Copper		December 31, 2008					December 31, 2007
		Tonnes	Cu	Zn	Pb	Ni	Tonnes	Cu	Zn	Pb	Ni
		'000s	%	%	%	%	'000s	%	%	%	%
Neves-Corvo	Portugal	17,290	4.1	0.9	0.3	-	17,714	4.4	0.9	0.2	-
Zinkgruvan	Sweden	2,895	2.6	0.5	0.0	-
Total Proven + Probable		20,185	3.9	0.9	0.2	-	17,714	4.4	0.9	0.2	-
Zinc
Neves-Corvo	Portugal	55,871	0.4	6.5	1.6	-	33,511	0.4	6.6	1.5	-
Zinkgruvan	Sweden	10,762		9.4	4.7	-	10,555	-	9.9	4.9	-
Galmoy	Ireland	1,230		15.8	4.4	-	2,020	-	15.8	4.4	-
Total Proven + Probable		67,863	0.3	7.1	2.1	-	46,086	0.3	7.8	2.4
Nickel
Aguablanca	Spain	9,038	0.5	-	-	0.6	10,676	0.5	-	-	0.6

Note: In addition to wholly owned reserves shown in the above table, Lundin Mining has a 24.75% equity interest in the Tenke Fungurume Project ("Tenke") in the Democratic Republic of Congo. Tenke Proven and Probable Reserves, as estimated by the operator Freeport-McMoRan Copper and Gold Company ("Freeport"), are 119.5 million tonnes grading 2.64% total copper and 0.35% total cobalt. These reserves were prepared by Freeport to SEC standards and reviewed by Lundin Mining's independent qualified persons.
 
NEVES-CORVO, PORTUGAL

Highlights

• Copper Proven and Probable reserve tonnages were largely replaced by infill drilling.
• Zinc Measured and Indicated resources have increased by 30% or 17 million tonnes. The majority of this increase comes from the newly discovered Lombador East deposit which remains open both up and down dip.
• Zinc Proven and Probable reserve tonnage increased by a further 67% with increases largely in the Lombador South and Neves South deposits.

Category	December 31, 2008				December 31, 2007
	Tonnes	Cu	Zn	Pb	Tonnes	Cu	Zn	Pb
	'000s	%	%	%	'000s	%	%	%
Mineral Reserves
Proven, Copper	16,701	4.1	1.0	0.3	17,184	4.4	0.9	0.2
Probable, Copper	589	3.1	0.7	0.3	530	2.8	0.2	0.3
Proven + Probable Copper	17,290	4.1	0.9	0.3	17,714	4.4	0.9	0.2
Proven, Zinc	52,500	0.4	6.5	1.5	19,072	0.4	6.1	1.2
Probable, Zinc	3,370	0.3	7.0	2.0	14,439	0.4	7.3	1.9
Proven + Probable Zinc	55,871	0.4	6.5	1.6	33,511	0.4	6.6	1.5
Mineral Resources
Measured, Copper	23,269	4.2	1.1	0.3	19,239	5.1	1.0	0.3
Indicated, Copper	1,114	3.3	0.9	0.4	1,198	4.0	1.2	0.3
Measured + Indicated Copper	24,383	4.2	1.1	0.3	20,437	5.1	1.0	0.3
Measured, Zinc	69,441	0.4	6.4	1.5	38,657	0.5	5.7	1.1
Indicated, Zinc	4,007	0.4	7.2	2.0	17,855	0.4	7.4	1.9
Measured + Indicated Zinc	73,449	0.4	6.5	1.5	56,512	0.5	6.2	1.4
Inferred, Copper	6,821	2.8	1.0	0.4	3,338	3.4	0.8	0.2
Inferred, Zinc	23,217	0.4	5.1	1.4	20,456	0.5	4.6	1.4

The 2008 and 2008 Neves-Corvo Mineral Resources are inclusive of Mineral Reserves. The 2007 and 2008 Mineral Resources were reported above cut-off grades of 1.0% for copper and 3.0% for zinc. The 2007 Mineral reserves have been calculated at a cut-off of 1.6% for copper and 4.6% for zinc. The 2008 Mineral reserves have been calculated at a cut-off of 1.6% for copper and 4.3% for zinc
 
