First Quantum Minerals Announces the Retirement of Martin Rowley

TORONTO, ONTARIO--(Marketwired - May 17, 2017) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM) today announced that Executive Director, Business Development and Director of the Company, Mr. Martin Rowley will retire on June 30, 2017.

After co-founding First Quantum Minerals with Philip Pascall and Clive Newall in 1996, Mr. Rowley was Chief Financial Officer and Director until 2007, then assumed the role of Executive Director, Business Development. From humble beginnings, with the 10,000 tonnes-per-annum Bwana Mkubwa tailings retreatment project in Zambia, Mr. Rowley has been integral in the sustained growth of the Company to the major copper producer it is today, with annual production approaching 1 million tonnes of copper per annum. Significant milestones have included the acquisition and development of Africa's largest copper mine, the Kansanshi mine in Zambia, and the takeover of Inmet Corporation and its tier-one Cobre Panama copper project in Panama.

Mr. Rowley reflected, "I have enjoyed an absolutely amazing journey with First Quantum, working on many outstanding projects and with exceptionally loyal and committed people. The strength and support of the business relationships established since starting First Quantum have also been a critical element in the success of the Company."

"It is a difficult decision to retire as an executive at this stage of exciting development and growth of the Company, but after over 20 years in executive roles I am confident that with the energy and culture of First Quantum's people, succession will be seamless and the business strategy will continue to be successful as it has to date."

"One of the most satisfying elements of the First Quantum journey has been the benefits that have flowed to the communities in which we operate our mines throughout the world."

Mr. Philip Pascall, Chairman and CEO, said "Martin's role in First Quantum's development and growth has been vital. His contribution to the board will not be easily replaced. We will miss his humour and unique perspectives. Fortunately, Martin will carry on in a consulting role and I look forward to his continuing advice, business acumen and creative ideas. We all wish him well in a more relaxed retirement life."

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.