Lundin Mining Corporation executed a fourth amended and restated credit agreement that increases its revolving credit facility to $1.75 billion, reduces the cost of borrowing, and extends the term to April 2027, from August 2023.

Ms. Jinhee Magie, Senior Vice President and Chief Financial Officer, commented, "With this low-cost facility and our current net cash position, Lundin Mining maintains significant financial liquidity and flexibility as we look towards the anticipated development of Josemaria and growth projects of our current operations. We thank our lenders for their continuing support."

This amendment and restatement provides the Company with more favourable covenants, reduced security on assets, and includes additional customary revisions. The Credit Facility is unsecured, save and except for a charge over certain assets in the United States of America. The amended Credit Facility bears interest on US dollar denominated drawn funds at rates of Term Secured Overnight Financing Rate ("Term SOFR") + Credit Spread Adjustment ("CSA") + 1.45% to Term SOFR+CSA+2.50% depending upon the Company's net leverage ratio, reduced from LIBOR+1.75% to LIBOR+2.75%, previously.

The Bank of Nova Scotia, ING Capital LLC and BMO Capital Markets have acted as Joint Lead Arrangers and Joint Bookrunners. The Bank of Nova Scotia continues as the Administrative Agent, ING Capital LLC as the Syndication Agent and Bank of Montreal as the Documentation Agent, in the syndicate along with Bank of America N.A., Canada Branch, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and The Toronto-Dominion Bank as lenders.