First Quantum Minerals Ltd.

First Quantum Minerals Ltd.

December 06, 2007 09:01 ET

First Quantum Minerals Acquires 17.27% Interest in Equinox Minerals Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2007) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) announces that on December 5, 2007 the Company acquired 41,300,000 common shares in Equinox Minerals Limited representing 7.31% of the issued and outstanding shares. After the acquisition of the shares, First Quantum will beneficially own 97,556,700 common shares representing 17.27% of the issued and outstanding shares of Equinox Minerals Limited.

The securities were acquired through the facilities of the Toronto Stock Exchange. First Quantum has acquired the common shares for investment purposes and may acquire further common shares or dispose of its holdings of common shares both as investment conditions warrant.

Equinox Minerals Limited is developing its 100% owned Lumwana copper mine located in the North Western Province of Zambia approximately 65 kilometres west of First Quantum's Kansanshi copper-gold mine.

For additional information or for a copy of First Quantum's Early Warning Report, please contact: Clive Newall, President at +44 140 327 3484 or Geoff Chater, Manager Corporate Relations at +1 604 614 7830.

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

G. Clive Newall, President


Listed in Standard and Poor's

Certain information contained in this news release are "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 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.
    Geoff Chater
    North American Contact
    (604) 688-6577 or Toll Free: 1-888-688-6577
    (604) 688-3818 (FAX)
    First Quantum Minerals Ltd.
    Clive Newall, President
    United Kingdom Contact
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    Hogarth Partnership Ltd.
    Harriet Pask or Sarah MacLeod
    +44 (0) 20 7357 9477