TORONTO, CANADA — (Marketwire) — 03/08/13 — Inmet Mining Corporation („Inmet“) (TSX: IMN) today posted an open letter to its shareholders regarding the unsolicited offer from First Quantum Minerals Ltd. to acquire Inmet (the „First Quantum Offer“). The full text of the letter, which is available online at is as follows:
Reject the First Quantum offer. Do not tender your shares.
Dear Inmet Shareholder,
On March 11, 2013, the unsolicited offer from First Quantum Minerals Ltd. will expire, unless it is further extended. On behalf of the Special Committee of the Inmet Board of Directors, I would like to share with you the following reasons why the Inmet Board of Directors continues to strongly recommend that you reject the First Quantum offer:
The Special Committee and the Board would be prepared to meet with First Quantum to discuss a supported transaction if First Quantum is prepared to make a fair offer to Inmet-s shareholders. The Special Committee and the Board believe that, absent a fair offer, executing on the current plan will create higher value for shareholders. Inmet has an outstanding track record of increasing shareholder value and we have all the pieces in place to continue that trend.
That-s why, on behalf of the Inmet Board of Directors, I continue to urge you to reject the inadequate First Quantum offer and not tender your shares.
Sincerely,
David R. Beatty, O.B.E.
Chairman of the Board of Directors
Inmet Mining Corporation
How to Withdraw Inmet Shares from the Inadequate First Quantum Offer
Shareholders with questions about the Directors- Circular or who may have already tendered their shares to the First Quantum Offer and wish to withdraw them are asked to immediately contact Inmet-s information agent, Laurel Hill Advisory Group, at +1 877 452 7184.
About Inmet Mining Corporation
Inmet is a Canadian-based global mining company that produces copper and zinc. We have three wholly-owned mining operations: Cayeli (Turkey), Las Cruces (Spain) and Pyhasalmi (Finland). We have an 80 percent interest in Cobre Panama, a development property in Panama, currently in construction.
Forward-Looking Information
Securities regulators encourage companies to disclose forward-looking information to help investors understand a company-s future prospects. This press release contains forward-looking information. These are „forward-looking“ because we have used what we know and expect today to make a statement about the future. These statements involve known and unknown risks and uncertainties, including those associated with current global economic and financial conditions, metal prices, Inmet-s share price, the cost and availability of key development and production inputs, labour shortages or disruptions, environmental and health and safety risks, reserve and production estimates, exploration and development of new and existing mines, political and country risks, additional funding requirements, financial leverage, the outcome of the First Quantum Offer and the strategic alternatives process that Inmet is currently undertaking, and other factors which may cause the actual results, performance or achievements of Inmet to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements usually include words such as may, expect, anticipate, and believe or other similar words. However, actual events and results could be substantially different because of the risks and uncertainties associated with our respective business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements.
Contacts: Inmet Shareholder Contact: Inmet Mining Corporation Flora Wood Director, Investor Relations +1 416 361 4808
Inmet Media Contact: Longview Communications Inc. David Ryan +1 416 649 8007
Laurel Hill Advisory Group North American Toll Free: +1 877 452 7184 Banks and Brokers and collect calls outside North America: +1 416 304 0211
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