Toronto, November 21, 2008—Shearman & Sterling represented Lundin Mining Corporation in connection with its business combination with HudBay Minerals Inc. The combination is valued at approximately C$834 million. Upon completion of the transaction, Lundin will become a wholly-owned subsidiary of HudBay. The combined company is expected to be the second largest base metals producer in Canada.

HudBay, a Canadian company listed on the Toronto Stock Exchange (“HudBay”), is an integrated mining company which operates zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan; a zinc oxide production facility in Ontario; and the White Pine Copper Refinery in Michigan, and owns the Fenix nickel project in Guatemala. In addition to its primary products, HudBay also produces gold, silver and zinc oxide.

Lundin Mining Corporation, Canadian company listed on the New York Stock Exchange, the Toronto Stock Exchange and the OMX Nordic Exchange ("Lundin"), is a base metals mining company with operations in Portugal, Spain, Sweden and Ireland, producing copper, nickel, lead and zinc. Lundin Mining is also a partner in the Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo.

For additional information contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |