July 29 (Reuters) - Lundin Mining Corp ( LUNMF ):

* LUNDIN MINING AND BHP TO ACQUIRE FILO AND FORM A 50/50

JOINT

VENTURE TO PROGRESS THE FILO DEL SOL AND JOSEMARIA PROJECTS

* UNDER TERMS OF ARRANGEMENT AGREEMENT OFFER IMPLIES A VALUE

OF

C$33.00 PER FILO SHARE

* BHP WILL PAY LUNDIN MINING $690 MILLION AS CONSIDERATION

FOR

LUNDIN MINING CONTRIBUTING JOSEMARIA PROJECT TO JV

* EACH OF BHP AND LUNDIN MINING WOULD HOLD A 50% INTEREST IN

JOINT

VENTURE.

* LUNDIN MINING WILL CONTRIBUTE JOSEMARIA PROJECT TO JOINT

VENTURE.

* FILO INTENDS TO USE PROCEEDS FROM FILO SHARE PLACEMENT TO

FUND

ONGOING EXPLORATION AND GENERAL WORKING CAPITAL EXPENSES.

* CASH IMPACT TO CO IN TRANSACTION MARGINALLY POSITIVE,

PAYING

CASH CONSIDERATION TO FILO SHAREHOLDERS OF C$859 MILLION

* BHP AND LUNDIN MINING AGREED TO JOINTLY ACQUIRE FILO FOR

ABOUT

C$4.1 BILLION, OR C$33.00 PER FILO SHARE

* LUNDIN MINING'S ( LUNMF ) SHARE OF CONSIDERATION FOR FILO

ACQUISITION IS

ABOUT C$2,148 MILLION

* SHARE OF CONSIDERATION FOR FILO ACQUISITION CONSISTS UP TO

C$859

MILLION IN CASH AND C$1,289 MILLION IN LUNDIN SHARES

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