First Quantum Minerals Responds to Media Reports

NEWS RELEASE

19-18

September 23, 2019

www.first-quantum.com

FIRST QUANTUM MINERALS RESPONDS TO MEDIA REPORTS

TORONTO, Ontario (September 23, 2019) - First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM)

is aware of speculation regarding a potential transaction involving Jiangxi Copper Co. Ltd. The Company confirms that

discussions regarding a potential sale of a minority interest in First Quantum’s Zambian copper assets have occurred and

are continuing. No transaction has been agreed upon and there is no guarantee that a transaction will be achieved.

There has also been speculation of a takeover bid. First Quantum has not engaged in any discussions regarding a take-over

bid or other change of control transaction and has no knowledge of potential take-over bids, change of control transactions

or proposals.

The Company will update the market 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: Lisa Doddridge, Director, Investor Relations

Tel: (416) 361-3752 Toll free: 1 (888) 688-6577 Email: [email protected]

United Kingdom contact: Clive Newall, President

Tel: +44 7802 721663 Email: [email protected]