Mr. Jacques Perron reports

THOMPSON CREEK METALS COMPANY REPORTS INCREASE IN SECOND QUARTER 2014 OPERATING INCOME OF 233% AND POSITIVE NET CASH FLOW

Thompson Creek Metals Company Inc. has released its financial results for the three and six months ended June 30, 2014, prepared in accordance with United States generally accepted accounting principles (GAAP). All dollar amounts are in U.S. dollars unless otherwise indicated.

"We are pleased with our improving safety performance, operational results and ending cash position," said Jacques Perron, chief executive officer of Thompson Creek. "We ended the quarter with an increase in cash from the first quarter of this year, which is another significant milestone for our company following the completion of Mt. Milligan mine. During the second quarter of 2014, we continued to focus on execution at Mt. Milligan and achieved an average mill throughput of 48,065 tonnes per day for the month of June, 2014, and experienced improvements in both copper and gold recoveries. Looking ahead, management will remain focused on the Mt. Milligan ramp-up. We continue to expect fluctuations in mill throughput until we consistently achieve approximately 80 per cent of design capacity, which we expect by year-end 2014, and 100 per cent by year-end 2015."

Highlights for the second quarter of 2014:

• Total cash and cash equivalents at June 30, 2014, were $216.1-million compared with $202.7-million at March 31, 2014, and $233.9-million at Dec. 31, 2013;
• Cash generated by operating activities was $50.7-million in the second quarter of 2014 compared with $45.2-million in the second quarter of 2013;
• Consolidated revenues for the second quarter of 2014 were $248.4-million, up from $117.8-million for the second quarter of 2013, primarily as a result of copper and gold revenue of $118.9-million from Mt. Milligan mine. For the second quarter of 2014, the company made three shipments of copper and gold concentrate, and recorded four sales;
• Sales volumes and average realized sales prices for copper and gold in the second quarter of 2014 were 21.9 million pounds of copper at an average realized price of $3.20 per pound and 51,983 ounces of gold at an average realized price of $1,047 per ounce. Molybdenum sales volumes in the second quarter of 2014 were 9.7 million pounds at an average realized price of $13.03 per pound compared with 9.7 million pounds at an average realized price of $11.60 per pound for the second quarter of 2013;
• Consolidated operating income for the second quarter of 2014 was $57.3-million compared with operating income of $17.2-million for the second quarter of 2013. The increase in consolidated operating income in the second quarter of 2014 was due primarily to the addition of operating income from the Mt. Milligan mine and increased operating income from the Thompson Creek mine;
• Net income for the second quarter of 2014 was $61.6-million, or 28 cents per diluted share, compared with a net loss of $19.2-million, or 11 cents per diluted share, for the second quarter of 2013. The second quarter of 2014 and 2013 included non-cash foreign exchange gains of $42.3-million and foreign exchange losses of $34.8-million, respectively, primarily on intercompany notes;
• Non-GAAP adjusted net income for the second quarter of 2014 was $22-million, or 10 cents per diluted share, compared with non-GAAP adjusted net income of $13.8-million, or six cents per diluted share, for the second quarter of 2013. Non-GAAP adjusted net income for the second quarter of 2014 and 2013 excluded foreign exchange gains and losses, net of tax impacts, respectively;
• Copper and gold payable production during the second quarter of 2014 was 16 million pounds of copper and 37,030 ounces of gold. Non-GAAP unit cash costs for copper and gold for the second quarter of 2014 were, on a byproduct basis, 33 cents per pound of copper, and, on a co-product basis, $1.97 per pound of copper and $538 per ounce of gold. The byproduct cash cost for copper was positively impacted by gold revenues from four sales of copper and gold concentrate during the second quarter of 2014, which increased the gold byproduct credits. Timing of concentrate sales will impact the byproduct cash costs for Mt. Milligan on a quarter-by-quarter basis;
• Molybdenum production for the second quarter of 2014 was 7.5 million pounds compared with 6.5 million pounds in the second quarter of 2013. Non-GAAP average molybdenum cash cost per pound produced for the second quarter of 2014 was $6.25 per pound compared with $7.46 per pound in the second quarter of 2013;
• Capital expenditures in the second quarter of 2014 were $26.7-million, comprising $25.9-million for the Mt. Milligan mine and $800,000 of other capital costs for the Endako mine, TC mine, the Langeloth facility and corporate combined, compared with $119.5-million in the second quarter of 2013;
• Total debt, including capital lease obligations, at June 30, 2014, was $983.8-million, compared with $1,012.8-million at Dec. 31, 2013.

