FQM.L Regulatory News (FQM)

22 Jan 2007 18:30

First Quantum Minerals Ld22 January 2007 NEWS RELEASE 07-01 January 22, 2007 www.first-quantum.com MARTIN ROWLEY NAMED EXECUTIVE DIRECTOR BUSINESS DEVELOPMENT DAVID MORONEY APPOINTED CHIEF FINANCIAL OFFICER First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM",LSE Symbol "FQM") is pleased to announce the appointment of David E. J. Moroneyto the executive position of Chief Financial Officer with Martin Rowley namedExecutive Director Business Development. Martin Rowley will remain a Directorof First Quantum. David E. J. Moroney, Chief Financial Officer Mr. Moroney obtained his Bachelor of Commerce degree from University ofMelbourne in 1980 and qualified as a Chartered Accountant in Australia in 1984.He held the position of Group Manager - Tax and Planning for Ashton Mining Ltdfrom 1989 to 1992. After a brief tenure with PT Indo Muro Kencana in Indonesia,he joined Aurora Gold Ltd as Chief Financial Officer from 1993 to 1999. From1999 to 2002, he held the position of Deputy Chief Financial Officer at NormandyMining Ltd before taking the position of Chief Financial Officer at CSBP Ltdfrom 2002 to 2003. Recently, 2003-2006, Mr. Moroney held the position ofGeneral Manager Group Business Services for Wesfarmers Ltd, a major diversifiedAustralian public company with operating business interests in home improvementproducts and building supplies, coal mining, gas processing and distribution,industrial and safety product distribution, chemicals and fertilizersmanufacture and insurance. "David will augment the top management team at First Quantum. His extensivefinancial background across a diverse range of companies and responsibilitieswill help strengthen our financial management and facilitate First Quantum'sfurther growth. The addition of David as CFO will allow Martin Rowley to furtherconcentrate his efforts on business development and other commercial initiativesin his role as Executive Director, Business Development. Enhanced attention tothese matters is very important to First Quantum's future" explained PhilipPascall. On Behalf of the Board of Directors 12g3-2b-82-4461of First Quantum Minerals Ltd. Listed in Standard & Poor'sG. Clive Newall Sedar Profile #00006237President For further information visit our web site at www.first-quantum.com North American contact: Geoff Chater or Bill Iversen 8th Floor, 543 Granville Street, Vancouver, British Columbia, Canada V6C 1X8 Tel: (604) 688-6577 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: info@fqml.com United Kingdom contact: Clive Newall, President1st Floor, Mill House Mill Bay Lane Horsham West Sussex RH12 1TQ United Kingdom Tel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: clive.newall@fqml.com. or Carina Corbett, 4C-Burvale, Tel: + 44 20 7907 4761 The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information contained in this news release "forward-looking statements"within the meaning of the Private Securities Litigation Reform Act of 1995 andforward-looking information under applicable Canadian securities legislation.Such forward-looking statements or information, including but not limited tothose with respect to the prices of gold, copper, cobalt and sulphuric acid,estimated future production, estimated costs of future production, the Company'shedging policy and permitting time lines, involve known and unknown risks,uncertainties, and other factors which may cause the actual results, performanceor achievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking statements or information. Such factors include, among others,the actual prices of copper, gold, cobalt and sulphuric acid, the factualresults of current exploration, development and mining activities, changes inproject parameters as plans continue to be evaluated, as well as those factorsdisclosed in the Company's documents filed from time to time with the Alberta,British Columbia, and Ontario Securities Commissions, the Autorite des marchesfinanciers in Quebec, the United States Securities and Exchange Commission andthe Alternative Investment Market operated by the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange