A Growing, Diversifiedg,North American Mining Company

Investor PresentationInvestor PresentationMay 17, 2012

Cautionary StatementsCautionary Statements

This document contains ‘‘forward-looking statements’’ within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, asamended, Section 21E of the Securities Act of 1934, as amended and applicable Canadian securities legislation. These forward-looking statements generally are identified by the words"believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similarexpressions. Our forward looking statements include, without limitation: estimates of future capital expenditures and other cash needs for operations, including with respect to thedevelopment of Mt Milligan and expectations as to the funding thereof; statements as to the projected development of Mt Milligan and other projects including expected productiondevelopment of Mt. Milligan, and expectations as to the funding thereof; statements as to the projected development of Mt. Milligan and other projects, including expected productioncommencement dates; statements as to the expected mill capacity at Endako and statements regarding future earnings, and the sensitivity of earnings to molybdenum prices; estimates offuture production costs and other expenses for specific operations and on a consolidated basis; estimates of future mineral production and sales for specific operations and on aconsolidated basis; estimates of mineral reserves and resources, including estimated mine life and annual production; statements with respect to the future financial or operatingperformance of Thompson Creek or its subsidiaries and its projects; and statements with respect to the costs and timing of future exploration projects and the development of new depositsincluding the Berg property and the Davidson property.

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, ourforward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future

f f ff f fresults expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the section entitled ‘‘Risk Factors’’ in Thompson Creek’s 2011 Form 10-K, Quarterly Report on Form 10-Q for the three months ended March 31, 2012,and other documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Although we have attempted to identify those factors that could cause actual results or events todiffer from those described in such forward-looking statements, there may be other factors that cause results or events to differ from those anticipated, estimated or intended. Many of thesefactors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake noobligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources: This presentation uses the terms “Measured”, “Indicated” and“Inferred” Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchangeg q y g gCommission does not recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot beassumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form thebasis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be convertedinto Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

All currency figures in US$, except where noted.

2

Company Overview (NYSE: TC; TSX: TCM)

The Company Strong North American Portfolio of Assets

MT MILLIGAN

MAZE LAKENunavut

HOWARDS PASSYukon

Growing, diversified North American mining company

R i l d

LANGELOTH

DAVIDSONBritish Columbia

MT. MILLIGANBritish Columbia

BERGBritish Columbia CANADA

CANADIAN

Reserves includeMo MolybdenumCu CopperAu GoldAg Silver

THOMPSONCREEK MINE

ENDAKO MINEBritish Columbia

LANGELOTH METALLURGICAL FACILITYPennsylvania

OperationsConstruction &

USA

CANADIAN OFFICEVancouver

Ag Silver

Invested in our operationsState-of-the-art new mill at Endako

Idaho Construction &DevelopmentExploration PropertiesCorporate Offices

HEADQUARTERS Denver

at Endako

Building new minesMt. Milligan 2013

3

TC Stock Price, Moly Price vs. S&P 500 November 2006 – April 2012TC Stock Price, Moly Price vs. S&P 500 November 2006 – April 2012

4

Pro Forma Share Structureas of March 31, 2012Pro Forma Share Structureas of March 31, 2012

TC/TCM Common Shares (US$)

Recent share price1 $3.56

Current market cap $0.6 billion

52-week low/high $3.56/$11.11

Basic shares outstanding 168.1 million

Share options, restricted/performance shares 4.3 millionp p

Warrants – former Terrane Metals2 0.4 million

tMEDS – maximum shares upon conversion 47.4 million

Fully diluted shares outstanding 220.2 million

C h B l $162 7 illiCash Balance $162.7 million

Debt $373.2 million

Listings: NYSE:TC, TSX:TCM, TSX-V:TRX.WT

1 Updated May 17, 2012.E i id f ff t f th t i i i t th h id ti th t ld th i b bl t th h ld i f t f C$0 05

5

2 Exercise provides for an offset of the warrant exercise price against the cash consideration that would otherwise be payable to the holders upon exercise of a warrant of C$0.05 with an expiration date of 6/23/12.

First Quarter 2012 FinancialsFirst Quarter 2012 Financials

US$ millions except as noted First Quarter 2012

Revenue $113.6

Operating (Loss) Income $(16 5)Operating (Loss) Income $(16.5)

Operating Cash Flow $3.1

Net Income $1.1

Adjusted Net Income $1.21

Net Income per share Basic $0.01/sh

Diluted $0.01/sh

Adjusted Net Income per share Basic $0.01/sh1

Diluted $0.01/sh1

Molybdenum Production 4.4 M lbs

Production Cash Costs3 $ 12.95/lb

A R li d P i $ 14 74/lbAverage Realized Price $ 14.74/lb

Cash + S-T Investments (03/31/12) $162.7

Total debt (03/31/12)4 $373.2

6

1 Non-GAAP measure. Excludes $0.1 million non-cash loss related to warrants. 2 Non-GAPP measure. Excludes $66.0 million non-cash gain related to warrants.3 Non-GAAP measure. See Form 10-Q for the quarter ended March 31, 2012 additional information.4 Includes capital leases.

