Mt. Milligan Achieved Commercial Production

DENVER, CO - Jacques Perron, Chief Executive Officer of Thompson Creek Metals Company, said, "During the first quarter of 2014, we continued to focus on execution and are pleased to report good progress at Mt. Milligan in British Colombia. We reached a significant milestone in February of this year when Mt. Milligan achieved commercial production. Our new Mt. Milligan leadership team focused on the optimization of the mine and mill, which resulted in improvements in concentrate production and cash costs. Payable copper production increased 52.1% from the previous quarter and by-product cash costs decreased 68.8%. Payable gold production increased 118.3% from the previous quarter, and co-product cash costs decreased 56.3%. We expect Mt. Milligan to ramp up to 75 to 80% of the designed mill throughput of 60,000 tones per day by the end of 2014 and continue to ramp up to 100% during 2015."

Given the ramp up of Mt. Milligan in 2014 and 2015, management expects Mt. Milligan to be cash flow positive in the second half of this year and the Company in the fourth quarter of this year, depending upon the timing of shipments and provisional payments from the Company's offtakers. Management expects to maintain a minimum liquidity level of $75 - $100 million. As a result of the Company's performance in the first quarter and the increase in the molybdenum price, management is confident this will be achievable.

The Company continued to experience improved molybdenum production and costs for the first quarter of 2014, with total production of 7.9 million pounds and average cash costs of $5.75, compared to 7.7 million pounds and average cash costs of $5.91 for the first quarter of 2013.  The Company's average realized sales price for the first quarter of 2014 was $10.45 per pound of molybdenum, compared to $11.87 for the first quarter of 2013.