Tenke Mining Corp. Announces Appointment.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 29, 1997--

Tenke Mining Corp. announces appointment of Mr. Adolf H. Lundin as Chairman and Mr. Edward H. Webb as President

TENKE MINING CORP.(TSE TNK.) The directors of TENKE MINING CORP. (the "Company") are pleased to announce the appointment of Mr. Adolf H. Lundin as Chairman of the Board. Mr. Lundin was one of the founding directors of the Company and has served on the Board since the Company's inception in 1978.

The Company is also pleased to announce the appointment of Mr. Edward H. Webb as President of the Company, effective January 24, 1997. Mr. Webb replaces Mr. Lukas H. Lundin who will remain a director of the company. Mr. Webb has an extensive commercial and financial background with several years experience in resource development in the mining industry and in the petroleum industry. Aged 52, and born and educated in South Africa, Mr. Webb immigrated to Australia in 1976 bringing valuable, practical experience in international finance through such companies as Elders IXL and Mount Isa Mines. Mr. Webb has actively participated in the restructuring of the power industry in Queensland, Australia and was involved in negotiating and finalizing the infrastructure for the Bajo de la Alumbrera copper/gold project in Argentina for MIM Holdings Ltd.

Tenke Mining Corp. is also pleased to announce the appointment of Mr. Brian Spratley as Vice-President of the Company. Mr. Spratley started his career in Chingola, Zambia as a member of the Computer Mine Planning department of Nchanga Consolidated Copper Mines. He then spent eight years with Anglo American Corporation in South Africa working in deep level underground gold mining. He was a member of the Elandsrand Project Team from the main sink through to full production. Mr. Spratley then spent eight years consulting, based in Johannesburg, and undertook assignments in gold, copper, vanadium, chromium and platinum group metals throughout southern Africa. He then became Consulting Mining Engineer for a subsidiary of Zambia Consolidated Copper Mines and worked on most of the ZCCM copper mining divisions, including the Konkola Deep Project. For the last three years, Mr. Spratley has been involved with the Tenke Fungurume Project on behalf of the Lundin Group.

Tenke Mining Corp. has gathered together a top class management team that is second to none. Each member brings with them invaluable, practical expertise and each one will contribute greatly to the successful development of Tenke Fungurume. The management team will aggressively pursue and deliver a bankable feasibility study within 16 months and fast track the development of the immense Tenke Fungurume copper/cobalt deposits in Zaire.

Other key members of Tenke Mining Corp.'s management team include the following:

Mr. Allan F. Nuttall will be Project Director and brings over 30 years experience in all aspects of mine processing, smelting and development including feasibility studies, engineering, procurement, construction and financial controls. He successfully completed work on several world class projects in the U.S. $200 to $900 million dollar range and performed these services both on the owner and contractor side of the business. Projects have been in several countries and involved uranium, potash, zinc, gold and copper. Approximately 70 percent of his career has been engaged in copper/gold projects. Mr. Nuttall is a Civil Engineer, registered professional engineer and member of The American Society of Mining Engineers.

Ms. Anna Chatelain is the Project Control Manager and has a diversified background in controls using mainframes and personal computer systems for cost engineering, planning and scheduling on multi-disciplined projects in the mining industry including the original Tenke Fungurume copper/cobalt project in Zaire, nickel/magnesite in Australia and Asia and also projects in the petrochemical industry, including Sasol II and III in South Africa and an ethylene plant in Europe. Taking projects from study to commissioning, she is office based for study and site based for construction and has frequently worked in remote locations such as Zaire, Sulawesi and north east Australia.

Mr. Alan King is the project's Exploration Manager and will be based at the Fungurume camp. Aged 39, Mr. King was born and educated in South Africa, graduating from the University of the Wiwatersrand with B.Sc (Hons) in Geology. He gained extensive experience in production and exploration for gold in South Africa while with Anglo American Corporation. He joined Phelps Dodge in 1990. Since 1992 he has been extensively involved in the evaluation of the Lumwana copper deposits and exploration for copper in Zambia. Mr. Charles Leggett is Engineering Director with a unique combination of skills, education and experience that covers many diverse aspects of the mining industry and business. He has a varied perspective from which to draw in the creation of Tenke Mining Corp. Mr. Leggett has graduated with both mineral processing and mining engineering qualifications, has the course requirements of a masters degree in business and has on-the-ground experience through the feasibility analysis, design, operation and construction of a number of different plants. Mr. Leggett's skills will be a valuable resource in optimizing the exploitation of the Tenke Fungurume ore bodies and will be an asset in the project development through feasibility, construction and operation.

Mr. Dirk Vanhooymissen is Managing Director of Tenke Mining SARL (which is located in Lubumbashi). Aged 41 years, Mr. Vanhooymissen was born and educated in Belgium. He obtained degrees for law and accounting at Leuven and has spent 10 years working in Zaire, for the past seven years as Executive Director for Price Waterhouse. Previous experience in Africa has been in Zimbabwe and Botswana as United Nations consultant to those Governments. Extensive experience in logistics and tax/customs regulations of resource development in Zaire provide the project with an invaluable on-the-ground capability. Experience with the working environment in Zaire and knowledge of support services available in Zaire add to the logistical support for the project. -0- ON BEHALF OF THE BOARD "Lukas H. Lundin" Director

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CONTACT: Tenke Mining Corp.

Lukas H. Lundin, 604/689-7842

604/689-4250 (FAX)