Cash Capital Expendituresin millions of US DollarsCash Capital Expendituresin millions of US Dollars

Operations Endako Expansion1 Mount Milligan1, 2 Total

$409$65 $221 $6952011►actual

$750-$825

$190

$35-$40

$15

$83 $868-$948

$205

2012►estimate3

$190-$245

$15-$20

$205-$265

2013►estimate

$40 $141$7 $188Q112►actual

7

1 Excludes capitalized interest and debt issuance costs. Costs for the remainder of 2012 (04/12 through 12/12) and 2013 assume a CAD/USD exchange rate of 1.00. 2 Includes amounts for equipment purchased under capital leases, as well as commissioning and first-fill parts to start the mill.3 Includes Q1 2012 actual cash expenditures.

Pro-Forma Cash Capital Expenditures FundingAs of March 31, 2012

HIGH■ Mt. Milligan■ Maintenance

Remaining Cash Capital Q2 2012 thru Q4 20131

in millions of US dollars NEW NEW $407nnet proceeds et proceeds after fees and estimated after fees and estimated transaction costs transaction costs

C$1.1Billionj t h t

212tMEDS 929

LOW 885

HIGH 1,025

■ Maintenance■ Endako Expansion■ Funding Sources■ Additional Funding

3

3

2

project cash spentsince inception thru 3/31/12

172

195Notes

799

$1,067t t lt t l

3

201

124new total new total

funding funding in placein place

excludes cash flow

from

1 Assumes CAD/USD exchange rate of 1 00

43163

53

Cash on hand

Net revolver availability

Equipment financing

Royal Gold proceeds

New Senior Notes

Tangible Equity Units

Low estimate High estimate

4

from operations 43

8

1 Assumes CAD/USD exchange rate of 1.00.2 Excludes additional proceeds from over allocation position. 3 Includes Mt. Milligan working capital of approximately $30 million (first fills, spare parts, & commissioning parts) and a contingency of $137 million at the high estimate ($7 million contingency at the

low estimate). Assumes an independent third party lease arrangement for the permanent camp at Mt. Milligan.4 Net revolver availability defined as availability under R/C facility less minimum liquidity. Minimum liquidity is currently defined as (i) the amount of cash on hand and (ii) availability under the R/C and (iii)

expected payment from Royal Gold that will be received in the next quarter.

OutlookMolybdenum Production & Cash Costs

Mo Productionin millions of pounds

30 34

25

87

10-11

11-12

Endako Mine

Thompson Creek Mine

3328 26-28

30-34

2521

16-17

19-2210 11

2010 2011 2012 2013guidance guidanceactualactual

Cash CostsUS dollars per pound

$6.07 $7.94 $7.75–$9.00 $6.75–$7.75

Thompson Creek $5.20 $6.66 $7.50–$8.50 $6.00–$7.00

Endako1 $8 89 $11 86 $8 25–$9 25 $8 00–$9 00

9

1 Guidance numbers for Endako assume a USD/CAD exchange rate of 1.00.

Endako1 $8.89 $11.86 $8.25–$9.25 $8.00–$9.00

Thompson Creek Mine – Idaho

Mo Production16 -17 million pounds in 2012 (estimate)

Cash Costs (Mo oxide)$7.50 - $8.50 per pound in 2012 (estimate)

1Proven and Probable Mineral Reserves1

(Contained Mo)220.9 million pounds Mo2

Average grade of 0.077% Mo

15-Year Mine Life (Based on proven and probable reserves)

Measured and Indicated Mineral Resources(Contained Mo)54 3 million pounds Mo3

In operation since 1983

1 The Mineral Reserve estimates for the Thompson Creek Mine set out in the table above are as of December 31, 2011 and were prepared by the Thompson Creek Mine staff, have been verified by John M. Marek, Registered Professional Engineer, of IMC, who is a Qualified Person under NI 43-101, and utilize a cut-off grade of 0.030% Mo. Data verification and block model assembly was completed by Michael J. Lechner of Resource Modeling Inc. The NI 43-101 Technical Report on the Mineral Resources and Reserves of the Thompson Creek molybdenum mine is dated February 9, 2011 and filed on SEDAR on February 24, 2011

54.3 million pounds Mo3

Average grade of 0.046% Mo

10

2011. 2 The Mineral Reserve at the Thompson Creek mine was estimated using an average long-term molybdenum price of $12.00 per pound. The Thompson Creek mine has limited ability to expand the pit due to

limitations on tailing capacity. Therefore, the final pit design reflects the maximum ore capacity that can be produced in the foreseeable future.3 The Mineral Resources for the Thompson Creek Mine were estimated using optimized pit shells at a molybdenum price of $15.00 per pound. The Mineral Reserves are not included in the Mineral Resources. The

Qualified Person, as defined under NI 43-101, for the estimation of Mineral Resources was John M. Marek, P.E., of IMC. The Thompson Creek Mine Mineral Resource estimate is based on a NI 43-101 technical report prepared for us, entitled "Technical Report Thompson Creek Molybdenum Mine" dated February 9, 2011 and filed on SEDAR on February 24, 2011.

