African Mineral Standards

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1 Tel: Fax: web: 30 Electron Avenue, Isando, P.O. Box 856, Isando, 1600, South Africa. A Division of Set Point Industrial Technolog y ( Pty ) Ltd. Reg.No. 1989/000201/07. African Mineral Standards Certificate of Analysis Copper Sulphide Ore Reference Material from Kansanshi, Zambia AMIS0119 Recommended Concentration and two Between Laboratory Standard Deviations Certified Concentrations Cu F ± % Cu M/ICP ± % Cu P ± % Cu XRF ± % SG 2.70 ± 0.17 g/cc Provisional Concentrations Co M/ICP 34.7 ± 5.1 ppm Ni M/ICP 154 ± 20 ppm U M/ICP 7.0 ± 1.1 ppm Directors: GJ Horsfield (CEO), MD Evers (CFO)(British), ND Kennelly, SJ Ingram, MC Louw, Dr CJ Rademeyer, N Robinson, MJ Smith, MH Snelling, J Vassiloudis, D Williams

2 Intended Use: AMIS0119 is suitable to monitor the accuracy of a single analysis of copper ore. The material can be used for routine quality control by inserting within a batch of samples, method development and for the calibration of equipment. The recommended mean and "Between Lab" standard deviations for this standard reflect the average results from the laboratories that participated in the round robin. Slight variations in analytical procedures between laboratories will reflect as slight biases to the recommended concentrations and this is acceptable. Good laboratories however will report results within the two standard deviation levels with a failure of <10 %. Origin of Material: This standard was made using sulphide ore sourced from the Kansanshi project, located in the North Western Province of Zambia, approximately 15 kilometres north of the town of Solwezi and 16 kilometres south of the Democratic Republic of Congo border. The Kansanshi project is majority owned by Cyprus Amax Kansanshi Holdings Limited, which is 100% owned by First Quantum Minerals Ltd (FQM). The Kansanshi deposit occurs within the Lufilian arc, a major tectonic province characterized by broadly north directed fold and thrust structures, which hosts the world class Central African Copperbelt. The property geology is dominated by the northwest-trending Kansanshi Antiform, which exposes rocks of the Late Proterozoic Kansanshi Mine Formation in the core of a major refolded fold. Copper mineralization occurs both in and between steeply dipping, generally northsouth trending quartz-carbonate veins and vein swarms, and as foliation parallel stratabound mineralization, within albite and carbonate altered phyllitic rocks of the Mine Formation. Deep tropical weathering has resulted in supergene enrichment and subsequent partial oxidation of the deposit. Mineralization comprises copper oxide and mixed copper oxide/chalcocite mineralization hosted by saprolitized phyllites, decalcified marbles and schists. This secondary mineralization is underlain by a large tonnage of primary sulphide mineralization, with chalcopyrite and subordinate bornite as the dominant minerals. Oxide and mixed oxide/sulphide copper mineralization grading plus 0.5% copper occurs principally within two essentially flat lying orebodies, separated by a mostly barren marble unit. In some areas, the marble unit has been completely decalcified during weathering and in these cases the two ore bodies are combined. Deeper primary sulphide mineralization occurs in other discrete flat lying phyllite units. (for more information, refer to the First Quantum Minerals Ltd Kansanshi Fact Sheet, Sept 2006, Chemical Composition: The major element chemistry below was determined from (predominantly) XRF data supplied by fourteen of the laboratories. mean 2SD RSD% n Al 2 O CaO Cr 2 O Fe 2 O K 2 O LOI MgO MnO Na 2 O P 2 O S SiO TiO

3 Appearance: The material is a very fine Medium Light Grey powder (Corstor Colour Gauge 10Y 6/2). Method of Preparation: The material was crushed, dry-milled and air-classified to 100% <54um. Wet sieve particle size analysis of random samples confirmed the material was 100% <54um. It was then blended in a bi-conical mixer, systematically divided and then sealed into 1kg Laboratory Packs. Explorer Packs are subdivided from the Laboratory packs as required. Samples were randomly selected for homogeneity testing and third party analysis. Statistical analysis of both homogeneity and the consensus test results were carried out by an independent statistician. Methods of Analysis Requested: 1. Cu, Fusion AAS or ICP-OES. 2. Multi-acid digest multi-element scan - ( to include Cu, Co, Ni, Pb, As, Zn, Ag, U. ). ICP- OES or ICP-MS. 3. Aqua regia digest - Cu, Co. ICP-OES or ICP-MS. 4. Pressed pellet multi-element scan - ( to include Cu, Co, Ni, Pb, As, Zn, Ag, U. ). XRF. 5. Fusion ( Majors ). XRF. 6. Au. Pb collection ICP-OES or ICP-MS. 7. Cu QBM/AAS Acid Soluble Copper as per Bwana Mkubwa method supplied. 8. SG. Gas pycnometer. Method of Certification: Twenty two laboratories were each given eight randomly selected packages of sample. Results from the sixteen laboratories that reported back timeously were used for the determinations below: The mean and standard deviation for all data was calculated. Outliers were defined as samples beyond the mean ± 2 Standard Deviations from all data. These outliers were removed from the data and a new mean and standard deviation was determined. Total results from some laboratories that reported significant failures were also removed. This method is different from that used to calculate the Confidence Interval shown on many Government-produced standards in that the actual between-laboratory standard deviation is used in the calculations. This produces upper and lower limits that reflect actual individual analyses rather than a grouped set of analyses. The limits can therefore be used to monitor accuracy from individual analyses, unlike the Certified Limits published on other standards which quote a Confidence Interval. Participating Laboratories: (Not in the same order as in the table of assays) 1. ACME Analytical Laboratories Ltd CA 2. Activation Laboratories Pty Ltd (ActLabs) CA 3. ALS Chemex Laboratory Group Perth WA 4. ALS Chemex Laboratory Group Vancouver CA 5. Anglo Research (Crown Campus) 6. Assayers Canada 7. Genalysis Laboratory Services WA 8. Geoscience Laboratories (GEO LABS) CA 9. Intertek Utama Services (Indonesia) 10. Labtium Inc Finland 11. OMAC Laboratories Limited (Ireland) 12. Set Point Laboratories (Isando) SA 13. SGS Australia Pty Ltd (Newburn) WA 14. SGS Lakefield Research Africa Pty Ltd (Booysens) SA 15. SGS Mineral Services Lakefield (Canada) 16. Ultra Trace (Pty) Ltd WA 3

