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First Quantum Announces Completion of the Sale of Kevitsa

06/01/2016

TORONTO, ONTARIO--(Marketwired - June 1, 2016) -

(In United States dollars, except where noted otherwise)

First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced the completion of the sale of the Kevitsa nickel-copper-platinum group elements mine to Boliden AB.

Total proceeds from the sale, excluding working capital adjustments, amounts to $712 million in cash.

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

G. Clive Newall, President

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Listed in Standard and Poor's

For further information visit our website at www.first-quantum.com.

Contact Information:
North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934
(604) 688-3818 (FAX)
Toll Free: 1 (888) 688-6577
sharon.loung@fqml.com


United Kingdom contact:
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
clive.newall@fqml.com