1415020--2/25/2010--Thompson_Creek_Metals_CO

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Risks Relating to the Corporation's Business Molybdenum market price declines could adversely affect the Corporation's earnings and cash flows and could adversely affect the trading prices of the Corporation's equity securities. The Corporation's revenues are dependent on its molybdenum production; sustaining current production levels or increasing its mineral production. Future growth depends on the Corporation's ability to bring new mines into production and to expand mineral reserves at existing mines. The Corporation may not be able to acquire desirable mining assets in the future. Estimates of mineral reserves and projected cash flows may prove to be inaccurate which could negatively impact the Corporation's results of operations and financial condition. The Corporation must continually replace ore reserves depleted by production. The Corporation's exploration activities may not result in additional discoveries. The Endako Mill Expansion Project may not be completed which could adversely affect the Corporation's profitability or operating results. The Corporation's financial condition, results of operations, cash flows and competitive position may be adversely impacted by recessionary economic conditions. Fluctuations in the price of molybdenum may adversely impact the Corporation's cash flow as a result of the Corporation entering into provisionally-priced sales contracts. Disruptions in the financial and capital markets have had an adverse effect on the Corporation's operating results and financial condition for 2009. The Corporation is required, from time to time, to post financial assurances, and there can be no assurance that the Corporation will continue to be able to obtain financial assurances on acceptable terms. Mining operations and roasting facilities are subject to conditions or events beyond the Corporation's control, which could have a material adverse effect on the Corporation's business; Insurance may not cover these risks and hazards adequately or at all. The Corporation's operations are subject to currency fluctuations which could adversely affect its results of operations and financial condition. Increased energy prices could adversely affect the Corporation's results of operations and financial condition. The Corporation's inability to provide reclamation bonding or maintain insurance could adversely affect its operating results and financial condition. The Corporation owns certain assets through joint ventures and any disagreement or failure of partners to meet obligations could have a material adverse effect on the Corporation's results of operations and financial condition. The Corporation must comply with comprehensive environmental regulations and faces significant environmental risks, and the failure to comply could materially adversely affect its results of operations and financial condition. Regulation of greenhouse gas emissions effects and climate change issues may adversely affect the Corporation's operations and markets. The Corporation must remove and reduce impurities and toxic substances naturally occurring in molybdenum and comply with applicable law relating thereto, which could result in remedial action and other costs. The age of Langeloth Facility requires the Corporation to expand significant capital to maintain and upgrade it. Geologic instability and old plant equipment at the Endako Mine could have a material adverse effect on the Corporation's results of operations and financial condition. The Corporation is subject to substantial government regulation and changes to regulation or more stringent implementation could have a material adverse effect on the Corporation's results of operations and financial condition. Title to some of the Corporation's mineral properties may be challenged or defective. Any impairment or effect in title could have a negative impact on the Corporation's results of operations and financial condition. Intense competition could reduce the Corporation's market share or harm its financial performance. The temporary shutdown of any of the Corporation's operations could expose it to significant costs and adversely affect its access to skilled labor The Corporation is required to obtain government permits in order to conduct operations. Disruption of transportation services or increased transportation costs could have a material adverse effect on the Corporation's business, financial condition and results of operations. The Corporation is dependent upon key management personnel and executives. From time to time, some of the Corporation's directors and officers may be involved with other natural resource companies. The Corporation's securities have experienced high price volatility and prices may be adversely affected by factors beyond its control. The Corporation's business will depend on good relations with its employees

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1415020--2/25/2010--Thompson_Creek_Metals_CO_Inc.