First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

March 15, 2007 09:30 ET

First Quantum Minerals To Move To Main Market Listing On The London Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2007) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announces the Company's intention to apply for the admission of its common shares on the Main Market of the London Stock Exchange.

Proposed Admission to the Official List

The Board of Directors is pleased to announce today that the Company intends to apply for admission of the Company's issued common share capital to the Official List of the United Kingdom Listing Authority (UKLA) and to trading on the Main Market of the London Stock Exchange as a secondary listing.

The Company has grown significantly in both operations and capitalization since its admission to AIM in 2001. As such its Directors believe that a move to the senior market of the London Stock Exchange is now appropriate. In addition, the Directors believe that this move will improve the liquidity in the Company's shares.

Pursuant to Rule 41 of the AIM Rules, the Company hereby gives notice of the intended cancellation of admission to trading of the Company's issued share capital on AIM.

It is expected that the Company's common shares will be simultaneously cancelled on AIM and admitted to the Official List of the UKLA and to trading on the London Stock Exchange's market for listed securities by the end of April 2007, subject to the receipt of the necessary approvals from the UKLA.

Citigroup is financial advisor and broker and Numis Securities is joint broker to the Company.

The shares of First Quantum will continue to trade on the Toronto Stock Exchange.

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.
    Geoff Chater
    North American Contact
    (604) 688-6577
    (604) 688-3818 (FAX)
    or
    First Quantum Minerals Ltd.
    Bill Iversen
    North American Contact
    (604) 688-6577 or TF: 1 (888) 688-6577
    (604) 688-3818 (FAX)
    Email: info@fqml.com
    Website: www.first-quantum.com
    or
    First Quantum Minerals Ltd.
    Clive Newal
    President
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    Email: clive.newall@fqml.com