Consolidated Thompson Iron Mines Limited
TSX : CLM

Consolidated Thompson Iron Mines Limited

September 09, 2010 09:00 ET

Consolidated Thompson Iron Mines Limited Operational Updates

MONTREAL, QUEBEC--(Marketwire - Sept. 9, 2010) - Consolidated Thompson Iron Mines Ltd. (TSX:CLM) ("CLM" or the "Corporation", or "Consolidated Thompson") is pleased to announce that it has received written authorization from the Minister of Natural Resources of the Government of Newfoundland and Labrador to increase the transport of iron ore concentrate over the Bloom Lake railway by an additional 8.0 million tonnes per year, bringing the total tonnage of iron ore concentrate transported by CLM over such railway to 16.0 million tonnes per year. The Corporation continues to implement its plan to double its capacity for mining operations at Bloom Lake by the end of 2012 and expects to initiate construction work for its new process facilities before the end of this year.

CLM also continues to increase production at the Bloom Lake mine at a steady rate and expects to reach a rate of production equivalent to 90 percent of 8 million tonnes per annum by the end of 2010. The Corporation anticipates that it will reach a rate of production of 8 million tonnes per annum in the first quarter of 2011.

About Consolidated Thompson Iron Mines Limited

Consolidated Thompson Iron Mines Limited is a development and exploration mining Corporation focused on the iron ore mining industry. Based in Montreal, Canada, it has iron ore rich mining properties in the well-known Labrador Trough that spans North-Eastern Québec and Western Newfoundland and Labrador. It is currently operating the Lake Bloom mine and currently moving towards the initial production rate of 8.0 million tonnes per year of high quality iron ore concentrate with a Fe content greater than 66%. As an emerging world-class producer, Consolidated Thompson is listed on the Toronto Stock Exchange under the 'CLM' symbol and is part of several S&P/TSX indices including the S&P/TSX Composite Index.

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 the iron ore grade and Fe content and the ability to produce and sell the expected 8 million tonnes of iron ore concentrate on annual basis. 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. 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.

Contact Information