08:58 30Mar11 MKW- Lundin Mining Adopts Shareholder Rights Plan...

08:58 30Mar11 MKW- Lundin Mining Adopts Shareholder Rights Plan and Commences Pursuit of Alternatives to Maximize Shareholder Value
TORONTO, ONTARIO, Mar 29 (MARKET WIRE) --

Commenting on the adoption of the Rights Plan, Mr. Phil Wright, the
President and CEO of Lundin Mining said, "This plan has been put in place
to ensure that we have adequate time to explore all alternatives to bring
value to Lundin shareholders. Our exploration of alternatives starts
immediately and we will be actively and aggressively looking for the best
value transaction.

"The Rights Plan ensures that we can do this in a considered and
structured way and get the best result for our shareholders," Mr. Wright
said.

In a previous release earlier today, Lundin Mining announced that it has
mutually terminated its proposed merger with Inmet Mining Corporation
("Inmet") and has agreed that Inmet's right to a break fee of $120
million will be preserved in connection with the unsolicited offer of
Equinox Minerals Limited ("Equinox").

The Board continues to recommend that shareholders reject the Equinox
offer, on its own merits, for the reasons detailed in the Directors'
Circular mailed to registered shareholders on March 21, 2011 and
available on SEDAR at www.sedar.com.

Commenting on the plans to pursue alternative transactions, Mr. Lukas
Lundin, Chairman of Lundin Mining said, "Our hands have been completely
tied in defending against the low ball, risky Equinox bid because of the
Inmet agreement.

"Having agreed to terminate with Inmet, we can now pursue new
alternatives to significantly improve shareholder value and get a proper
premium if we do a change of control transaction.

"I am not against selling if it achieves an excellent financial return to
shareholders but I will not support selling at bargain prices," Mr.
Lundin said.

Scotia Capital, as financial advisors, and Cassels Brock & Blackwell LLP,
as legal advisor, will continue to assist the Company in responding to
the unsolicited offer announced by Equinox.

The Board will make every effort to maximize value for the benefit of
Lundin Mining shareholders and will update shareholders from time to time
of its efforts.


Shareholders do not need to take any action in response to Equinox's
proposed offer at this time.