Thompson Creek Metals Company Announces Second Ocean Shipment of Concentrate From Mt. Milligan Mine

DENVER, CO--(Marketwired - Jan 29, 2014) - Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM) ("Thompson Creek" or the "Company") announced today that it has loaded its second ocean shipment of concentrate from its new Mt. Milligan Mine. Based on preliminary weights and assays upon ship loading, this shipment consisted of 10,066 dry metric tonnes of concentrate and contained approximately 5.5 million pounds of payable copper, 10,475 troy ounces of payable gold, and 19,223 troy ounces of payable silver. Average grades, based on preliminary assays, were 26% copper, 33 grams per tonne of gold and 66 grams per tonne of silver. The concentrate was loaded in Vancouver on January 23, 2014. The Company expects to receive a provisional payment for 90% of the value of the concentrate in February.

Jacques Perron, Chief Executive Officer of Thompson Creek, said, "Our second shipment of concentrate was significantly larger than our first and reflects the continued progress of the Mt. Milligan ramp-up. Going forward, we expect each of our shipments to be approximately 10,000 dry metric tonnes of concentrate. We are encouraged with the state of the ramp-up and continue to expect to reach commercial production during the first quarter of 2014, defined as operating the mill at 60% of design capacity for 30 days."

Under US GAAP, the Company's consolidated financial statements reflect Mt. Milligan revenue and costs in operating income beginning in the fourth quarter of 2013 rather than in start-up costs. This will adversely impact operating margins and Mt. Milligan unit cash costs for the fourth quarter of 2013 and the first quarter of 2014. The Company expects to report its 2013 financial results on February 20, 2014, and expects at such time to provide 2014 guidance for production, cash cost and capital spending for all of its operations.

About Thompson Creek Metals Company Inc.

Thompson Creek Metals Company Inc. is a diversified North American mining company. The Company's principal operating properties are its 100%-owned Mt. Milligan Mine, an open-pit copper and gold mine and concentrator in British Columbia, its 100%-owned Thompson Creek Mine, an open-pit molybdenum mine and concentrator in Idaho, its 75% joint venture interest in the Endako Mine, an open-pit molybdenum mine, concentrator and roaster in British Columbia, and the Langeloth Metallurgical Facility in Pennsylvania. The Company's development projects include the Berg property, a copper, molybdenum, and silver exploration property located in British Columbia and the Maze Lake property, a gold exploration project located in the Kivalliq District of Nunavut, Canada. The Company's principal executive office is located in Denver, Colorado. More information is available at www.thompsoncreekmetals.com.