First Quantum Minerals Declares a Final Dividend of CDN $0.005 per Share

TORONTO, ONTARIO--(Marketwired - Feb. 16, 2017) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM) announced today that its Board of Directors has approved a final dividend of CDN$0.005 per share in respect of the financial year ended December 31, 2016.

The dividend will be paid on May 8, 2017 to shareholders of record on April 17, 2017. The ex-dividend date is April 12, 2017.

This, together with the interim dividend of CDN$0.005, makes a total of CDN$0.01 for the 2016 financial year.

The Company has established a Dividend Reinvestment and Share Purchase Plan (the "Plan") for its Canadian resident shareholders ("Eligible Shareholders").

The Plan enables 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 provides the opportunity to make optional cash purchases of additional Common Shares on a semi-annual basis, on dividend payment dates.

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 no later than 4:00 p.m. Eastern 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.

Additional information on the Plan is available on www.investorcentre.com/first-quantum.

The dividends paid are considered eligible dividends for Canadian tax purposes.

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.