First Quantum Reports Production Resumption at Cobre Las Cruces

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NEWS RELEASE

19-04

February 1, 2019

www.first-quantum.com

FIRST QUANTUM REPORTS PRODUCTION RESUMPTION AT COBRE LAS

CRUCES

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

that the hydrometallurgical plant at Cobre Las Cruces has resumed copper production with the

processing of lower-grade stockpiled ore. The stockpiled ore is expected to provide feed for the

next several months while the Company obtains the necessary regulatory approvals to begin

mining at Phase 6, an area unaffected by the incident.

The Company previously reported that a major l and slippage occurred at the Cobre Las Cruces

operation (see press releases dated January 23 and January 28) , located in Gerena, Seville

Province, Spain, that resulted in the shut -down of the open pit operation and management

decided to shut down the hydrometallurgical complex . Prior to the incident m ine personnel

identified a risk and immediately implemented safety protocols. Following the incident, the pit

was evacuated and no injuries occurred. The slippage mainly affected the north slope of the mine

pit and part of the mine waste storage area. These materials, mostly clay, were displaced to the

interior of the pit and covered the majority of the pit floor, but did not impact the area containing

Phase 6 or access to that area.

The investigation of the incident causes and impact continues with the involvement of the

required Government authorities and i ndependent geote chnical experts. The investigation is

expected to take some time to complete.

While the investigation is being completed, work to repair the pit will continue aimed at resuming

normal mining activity which can occur once regulatory approvals have been received. Mining is

expected to resume at Phase 6 which was not affected by the slippage and contains the majority

of the resource remaining in the current ore body.

The company is dedicating all the necessary resources to respond to the incident. The safety of

people and the protection of the environment are the first priority for Cobre Las Cruces and the

Company. Additional information will be provided as available.

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

G. Clive Newall

President

First Quantum Minerals Q4 and Year 2018 Production and Sales 19-01

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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 E-Mail: [email protected]

United Kingdom contact: Clive Newall, President

Tel: +44 7802 721663 Fax: +44 140 327 3494 E-Mail: [email protected]