First Quantum Minerals Responds to News Article Regarding Claims by the Zambia Revenue Authority

TORONTO, March 20, 2018 /PRNewswire/ --

First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM") today responded to a news article about claims made by the Zambia Revenue Authority ("ZRA") regarding underpayment of customs duties.

The Company confirms that it is in possession of a letter from the ZRA, dated March 19, 2018, noting an assessment for import duties, penalties and interest on consumables and spare parts of 76.5 billion Zambian kwacha.

The Company unequivocally refutes this assessment which does not appear to have any discernable basis of calculation and will continue working with the ZRA, as it normally does, to resolve the issue.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.   
G. Clive Newall 
President 

For further information visit our website at http://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: sharon.loung@fqml.com; United Kingdom contact: Clive Newall, President, Tel: +44-140-327-3484, Fax: +44-140-327-3494, E-Mail: clive.newall@fqml.com