First Quantum Minerals Appoints Troy Hayden Interim Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA -- March 16, 2009 - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM) (LSE: FQM) today announced the appointment of Troy Hayden as Interim Chief Financial Officer of the Company effective immediately. Mr. Hayden assumes the responsibilities of David E. J. Moroney who has resigned the position.

Mr. Hayden joins the Company after a 12-year career with Woodside Petroleum Ltd., Australia's largest public independent oil and gas exploration and production company. During his tenure, Mr. Hayden held positions of increasing responsibility culminating in Vice President, Pluto LNG Business Unit where he oversaw the legal, sustainability, finance, commercial and development activities of the Business Unit. He also served as Chief Financial Officer, USA for Woodside Petroleum's US Business Unit from 2005 to 2007 and Acting Chief Financial Officer, for Woodside Petroleum Ltd. from 2004 - 2005.

Philip Pascall, First Quantum's Chairman and CEO said, "On behalf of the Board of Directors, we welcome Troy and look forward to his contribution to the Company. We also thank David for his service to First Quantum and wish him well in his future endeavors."

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

G. Clive Newall, President

Listed in Standard and Poor's
12g3-2b-82-4461

Certain information contained in this news release constitute "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 explorati on, 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 des marches financiers in Quebec, the United States Securities and Exchange Commission and the London Stock Exchange.

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

CONTACT INFORMATION:

First Quantum Minerals Ltd. - North American Contact
Sharon Loung
(604) 688-6577 or Toll Free: 1-888-688-6577
Fax: (604) 688-3818
Email: sharon.loung@fqml.com

or

First Quantum Minerals Ltd. - United Kingdom Contact
Clive Newall
+44 140 327 3484
Fax: +44 140 327 3494
Email: clive.newall@fqml.com
Website: www.first-quantum.com

or

Hogarth Partnership Ltd.
Simon Hockridge
+44 (0) 20 7357 9477

or

Renmark Financial Communications Inc.
Henri Perron : hperron@renmarkfinancial.com
Christine Stewart : cstewart@renmarkfinancial.com
Montreal - Tel.: 514 939-3989 / Fax: 514 939-3717
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