AAA.L Regulatory News (AAA)

3 May 2006 11:24

Adastra Minerals Inc03 May 2006 Issue of Shares pursuant to the Stock Option Plan and Changes in Directors' Share Interests Trading: TSX and AIM: AAA London, UK (May 3rd, 2006) - Adastra Minerals Inc. ("Adastra" or the "Company)announces that: 1. On 28 April 2006 options over 7,126,209 shares were terminated inexchange for the issue of 3,239,638 common shares of the Company pursuant to theStock Option Plan. (The price of the terminated options is determined byreference to the exercise prices of the options, the market price on the TorontoStock Exchange and any resulting UK Employee Income Tax and National InsuranceContributions.) Application has been made for the new shares to be admitted to AIM on 9 May2006. 2. Included in (1) above are the following Directors of the Company: Name No of options terminated No of shares issuedJ W S Bentley 500,000 302,463E Denis 500,000 282,220P MacNeill 400,000 255,511B R Pryor 776,287 255,151T P Read 1,648,635 516,037B Vavala 785,000 453,305P J Walsh 500,000 334,571 3. The following Directors of the Company have disposed of common shares inthe Company (including shares issued to them in (1) and (2) above) by depositingthem under the takeover offer from First Quantum Minerals Limited ("FirstQuantum"), and have elected to take the consideration to the maximum extentpossible in the form of First Quantum shares: Name Number of shares disposed ofJ W S Bentley 312,463E Denis 282,220P MacNeill 310,483B R Pryor 335,460T P Read 966,551B Vavala 915,105P J Walsh 334,571 First Quantum announced on 1 May 2006 that it had taken up all of the sharesdeposited, and that Adastra shareholders who elected for the Share Alternativewould receive Can$ 0.358 in cash and 0.0599 of a First Quantum share for eachAdastra common share. Contact us: LondonAdastraTim Read, President and Chief Executive OfficerTel.: +44 (0)20 7257 2040 Parkgreen CommunicationsJustine Howarth / Annabel LeatherTel.: +44 (0)20 7493 3713 North AmericaEquicomMartti KangasTel.: +1 (416) 815 0700 This information is provided by RNS The company news service from the London Stock Exchange