Consolidated Thompson Iron Mines Limited
TSX : CLM

Consolidated Thompson Iron Mines Limited

July 06, 2010 16:15 ET

Consolidated Thompson Filed With SEDAR a 43-101 Technical Report

For its Feasibility Study to Increase Production from 8.0 to 16.0 Million Tonnes of Iron Ore Concentrate Per Year at the Bloom Lake Project

MONTREAL, QUEBEC--(Marketwire - July 6, 2010) - Consolidated Thompson Iron Mines Limited (TSX:CLM) ("CLM" or the "Corporation") is pleased to announce that it has filed on SEDAR a 43-101 compliant technical report following the previous announcement on May 19, 2010 of the Feasibility Study (the "Study") to increase production of the Bloom Lake Iron Ore project from 8.0 to 16.0 million tonnes of concentrate per year ("MTPY") expected to commence in the third quarter of 2012. The Study was completed by CIMA+ ("CIMA"), an international engineering firm based in Montreal. The principal authors of the report are Mr. Réjean Foisy, Eng., Ph.D. (CIMA+), Michel Bourassa, Eng (Soutex), John Lemieux, Eng. (Amec), Patrice Live, Eng. (BBA) and Mrs. Nicole Rioux, Geologist (Genivar). They are all qualified persons as defined in National Instrument 43-101 and are independent of the Corporation.

Information on Consolidated Thompson Iron Mines Limited

Consolidated Thompson Iron Mines Limited is a development, exploration and producing mining company. The Corporation is presently producing iron ore at the Bloom Lake world class iron ore concentrate deposit located in the Quebec/Labrador trough and is expected to reach a rate of production of 8.0 million tones of concentrate per year shortly. The quality and size of the Bloom Lake and Peppler/Lamelee deposits reflect the potential to expand and advance these projects and exploit other opportunities in the iron ore industry. The Corporation has approximately 231 million shares outstanding and trades on the TSX under the symbol "CLM".

Caution regarding forward-looking statement

Except for statements of historical fact relating to the Corporation, 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 receipt of all necessary approvals; capital required to complete the development of the Bloom Lake mine and timing of such requirements; the conclusions, parameters and assumptions underlying current mine plans, the development potential and timetable of bloom Lake project; capital and operating expenditures; iron ore prices; permitting time lines and permitting; government regulation of mining operations; environmental risks and the impact of management appointments; mineral reserve and resource estimates; the ability to realize estimated mineral reserves and to convert mineral resources into mineral reserves; terms and costs of future exploration; mineralization projections; receipt of all necessary approvals; the parameters and assumptions underlying the mineral resource estimates. 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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated timing, amount and cost of mining at the Bloom Lake Project are based on assumptions underlying mineral reserve and mineral resource estimates and the realization of such estimates as are set out in CLM's feasibility study. Capital and operating cost estimates are based on extensive research of the Corporation, purchase orders placed by the Corporation to date, recent estimates of construction and mining costs and other factors that are set out in CLM's feasibility study. Production estimates are based on mine plans and production schedules, which have been developed by the Corporation's personnel and independent consultants. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Consolidated Thompson 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 Corporation posted under the profile of the Corporation on SEDAR at www.sedar.com. Although management of Consolidated Thompson 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. Consolidated Thompson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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