Thompson Creek Announces Executive Promotions

NYSE: TC
TSX: TCM, TCM.WT
TSX-V: TRX.WT

DENVER, Aug. 12, 2011 /PRNewswire/ - Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek"), a growing, diversified North American mining company, today announced that effective August 5, 2011, Pamela Saxton, Vice President, Finance and Chief Financial Officer since 2008, has been promoted to Executive Vice President and Chief Financial Officer, and Mark Wilson, Vice President, Sales and Marketing since 2006, has been promoted to Executive Vice President and Chief Commercial Officer. 

"Ms. Saxton and Mr. Wilson have been invaluable contributors to the organization throughout their careers at Thompson Creek and I greatly value their experience and insight," said Kevin Loughrey, Chairman and Chief Executive Officer.  "These changes in their titles are intended to better reflect their respective levels of responsibilities within the organization," added Mr. Loughrey.

Ms. Saxton will continue to oversee the Company's financial activities, corporate transactions, strategic sourcing and IT activities.  Mr. Wilson will continue to oversee the sales and marketing activities of the Company, as well as oversee the operations at Thompson Creek's Langeloth Metallurgical Facility.

Ms. Saxton has over 30 years of domestic and international finance and accounting experience within and outside the mining industry. Ms. Saxton holds a Bachelor of Science in Accounting from the University of Colorado in Boulder. She is a member and past Chair of the Board for the Colorado Association of Commerce and Industry.

Mr. Wilson has more than 25 years of experience in the mining industry, with extensive experience in marketing, business development and finance.  Mr. Wilson holds a Bachelor of Science in Geology and Geophysics from Yale University and a M.A. in Law and Diplomacy from the Fletcher School of Law and Diplomacy.

About Thompson Creek Metals Company Inc.

Thompson Creek Metals Company Inc. is a growing, diversified North American mining company.   The Company produces molybdenum at its 100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical Facility in Pennsylvania and its 75%-owned Endako Mine in northern British Columbia.  The Company is also in the process of constructing the Mt. Milligan copper-gold mine in central British Columbia, which is expected to commence production in 2013.  The Company's development projects include the Berg copper-molybdenum-silver property and the Davidson molybdenum property, both located in central British Columbia.  Thompson Creek has approximately 972 employees.  Its principal executive office is in Denver, Colorado and its Canadian administrative office is in Vancouver, British Columbia.  More information is available at www.thompsoncreekmetals.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release (including information incorporated by reference) are ''forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and applicable Canadian securities legislation.  These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions.  Our forward looking statements include, without limitation: estimates of future capital expenditures and other cash needs for operations, including with respect to the Endako mill expansion and the development of Mt. Milligan, and expectations as to the funding thereof; statements as  to the projected development of the Endako mill expansion, Mt. Milligan and other projects, including expected production commencement dates; statements regarding future earnings, and the sensitivity of earnings to molybdenum prices; estimates of future production costs and other expenses for specific operations and on a consolidated basis; estimates of future mineral production and sales for specific operations and on a consolidated basis; estimates of mineral reserves and resources, including estimated mine life and annual production; estimates as to commodity prices; statements with respect to the future financial or operating performance of TCM or its subsidiaries and its projects; statements with respect to the costs and timing of future exploration projects and the development of new deposits including the Berg property and the Davidson property; projected synergies and costs associated with acquisitions and related matters; and statements as to TCM's ability to achieve its expected growth strategy.

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.  However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements.  Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the section entitled ''Risk Factors'' in Thompson Creek's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com.  Although we have attempted to identify those factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that cause results or events to differ from those anticipated, estimated or intended.  Many of these factors are beyond TCM's ability to control or predict.  Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements.  We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. 

SOURCE Thompson Creek Metals Company Inc.