Exhibit 99.1

THOMPSON CREEK ANNOUNCES RECORD PRODUCTION AND SALES VOLUMES FOR FISCAL 2010

·    Revenue up 59% to $594.8 million

·    Net income was $113.7 million

·    Cash flow from operations increased 49% to $157.4 million

Thompson Creek Metals Company Inc. (“Company” or “Thompson Creek”), a growing, diversified North American mining company, today announced financial results for the three months and full year ended December 31, 2010, prepared in accordance with United States generally accepted accounting principles (“US GAAP”). All dollar amounts are in United States (“US”) dollars unless otherwise indicated.

Financial Highlights:

“Thompson Creek’s 2010 financial performance was greatly improved from a year earlier mainly as a result of increased production, sales volumes and molybdenum prices,” said Kevin Loughrey, Chairman and Chief Executive Officer. “The Company produced a record 32.6 million pounds of molybdenum in 2010, and sold a record 29.1 million pounds of molybdenum from its mines for an average realized molybdenum sales price for the year of $15.67, up 39% from $11.28 in 2009.  We anticipate that over the balance of 2011 the price for molybdenum oxide will continue to be volatile, but will gradually increase with the expected improvement in worldwide molybdenum bearing steel production,” said Mr. Loughrey.

Fourth Quarter Financial Results

Revenue for the quarter ended December 31, 2010 was $156.8 million, up 48% from $106.2 million for the same period in 2009.  The increase in revenue was primarily due to an increase in molybdenum sales volumes and a higher average realized sales price for molybdenum in the fourth quarter of $16.05 per pound, up 30% from $12.37 per pound for the same period in 2009.

Net Loss for the quarter ended December 31, 2010 was $45.0 million, or $0.28 per basic and diluted share, compared to net income of $26.0 million, or $0.19 per basic and $0.18 per diluted share for the same period in 2009.  Net loss for the fourth quarter of 2010 included a non-cash unrealized loss on common share purchase warrants of $79.4 million, or $0.50 per basic and $0.47 per diluted share, and net income for the fourth quarter of 2009 included a non-cash unrealized gain on common stock purchase warrants of $5.6 million, or $0.04 per basic and diluted share.

Non-GAAP Adjusted Net Income for the quarter ended December 31, 2010 (excluding the non-cash unrealized loss on the warrants) was $34.4 million, or $0.22 per basic and $0.20 per diluted share.   Non-GAAP adjusted net income for the fourth quarter of 2009 (excluding the non-cash unrealized gain on warrants) was $20.4 million, or $0.15 per basic and $0.14 per diluted share.

The Company’s financial performance continues to be affected by the previously disclosed requirement under US GAAP to account for the Company’s outstanding common stock warrants as a derivative liability, with changes in the fair market value recorded in net income (loss). During the fourth quarter of 2010, the value of the outstanding warrants (and the Company’s reported derivative liability) increased by $79.4 million, resulting in a non-cash loss of the same amount. Excluding the non-cash loss related to the warrants, the Company’s non-GAAP adjusted net income for the fourth quarter of 2010 was $34.4 million, or $0.22 per basic and $0.20 per diluted share.  Additionally, the Terrane warrants that continue to remain outstanding were also accounted for under US GAAP as a derivative liability.  The non-cash unrealized loss on common share purchase warrants of $79.4 million included a $6.7 million loss related to the Terrane warrants.

Molybdenum Production for the quarter ended December 31, 2010 was 9.3 million pounds, up 48% from 6.3 million pounds in the fourth quarter of 2009.  The increase in production was primarily due to a significantly higher grade of ore from the Thompson Creek mine.

Average Cash Cost Per Pound Produced for the quarter ended December 31, 2010 was $5.81 per pound, compared to $6.61 per pound for the same period in 2009.  The decrease in average cash cost per pound was primarily due to higher production resulting from a significantly higher grade of ore from the Thompson Creek mine.

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Cash Flow From Operations for the quarter ended December 31, 2010 was $31.6 million, compared to $38.2 million for the same period in 2009.

Capital Costs incurred for the quarter ended December 31, 2010 were $76.5 million, comprised of $45.2 million of capital costs for the Company’s 75% share of capital costs for the Endako mill expansion project, $15.9 million of capital costs for the mines, the Langeloth facility and Corporate, and $15.4 million of capital costs for Mt. Milligan.  The capital costs for the fourth quarter of 2010 included a change in accrual of $10.1 million; therefore, capital expenditures for the fourth quarter of 2010 were $66.4 million.

Total Cash, Cash Equivalents and Short-Term Investments at December 31, 2010 were $316.0 million, compared to $511.5 million as of December 31, 2009.  Total debt as of December 31, 2010 was $22.0 million, compared to $12.9 million as of December 31, 2009.

Full Year 2010 Financial Results

Revenue for 2010 was $594.8 million, up 59% from $373.4 million for 2009.  The increase in revenue was primarily due to a 15% increase in molybdenum pounds sold and a higher average realized sales price for 2010 of $15.67 per pound, up 39% from $11.28 per pound in 2009.

Net Income for 2010 was $113.7 million or $0.79 per basic and $0.75 per diluted share, compared to a net loss of $56.0 million, or $0.44 per basic and diluted share for 2009.  Net income for 2010 included a non-cash unrealized loss on common share purchase warrants of $49.6 million, or $0.34 per basic and $0.33 per diluted share, and net loss for 2009 included a non-cash unrealized loss on common stock purchase warrants of $93.4 million, or $0.73 per basic and $0.72 per diluted share.

Non-GAAP Adjusted Net Income for 2010 (excluding the non-cash unrealized loss on the warrants) was $163.3 million, or $1.13 per basic and $1.07 per diluted share.   Non-GAAP adjusted net income for 2009 (excluding the non-cash unrealized gain on warrants) was $37.4 million, or $0.29 per basic and diluted share.

Molybdenum Production for 2010 was a record 32.6 million pounds, up 29% from 25.3 million pounds in 2009.  The increase in production was primarily due to a significantly higher grade of ore from the Thompson Creek mine.

Average Cash Cost Per Pound Produced for 2010 was $6.07 per pound, compared to $5.84 per pound in 2009, primarily due to increased operating costs at the Endako mine due to higher mining and milling costs.

Cash Flow From Operations for 2010 was $157.4 million, up 49% from $105.9 million in 2009.

Capital Costs incurred in 2010 were $246.2 million, comprised of $149.9 million of capital costs for the Company’s 75% share of capital costs for the Endako mill expansion project, $80.9 million of capital costs for the mines, the Langeloth facility and Corporate, and $15.4 million of capital costs for Mt. Milligan.  The capital costs for 2010 included accrued amounts of $32.5 million; therefore, capital expenditures for 2010 were $213.7 million.

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Selected Consolidated Financial and Operational Information

(1)   See “Non-GAAP Financial Measures” for the definition and calculation of these non-GAAP measures.

(2)  Mined production pounds reflected are molybdenum oxide and high performance molybdenum disulfide (“HPM”) from the Company’s share of production from the mines; excludes molybdenum processed from purchased product.

(3)  Weighted-average of Thompson Creek mine and Endako mine (75% share) cash costs (mining, milling, mine site administration, roasting and packaging) for molybdenum oxide and HPM produced in the period, including all stripping costs. Cash cost excludes: the effect of purchase price adjustments, the effects of changes in inventory, stock-based compensation, other non-cash employee benefits and depreciation, depletion, amortization and accretion. The cash cost for the Thompson Creek mine, which only produces molybdenum sulfide on site, includes an estimated molybdenum loss, an allocation of roasting and

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packaging costs from the Langeloth facility, and transportation costs. See “Non-GAAP Financial Measures” for additional information.

Updated 2011 Annual Guidance and Outlook

With the exception of the updated guidance provided below, the 2011 and 2012 guidance as provided on November 4, 2010 is reaffirmed.