The company experienced improved molybdenum production and costs for the second quarter of 2014, together with higher average realized molybdenum prices, as compared with the second quarter of 2013. As previously reported, the company expects to put the TC mine on care and maintenance at the end of 2014, but continues to evaluate economically viable options to recommence stripping of phase 8 and continue operations.

During the second quarter of 2014, the company took an initial step to reduce its debt by conducting an exchange offer for its outstanding 6.5-per-cent tangible equity units (TMEDS). The exchange offer expired on June 24, 2014, and 7,206,862 units, or 86.4 per cent of the TMEDS, were tendered for exchange and accepted by the company. In exchange for the tendered TMEDS, the company issued 42,129,829 shares of its common stock (compared with approximately 38,829,852 shares which would have been issued with respect to such TMEDS on mandatory conversion on May 15, 2015). As a result of the tendered TMEDS, the company extinguished $10.4-million of future cash principal and interest payments. As of June 30, 2014, 1,133,138 TMEDS remain outstanding, and will continue to be held pursuant to their original terms and conditions, including mandatory conversion on May 15, 2015. Pursuant to an effective delisting application, the TMEDS are no longer listed on the New York Stock Exchange.

       SELECTED CONSOLIDATED FINANCIAL AND OPERATIONAL INFORMATION
        (in millions of U.S. dollars except per-share amounts)

                                     Three months ended    Six months ended
                                                June 30,            June 30,
                                         2014      2013      2014      2013

Financial information
Revenues
Copper sales                         $   64.8  $     --  $   94.6  $     --
Gold sales                               54.1        --      78.5        --
Molybdenum sales                        126.3     112.7     229.2     217.4
Tolling, calcining and other              3.2       5.1       7.1       9.1
Total revenues                          248.4     117.8     409.4     226.5
Costs and expenses
Cost of sales
Operating expenses                      148.2      77.1     261.8     145.8
Depreciation, depletion and
amortization                             33.0      14.2      55.6      26.9
Total cost of sales                     181.2      91.3     317.4     172.7
Total costs and expenses                191.1     100.6     339.0     192.3
Operating income                         57.3      17.2      70.4      34.2
Other (income) expense                  (18.8)     34.4      48.4      53.7
Income (loss) before income and
mining taxes                             76.1     (17.2)     22.0     (19.5)
Income and mining tax (benefit)
expense                                  14.5       2.0      (0.5)     (1.2)
Net income (loss)                    $   61.6  $  (19.2) $   22.5  $  (18.3)
Net income (loss) per share
Basic                                $   0.35  $  (0.11) $   0.13  $  (0.11)
Diluted                              $   0.28  $  (0.11) $   0.10  $  (0.11)
Cash generated by (used in)
operating activities                 $   50.7  $   45.2  $   66.9  $   60.5
Adjusted non-GAAP measures 
Adjusted net income                  $   22.0  $   13.8  $   26.3  $   31.7
Adjusted net income per
share -- basic                       $   0.13  $   0.08  $   0.15  $   0.19
Adjusted net income per
share -- diluted                     $   0.10  $   0.06  $   0.12  $   0.15

                        OPERATIONAL STATISTICS

                                     Three months ended    Six months ended
                                                June 30,            June 30,
                                         2014      2013      2014      2013
Copper
Payable production (000s lb) (1)       16,035        --    30,278        --
Cash cost ($/payable lb produced) 
Byproduct                            $   0.33   $    --   $  1.34   $    --
Cash cost ($/payable lb produced) 
Co-product                           $   1.97   $    --   $  2.11   $    --
Payable production sold (000s lb)      21,939        --    32,732        --
Average realized sales
price ($/lb)                         $   3.20   $    --   $  3.14   $    --
Gold
Payable production (oz) (1)            37,030        --    76,273        --
Cash cost ($/payable oz produced) 
Co-product                           $    538   $    --   $   573   $    --
Payable production sold (oz)           51,983        --    75,857        --
Average realized sales
price ($/oz)                         $  1,047   $    --   $ 1,040   $    --
Molybdenum
Mined production (000s lb) (2)          7,481     6,525    15,368    14,215
Cash cost ($/lb produced)            $   6.25   $  7.46   $  5.99   $  6.62
Molybdenum sold (000s lb)
TC mine and Endako mine product         7,439     8,259    16,030    14,833
Purchased and processed product         2,250     1,458     3,504     3,698
                                        9,689     9,717    19,534    18,531
Average realized sales
price ($/lb)                         $  13.03   $ 11.60   $ 11.73   $ 11.73

Notes:
(1) Payable production for copper and gold reflects estimated
metallurgical losses resulting from handling of the concentrate and
payable metal deductions, subject to metal content, levied by
smelters. The current payable percentage applied is approximately
95 per cent for copper and 96.5 per cent for gold, which may be revised
on a prospective basis after sufficient history of payable amounts are
determined.
(2) Mined production pounds reflected are molybdenum oxide and HPM from
the company's share of production from the mines (excludes molybdenum
processed from purchased product).

Updated guidance

The attached table presents the company's updated guidance from the guidance provided in the company's Form 10-K for the year ended Dec. 31, 2013, for the full year 2014.

                                              Year ended        Year ended
                                               Dec. 31, 2014     Dec. 31, 2014
                                                    (Updated)        (Previous)

Mt. Milligan copper and gold(1)
Concentrate production 
(000s dry tonnes)(2)                              125 to 140        125 to 140
Copper payable production (000s lb)         65,000 to 75,000  65,000 to 75,000
Gold payable production (000s oz)(2)              185 to 195        165 to 175
Unit cash cost -- byproduct ($/payable lb
copper produced)(2)(3)                        $1.00 to $1.50    $1.55 to $1.70
Molybdenum
Production (000s lb)(4)
TC mine(2)                                  15,000 to 17,000  14,000 to 16,000
Endako mine (75% share)(2)                   9,000 to 10,000  10,000 to 12,000
Total molybdenum production (000s lb)(2)    24,000 to 27,000  24,000 to 28,000
Cash cost ($/lb produced)
TC mine(2)                                    $4.50 to $5.25    $4.75 to $5.75
Endako mine(2)                              $10.50 to $12.00   $9.00 to $10.50
Total molybdenum cash cost
($/lb produced)(2)                            $6.75 to $7.75    $6.50 to $7.75

Notes:
(1) For the Mt. Milligan guidance, despite being at 80 per cent of designed mill
throughput for the month of June, ramp-up activities will continue
through 2014, with the guidance assuming that the company will
consistently achieve approximately 80 per cent of design capacity by year-end
2014. This guidance also assumes that 100 per cent of design capacity mill
throughput, and designed copper and gold recoveries are not achieved
until year-end 2015.
(2) The company's updated guidance for Mt. Milligan reflects the following
expectations: a) higher gold production, primarily related to the
mining sequence in the second half of 2014; b) lower copper unit costs
on a byproduct basis, primarily due to the updated estimated foreign
exchange rate together with lower operating costs and higher gold
credits; and c) higher capital expenditures for the permanent
operations residence primarily due to the revised completion date,
higher operations capital for the construction of an explosives
facility and higher capital costs for the construction of the tailings
storage facility. The company's updated guidance for its molybdenum
business reflects the following expectations: a) higher production and
lower unit costs per pound produced for the TC mine primarily related to
additional production from the bottom of the pit for phase 7; b) lower
production and higher unit costs per pound produced for the company's
75-per-cent interest in the Endako mine, primarily due to the mine performance
for the first half of 2014; and c) lower than planned capital
expenditures for the molybdenum business.
(3) Copper byproduct unit cash cost is calculated using copper payable
production and deducts a gold byproduct credit, which is determined
based on expected revenue from payable gold production assuming a gold
price of approximately $1,290 per ounce, which is then adjusted to
take into account the contractual price of $435 per ounce under the
gold stream arrangement.
(4) Molybdenum production pounds represented are molybdenum oxide and
high-performance molybdenum disulphide (HPM) from the company's share of
production from the mines, but exclude molybdenum processed from
purchased product.

Additional information on the company's financial position is available in Thompson Creek's quarterly report on Form 10-Q for the period ended June 30, 2014, which was filed today on EDGAR and SEDAR, and posted on the company's website.

Conference call and webcast

Thompson Creek will hold a conference call for analysts and investors to discuss its second quarter 2014 financial results on Wednesday, Aug. 6, 2014, at 11 a.m. Eastern Time.

To participate in the call, please dial 1-888-801-6507. A live audio webcast of the conference call will be available on the company website.

An archived recording of the conference call will be available at 1-888-203-1112 (replay code 1080267) from 1 p.m. ET on Aug. 6, 2014, to 11:59 p.m. ET on Aug. 20, 2014. An archived recording of the webcast will also be available on Thompson Creek's website.

We seek Safe Harbor.