ANM Antares Minerals

First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)
(LSE:FQM), Antares Minerals Inc. ("Antares") (TSX VENTURE:ANM) and Regulus
Resources Inc. ("Regulus") (TSX VENTURE:REG), today announced the closing of the
previously-announced plan of arrangement (the "Arrangement"), pursuant to which
a wholly-owned subsidiary of First Quantum has acquired all of the outstanding
securities of Antares. Under the Arrangement, each common share of Antares was
exchanged for, at the election of the holder thereof, (i) 0.07619 of a common
share of First Quantum (the "Share Consideration") or (ii) a cash payment in the
amount of C$6.35 (the "Cash Consideration"), or a combination of both the Share
Consideration and the Cash Consideration. 


The Arrangement was carried out pursuant to the provisions of the Business
Corporations Act (Alberta) and was approved by the Court of Queen's Bench of
Alberta and the affirmative vote of 100% of Antares' securityholders at a
special meeting of shareholders held on December 10, 2010.


Pursuant to the Arrangement, First Quantum, through its wholly-owned subsidiary,
acquired all 72,364,467 issued and outstanding common shares of Antares for
aggregate Cash Consideration of approximately $2.6 million and aggregate Share
Consideration of 5,481,963 common shares of First Quantum. As part of the
transaction, Antares' 50% interest in the Rio Grande project located in Salta
Province, northwestern Argentina, was spun out into Regulus, together with C$5
million in cash. Antares securityholders effectively received 0.4505 of a
Regulus share for each of their Antares securities. Regulus is owned 90.1% by
former Antares shareholders in aggregate and 9.9% by First Quantum.


Dundee Securities acted as exclusive financial advisor to Antares and its legal
advisor was Burnet, Duckworth & Palmer LLP. Antares also retained as strategic
advisors each of CIBC, Stifel Nicholaus, Stonecap and Wellington West. 


BMO Capital Markers acted as exclusive financial advisor to First Quantum and
its legal advisor was Fasken Martineau DuMoulin LLP.


The Antares common shares have been halted from trading on the TSX Venture
Exchange and will remain halted until they are de-listed which is expected to be
at the close of trading on December 20, 2010. The Regulus common shares are
expected to be listed on the TSX Venture Exchange on December 20, 2010 under the
symbol "REG". Regulus has filed a copy of its TSXV listing application on SEDAR
at www.sedar.com which contains updated information in respect of Regulus from
the information circular dated November 15, 2010 and filed by Antares in respect
of the Arrangement.


Holders of Antares common shares are reminded that, in order to receive the
consideration to which they are entitled pursuant to the Arrangement, they
should properly complete and execute, as soon as possible, the Letter of
Transmittal and Election Form delivered to them in connection with seeking the
approval of the securityholders of Antares for the Arrangement, and present and
surrender the certificate(s) representing their common shares in accordance with
the Letter of Transmittal and Election Form, to Computershare Investor Services
Inc., the depositary for the Arrangement, at the address indicated in the Letter
of Transmittal and Election Form. Failure to present and surrender the
certificate(s) representing such common shares on or before the sixth
anniversary of closing will result in the termination of any entitlement of the
holder of such common shares to receive the Share Consideration otherwise
payable to such holder under the Arrangement.


Antares shareholders who have any questions or require more information with
respect to the Arrangement, the payment of the Share Consideration or the
receipt of First Quantum common shares to which they are entitled pursuant to
the Arrangement should contact:


COMPUTERSHARE INVESTOR SERVICES INC.

Toll Free (North America): 1-800-564-6253

E-Mail: corporateactions@computershare.com

Website: www.computershare.com

About First Quantum

First Quantum is a growing mining and metals company engaged in mineral
exploration, development and mining. The Company produces LME grade "A" copper
cathode, copper in concentrate, gold and sulphuric acid. 


First Quantum's assets in Zambia include the Kansanshi open pit copper-gold
mine, the Trident project, the Fishtie copper project and the Bwana Mkubwa SX/EW
facility and sulphuric acid plants. First Quantum also holds strategic
investments in Mopani Copper Mines (16.9%), operator of the Nkana underground
copper mine and cobalt refinery and the Mufulira underground copper mine,
smelter and copper refinery. In Mauritania, First Quantum operates the Guelb
Moghrein copper-gold mine. The Company is currently developing the Ravensthorpe
nickel project in Australia and the Kevitsa nickel-copper-PGE project in
Finland. Operations at the Company's Frontier copper mine and development of its
Kolwezi copper-cobalt tailings project, both in the Democratic Republic of
Congo, are currently suspended and subject to international arbitration.


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

G. Clive Newall, President

Cautionary Note Regarding Forward Looking Statement 

Certain statements and information herein, including all statements that are not
historical facts, contain forward-looking statements and forward-looking
information within the meaning of applicable U.S. and Canadian securities laws.
Such forward-looking statements or information include but are not limited to
statements or information with respect to the completion of announced but not
yet completed transactions, the anticipated benefits from announced but not yet
completed transactions, future price of copper or gold, estimation of mineral
reserves and mineral resources, First Quantum's exploration and development
program, estimated future expenses, exploration and development capital
requirements, and First Quantum's goals and strategies. Often, but not always,
forward-looking statements or information can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate" or "believes" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved.


With respect to forward-looking statements and information contained herein,
First Quantum and Antares have made numerous assumptions including among other
things, assumptions about the price of copper, gold, nickel, PGE, cobalt and
sulphuric acid, anticipated costs and expenditures and First Quantum's and
Antares' ability to achieve their goals. Although management of First Quantum
and Antares believe that the assumptions made and the expectations represented
by such statements or information are reasonable, there can be no assurance that
a forward-looking statement or information herein will prove to be accurate.
Forward-looking statements and information by their nature are based on
assumptions and involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or
information.


See First Quantum's annual information form and quarterly and annual
management's discussion and analysis for additional information on risks,
uncertainties and other factors relating to the forward-looking statements and
information. Although First Quantum and Antares have attempted to identify
factors that would cause actual actions, events or results to differ materially
from those disclosed in the forward-looking statements or information, there may
be other factors that cause actual results, performances, achievements or events
not to be anticipated, estimated or intended. Also, many of the factors are
beyond First Quantum's and Antares' control. Accordingly, readers should not
place undue reliance on forward-looking statements or information. Neither First
Quantum nor Antares undertakes any obligation to reissue or update
forward-looking statements or information as a result of new information or
events after the date hereof except as may be required by law. All
forward-looking statements and information made herein, are qualified by this
cautionary statement.


12g3-2b-82-4461 

Listed in Standard and Poor's

Grafico Azioni Antares Minerals (TSXV:ANM)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Antares Minerals (TSXV:ANM)
Storico
Da Giu 2023 a Giu 2024