NEWS RELEASE Minera Panama, S.A. and Petaquilla Minerals Ltd. Sign $60 Million Agreement (In United States dollars, except where noted otherwise)Commercial Agreement • May 9th, 2014 • Petaquilla Minerals LTD • Metal mining
Vancouver, BC – May 8, 2014: Minera Panama, S.A. (“MPSA”) a subsidiary of First Quantum Minerals Ltd. (“First Quantum”, TSX Symbol “FM”, LSE Symbol “FQM) and Petaquilla Minerals Ltd. (“PTQ”, TSX Symbol “PTQ”, OTCBB Symbol “PTQMF”, FWB Symbol “P7Z”) today announced the execution of an amendment to the Commercial Agreement Term Sheet dated May 23, 2013 (“Second Amendment”). MPSA is to pay PTQ up to $60 million for a transfer of a range of assets and property rights. The transaction ensures there will be a complete separation of the current operations of PTQ’s Molejon Gold mine and the Cobre Panama copper project currently being developed by First Quantum.
