Robinson Mine Delivered Record Ex-Pit Mining Volumess 

VANCOUVER, BC - Paul Blythe, President and CEO of Quadra FNX Mining Ltd.  said, "Our focus on our operations and development projects has remained unchanged. The key at Robinson continues to be increasing operating flexibility, through the various measures previously discussed including bench widths, pit slopes, stockpile buffers and working faces. Although mill maintenance and slope stability issues precluded an increase in actual copper production compared to the previous quarter, the total tonnes mined increased by over 40% quarter over quarter, setting the stage for 2012. At Morrison the previously announced lease agreement with Xstrata Nickel relating to the Craig shaft was completed during the quarter and transition work began immediately. Agreements were also reached that significantly increased our mineral rights footprint at Sierra Gorda and the project remains on schedule and budget. At Victoria a new, larger resource was also established, taking into account 2011 drilling, as engineering, consultation and permitting activities continued."

In the quarter, Robinson Mine delivered record ex-pit mining volumes and continuing grade improvement as mining transitioned into the higher grade benches at the bottom of the Ruth pit. December performance was impacted by planned and unplanned mill maintenance issues. A localized pit wall failure resulted in delaying access to areas of high grade ore at the bottom of the Ruth pit although this was offset somewhat by stockpile drawdown.

In Sudbury, all three operations continued to produce at or above expectations. During the quarter, the Company and Xstrata Nickel signed the Craig Mine Lease Agreement which allows Quadra FNX to utilize the underground infrastructure of the Craig Mine to further develop and mine the Morrison deposit. The Company expects the transition to the Craig Mine to be completed in Q2 2011. Mining of nickel ore for delivery to Xstrata continued at McCreedy West.

During the quarter, the focus at Franke remained on selective mining of lower carbonate ores and the continuing advancement of engineering studies on the nearby China deposit. At Carlota, the Company continues to concentrate on mining oxide ores and utilizing conveyor stacking.

At the Victoria Project, ongoing infill drilling has increased the inferred resource tonnage from the NI 43-101 release of June, 2011 of 12.5 million tonnes grading 2.2% Ni, 2.3% Cu and 8.5 g/t TPMs to 14.5 million tonnes grading 2.5% Ni, 2.5% Cu and 7.6 g/t TPM's. This equates to a 16% increase in tonnes and 32%, 26% and 4% increase in contained Ni, Cu and TPMs, respectively. Borehole geophysical surveys have yielded significant extensions of electromagnetic conductance that are interpreted to be sulphide mineralization down-dip of the known Victoria Zone 4 mineral envelope. Additional conductive domains have been identified several hundreds of meters to the west of Zone 4. Diamond drilling designed to test these conductive domains is planned to continue in 2012.

During the quarter Quadra FNX announced it had entered into a definitive agreement (the "Arrangement") with KGHM Polska Miedz S.A. for the acquisition of all of the outstanding common shares and all of the outstanding warrants of Quadra FNX. This proposal represents a significant premium to the Company's share price prior to the offer and the board of directors of Quadra FNX unanimously recommends that securityholders vote FOR the special resolution approving the Arrangement at the upcoming Special Meeting of securityholders.

The company's address is Suite 2414, Four Bentall Centre, 1055 Dunsmuir Street, Vancouver, BC V7X 1K8, 604-689-8550, fax: 604-689-8556.