INDIRECTLY ACQUIRES ADDITIONAL STAKE IN ZINCORE

First Quantum INDIRECTLY ACQUIRES ADDITIONAL 3.7% STAKEIN ZINCORE METALS INC.

First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM", LSE Symbol "FQM") today announced that it has indirectly acquired control of an additional 7,820,500 common shares ("Zincore Shares") in the capital of Zincore Metals Inc. ("Zincore"), representing 3.7% of the issued and outstanding Zincore Shares immediately following completion of such acquisition.

On March 21, 2013, First Quantum acquired control of Inmet Mining Corporation ("Inmet"). Inmet holds 7,820,500 Zincore Shares representing 3.7% of the issued and outstanding Zincore Shares. Together with Zincore Shares indirectly held by First Quantum prior to its acquisition of Inmet, First Quantum has control of 49,888,245 Zincore Shares, representing 23.7% of the issued and outstanding Zincore Shares. For purposes of calculating percentage of Zincore Shares controlled by First Quantum, First Quantum has assumed that there were 210,443,949 Zincore Shares outstanding prior to completion of the Acquisition, as disclosed by Zincore in its annual information form dated March 22, 2013.

Neither the issuance of this press release in connection with the matters disclosed herein nor the filing by First Quantum of the corresponding report in accordance with applicable Canadian securities laws is an admission that any entity named or otherwise referred to in this new release owns or controls any described securities or is a joint actor with another entity named or otherwise referred to in this news release.

For further information, including obtaining a copy, once filed, of the report required to be filed with applicable securities regulators in respect of the matters described in this press release, please contact First Quantum by email at [email protected] or by telephone on 604.688.6577 or toll-free in North America on 888.688.6577.

Forward-Looking Information

Certain information contained in this news release constitutes "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 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 may include, among others, those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the Autorité des marchés financiers in Quebec, the United States Securities and Exchange Commission and the London

Stock Exchange.

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]