FQM.L Regulatory News (FQM)

18 Jan 2006 13:29

Adastra Minerals Inc18 January 2006 Adastra Minerals Responds to First Quantum Minerals Ltd. Announcement Trading: TSX and AIM: AAA London, 18 January 2006 - Adastra Minerals Inc. ("Adastra" or the "Company")notes the announcement made by First Quantum Minerals Ltd. that it will make anunsolicited share exchange offer to acquire all of the outstanding shares ofAdastra. The Board of Adastra has appointed a Special Committee which willconsider this unsolicited offer for the Company. In the meantime, shareholders are urged to take no action until the SpecialCommittee has had the opportunity to review the proposed offer and the Board ofDirectors has made its response. On December 1, 2005, the Board of Directors of Adastra implemented a shareholderrights plan. The plan was adopted in order to provide the Board of Directorswith sufficient time to assess and evaluate any takeover bid or other potentialchange of control transaction, and to explore and develop alternatives thatmaximise shareholder value and to give shareholders adequate time to considerany such transaction. A further announcement will be made in due course. About the Company Adastra is an international mining company listed on the Toronto Stock Exchangeand on AIM, in London, under the symbol "AAA". It is currently developingseveral mineral assets in Central Africa, including the Kolwezi Tailings Projectand the possible rehabilitation of the Kipushi zinc mine in the DRC. Adastra'sgrowth strategy emphasizes the creation of shareholder value through thedevelopment of world-class resources in stable or stabilizing politicalenvironments. Additional information on Adastra Minerals is available on itswebsite at www.adastramin.com Contact us: AdastraTim Read, President and Chief Executive OfficerTel.: +44 (0)20 7355 3552 RothschildCharles MerceyTel.: +44 (0)20 7280 5000 Canaccord Adams LimitedRobert FinlayTel.: +44 (0)20 7518 2777 Parkgreen CommunicationsJustine Howarth / Cathy MalinsTel.: +44 (0)20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange