Mr. Jacques Perron reports

THOMPSON CREEK REPORTS SECOND QUARTER 2015 FINANCIAL RESULTS

Thompson Creek Metals Company Inc. has released its financial results for the three and six months ended June 30, 2015, prepared in accordance with U.S. generally accepted accounting principles (GAAP). All dollar amounts are in U.S. dollars unless otherwise indicated.

"During the second quarter, we made significant progress at Mount Milligan mine compared to the first quarter of this year, including improved throughput, recoveries and unit cash costs," said Jacques Perron, president, chief executive officer and director of Thompson Creek. "We are particularly proud of our improving safety performance, which demonstrates the commitment and quality of all of the members of our team. With ongoing volatility in the markets, we will continue to prudently manage our balance sheet and actively pursue company-wide cost reductions."

Mr. Perron continued: "We achieved our highest quarterly average daily mill throughput to date of 44,940 tonnes in the second quarter. As a result of several maintenance shutdowns related to the pebble crushers, primary crusher and ball mills, daily throughput in July averaged 43,302 tonnes, but following completion of the necessary maintenance work, daily mill throughput improved in the latter part of the month and averaged 52,290 between July 26 and Aug. 4. We expect to make additional operational improvements in the second half of this year, including the installation of a second SAG [semi-autogenous grinding] discharge screen deck, which will be instrumental in achieving higher throughput. We believe these improvements, together with continued use of secondary crushed material, will help us to complete the ramp-up of Mount Milligan by year-end."

During the quarter, the company repurchased and retired $34-million of its senior secured notes. Since December, 2014, the company has repurchased and retired approximately $68-million of its outstanding notes, with future interest savings from these repurchases to maturity of approximately $22-million. Mr. Perron said: "These bond repurchases are consistent with our strategy to reduce our debt and strengthen our balance sheet. Since the completion of Mount Milligan mine through June 30, 2015, we have repaid and retired approximately $121-million of our debt or 12 per cent, including the net repayments of our capital lease obligations."

Highlights for the second quarter of 2015

• Operating results for the second quarter of 2015 compared with the first quarter of 2015 reflect positive trends, as management targets completion of the Mount Milligan ramp-up by year end. With recent improvements in the mine and mill, together with the utilization of the temporary secondary crushing circuit, during the second quarter of 2015, the company achieved its highest quarterly average daily mill throughput to date of 44,940 tonnes, a 13.6-per-cent improvement over the first quarter of 2015. Recoveries for the second quarter of 2015 steadily increased to 85.5 per cent for copper and 72.7 per cent for gold. With the higher throughput and improved recoveries, payable production for both copper and gold increased by approximately 30 per cent from the first quarter of 2015.
• Financial results for the second quarter of 2015 compared with the first quarter of 2015 also improved; operating income more than doubled and cash generated by operating activities more than quadrupled. During the second quarter of 2015, the company also decreased its total debt balance by $41.2-million.
• Total cash and cash equivalents at June 30, 2015, were $211.1-million, compared with $265.6-million at Dec. 31, 2014. Total debt, including capital lease obligations, at June 30, 2015, was $897.6-million, compared with $944.7-million at Dec. 31, 2014. During the second quarter of 2015, the company repurchased and retired $34.2-million of the 9.75-per-cent senior secured notes due in 2017.
• Cash generated by operating activities was $23.9-million in the second quarter of 2015, compared with cash generated by operating activities of $50.7-million in the second quarter of 2014.
• Consolidated revenues for the second quarter of 2015 were $134.1-million, compared with $248.4-million in the second quarter of 2014. Copper and gold sales contributed $105.6-million in revenue in the second quarter of 2015, compared with $118.9-million in the second quarter of 2014. Molybdenum sales for the second quarter of 2015 were $20.9-million, compared with $126.3-million in the second quarter of 2014. During each of the second quarters of 2015 and 2014, the company completed three shipments of copper and gold concentrate and recorded four sales.
• Payable production at the Mount Milligan mine for the second quarter of 2015 was 20.2 million pounds of copper and 59,917 ounces of gold, compared with payable production of 16 million pounds of copper and 37,030 ounces of gold for the second quarter of 2014.
• Sales volumes and average realized sales prices for copper and gold for the second quarter of 2015 were 21.2 million pounds of copper at an average realized price of $2.63 per pound and 57,920 ounces of gold at an average realized price of $975 per ounce, as compared with 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 for the second quarter of 2014. Molybdenum sales volumes in the second quarter of 2015, which consisted of the sale of molybdenum inventory produced at the company's mines in 2014 and molybdenum sourced from third parties, were 2.3 million pounds at an average realized price of $9.23 per pound, compared with 9.7 million pounds at an average realized price of $13.03 per pound for the second quarter of 2014.
• Consolidated operating income for the second quarter of 2015 was $12.1-million, compared with $57.3-million for the second quarter of 2014. Consolidated operating income for the second quarters of 2015 and 2014 was affected by non-cash lower-of-cost-or-market molybdenum product inventory writedowns of $1.9-million and $1.2-million, respectively. Consolidated operating income for the second quarter of 2015 was also affected by $12.1-million of costs related to idle molybdenum mining operations, including the company's share of severance costs at the Endako mine of $6.7-million.
• Net income for the second quarter of 2015 was $300,000, or nil per diluted share, compared with net income of $61.6-million, or 28 cents per diluted share, for the second quarter of 2014. The net income for the second quarter of 2015 and 2014 included non-cash foreign exchange gains of $16.9-million and $42.3-million, respectively, primarily on intercompany notes.
• Non-GAAP adjusted net loss for the second quarter of 2015 was $13.5-million, or six cents per diluted share, compared with non-GAAP adjusted net income for the same period of 2014 of $22-million, or 10 cents per share. Non-GAAP adjusted net income (loss) excludes foreign exchange gains and losses, net of related income tax effects.
• Non-GAAP unit cash cost per pound of copper produced for the second quarter of 2015 was, on a byproduct basis, 48 cents per pound and was, on a co-product basis, $1.55 per pound of copper and $434 per ounce of gold. Non-GAAP unit cash cost in the second quarter of 2014 was, on a byproduct basis, 33 cents per pound and was, on a co-product basis, $1.97 per pound of copper and $538 per ounce of gold.
• Capital expenditures for the second quarter of 2015 were $9.7-million, composed of $9.1-million for the Mount Milligan mine and $600,000 for the Langeloth facility, the Endako mine and corporate combined, compared with $26.7-million for the second quarter of 2014.

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

                                                          Three months ended                  Six months ended
                                                        June 30,     June 30,     June 30,             June 30,
                                                           2015         2014         2015                 2014
Financial information
Revenues
Copper sales                                          $    49.3     $   64.8    $    81.5              $  94.6
Gold sales                                                 56.3         54.1         92.3                 78.5
Molybdenum sales                                           20.9        126.3         63.7                229.2
Tolling, calcining and other                                7.6          3.2         19.6                  7.1
Total revenues                                            134.1        248.4        257.1                409.4
Costs and expenses
Cost of sales
Operating expenses                                         75.3        148.2        158.3                261.8
Depreciation, depletion and amortization                   26.8         33.0         46.8                 55.6
Total cost of sales                                       102.1        181.2        205.1                317.4
Total costs and expenses                                  122.0        191.1        239.8                339.0
Operating income (loss)                                    12.1         57.3         17.3                 70.4
Other (income) expense                                      6.7        (18.8)       115.8                 48.4
Income (loss) before income and mining taxes                5.4         76.1        (98.5)                22.0
Income and mining tax (benefit) expense                     5.1         14.5        (11.6)                (0.5)
Net income (loss)                                     $     0.3     $   61.6    $   (86.9)             $  22.5
Net income (loss) per share
Basic                                                 $    0.00     $   0.35    $   (0.40)             $  0.13
Diluted                                               $    0.00     $   0.28    $   (0.40)             $  0.10
Cash generated by (used in) operating activities      $    23.9     $   50.7    $    18.6              $  66.9
Adjusted non-GAAP measures(1)
Adjusted net income (loss)(1)                         $   (13.5)    $   22.0    $   (27.7)             $  26.3
Adjusted net income (loss) per share -- basic(1)      $   (0.06)    $   0.13    $   (0.13)             $  0.15
Adjusted net income (loss) per share -- diluted(1)    $   (0.06)    $   0.10    $   (0.13)             $  0.12


                                           OPERATIONAL STATISTICS 

                                                          Three months ended                  Six months ended
                                                        June 30,     June 30,     June 30,             June 30,
                                                           2015         2014         2015                 2014
Copper
Payable production (000s lb)(2)                          20,159       16,035       35,564               30,278
Cash cost ($/payable lb produced) -- byproduct(1)     $    0.48     $   0.33    $    0.75              $  1.34
Cash cost ($/payable lb produced) -- co-product(1)         1.55     $   1.97    $    1.59              $  2.11
Copper sold (000s lb)                                    21,195       21,939       35,986               32,732
Average realized sales price ($/lb)(1)                $    2.63     $   3.20    $    2.56              $  3.14
Gold
Payable production (oz)                                  59,917       37,030      106,036               76,273
Cash cost ($/payable oz produced) -- co-product(1)    $     434     $    538    $     462              $   573
Gold sold (oz)                                           57,920       51,983       94,670               75,857
Average realized sales price ($/oz)(1)                $     975     $  1,047    $     979              $ 1,040
Molybdenum
Mined production (000s lb)(3)                                 -        7,481            -               15,368
Cash cost ($/lb produced)(1)                          $       -     $   6.25    $       -              $  5.99
Molybdenum sold (000s lb)
TC mine and Endako mine product                             576        7,439        3,128               16,030
Purchased and processed product                           1,679        2,250        3,412                3,504
                                                          2,255        9,689        6,540               19,534
Average realized sales price ($/lb)(1)                $    9.23     $  13.03    $    9.73              $ 11.73

(1) Non-GAAP financial measures.
(2) 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 is determined.
(3) Mined production pounds reflected are molybdenum oxide and HPM (high-performance molybdenum disulphide) 
    from the company's share of production from the mines (excludes molybdenum processed from purchased 
    product).

Current guidance

The company updated its 2015 guidance as of the date of this report to reflect: (i) certain changes to its molybdenum business guidance as a result of expected decreases in cash flow from Langeloth, expected increases in the proportion of sales of upgraded products from its molybdenum mines, the placement of Endako mine on care and maintenance, effective July 1, 2015 (in connection with which the company incurred its share of one-time severance costs), and the decision to cease stripping at the Thompson Creek mine, effective Aug. 6, 2015; and (ii) the addition of capital expenditures for 2015 relating to a settlement of vendor claims in connection with the construction of Mount Milligan. There are no revisions to the production and cash cost guidance for the Mount Milligan mine as of the date of this report.

The accompanying table presents: (i) updated guidance for fiscal year 2015 as of the date of this report; and (ii) for comparison purposes, the guidance previously provided in the company's Form 10-Q for the three months ended March 31, 2015.

                                                   Year ended Dec. 31, 2015     Year ended Dec. 31, 2015
                                                       (estimated) (updated)       (estimated) (previous)
Mount Milligan mine copper and gold
Concentrate production (000s dry tonnes)                         140 to 160                   140 to 160
Copper payable production (000s lb)                        70,000 to 90,000             70,000 to 90,000
Gold payable production (000s oz)                                200 to 220                   200 to 220
Unit cash cost -- byproduct
($/payable lb copper produced)(1)(2)                         $0.70 to $0.90               $0.70 to $0.90
Molybdenum business -- cash inflow (outflow)
($ in millions)(2)(3)
Ongoing molybdenum operations -- Langeloth                        $6 to $10                   $10 to $15
Suspended molybdenum operations
TC mine
Care and maintenance                                             ($7 to $10)                   ($6 to $8)
Phase 8 stripping                                                 ($4 to $5)                  ($8 to $10)
Sale of inventory                                                $32 to $34                   $25 to $28
Endako mine (75% share)
Temporary suspension, care and
maintenance, and severance costs                                ($17 to $19)                   ($5 to $8)
Sale of inventory                                                $10 to $11                    $9 to $10
Total cash flow from molybdenum operations                       $20 to $21                   $25 to $27
Capital expenditures ($ in millions)(2)(4)
Mount Milligan operations                              $22 plus or minus 10%        $22 plus or minus 10%
Mount Milligan tailings dam                            $24 plus or minus 10%        $24 plus or minus 10%
Mount Milligan secondary crusher
engineering and site preparation                       $15 plus or minus 10%        $15 plus or minus 10%
Mount Milligan vendor claims settlement(5)                              $13                          nil
Langeloth and other                                     $7 plus or minus 10%         $7 plus or minus 10%
Total capital expenditures                             $81 plus or minus 10%        $68 plus or minus 10%

(1) 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 $801 per ounce for the first half of 2015 and approximately $730 per ounce for the 
    second half of 2015, which takes into account the contractual price of $435 per ounce under the gold 
    stream arrangement.
(2) Estimates for cash costs, molybdenum cash inflow (outflow) and cash capital expenditures assume an
    average foreign exchange rate of $1 equals $1.24 (Canadian) for the first half of 2015 and $1 equals
    $1.25 (Canadian) for the second half of 2015.
(3) Cash inflow (outflow) excludes capital expenditures.
(4) Includes 2015 cash capital expenditures, but excludes cash capital expenditures related to 2014 
    accruals paid in 2015.
(5) In July, 2015, Terrane Metals Corp., a wholly owned subsidiary of the company, settled outstanding 
    claims from two contractors that provided construction and installation services for the construction 
    of Mount Milligan. The settlement amount, which represents a one-time payment, will be made in the 
    third quarter of 2015.

Additional information on the company's financial position is available in its quarterly report in Form 10-Q for the period ended June 30, 2015, which has been filed 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 2015 financial results on Friday, Aug. 7, 2015, at 8 a.m. ET.

To participate in the call, please dial 1-647-427-7450 or 1-888-231-8191. A live audio webcast of the conference call will be available on the company's website and elsewhere on-line.

An archived recording of the second quarter 2015 conference call/webcast will be available through Aug. 21, 2015, by dialling 1-416-849-0833 or 1-855-859-2056 and entering replay code 81714952.

We seek Safe Harbor.