First Quantum Announces Launch of Dividend Reinvestment and Share Purchase Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2015) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced that its Board of Directors has approved the launch of a Dividend Reinvestment and Share Purchase Plan (the "Plan") for its Canadian resident shareholders ("Eligible Shareholders"). The Plan will be available to Eligible Shareholders for the first time with payment of the previously-announced dividend on May 6, 2015 to shareholders of record on April 15, 2015.

The Plan will allow Eligible Shareholders to reinvest the cash dividends paid on all or a portion of their Common Shares into additional Common Shares, which will be issued at 97% of the Average Market Price (as defined in the Plan) and the opportunity to make optional cash purchases of additional Common Shares on a semi-annual basis, on dividend payment dates.

The discount to the Average Market Price at which dividends may be reinvested under the Plan, currently set at 3%, may be changed at the discretion of the Board of Directors. In the event of such a change, First Quantum will issue an advisory press release in advance of the applicable record date and enrollment deadline.

To participate in the Plan, registered Eligible Shareholders must deliver a properly completed enrolment form to Computershare Trust Company of Canada ("Computershare") (in its capacity as "Plan Agent" under the Plan), as directed under the Plan, by not later than 4:00 p.m. (Toronto time) on the fifth business day immediately preceding a dividend record date in order for the cash dividend to which such record date relates to be reinvested under the Plan.

Beneficial shareholders (owners of Common Shares that are held through a nominee) who wish to participate in the Plan should contact the broker, investment dealer, financial institution or other nominee who holds their Common Shares to inquire about the applicable enrolment deadline and to request enrolment in the Plan.

Eligible Shareholders can obtain an enrolment form by contacting Computershare at 1-800-564-6253 or (514) 982-7555, or by visiting www.investorcentre.com/first-quantum. Shareholders are urged to carefully read the complete text of the Plan before making any decisions regarding their participation in the Plan.

No commissions, service charges or brokerage fees will be payable by Plan participants in connection with their purchase of Common Shares under the Plan. However, Beneficial shareholders who wish to participate in the Plan through the broker, investment dealer, financial institution or other nominee who holds their Common Shares should consult that nominee to confirm what fees, if any, the nominee may charge to enroll in the Plan on their behalf or whether the nominee's policies might result in any costs otherwise becoming payable by the beneficial shareholder.

Participation in the Plan will not relieve Plan participants of any liability for taxes that may be payable on dividends. Eligible Shareholders should consult their own tax advisors concerning the tax implications of their participation in the Plan having regard to their own particular circumstances.

The Common Shares and the Common Shares to be issued pursuant to the Plan are not, and will not be, registered under the United States Securities Act of 1933, as amended, and accordingly, the Common Shares issued pursuant to the Plan are not being publicly offered for sale in the United States or in any of the territories or possessions thereof or any other jurisdictions or to or for the benefit of "U.S. Persons" (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended). Participation in the Plan will not be accepted from any person or person's agent who is not an Eligible Shareholder.

Forward-Looking Information

Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Such forward-looking statements or information involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors may include, among others, those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the Autorité des marchés financiers in Quebec, the United States Securities and Exchange Commission and the London
Stock Exchange.

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

G. Clive Newall, President

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