Thompson Creek Announces Increased Reserves and Extended Mine Life for the Endako Mine

DENVER, CO, Sept. 12, 2011 /CNW/ --
NYSE: TC


TSX: TCM, TCM.WT


TSX-V: TRX.WT

DENVER, CO, Sept. 12, 2011 /CNW/ - Thompson Creek Metals Company Inc.
(the 'Company' or 'Thompson Creek'), a growing, diversified North
American mining company, today announced a 9% increase in mineral
reserves from 286.2 million to 312.2 million pounds of contained
molybdenum at its Endako molybdenum mine located near Fraser Lake,
British Columbia, extending its mine life by nearly 2 years through
2028.

Kevin Loughrey, Chairman and Chief Executive Officer of Thompson Creek,
commented, 'The updated reserves estimate illustrates the significant
value of the Endako mine.  The current report has revised our reserves
estimates as a result of improved engineering, refined geological
modeling and new drilling data.  We believe the resource base at the
Endako mine will continue to expand with our 2011 drilling program and
future  exploration.'

Thompson Creek plans to conduct 70,955 feet of drilling at Endako in
2011, with the results of such drilling expected to be reported in the
second quarter of 2012.  Thompson Creek is currently constructing a new
mill facility at Endako which is expected to increase throughput from
31,000 to 55,000 tons per day, increase recovery from 75% to 79%, and
increase total annual production from approximately 11 to 16 million
pounds per year (with the Company's 75% share increasing from 6-8 to
11-12 million pounds per year).  The new mill facility is on schedule
for completion in the first quarter of 2012.

The new mineral reserves and resources estimates were prepared by the
Endako mine staff and verified by John M. Marek, P.E. of Independent
Mining Consultants ('IMC'), a qualified person as defined in National
Instrument 43-101.  The new reserves and resources estimates update
those previously released on February 24, 2011.  The new mineral
reserves and resources estimates are based on a geologic block model of
the Endako deposits assembled by IMC in June 2011 using available
diamond drilling data through October 2010 and selected blast hole data
through May 31, 2011.  The reserves evaluation used a cut-off grade of
0.018% Mo and were estimated using a long-term molybdenum price of
$13.50 CDN/lb or $12.00 US/lb using an exchange rate of
CDN$1.125/US$1.00.  The mineral resources evaluation used a cut-off
grade of 0.015% Mo pit shells at a molybdenum price of $16.50 CDN/lb or
$15.00 US/lb using an exchange rate of CDN$1.10/US$1.00.

Endako's proven and probable mineral reserves are estimated to be 340.3
million tons at an average grade of 0.046% Mo containing 312.2 million
pounds of molybdenum.  These mineral reserves consist of proven
reserves of 140.9 million tons at an average grade of 0.047% Mo
containing 133 million pounds of molybdenum and probable reserves of
199.3 million tons at an average grade of 0.045% Mo containing 179.2
million pounds of molybdenum. The previous estimates showed proven and
probable mineral reserves of 311.0 million tons at an average grade of
0.046% Mo containing 286.2 million pounds of molybdenum.  The updated
estimate adds roughly 26 million pounds of contained molybdenum to the
Company's present reserves.

Endako's measured and indicated mineral resources (excluding proven and
probable mineral reserves) are estimated to be 63.2 million tons at an
average grade of 0.030% Mo containing 38.0 million pounds molybdenum. 
This includes measured mineral resources of 19 million tons at an
average grade of 0.029% Mo containing 10.9 million pounds of molybdenum
and indicated mineral resources of 44.3 million tons at an average
grade of 0.031% Mo containing 27.1 million pounds of molybdenum.  The
previous estimates showed measured and indicated mineral resources of
88.4 million tons at 0.034% Mo containing 60.9 million pounds of
molybdenum.

The Endako mine also has inferred mineral resources of 54.4 million tons
at an average grade of 0.035% Mo containing 37.8 million pounds of
molybdenum.  The previous estimates showed inferred mineral resources
of 61.5 million tons at an average grade of 0.037% Mo containing 45.0
million pounds of molybdenum.

In connection with the new reserve estimates, the mine planning team at
Endako developed a new mine plan based on the June 2011 block model. 
The resulting plan, which takes into account the increase in production
rate attributable to the operation of the new mill facility, extends
the life of the mine by 20 months through 2028.  Mr. Marek reviewed the
Company's new 18-year mine plan and concluded that 'the production
targets, mine operating cost forecasts, and the capital cost forecasts
are reasonable.'

Mineral reserves and mineral resources are stated herein in short tons
(English) units. Details of the new estimates and mine plan are
available in a National Instrument 43-101 technical report filed on
SEDAR (www.sedar.com).

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 970 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 to U.S. Investors

This news release uses the terms 'measured,' 'indicated' and 'inferred'
resources.  U.S. investors are advised that, while such terms are
recognized and required by Canadian regulations, the U.S. Securities
and Exchange Commission does not recognize them.  U.S. investors are
cautioned not to assume that all or any part of measured, indicated or
inferred mineral resources will ever be converted into mineral
reserves.  U.S. investors should refer to Thompson Creek's current
Annual Report on Form 10-K, which is available on EDGAR at www.sec.gov, and subsequent continuous disclosure documents available at www.sec.gov for further information on mineral reserves and mineral resources,
which is subject to the qualifications and notes set forth therein.

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 mineral reserves and resources, including
estimated mine life and annual production; uncertainties related to
feasibility studies that provide estimates of expected or anticipated
costs, expenditures and economic returns from a mining project;
statements as  to the projected development of the Endako mill
expansion including statements regarding the associated costs and
expected production commencement dates; estimates as to commodity
prices; estimates of future production costs and other expenses for
operations; estimates of future mineral production and sales;
statements with respect to the future financial or operating
performance of Thompson Creek or its subsidiaries and its projects;
statements with respect to the costs and timing of future exploration
projects and the development of new deposits; and statements as to
Thompson Creek'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.

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