First Quantum Minerals Board of Directors Approves a Five-For-One Stock Split

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2011) -First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced that its Board of Directors has approved a five-for-one stock split of the Company's issued and outstanding common shares and has called a special meeting of its shareholders to consider and vote on the resolution.

The stock split is subject to approval by the Company's shareholders, receipt of any necessary regulatory approvals, including that of the Toronto Stock Exchange and the filing by the Company of articles of amendment. Shareholders will have the opportunity to vote on the resolution at a special meeting of shareholders to be held in Vancouver, British Columbia on July 29, 2011, at a time and location to be disclosed.

If approved, each shareholder will receive four additional common shares for each common share held on the stock split record date. Subject to shareholder approval, the stock split record date is anticipated to be August 11, 2011. Assuming shareholder approval of the stock split and the record date, according to the rules of the Toronto Stock Exchange, the Company's common shares will start trading on a subdivided basis at the opening of the business on August 9, 2011, being the second trading day prior to the stock split record date. Further details in respect of the proposed stock split will be contained in a management information circular to be mailed to shareholders for the special meeting.

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

G. Clive Newall, President

12g3-2b-82-4461

Listed in Standard and Poor's