Thompson Creek Issues Clarifications to Its Offer to Exchange Its 6.50% Tangible Equity Units

DENVER, CO--(Marketwired - May 23, 2014) -  Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM) ("Thompson Creek" or the "Company") is issuing this news release to clarify statements in its Offer to Exchange, as amended, dated May 21, 2014 (the "Offer to Exchange"), relating to the Company's offer to exchange its outstanding 6.50% Tangible Equity Units (CUSIP No. 884768 300; ISIN CA8847683007) (the "TMEDS") for shares of its common stock (such offer to exchange, the "Exchange Offer"). 

The Offer to Exchange states that the Exchange Offer is not being made to prior holders of TMEDS who have already exercised their right to separate the TMEDS into their component parts. The Company notes that holders of the component parts of TMEDS who recreate the TMEDS by combining such component parts may participate in the Exchange Offer. Such holders must combine the component parts of the TMEDS in sufficient time to allow for the exchange of the resulting TMEDS prior to the expiration date of the Exchange Offer.

As previously announced on Amendment No. 1 to the Schedule TO filed May 21, 2014, the Company clarified that holders whose units of TMEDS are validly tendered and accepted for exchange pursuant to the Exchange Offer will receive the accrued portion of the full quarterly cash installment payment that has accrued from May 15, 2014 to the settlement date of the Exchange Offer and that is payable in respect of the amortizing note component of each TMEDS unit. This cash installment payment is in addition to the exchange consideration and consists of both payment of accrued interest and a partial repayment of principal in respect of the amortizing notes component of each TMEDS unit. Previously, the Offer to Exchange stated that holders would receive only accrued interest on each amortizing note component.

The terms of the Exchange Offer are set forth in the Offer to Exchange, the accompanying Letter of Transmittal, and pursuant to a Schedule TO filed with the Securities and Exchange Commission (the "SEC") on May 21, 2014, as amended. Persons with questions regarding the Exchange Offer should review the Offer to Exchange and/or contact Global Bondholder Services Corporation, the information agent for the Exchange Offer, at [phone].

This news release is neither an offer to exchange, purchase nor a solicitation of an offer to sell any TMEDS. The Exchange Offer is made only by, and pursuant to the terms set forth in the Offer to Exchange, and the information in this news release is qualified by reference to the Offer to Exchange and the accompanying Letter of Transmittal.