First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

January 22, 2007 13:30 ET

First Quantum Minerals Ltd.: Martin Rowley Named Executive Director Business Development

David Moroney Appointed Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 22, 2007) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) is pleased to announce the appointment of David E. J. Moroney to the executive position of Chief Financial Officer with Martin Rowley named Executive Director Business Development. Martin Rowley will remain a Director of First Quantum.

David E. J. Moroney, Chief Financial Officer

Mr. Moroney obtained his Bachelor of Commerce degree from University of Melbourne in 1980 and qualified as a Chartered Accountant in Australia in 1984. He held the position of Group Manager - Tax and Planning for Ashton Mining Ltd. from 1989 to 1992. After a brief tenure with PT Indo Muro Kencana in Indonesia, he joined Aurora Gold Ltd. as Chief Financial Officer from 1993 to 1999. From 1999 to 2002, he held the position of Deputy Chief Financial Officer at Normandy Mining Ltd. before taking the position of Chief Financial Officer at CSBP Ltd. from 2002 to 2003. Recently, 2003-2006, Mr. Moroney held the position of General Manager Group Business Services for Wesfarmers Ltd., a major diversified Australian public company with operating business interests in home improvement products and building supplies, coal mining, gas processing and distribution, industrial and safety product distribution, chemicals and fertilizers manufacture and insurance.

"David will augment the top management team at First Quantum. His extensive financial background across a diverse range of companies and responsibilities will help strengthen our financial management and facilitate First Quantum's further growth. The addition of David as CFO will allow Martin Rowley to further concentrate his efforts on business development and other commercial initiatives in his role as Executive Director, Business Development. Enhanced attention to these matters is very important to First Quantum's future," explained Philip Pascall.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

12g3-2b-82-4461

Listed in Standard & Poor's

Sedar Profile #00006237

Certain information contained in this news release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of gold, copper, cobalt and sulphuric acid, estimated future production, estimated costs of future production, the Company's hedging policy and permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, gold, cobalt and sulphuric acid, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the Autorite des marches financiers in Quebec, the United States Securities and Exchange Commission and the Alternative Investment Market operated by the London Stock Exchange.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Quantum Minerals Ltd. - North American Contact
    Geoff Chater
    (604) 688-6577 or Toll Free: 1-888-688-6577
    or
    First Quantum Minerals Ltd. - North American Contact
    Bill Iversen
    (604) 688-6577 or Toll Free: 1-888-688-6577
    (604) 688-3818 (FAX)
    Email: info@fqml.com
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Clive Newall
    President
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    Email: clive.newall@fqml.com
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Carina Corbett
    + 44 20 7907 4761
    Website: www.first-quantum.com