TEMPORARY WORK STOPPAGE AT COBRE PANAMA PROJECT

FIRST QUANTUM MINERALS REPORTS TEMPORARY WORK STOPPAGEAT COBRE PANAMA PROJECT SITE

First Quantum Minerals Ltd. ("First Quantum" or "the Company", TSX Symbol "FM", LSE Symbol "FQM") today reported that it has temporarily halted construction activity at its Cobre Panama project due to an illegal work stoppage by some members of its construction workforce.

The illegal stoppage is related to the implementation of a work roster applicable under the individual employment contracts and within the legal framework for labor in the construction industry in Panama. The new work roster is a change to 21 days of work with seven days off from a roster of 12 days of work with two days off.

The Company is committed to achieving a resolution to the illegal action and will update stakeholders as warranted.

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 website 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: sharon.loung@fqml.com United Kingdom contact: Clive Newall, PresidentTel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: clive.newall@fqml.com