Consolidated Thompson Iron Mines Limited
TSX : CLM

Consolidated Thompson Iron Mines Limited

July 06, 2009 07:00 ET

Consolidated Thompson Provides Clarification in Response to Steel Business Briefing (SBB) Note From July 3, 2009

TORONTO, ONTARIO--(Marketwire - July 6, 2009) - Consolidated Thompson Iron Mines Limited (TSX:CLM) ("CLM" or the "Company") wishes to clarify that a note posted in the SBB Briefing on July 3, 2009 about the status of CLM's Bloom Lake Iron Ore Project ("the note") is factually incorrect.

The SBB note stated that SBB had learned of a delay in production at CLM's Bloom Lake Iron Ore Project through a source at Worldlink Resources, which has entered into an offtake agreement with CLM pursuant to which it has agreed to purchase approximately 88% of the iron concentrate produced from the Bloom Lake property. CLM has conferred with Worldlink and Worldlink firmly denies ever having spoken to SBB regarding this issue. Worldlink responded to CLM by noting that "Worldlink is always supportive to the Bloom Lake Project because we believe in the strong management of CLM". Worldlink further plans to contact SBB and demand for a retraction and correction of the announcement regarding the mentioned delay.

Consolidated Thompson reaffirms that it expects mining to begin at the Bloom Lake project during the fourth quarter of 2009.

About Consolidated Thompson

Consolidated Thompson Iron Mines Limited is a Canadian corporation that is devoted to exploring, developing, and mining mineral deposits. The Company trades on the TSX under the symbol "CLM". For more information, visit www.consolidatedthompson.com.

About the Bloom Lake Iron Mine Project

Located in the regional municipality of Caniapiscau, 13 km northwest of the town of Fermont and 8 km north of the Mont-Wright deposit, the Project is expected to be in production in Q4 2009. Some 400 jobs have been created by the construction activities, and approximately 250 direct jobs will subsequently be created during the operation of the mine.

Forward-looking Statement

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the timing of commencement of production; the terms of the offtake agreement with Worldlink; ability to attract financing on acceptable terms and receipt of all government approvals.. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks described in the annual information form of the Company posted under the profile of the Company on SEDAR at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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