Improvements At Thompson Creek Mine

DENVER, CO - Kevin Loughrey, Thompson Creek Metals Company's Chairman and Chief Executive Officer, said, "We are pleased to report continued improvement of operational performance at both our Thompson Creek and Endako Mines, compared to the fourth quarter of 2012. We achieved lower cash costs per pound produced and increased sales compared to the fourth quarter of 2012. Metallurgical recovery at our Endako Mine in British Columbia, has also continued to improve. The Company's first quarter operational performance was significantly improved from a year earlier, with increased production and sales, and significantly decreased costs. We are also pleased to report that construction of the Mt. Milligan Mine remains on schedule. We currently anticipate commissioning and start-up in August of 2013, and commercial production of copper and gold in the fourth quarter of 2013."

At the Thompson Creek Mine, in Custer County, Idaho, molybdenum production for the first quarter of 2013 was 5.9 million pounds at a cash cost of $4.18 per pound produced, compared to 3.4 million pounds at a cash cost of $10.34 per pound produced for the first quarter of 2012. These improvements were primarily the result of the planned mine pit sequencing and mining in a higher grade section of the mine during the first quarter of 2013 compared to the first quarter of 2012, together with the suspension of waste stripping activity associated with the next phase of production, which began in October of 2012.

At the Endako Mine, the Company's 75% share of molybdenum production for the first quarter of 2013 was 1.8 million pounds at a cash cost of $11.75 per pound produced, compared to 1.0 million pounds at a cash cost of $21.87 per pound produced for the first quarter of 2012. These improvements were primarily the result of the suspension of waste stripping activities and processing of stockpiled ore beginning in the third quarter of 2012, together with lower production in the first quarter of 2012 related to the start-up of the new mill.

Although production from the Endako Mine was significantly improved in the first quarter of 2013 from a year ago, production was negatively impacted due to the winter tailings pond management issues. The Company has completed initial remediation work and instituted tailings management procedures to address these issues to ensure sufficient water supply to the mill for future winter seasons beyond 2013.

Sales of molybdenum for the first quarter of 2013 were 8.8 million pounds, at an average realized sales price of $11.87 per pound, compared to 7.4 million pounds, at an average realized sales price of $14.74 per pound for the first quarter of 2012.

"We remain focused on completing and successfully starting up Mt. Milligan, continuing the operational improvements at Endako, maximizing the value of the Thompson Creek Mine during this time of continued weakness in the molybdenum market, and meeting our previously announced production and cash cost guidance," said Loughrey.