First Quantum Minerals to Pay Final Dividend of Cdn $0.1277 Per Share

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2012) - First Quantum Minerals Ltd. (TSX:FM)(LSE:FQM) ("First Quantum" or the "Company") announced today that its Board of Directors has approved a final dividend of Cdn $0.1277 per share in respect of the financial year ended December 31, 2011.

The dividend will be paid on May 8, 2012 to shareholders of record on April 17, 2012. The ex-dividend date is April 13, 2012.

The final dividend of Cdn $0.1277, together with the interim dividend of Cdn $0.0533, is a total of Cdn $0.1810 for the 2011 financial year. This total dividend paid for the 2011 financial year is 15% of net earnings, reflecting an increase from 10% of net earnings, (in each case adjusted for unusual items) used as guidance in prior years.

Philip Pascall, Chairman and CEO of First Quantum, said: "We have a major capital program extending over the next few years, including the significant Kansanshi expansions, the new smelter, and the Sentinel and Haquira projects. In due course, these investments are expected to contribute to the long term growth of the Company. The Board recognizes the interest of shareholders for a growing yield and believes that the Company's sound financial position and growth prospects support stepping up the distribution level even as we continue to invest in our future."

The dividends paid are considered eligible dividends for Canadian tax purposes.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

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

Listed in Standard and Poor's

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