4 Assay Data: Data as received from the laboratories for the important certified elements listed on p1 is set out below. A proficiency report has been sent to the managers of the participating laboratories. Insufficient results were received for certification of Cu Acid Soluble, Au and Ag, but the data is also provided in this table. Additional data from this round robin on the other elements is available on p2 and in the appendix. Lab Ag Au Co Cu Cu Cu Cu Cu Ni SG U Lab Ag Au Co Cu Cu Cu Cu Cu Ni SG U Code ppm g/t ppm ppm ppm ppm ppm ppm ppm g/cc ppm Code ppm g/t ppm ppm ppm ppm ppm ppm ppm g/cc ppm M/ICP PbColl M/ICP Acid sol F M/ICP P XRF M/ICP M/ICP M/ICP PbColl M/ICP Acid sol F M/ICP P XRF M/ICP M/ICP A K A K A K A K A K A K A K A K B L B L B L B L B L B L B L B L C M C M C M C M C M C M C M C M D N 3393 D N 3253 D N 3272 D N 3278 D N 3334 D N 3330 D N 3399 D N 3261 E 6561 O E 6411 O E 6662 O E 6412 O E 6401 O E 6409 O E 6460 O E 6543 O F P F P F P F P F P F P F P F P H T H T H T H T H T H T H T H T I V I V I V I V I V I V I V I V

5 Availability: This product is available in Laboratory Packs containing 1kg of material or in Explorer Packs containing client specified weights of material (from 50g up to 250g). Laboratory Packs are sealed bottles delivered in sealed foil pouches. Explorer Packs contain material in standard geochem envelopes placed into foil pouches that are nitrogen flushed and vacuum sealed. Legal Notice: This certificate and the reference material described in it have been prepared with due care and attention. However AMIS, Set Point Technology (Pty) Ltd, Mike McWha, Dr Barry Smee and Smee and Associates Ltd; accept no liability for any decisions or actions taken following the use of the reference material. 28 August 2008 Certifying Officers: African Mineral Standards: Mike McWha BSc (Hons), FGSSA, MAusIMM, Pr.Sci.Nat Geochemist: Barry W. Smee BSc, PhD, P.Geo, (B.C.) 5

6 APPENDIX Thirteen laboratories supplied additional trace element data. The iterated but uncertified statistics are presented below. Method Unit Mean 2SD RSD% n Ag M/ICP ppm Al M/ICP % As M/ICP ppm Au PbColl ppm Ba M/ICP ppm Be M/ICP ppm Bi M/ICP ppm Ca M/ICP % Ce M/ICP ppm Cr M/ICP ppm Cs M/ICP ppm Dy M/ICP ppm Er M/ICP ppm Eu M/ICP ppm Fe M/ICP % Ga M/ICP ppm Gd M/ICP ppm Hf M/ICP ppm Ho M/ICP ppm K M/ICP % La M/ICP ppm Li M/ICP ppm Lu M/ICP ppm Mg M/ICP % Mn M/ICP ppm Mo M/ICP ppm Na M/ICP % Nb M/ICP ppm Nd M/ICP ppm P M/ICP ppm Pb M/ICP ppm Pr M/ICP ppm Rb M/ICP ppm Sb M/ICP ppm Sc M/ICP ppm Sm M/ICP ppm Sn M/ICP ppm Sr M/ICP ppm Ta M/ICP ppm Tb M/ICP ppm Te M/ICP ppm Th M/ICP ppm Ti M/ICP % Tl M/ICP ppm Tm M/ICP ppm V M/ICP ppm W M/ICP ppm Y M/ICP ppm Yb M/ICP ppm Zn M/ICP ppm Zr M/ICP ppm