ZINKGRUVAN, SWEDEN

Highlights

• New Probable copper reserve estimated at 2.9million tonnes at 2.6%Cu. First copper production from the copper expansion at Zinkgruvan is expected in 2011.
• Zinc-lead-silver ore depletion was replaced with Proven and Probable Reserve tonnage and Measured and Indicated tonnage increasing by 2 and 3% respectively

Category	December 31, 2008					December 31, 2007
	Tonnes	Zn	Pb	Ag	Cu	Tonnes	Zn	Pb	Ag	Cu
	'000s	%	%	g/t	%	'000s	%	%	g/t	%
Mineral Reserves
Proven, Zinc	8,762	9.6	5.2	112		8,306	10.3	5.5	114
Probable, Zinc	2,000	8.5	2.5	56		2,249	8.4	2.8	62
Prov + Prob Zinc	10,762	9.4	4.7	101		10,555	9.9	4.9	103
Probable, Copper	2,895	0.5	0.0	28	2.6
Mineral Resources
Measured, Zinc	553	6.3	0.9	24		553	6.3	0.9	24
Indicated, Zinc	3,790	9.2	4.4	105		3,677	9.3	4.5	109
Mea + Ind Zinc	4,343	8.8	4.0	95		4,230	8.9	4.0	98
Indicated, Copper	460	0.5	0.0	30	2.9	3,100	0.5	0.0	32	2.9
Inferred, Zinc	4,199	9.7	3.1	68		4,320	9.4	2.9	67
Inferred, Copper	550	0.1	0.0	42	3.0	770	0.2	0.0	20	2.8

The 2007 and 2008 Zinkgruvan Mineral Resources are exclusive of Mineral Reserves. In 2007 and 2008 Zinc Mineral Resources and Mineral Reserves were reported above a 250 SEK/t NSR cut-off. In both 2007 and 2008 the Copper Mineral Resources and Reserves were reported above a cut-off of 2.0% copper.
 
AGUABLANCA, SPAIN

Highlights

• Nickel-copper Measured and Indicated Resources increased by 20%
• Proven and Probable Reserves are based on a new open pit mine plan, and no underground reserves are estimated at current metal prices.

Category	December 31, 2008			December 31, 2007
	Tonnes	Ni	Cu	Tonnes	Ni	Cu
	'000s	%	%	'000s	%	%
Mineral Reserves
Proven	8,668	0.65	0.48	6,337	0.64	0.51
Probable	370	0.30	0.29	4,339	0.59	0.47
Proven + Probable	9,038	0.63	0.47	10,676	0.62	0.49
Mineral Resources
Measured	14,966	0.55	0.46	7,922	0.64	0.53
Indicated	1,569	0.28	0.24	5,809	0.61	0.51
Measured + Indicated	16,535	0.52	0.44	13,731	0.62	0.52
Inferred	525	0.27	0.19	2,656	0.41	0.32

The 2007 and 2008 Mineral Resources are inclusive of Mineral Reserves. The 2007 Resources and Reserves have been reported above a 0.2% nickel cut-off. The 2008 Resources have been reported above a 0.2% nickel cut off and the 2008 Reserves above a 0.25% nickel cut off.
 
GALMOY, IRELAND

Note: Production at Galmoy is planned to permanently end in May 2009

Category	December 31, 2008				December 31, 2007
	Tonnes	Zn	Pb	Ag	Tonnes	Zn	Pb	Ag
	'000s	%	%	g/t	'000s	%	%	g/t
Mineral Reserves
Proven	1,163	16.1	5.1	48.1	1,877	16.1	4.6	44.3
Probable	67	10.3	1.1	6.2	143	12.3	1.4	10.1
Proven + Probable	1,230	15.8	4.9	46.8	2,020	15.8	4.4	41.9
Mineral Resources
Measured	667	13.8	2.5	25.6	1,435	15.3	3.6	36.8
Indicated	133	10.5	2.0	21.2	510	13.9	2.2	15.6
Measured + Indicated	799	13.3	2.5	24.9	1,945	14.9	3.2	31.3
Inferred	8	9.5	1.3	18.8	33	13.2	0.9	8.0

The 2007 and 2008 Galmoy Mineral Resources are exclusive of the Mineral Reserves. In 2007 and 2008 the Mineral Reserve reported above a cut-off grade of 6% zinc equivalent and the Mineral Resources above a cut-off of 4.5% zinc equivalent. Zinc equivalency is based on the formula of ZnEq = Zn+0.5xPb.
 
