Mailing of Materials for Special Meeting

FIRST QUANTUM MINERALS ANNOUNCES MAILING OF MATERIALS FOR SPECIAL MEETING OF SHAREHOLDERS

First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM", LSE Symbol "FQM") today announced that it has mailed to shareholders of record of the Company as at the close of business on June 17, 2011 a Notice of Meeting and accompanying Management Information Circular in connection with the special meeting of shareholders to consider and, if thought appropriate, pass a resolution approving a stock split of the Company's issued and outstanding common shares on a five-for-one basis.

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. The special meeting of shareholders to approve the stock split will be held at the offices of Fasken Martineau DuMoulin LLP at 2900 - 550 Burrard St, Vancouver, V6C 0A3, British Columbia, Canada on Friday, July 29, 2011 at 2:00 p.m. (Pacific Time).

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.

Shareholders are encouraged to read the Management Information Circular carefully and in its entirety, as it contains important information in respect of the proposed stock split. The Notice of Meeting, Management Information Circular and related documents have been filed on SEDAR and will be available at www.sedar.com.

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]