstanding shares of ARCON acquired.

The acceptance period for the merger offer has been extended to May 9,
2005. Compulsory acquisition procedures for the remaining shares have
also been initiated.

ARCON has applied for the ARCON shares to be delisted from the Irish and
London Stock Exchanges on May 12, 2005.

A copy of the formal announcement in this regard made in Ireland today
is attached with this press release.

ON BEHALF OF THE BOARD

Karl-Axel Waplan

President and CEO

Lundin Mining is a Canadian mining and exploration company with a focus
in Europe. The Company is one of the world's leading producers of zinc.
The main asset of Lundin Mining 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. In the beginning of 2005, Lundin Mining
acquired the remaining outstanding shares of North Atlantic Natural
Resources AB (NAN). NAN's primary asset is the Storliden copper and zinc
mine in the Skellefte mining district of northern Sweden, which has been
in production since 2002. By acquiring ARCON International Resources
P.l.c. of Ireland, Lundin Mining added the Galmoy zinc-lead mine and an
extensive exploration acreage in the county of Kilkenny, Ireland to it's
existing portfolio. Lundin Mining also holds a large copper/gold
exploration project in the prolific Norrbotten mining district in
northern Sweden as well as exploration permits covering numerous
exploration targets in the historical Skellefte mining district of
northern Sweden.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, THE UNITED
STATES, AUSTRALIA, SOUTH AFRICA OR JAPAN.

26 April 2005

Recommended Merger Offer by Lundin Mining Corporation ("Lundin Mining")
for ARCON International Resources P.l.c. ("ARCON")

Extension of Merger Offer until 9 May 2005

The Directors of Lundin Mining announce that as at 3:00 p.m. (Dublin
time), on Monday, 25 April 2005, valid acceptances of the Merger Offer
had been received in respect of 159,354,205 ARCON Shares. This
represents, in aggregate, approximately 91.61 per cent of ARCON's
current issued share capital.

The Merger Offer has been extended for a further 14 days and will remain
open for acceptance until 3:00 p.m. (Dublin time), on Monday, 9 May 2005.

The Offeror has commenced the compulsory acquisition procedures provided
for in Section 204 of the Companies Act, 1963 to acquire any ARCON
Shares in respect of which valid acceptances are not received under the
terms of the Merger Offer. Notices to non-accepting ARCON Shareholders
were posted on 25 April 2005.

To ensure that ARCON Shareholders who have not yet accepted the Merger
Offer receive their proceeds of the Merger Offer at the earliest
possible date, they should complete and return the Form of Acceptance so
as to be received as soon as possible and by no later than 3:00 p.m.
(Dublin time), on Monday, 9 May 2005.

The consideration due under the Merger Offer in respect of acceptances
that have been received and are complete in all respects will be
dispatched within 14 days of receipt. The consideration due under the
Merger Offer in respect of further acceptances received up to 9 May,
2005 that are complete in all respects will be dispatched within 14 days
of receipt.

ARCON has applied to the relevant authorities for ARCON Shares to be
delisted and to the Irish and London Stock Exchanges for trading in
ARCON Shares to be cancelled, each with effect from the commencement of
trading on 12 May 2005.

Neither Lundin Mining nor any person deemed to be acting in concert with
Lundin Mining owned or controlled any ARCON Shares (or rights over such
shares) immediately before the commencement of the Offer Period or
during the Offer Period; and neither Lundin Mining nor any person deemed
to be acting in concert with Lundin Mining has acquired or agreed to
acquire ARCON Shares (or rights over such shares) during the Offer
Period.

The terms of the Merger Offer remain the same as set forth in the Offer
Document and related acceptance materials previously distributed to
ARCON Shareholders.

Terms used in this announcement have the same meaning as those contained
in the Offer Document.

/T/

For further information, contact:

Lundin Mining Corporation
Karl-Axel Waplan          +46 705 104 239
Sophia Shane              +1 604 689 7842

ARCON International Resources P.l.c.
Peter Kidney              +353 1 667 3063
(Independent Director)
James McCarthy            +353 1 283 7144
(Director)

Macquarie Bank Limited
(Financial Adviser to Lundin Mining)
Richard Gannon            +44 20 7065 2173

Davy Corporate Finance Limited
(Financial Adviser to the Independent Directors of ARCON)
Eugenee Mulhern           +353 1 679 6363

Murray Consultants
(Public relations adviser to ARCON)
Pauline McAlester         +353 1 498 0300

/T/

Macquarie Bank Limited, which is authorized and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for
Lundin Mining and no one else in connection with the Merger Offer for
ARCON and will not be responsible to anyone other than Lundin Mining for
providing the protections afforded to clients of Macquarie Bank Limited
or for giving advice in relation to the Merger Offer, the contents of
this Announcement or any transaction or arrangement referred to herein.

Davy Corporate Finance Limited, which is regulated in Ireland by the
Irish Financial Services Regulatory Authority, is acting for the
Independent Directors and for no one else in relation to the matters
described in this Announcement and will not be responsible to anyone
other than the Independent Directors for providing the protections
afforded to clients of Davy Corporate Finance Limited or for giving
advice in relation to the matter referred to in this Announcement.

The Directors of Lundin Mining accept responsibility for the information
contained in this Announcement. To the best of the knowledge and belief
of the Directors of Lundin Mining, who have taken all reasonable care to
ensure that such is the case, the information contained in this
Announcement for which they accept responsibility is in accordance with
the facts and, does not omit anything likely to affect the import of
such information.

This Announcement does not constitute an offer or an invitation to
purchase or subscribe for any securities and does not constitute an
offer of Lundin Mining Securities.

Unless otherwise determined by Lundin Mining, the Merger Offer has not
been, and is not being, made directly or indirectly in, into or from
Australia, Japan, South Africa, the United States or any other
jurisdiction where it would be unlawful to do so, or by the use of the
mails, or by any means or instrumentality (including, without
limitation, telephonically or electronically) of interstate or foreign
commerce, or by any facility of a national securities exchange of
Australia, Japan, South Africa, the United States or any other
jurisdiction where it would be unlawful to do so, and the Merger Offer
is not capable of acceptance by any such means, instrumentality or
facility from within Australia, Japan, South Africa, the United States
or any jurisdiction where it would be unlawful to do so. Accordingly,
unless otherwise determined by Lundin Mining, neither copies of this
Announcement nor any other documents related to the Merger Offer are
being, or may be, mailed or otherwise distributed or sent in, into or
from Australia, Japan, South Africa, the United States or any other
jurisdiction where it would be unlawful to do so and persons receiving
such documents (including custodians, nominees and trustees) must not
distribute or send them in, into or from Australia, Japan, South Africa,
the United States or any other jurisdiction where it would be unlawful
to do so, as doing so may invalidate any purported acceptance of the
Merger Offer. Notwithstanding the foregoing restrictions, Lundin Mining
reserves the right to permit the Merger Offer to be accepted, if in its
sole discretion, it is satisfied that the transaction in question is
exempt from or not subject to the legislation or regulation giving rise
to the restrictions in question.

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