SailingStone Capital Partners LLC

SailingStone Capital Partners LLC

January 21, 2016 14:35 ET

SailingStone Capital Partners LLC Reports Increase in Ownership of Common Shares of First Quantum Minerals Ltd.

TORONTO, ONTARIO--(Marketwired - Jan. 21, 2016) - SailingStone Capital Partners LLC ("SailingStone"), announced today that accounts over which SailingStone has investment authority (collectively, the "Accounts") acquired an aggregate of 8,468,270 common shares ("Common Shares") in the capital of First Quantum Minerals Ltd. (the "Issuer") during the month of December 2015 at purchase prices ranging from CDN$3.92 to $5.13 per Common Share, for aggregate consideration of CDN$38,869,359.

Before these transactions, SailingStone controlled or exercised control or direction over an aggregate of approximately 76,812,381 Common Shares representing a security holding percentage of approximately 11.15%. Immediately after giving effect to the transactions noted above, SailingStone controls or exercises discretion over an aggregate of 95,089,978 Common Shares, representing 13.8% of the issued and outstanding Common Shares, based upon the most recently available public information regarding the total issued and outstanding Shares of the Issuer.

The Accounts over which SailingStone has investment authority have acquired the Common Shares for investment purposes and may increase or decrease its interests in the Issuer in the future as considered appropriate in light of market conditions and other factors.

An Early Warning Report respecting these transactions will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

About SailingStone Capital Partners LLC

SailingStone Capital Partners LLC is an employee-owned investment advisory firm focused exclusively on providing investment solutions in the natural resources sector. Based in San Francisco, SailingStone manages concentrated, long-only separate accounts for institutional investors.

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