Thompson Creek Metals Company Announces Third Quarter 2014 Operating Results - Seite 2

Mt. Milligan Mine

The Company continued to advance the ramp-up of the Mt. Milligan Mine with increases in both gold and copper production. For the third quarter, the Company produced 60.4 thousand ounces of payable gold, compared to 37.0 thousand ounces of payable gold in the second quarter, an increase of 63%, primarily due to higher gold grades and recoveries. Payable copper production for the third quarter was 16.3 million pounds, compared to 16.0 million pounds in the second quarter. As expected, daily mill throughput continued to fluctuate throughout the quarter and averaged 40,445 tonnes per day, compared to 38,543 tonnes per day in the previous quarter. In the third quarter, throughput was impacted by downtime to make various adjustments to the grinding and flotation circuits, as well as fixing some minor mechanical and electrical issues. During the third quarter of 2014, the Company made three shipments of copper and gold concentrate under its sales agreements and received provisional payments for all three of such shipments. The timing of the gold and copper concentrate shipments and related provisional payments from Mt. Milligan are based on the structure of the Company's sales agreements.

"We continue to experience improvements in the operation of the mill at Mt. Milligan," said Jacques Perron, Chief Executive Officer of Thompson Creek. "The average throughput for the quarter was impacted by typical ramp-up issues and adjustments to the circuits that we believe will provide improved performance in the fourth quarter. We are confident that we will consistently achieve 80% of mill throughput design capacity by year-end. We continue to evaluate the potential need for a secondary crusher at the Mt. Milligan Mine and expect to announce a definitive plan by year-end," added Mr. Perron.

Molybdenum Operations

In August, the Company completed mining Phase 7 ore at the Thompson Creek Mine and expects to continue the processing of stockpiled ore into December of this year. At the Endako Mine, operations continued to improve as a result of various mine and mill adjustments implemented in the first half of 2014.

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 TC 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.