Teck Resources Limited
TSX : TCK.A
TSX : TCK.B
NYSE : TCK

Teck Resources Limited

March 08, 2011 17:13 ET

Teck Announces Sale of Carrapateena Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - Teck Resources Limited ("Teck", TCK.A and TCK.B, NYSE: TCK) announced today that it has entered into an agreement to sell its interest in the Carrapateena Project in South Australia to an affiliate of OZ Minerals Ltd. Teck expects to receive cash proceeds on closing of approximately US$134 million and will have the right to receive up to approximately US$25 million on the occurrence of certain specified events relating to production from the Carrapateena property. Closing of the transaction is subject to customary conditions, and is expected to occur in the second quarter.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). These forward-looking statements and information include statements concerning the proposed sale of an interest in the Carrapateena Project, and the timing of closing, and Teck's expected proceeds. Events or circumstances could cause actual results to differ materially.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks relating to the completion of the proposed transaction, and other risk factors as detailed from time to time in Teck's reports filed with Canadian securities administrators and the U.S. Securities and Exchange Commission.

Certain of these risks are described in more detail in the annual information form of Teck and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

About Teck Resources

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK (www.teck.com).

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