·                  Capital Expenditures — 2011 estimated capital expenditures are expected to be approximately $591 million (changed from previous guidance of $525 million), comprised of $60 million in capital expenditures for the mines, the Langeloth facility and Corporate (unchanged from previous guidance), $181 million for Thompson Creek’s 75% share of capital expenditures required for the mill expansion project at the Endako mine (changed from previous guidance of $115 million) and $350 million related to the Mt. Milligan project (unchanged from previous guidance and still subject to the completion of a detailed review of the project).  The $66 million increase in capital expenditures at the Endako mine for 2011 includes $27 million of carryover from 2010 and $39 million (75% share) of increased costs to complete the expansion project.

Credit Facility Update

In February, the Company secured an additional $10 million in commitments from two participant banks and increased its previously announced revolving credit facility from $290 million to $300 million.

Non-GAAP Financial Measures

In addition to the consolidated financial statements presented in accordance with US GAAP, the Company uses the following non-GAAP financial measures of its financial performance in this press release:  adjusted net income, adjusted net income per share (basic and diluted), cash cost per pound produced, weighted average cash cost per pound produced, and average realized sales price per pound sold.  These are considered key measures by management in evaluating the Company’s performance.  These measures do not have standard meanings prescribed by US GAAP and may not be comparable to similar measures presented by other companies.  The Company believes these measures provide useful supplemental information to investors in order for them to evaluate the Company’s financial performance using the same measures as management.  The Company believes that the use of these measures affords investors greater transparency in assessing the Company’s financial performance.  Non-GAAP financial measures should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with US GAAP.  The presentation of these measures may be different from non-GAAP financial measures used by other companies.  In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the results of operations as determined in accordance with US GAAP.

Adjusted Net Income, Adjusted Net Income Per Share — Basic and Diluted

Adjusted net income represents the net income prepared in accordance with US GAAP, adjusted for significant non-cash items.  For the fourth quarter and year end December 31, 2010 and 2009, the

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significant non-cash items were the non-cash gains and losses on the fair value adjustment related to the Company’s outstanding common stock purchase warrants.

On January 1, 2009, Thompson Creek was required to adopt the guidance issued by the Emerging Issues Task Force that common stock purchase warrants, with a strike price denominated in a currency other than the entity’s reporting currency, are not considered linked to equity and, therefore, are to be accounted for as derivatives.  The Company has outstanding common stock purchase warrants denominated in Canadian dollars.  Changes to the fair value of the outstanding warrants are recorded to the statements of operations at each quarter end.  Since a cash payment will never be required at the settlement of the Warrants, management does not consider gains or losses on the warrants in its evaluation of the Company’s financial performance.

Adjusted net income per share (basic and diluted) is calculated using adjusted earnings, as defined above, divided by the weighted average basic and weighted average diluted shares outstanding during the period, as determined in accordance with US GAAP.

The following tables reconcile net income presented in accordance with US GAAP to the non-GAAP financial measures of adjusted net income, and adjusted net income per share (basic and diluted) for the three months and years ended December 31, 2010 and 2009:

For the three months ended December 31, 2010 (unaudited—US$ in millions except shares and per share amounts)

For the three months ended December 31, 2009 (unaudited—US$ in millions except shares and per share amounts)

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For the year ended December 31, 2010 (unaudited—US$ in millions except shares and per share amounts)

For the year ended December 31, 2009 (unaudited—US$ in millions except shares and per share amounts)

Cash Cost per Pound Produced and Average Realized Sales Price per Pound Sold

Cash cost per pound produced represents the mining (including all stripping costs), milling, mine site administration, roasting and packaging costs for molybdenum oxide and HPM produced at each mine in the period.  Stripping costs represent the costs associated with the activity of removing overburden and other mine waste materials in the production phase of a mining operation.  Stripping costs that provide access to mineral reserves that will be produced in future periods are expensed under US GAAP as incurred.  Cash cost per pound produced excludes the effects of purchase price adjustments, the effects of changes in inventory, stock-based compensation, other non-cash employee benefits and depreciation, depletion, amortization and accretion.  Cash cost for the Thompson Creek mine, which only produces molybdenum sulfide and HPM on site, includes an estimated molybdenum loss (sulfide to oxide), an allocation of roasting and packaging costs from the Langeloth Facility, and transportation costs from the Thompson Creek mine to the Langeloth facility. The weighted average cash cost per pound produced represents the cumulative total of the cash costs for the Thompson Creek mine and the Endako mine divided by the cumulative total production from the Thompson Creek mine and the Endako mine.

