NYSE: TC
TSX: TCM, TCM.WT
Frankfurt: A6R

TORONTO, June 23 /CNW/ - Thompson Creek Metals Company Inc. ("Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced that it has completed a voluntary stock option cancellation program offered to all holders of stock options with an exercise price of C$16.19 per share and above.

Under the terms of the program, options to acquire an aggregate of 2,414,500 million common shares were voluntarily surrendered for cancellation by 55 holders effective June 22, 2009.

The Company's existing stock option plan currently allows for a maximum of approximately 8.6 million outstanding options. Following this cancellation, there are a total of 6,055,166 options outstanding with exercise prices ranging from C$0.60 to C$23.93.

The cancellation of options provides the Company with the flexibility to issue stock options in the future. The Company regards the flexibility to issue new options as an important element in attracting and retaining highly qualified employees and directors.

A non-cash compensation charge of approximately US$2.8 million will be recorded in the quarter ending June 30, 2009, representing the remaining unamortized, stock-based compensation cost for the cancelled options as of June 22, 2009. As a result, the current quarterly charge related to these options will be eliminated, representing approximately US$0.9 million for the quarter ending September 30, 2009, and US$0.8 million, $0.7 million, $0.3 million, and $0.1 million for the subsequent four quarters, respectively.

About Thompson Creek Metals Company Inc.

Thompson Creek Metals Company Inc. is one of the largest publicly traded, pure molybdenum producers in the world. The Company owns the Thompson Creek open-pit molybdenum mine and mill in Idaho, a metallurgical roasting facility in Langeloth, Pennsylvania and a 75% share of the Endako open-pit mine, mill and roasting facility in northern British Columbia. Thompson Creek has two high-grade underground molybdenum deposits, the Davidson Deposit near Smithers, B.C., and the Mount Emmons Deposit near Crested Butte, Colorado. The Company is continuing to pursue permitting of the Davidson Project and is evaluating the Mount Emmons Deposit. The Company has approximately 750 employees.