Lundin Mining Announces Amendment to Credit Agreement to

Lundin Mining Announces Amendment to Credit Agreement to Increase
Facility to US$350 Million and Extend Term to 2015 
TORONTO, ONTARIO -- (Marketwire) -- 12/20/12 -- Lundin Mining
Corporation (TSX:LUN)(OMX:LUMI) ("Lundin Mining") is pleased to
announce that it has executed an amendment to its revolving credit
agreement (the "Amended Credit Agreement") that increases the amount
of its revolving credit facility (the "Facility") to US$350 million
from US$300 million, reduces the costs of borrowing and extends the
term of the Facility to December 2015. 
Two new banks were added to the syndicate of lenders and one
institution, which is no longer in the business of commercial
lending, exited. The continuing banks, which are comprised of
Scotiabank, the Sole Lead Arranger and Sole Bookrunner, ING Belgium
NV/SA and Bank of Montreal, the Co-Syndication Agents, Export
Development Canada, the Documentation Agent and Skandinaviska
Enskilda Banken AB as lender, are joined by Bank of America Merrill
Lynch and Royal Bank of Canada as lenders. 
Ms. Marie Inkster, Senior Vice President and Chief Financial Officer,
commented, "Under the terms of the amended Facility, the Company now
has the option to raise funds through the issue of high yield notes
or convertible debt. This provides the Company with the flexibility
to access significant levels of debt financing under the current
capital structure. 
"We are thankful for the ongoing support of the continuing lenders
and welcome our two new lenders," Ms. Inkster said. 
The revolving Facility will bear interest on US dollar denominated
drawn funds at rates of LIBOR+2.5% to LIBOR+3.25%, depending upon the
Company's leverage ratio. The Company can also borrow in Canadian
dollars or Euros at other varying rates. 
No advances are currently outstanding under the Facility other than a
letter of credit in the amount of US$12 million (SEK80 million). 
The Company's wholly-owned Portuguese subsidiary, Somincor, has also
finalized a renewal of that company's domestic Portuguese Commercial
Paper program. The program allows for the issuance of short term
notes up to an amount of EUR30 million. The program has been used
effectively in the past to manage working capital requirements and
provides additional financial flexibility for cap
ital management of
operations and new investments at the Neves-Corvo mine. The program
is underwritten by Santander Bank and drawn funds will bear interest
at Euribor +3.6%. No advances are currently outstanding. 
Lundin Mining has approximately US$300 million of cash on hand. 
About Lundin Mining 
Lundin Mining Corporation is a diversified Canadian base metals
mining company with operations in Portugal, Sweden, Spain and
Ireland, producing copper, zinc, lead and nickel. In addition, Lundin
Mining holds a development project pipeline which includes expansion
projects at Neves-Corvo and Zinkgruvan mines along with its equity
stake in the world class Tenke Fungurume copper/cobalt mine in the
Democratic Republic of Congo. 
On Behalf of the Board, 
Paul Conibear, President and CEO 
Forward Looking Statements 
Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario
Securities Act. Forward-looking statements are subject to a variety
of risks and uncertainties which could cause actual events or results
to differ from those reflected in the forward-looking statements,
including, without limitation, risks and uncertainties relating to
foreign currency fluctuations; risks inherent in mining including
environmental hazards, industrial accidents, unusual or unexpected
geological formations, ground control problems and flooding; risks
associated with the estimation of mineral resources and reserves and
the geology, grade and continuity of mineral deposits; the
possibility that future exploration, development or mining results
will not be consistent with the Company's expectations; the potential
for and effects of labour disputes or other unanticipated
difficulties with or shortages of labour or interruptions in
production; actual ore mined varying from estimates of grade,
tonnage, dilution and metallurgical and other characteristics; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; uncertain political and economic environments; changes
in laws or policies, foreign taxation, delays or the inability to
obtain necessary governmental permits; and other risks and
uncertainties, including those described under Risk Factors Relating
to the Company's Business in the Company's Annual Information Form
and in each management discussion and analysis. Forward-looking
information is in addition based on various assumptions including,
without limitation, the expectations and beliefs of management, the
assumed long term price of copper, nickel, lead and zinc; that the
Company can access financing, appropriate equipment and sufficient
labour and that the political environment where the Company operates
will continue to support the development and operation of mining
projects. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements.
Lundin Mining Corporation
Sophia Shane
Investor Relations North America
Lundin Mining Corporation
John Miniotis
Senior Business Analyst
Lundin Mining Corporation
Robert Eriksson
Investor Relations Sweden
+46 8 545 015 50
Press spacebar to pause and continue. Press esc to stop.