TENKE FUNGURUME, DEMOCRATIC REPUBLIC OF CONGO

Highlights

• Extensive exploration during 2008 with 17 rigs deployed drilling 15 different mineralized targets. Given the volume of data, analysis and modelling will continue for some time. To date seven of these targets have completed mineral resource models and five of these have ore reserve statements.
• The proven/probable ore reserve estimates released by Freeport (project operator) indicate an increase over the year of approximately 35 % in copper contained in reserves.

Category*	December 31, 2008			December 31, 2007
	Tonnes	TCu	TCo	Tonnes	TCu	TCo
	'000s	%	%	'000s	%	%
Mineral Reserves
Proven	59,594	2.62	0.37	56,000	2.11	0.36
Probable	59,924	2.67	0.32	44,000	2.47	0.30
Proven + Probable	119,518	2.64	0.35	100,000	2.27	0.33
Measured Resources
Oxide	89,665	2.62	0.36	58,551	3.57	0.34
Mixed	22,209	3.65	0.36	64,658	3.27	0.33
Sulfide	10,256	4.27	0.33	3,107	4.37	0.36
Leached	86	0.21	0.48
Total	122,216	2.95	0.36	126,316	3.44	0.33
Indicated Resources
Oxide	134,878	2.30	0.26	33,714	2.69	0.33
Mixed	66,304	2.88	0.20	74,137	2.42	0.26
Sulfide	24,997	3.26	0.28	937	3.75	0.43
Leached	699	0.21	0.48
Total	226,877	2.57	0.24	108,788	2.52	0.28
Measured + Indicated Resources
Oxide	224,541	2.43	0.30	92,265	3.25	0.34
Mixed	88,513	3.08	0.24	138,795	2.82	0.29
Sulfide	35,253	3.55	0.29	4,044	4.22	0.37
Leached	785	0.21	0.48
Total	349,092	2.70	0.28	235,104	3.01	0.31
Inferred Resources
Oxide	55,447	2.09	0.22	70,152	2.75	0.20
Mixed	44,820	2.38	0.18	176,043	2.61	0.20
Sulfide	40,245	1.97	0.24	17,557	1.82	0.13
Leached	378	0.19	0.34
Total	140,889	2.14	0.22	263,752	2.60	0.19
*Lundin has a 24.75% equity interest in the Tenke Fungurume project in the DRC with Freeport-McMoran as operator. TCu% - Total copper grade TCo% - Total cobalt grade 2007 Reserves above were updated for Year-end 2007 2007 Resources above remain unchanged from those reported for Year-end 2006

The Tenke Fungurume concessions include more than 20 different mineralized zones, 15 of which were the subject of exploration drilling during 2008. Categorization and modeling of these numerous deposits have evolved significantly since the last reporting period. The 2008 reserves summarise the current modeling of 5 of the deposits - Kwatebala, Tenke (formerly Goma), Fwaulu, Mwadinkomba and Kansalawile.

The 2008 mineral resources summarise the current modeling of 7 of the deposits - Kwatebala, Tenke, Fwaulu, Mwadinkomba, Mambilima, Kansalawile and Fungurume. The reader is cautioned against direct comparisons of the 2008 resources against the 2007 figures as some of the areas modeled previously have been re-categorized by Freeport and portions are not included in the 2008 resource statements pending completion of updated modeling. It is also noted that different modeling methods and cutoff grades have been applied than in the past. The 2007 and 2008 Tenke Mineral Resources are inclusive of Mineral Reserves

The 2007 Tenke Mineral Reserves are reported at a 1.3% Cu equivalent cut-off based on metal prices of US$1.20/lb ($2,646/t) for copper and US$ 12.0/lb ($26,455/t) for cobalt. The 2007 Mineral Resources are reported at 1% Cu equivalent cut-off based on cobalt to copper factor of 5.7.

The 2008 Tenke Mineral Reserves and Resources use long term prices of US$1.60/lb ($3,527/t) for copper and US$ 10.00/lb ($22,046/t) for cobalt. The Mineral Reserves are based on pit limits defined in the current mine plan, use a cut off grade of 1.46% (acid soluble) copper equivalent and an equivalency factor of 3.96. The Mineral Resources are based on a cut off of 1.50% copper equivalent and a cobalt to copper factor of 6.25.

The 2008 modelling method used for the majority of the Tenke Fungurume concession deposits is Local Anisotropy Kriging. The Fungurume zone was modelled using the Inverse Distance Weighted technique.