Amendment and Restatement of Credit Facility

FIRST QUANTUM MINERALS ANNOUNCES AMENDMENT AND RESTATEMENT OF ITS $2.5 BILLION REVOLVING CREDIT FACILITY

(In United States dollars, except where noted otherwise)

First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM", LSE Symbol "FQM") First Quantum Minerals Ltd is pleased to announce that its wholly-owned subsidiary, FQM (Akubra) Inc, has today signed a Deed of Amendment and Restatement to its $2.5 billion Revolving Credit Facility (the "Facility") provided by Standard Chartered Bank whereby the Facility has been extended to June 30, 2014 . As such, the reductions to the Facility of $1.25 billion at December 31, 2013 and $1.25 billion at March 26, 2014 are no longer required. All other terms of the Facility remain unchanged.

The Company also notes that it is in discussions with Standard Chartered Bank and its other relationship banks to restructure its various debt facilities to appropriately provide for its long-term capital requirements.

On Behalf of the Board of Directors 12g3-2b-82-4461

of First Quantum Minerals Ltd. Listed in Standard and Poor's

G. Clive Newall

President

For further information visit our web site at www.first-quantum.com

North American contact: Sharon Loung, Director, Investor RelationsTel: (647) 346-3934 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: [email protected] United Kingdom contact: Clive Newall, PresidentTel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: [email protected]