First Quantum Minerals Addresses Supreme Court Ruling IN Panama IN Respect of Law 9 of 1997

NEWS RELEASE

18-21

September 25, 2018

www.first-quantum.com

FIRST QUANTUM MINERALS ADDRESSES SUPREME COURT RULING IN PANAMA

IN RESPECT OF LAW 9 OF 1997

First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”) today

addressed the announcement of a Supreme Court ruling in connection to the constitutionality of Law 9 of

1997.

Minera Panama, a subsidiary of the Company, understands that the Supreme Court ruling only affects the

enactment of Law 9, and does not affect the mining concession contract itself, which remains in effect and

therefore allows continuity of development of the Cobre Panama project.

Minera Panama is in the process of formally obtaining and examining the ruling and its applicabil ity and

is working with the appropriate parties to identify suitable legal remedies. Such remedies would need to be

analyzed by the Supreme Court.

The Cobre Panama project employs over 12,600 people of which approximately 1,500 are from the nearby

villages and towns. The project is the largest single private sector investment in Panama's history.

Further updates will be provided as warranted.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall

President

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

North American contact: Sharon Loung, Director, Investor Relations

Tel: (647) 346-3934 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: [email protected]

United Kingdom contact: Clive Newall, President

Tel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: [email protected]