Lundin Mining Enters Agreement to Sell Salave Gold Project to Dagilev Capital Corp

Atlanta, GA 2/13/2010 02:35 AM GMT (TransWorldNews)

Lundin Mining Corporation (TSX- LUN) has entered an agreement with Dagilev Capital Corp. (TSX-V: DCC.P) to sell the Salave gold project in Spain. Upon closing, Lundin will receive a payment of Eur$500,000 along with 5,296,688 shares in DCC, which represents a 19.99% of the issued and outstanding shares of DCC.

 

Lundin will also earn the right to appoint 1 member to DCC’s Board of Directors. The company will receive a future payment of Eur$20 million upon the receipt by DCC of all necessary approvals to operate an open pit mining operation that produces a minimum of 800,000 ounces of gold.

 

Lundin Mining Corporation ("Lundin", "Lundin Mining" or the "Company") is a diversified base metals mining company with operations in Portugal, Sweden, Spain and Ireland, producing copper, zinc, lead and nickel.

 

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