Confirming Labour Dispute

first quantum CONFIRMS LABOUR DISPUTE AT ITS KANSANSHI MINE

IN zAMBIA

First Quantum Minerals Ltd. ("First Quantum" or the "Company" or "FQM", TSX Symbol "FM", LSE Symbol "FQM") today confirmed that production at its Kansanshi copper/gold mine in Zambia is currently suspended due to a labour dispute which started on January 3, 2012.

"Every effort is being made to understand and resolve the issues behind the dispute and we will keep our stakeholders informed of developments as warranted," commented Philip Pascall, First Quantum's Chairman and CEO.

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 contacts: Clive Newall, PresidentTel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: [email protected]

or

Brian Cattell/James Devas, Maitland

Tel: +44 207 379 5151 Fax: +44 20 7379 6161 E-Mail: [email protected] E-Mail [email protected]