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The average realized sales price per pound sold represents molybdenum sales revenue divided by the pounds sold.

Three Month Period ended December 31 (US$ in millions except per pound amounts—Unaudited)

Year End Period December 31 (US$ in millions except per pound amounts—Unaudited)

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(1)  Mined production pounds are molybdenum oxide and HPM from the Company’s share of the production from the mines; excludes molybdenum processed from purchased product.

(2)  Cash costs represent the mining (including all stripping costs), milling, mine site administration, roasting and packaging costs for molybdenum oxide and HPM produced in the period.  Cash cost excludes: the effect of purchase price adjustments, the effects of changes in inventory, stock-based compensation, other non-cash employee benefits and depreciation, depletion, amortization and accretion.  The cash cost for the Thompson Creek mine, which only produces molybdenum sulfide and HPM on site, includes an estimated molybdenum loss (sulfide to oxide), an allocation of roasting and packaging costs from the Langeloth facility, and transportation costs from the Thompson Creek mine to the Langeloth facility.

(3)  Other operations represent activities related to the roasting, processing, and upgrading of third-party concentrate and other metals at the Langeloth Facility and exclude product volumes and costs related to the roasting and processing of Thompson Creek mine and Endako mine concentrate. The Langeloth facility costs associated with roasting and processing of Thompson Creek mine and Endako mine concentrate are included in their respective operating results above.

Additional information on the Company’s financial position is available in Thompson Creek’s Annual Report on Form 10-K for the period ended December 31, 2010, which was filed today on EDGAR (www.sec.gov) and SEDAR (www.sedar.com) and posted on the Company’s website (www.thompsoncreekmetals.com).

Conference Call and Webcast

Thompson Creek will hold a conference call for analysts and investors to discuss its 2010 financial results on Friday, February 25, 2011 at 8:30 am Eastern Time.  Kevin Loughrey, Chairman and Chief Executive Officer, and Pamela Saxton, Chief Financial Officer, will be available to answer questions during the call.

To participate in the call, please dial 1 (647) 427-7450 or 1 (888) 231-8191 about five minutes prior to the start of the call.  A live audio webcast of the conference call will be available at www.newswire.ca and www.thompsoncreekmetals.com.

An archived recording of the conference call will be available at 1 (416) 849-0833 or 1 (800) 642-1687 (access code 42212766 followed by the number sign) from 11:30 a.m. Eastern Time on February 25 to 11:59 p.m. Eastern Time on March 4.  An archived recording of the webcast will also be available at Thompson Creek’s website.

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.  Among the Company’s development projects are the Mount Emmons molybdenum property in Colorado and the Davidson molybdenum and Berg copper-molybdenum-silver properties in northern British Columbia.  Thompson Creek has approximately 928 employees.  Its principal executive office is in Denver, Colorado, and it also has offices in Vancouver, British Columbia and Toronto, Ontario. More information is available at www.thompsoncreekmetals.com.

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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.  Often, but not always, forward-looking statements include:  statements with respect to future financial or operating performance of Thompson Creek or its subsidiaries and it projects; statements regarding future inventory, capital expenditures and exploration expenditures; 2011 operating goals; and 2011 molybdenum prices.

Such factors include, among others, risks related to general business, economic, competitive, political and social uncertainties including the  global economic conditions, the volatility in molybdenum prices; risks related to foreign currency fluctuations; energy prices & fluctuations; 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; impurities and toxic substances in the mined material; 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 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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THOMPSON CREEK METALS COMPANY INC.

CONSOLIDATED BALANCE SHEETS

(US dollars in millions)

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THOMPSON CREEK METALS COMPANY INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(US dollars in millions, except per share data)

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THOMPSON CREEK METALS COMPANY INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

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