Lundin Mining Corporation

Galmoy, Ireland

Galmoy

Summary Report

Zinc Mine


The Galmoy underground zinc mine is located in south-central Ireland in County Kilkenny. Operational mining was originally planned to cease in May 2009 but due to positive market factors the mining of remnant high grade ore has continued on a reduced basis. This ore is being shipped to an adjacent mine for processing.

Mining of residual ores is expected to cease during the first quarter of 2012. The mine closure plan has been approved by regulatory authorities and remains on schedule to be completed prior to the end of 2012.

Galmoy Mine

Location South-central Ireland in County Kilkenny. Production tonnage is based on a 50% attributable-share to Lundin Mining
Ownership 100%
Type of ore body Irish style, carbonate hosted, zinc and lead mineralization
Primary metal Zinc
Secondary metal Lead, silver
2P reserves 0.2mt @ 16.4% Zn, 6.1% Pb, 55.0 g/t Ag
Type of mine Underground
Mine facilities and method Conveyor ramp accessing mine. Mining based on primary and secondary stoping
Processing facilities Remnant high-grade ore is being extracted and shipped to an adjacent mine for processing
End product Ore
Expected mine life 2 years
Employees 45 full time employee equivalents
Potential growth Mine is in closure mode with remnant ore being extracted
2011 Targets
Production Zinc
Lead
Cash costs USc/lb
31,000 tonnes contained in ore
8,000 tonnes contained in ore
Not guided
Production tonnage is based on a 50% attributable-share
Click here to see full Reserves and Resources statement

Quarterly Operations Update