FM.TO · 2020-07-07 12:00:00

First Quantum Announces Resumption of Normal Operations at Cobre Panama

Mine Development & Operations

NEWS RELEASE

20-17

July 7, 2020

www.first-quantum.com

FIRST QUANTUM ANNOUNCES RESUMPTION OF NORMAL OPERATIONS AT COBRE PANAMA

Toronto, Ontario ( July 7, 2020) - First Quantum Minerals Ltd. (“FQM” or the “Company”) (TSX: FM) announces

that Cobre Panama can resume full production. The Company has received notice of Resolution No. 1651, dated

July 03, 2020, issued by the Ministry of Health of the Republic of Panama (“MINSA”) lifting the temporary suspensions

at its Panamanian subsidiary, Minera Panama, S.A. Cobre Panama has been in Preservation and Safe Maintenance

mode since April 6, 2020. The Company will implement a reopening plan which provides for a phased increase of

onsite personnel while production is ramped up to an 85 million tonnes per annum annualized throughput rate.

As the priority for Cobre Panama remains the health and safety of the workforce and surrounding communities, the

strict protocols and sanitary vigilance will remain in place. There are currently approximately 800 personnel onsite,

which will be gradually increased in compliance with Cobre Panama’s reopening plan and in line with MINSA

guidelines. The operation is expected to ramp up to full production by mid -August, depending on successful

implementation of the reopening plan. No cases of COVID-19 have been detected on the Cobre Panama site since

April 30, 2020.

“We continue to work very closely with MINSA throughout the current COVID -19 pandemic, and we are confident

that we can adhere to our health protocols which are at the highest international standards ” said Gordon White,

General Manager, Cobre Panama. “ I am immensely proud of the ef forts of the Cobre Panama team during this

challenging time. The lifting of the suspension order is testament to the hard wo rk from each and every person on

the site, working away from their families over the past weeks .” Mr. White added: “Cobre Panama has received

support from the employee union UTRAMIPA, the local business community, and from the Government of Panama

to reach this milestone. We are especially grateful to the dedicated health professionals in the country who have

been working to resolve the wider pandemic in Panama whose efforts we will continue to support.”

The Company will provide updated 2020 production guidance for Cobre Panama with the second quarter results in

late July.

For more detail on the Company’s COVID-19 plan, please visit:

https://www.first-quantum.com/English/sustainability/programs/covid-19-global-response/default.aspx

For further information, visit our website at www.first-quantum.com

North American contact: Lisa Doddridge, Director, Investor Relations

Tel: (416) 361-6400 Toll-free: 1 (888) 688-6577

UK contact: Clive Newall, President

Tel: +44 7802 721663