THOMPSON CREEK PROMOTES SCOTT SHELLHAAS TO PRESIDENT
Denver,
CO - May 23, 2011 - Thompson Creek Metals Company Inc. (the �Company� or
�Thompson Creek�) (NYSE: TC; TSX: TCM, TCM,WT; TSX-V: TRX,WT), a growing, diversified North
American mining company, today announced that Scott Shellhaas,
the Company�s Chief Operating Officer since 2009, has been promoted to
President, effective May 23, 2011. As President and Chief Operating
Officer, Mr. Shellhaas will continue to oversee
the Company�s mining operations and projects, plus assume responsibility
for Thompson Creek�s Corporate Responsibility, Exploration, New Business
Development and Human Resources/Administration departments.
�I am extremely pleased with the promotion of Scott Shellhaas
to the office of President of Thompson Creek,� said Kevin Loughrey, Chairman and CEO of the Company. �For
the past two years, Scott�s leadership and integrity have been
instrumental in the success of our existing operations. We expect that
his proven track record and experience within the mining industry will
ensure the successful construction and development of the Mt. Milligan
copper-gold mine and other development projects,� added Mr. Loughrey.
Mr. Shellhaas has more than 29 years of
international executive management and operating experience within the
mining industry.
Mr. Shellhaas' mining career started with
Cyprus Amax Minerals Company where he was a managing attorney from 1982
to 1989. He subsequently served in operating positions, including:
President of Cyprus Australia Gold Company (1989-1991), a gold and copper
producer in Australia; President of Cyprus Northshore
Mining Company (1991-1994), an iron ore producer in Minnesota; President
of Cyprus Foote Mineral Company (1993-1996), an international lithium
producer operating in Chile and the United States; and President and
Chief Operating Officer of Amax Gold Inc. (1996-1998), a publicly traded
global gold producer. From 1998 to 2000, he was President of Cyprus
Australia Coal Company, a coal producer in Australia, and Chairman and
Chief Executive Officer of Oakbridge
Proprietary Ltd., an associated coal producing and marketing joint
venture and consortium.
From 2000 to
2007, Mr. Shellhaas was the CEO designate for
venture capital development projects involving coal, iron and steel
producers within the United States. He then was Vice President of
Richmond, Virginia-based Imagin Natural
Resources, a start-up natural resource company focusing on the
acquisition and operation of coal assets. Between Imagin
in 2008 and joining Thompson Creek in 2009, he provided executive
management consulting services to natural resource and energy companies.
Mr. Shellhaas has a Bachelor of Arts in Economics from
the University of North Carolina-Chapel Hill and a Juris
Doctor with Honors from the University of Wyoming School of Law.
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 northern 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 967 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 Regarding Forward-Looking Statements
This news release contains
��forward-looking information�� within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements
include statements with respect to: future financial or operating
performance of Thompson Creek or its subsidiaries and its projects;
future inventory, production, cash costs, capital expenditures and
exploration expenditures; funding sources for the Endako
Mine expansion and Mt. Milligan development costs; 2011 operating
goals; and 2011 molybdenum prices.
Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, risks related to
general business, economic, competitive, political and social
uncertainties including global economic conditions; volatility in
molybdenum prices; labor cost and materials cost fluctuations; foreign
currency fluctuations; energy price fluctuations; project delays; title
disputes or claims; limitations of insurance coverage; changes in governmental
regulation of mining operations; risks related to the volatility of
Thompson Creek�s share price; changes in environmental regulation; the
actual results of current exploration activities; actual results of
reclamation activities; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; possible variations
of ore grade or recovery rates; and failure of plant, equipment or
processes to operate as anticipated. Additional factors that
could cause Thompson Creek�s results to differ from those described in
the forward-looking information can be found in the section entitled
��Risk Factors�� in Thompson Creek�s Annual Report on Form 10-K, in
Section 1A of Thompson Creek's Quarterly Report on Form 10-Q and
subsequent documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this news
release and Thompson Creek disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by law.
There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements.
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