Ms. Pamela Solly reports

THOMPSON CREEK ANNOUNCES COMPLETION OF THE ENDAKO MILL EXPANSION PROJECT AND PRELIMINARY FIRST QUARTER 2012 PRODUCTION AND CASH COST RESULTS

Thompson Creek Metals Company Inc. has completed the mill expansion project at the Endako mine. As previously announced, commissioning of the company's new SAG/ball mill and rougher flotation circuit was completed in early January, followed by a successful ramp-up to commercial production beginning Feb. 1, 2012. The remaining construction work on the regrind circuit and the pebble crusher was completed in late March. The mill is meeting its design capacity throughput of approximately 55,000 tons per day. Concentrate and recovery grades continue to improve and are expected to meet design capacity in the second quarter of 2012. The existing 45-year-old mill at the site has been shut down and will be left on care and maintenance.

For the first quarter of 2012, the company expects to realize an operating loss primarily due to the start-up and commissioning of the new mill at the Endako mine. First quarter 2012 results are expected to include the company's 75-per-cent share of an aggregate lower-of-cost or market product inventory writedown at the Endako mine of approximately $12-million and approximately $3-million of the company's share of Endako commissioning and start-up costs that will be expensed through operating expenses (previously included in the company's share of total estimated capital expenditures of approximately $500-million), together with significantly lower production, higher unit costs, higher unit depreciation, and lower sales volumes and average realized prices compared with the first quarter of 2011. Significant stripping costs at the Thompson Creek mine, associated with the continuing mine pit pushbacks, have been incurred and are expected to continue in the first half of 2012, which also contributed to the expected operating loss for the first quarter.

For the first quarter of 2012, the company produced approximately 4.4 million pounds of molybdenum at an average cash cost of approximately $13 per pound produced (excluding commissioning and start-up costs at the Endako mine) and sold approximately 4.9 million pounds of molybdenum from its mines, for an average realized molybdenum sales price per pound for the quarter of approximately $14.75. For the first quarter of 2012, the Thompson Creek mine produced approximately 3.4 million pounds of molybdenum at a cash cost of approximately $10.35 per pound produced, and the company's share of production from the Endako mine was approximately one million pounds of molybdenum for the first quarter at a cash cost of approximately $22 per pound produced.

"We are extremely pleased to have completed the construction of the new mill at the Endako mine and to have achieved design capacity throughput so quickly in the start-up process," said Kevin Loughrey, chairman and chief executive officer of Thompson Creek. "Our dedicated employees, contractors and suppliers performed a remarkable job, commissioning the new mill and achieving design capacity throughput in approximately 20 days under extreme and difficult winter conditions, with temperatures at times reaching minus 40 C," added Mr. Loughrey.

"The higher costs and lower production that we experienced during the commissioning and start-up phase are typical with projects like this, and, although production was lower and costs were higher from the Endako mine in the first quarter of 2012, through continued optimization, we expect to make up for the lower production throughout the remainder of 2012 and to meet our previously announced 2012 production guidance from the Endako mine of approximately 14 [million] to 15 million pounds of molybdenum on a 100-per-cent basis, or 10 [million] to 11 million pounds for the company's 75-per-cent share," said Mr. Loughrey. "We anticipate meeting our total 2012 production guidance of approximately 26 [million] to 28 million pounds of molybdenum; however, due to inflationary pressures on diesel fuel, consumables and energy, we are currently tracking to the higher range of the company's current 2012 average cash cost guidance of approximately $7.75 to $9 per pound produced. If the current inflationary pressures continue, our costs will continue to increase and potentially rise above the current guidance," added Mr. Loughrey.

We seek Safe Harbor.