First Quantum Minerals to Pay Dividend of Cdn $0.265 per Share.

VANCOUVER, British Columbia -- First Quantum Minerals Ltd. (TSX:FM)(LSE:FQM), as previously announced March 9, 2006 (NR 06-06), will pay a final dividend of Cdn $0.265 per share in respect of the year ended December 31, 2005. The dividend will be paid on May 10, 2006 to shareholders of record on April 19, 2006.

The final dividend of Cdn $0.265, together with the interim dividend of Cdn $0.02 totaling Cdn $0.285, represents 10% of after tax profits for the 2005 financial year.

Philip Pascall, Chairman and CEO commented, "Our goal is to set a dividend level which is compatible with our objectives of maintaining excellent returns to our shareholders, as well as strong growth through development of new and existing mines. We are delighted with our strong earnings performance and successful project commissioning in 2005 and the equally strong outlook for 2006. Accordingly, we are pleased to return in the order of 10% of our 2005 after tax profit to our shareholders at the same time that we are forging ahead with our development projects."

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

G. Clive Newall, President

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Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of gold, copper, cobalt and sulphuric acid, estimated future production, estimated costs of future production, the Company's hedging policy and permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, gold, cobalt and sulphuric acid, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the AutoritE[umlaut] des marchE[umlaut]s financiers in Quebec, the United States Securities and Exchange Commission and the Alternative Investment Market operated by the London Stock Exchange.

The Toronto Stock Exchange has not reviewed and does not accept re sponsibility for the adequacy or accuracy of this release.

First Quantum Minerals Ltd. (TSX:FM) (LSE:FQM)