Endako Mine – British Columbia

Mo Production14-15 million pounds in 2012 (estimate)(10-11 million Thompson Creek’s 75% share)

Cash Costs (Mo oxide)$8.25 – $9.25 per pound in 2012 (estimate)

1Proven and Probable Mineral Reserves1

(Contained Mo)303.9 million pounds Mo2

Average grade of 0.046% Mo

18-Year Mine Life (Based on proven and probable reserves)

Measured and Indicated Mineral Resources(Contained Mo)38 0 million pounds Mo3

In operation since 1965

38.0 million pounds Mo3

Average grade of 0.030% Mo

1 The Mineral Reserve estimate for the Endako Mine set out in the table above are as of December 31, 2011 and was prepared by the Endako Mine staff, has been verified by Bob Jedrzejczak P. Eng, Mine Superintendent of the Endako Mine, who is a Qualified Person under NI 43-101, and utilized a cut-off grade of 0.018% Mo. The Mineral Reserve is stated on a 100% basis. We own 75% of the Endako Mine. The Endako Mineral Reserve estimate is based on a NI 43-101 technical report prepared for us by John Marek, P.E. of IMC, who is a Qualified Person under NI 43-101, entitled "Technical Report Endako Molybdenum Mine" dated and filed on SEDAR on September 12 2011

11

Mine dated and filed on SEDAR on September 12, 2011.2 The Mineral Reserve estimate for the Endako Mine was estimated using an average long-term molybdenum price of C$13.50 per pound or US$12.00 per pound using an exchange rate of C$1.125 to US$1.00. 3 The Mineral Resources for the Endako Mine were estimated using optimized pit shells at a molybdenum price of C$16.50 per pound or US$15.00 per pound using an exchange rate of C$1.10/US$1.00. Other

than metal price, the same pit shell parameters and modifying factors used to determine the Mineral Reserves were used to determine the Mineral Resources. The Mineral Reserves are not included in the Mineral Resources. The Qualified Person, as defined under NI 43-101, for the estimation of Mineral Resources was John M. Marek, P.E., of IMC. The Endako Mineral Resource estimate is based on a NI 43-101 technical report prepared for us, entitled "Technical Report Endako Molybdenum Mine" dated and filed on SEDAR on September 12, 2011.

Endako Mine Recapitalization & Expansion

Mill New state-of-the-art mill in place

• Increases throughput by 77% [from 31k to 55k tons per day]

Conveyor

D k E t Pit

Endako Pit[from 31k to 55k tons per day]

• Reduces unit operating expenses

New mining equipment purchased

– 8 haul trucks [240-ton capacity ea.]

In-Pit CrusherDenak East Pit – 2 shovels [44 cubic yard capacity ea.]

– Drills and support equipment

Production rate increases to 15 – 16 million lbs/year (100%)

Outline of proposed Super Pit

Denak West Pit Staged start up commenced January 2012

– Commercial production achieved February 2012– Mill expansion completed March 2012– Full production is expected Q2 2012Super Pit p p– Mill is performing exceptionally well and is expected

to meet design capacity in the near future

12

Langeloth Metallurgical Facility

Roasting capacityapproximatelyapproximately 35 million pounds per year of molybdenum oxide

Major North American producer of ferro-molybdenum and pure molybdenum oxide

Makes Thompson Creek one of only three Western world molybdenum producers with the capacity to provide final product to worldwide consumers

13

product to worldwide consumers

Mt. Milligan – A Cornerstone Asset

Diversification into copper and gold

Substantial production potential through conventional mining methods

Robust economics given low cash cost profile of deposit

Located in British Columbia, a mining friendly jurisdiction

Recently completed Endako mill expansion allows us to leverage Endako commissioning and project team experience

14

Mt. Milligan Project – British Columbia

Cu Production81 million pounds1 (annual LOM)Au Production194 000 ounces1 (annual LOM)194,000 ounces (annual LOM)Cash Costs (Net of By-Products)<$0.50 per pound Cu (at $690 per ounce Au)

Proven and Probable Mineral Reserves2

2.1 billion pounds CuAverage grade of 0.20% 6.0 million ounces Au Average grade of 0.011 oz/t

22-Year Mine Life (Based on proven and probable reserves)

Measured and Indicated Mineral Resources3

716 million pounds Cu Average grade of 0.15%1 5 illi A1.5 million ounces Au Average grade of 0.006 oz/t

1 Based on October 13, 2009 Terrane Metals Feasibility Update Study press release under 60,000 tpd scenario using base case of $2.00/lb Cu and $800/oz Au with USD/CAD FX rate of $0.85; pre-gold stream transaction. For further information on the Mt. Milligan project, please see Terrane’s “Technical Report – Feasibility Update Mt. Milligan Property – Northern BC”, completed by Wardrop, a Tetra Tech Company, effective October 13, 2009, and press release dated October 13, 2009.

2 The copper and gold Mineral Reserve estimates for Mt. Milligan set out in the tables above have been prepared by Herbert E. Welhener, MMSA-QPM. of IMC, who is a Qualified Person under NI 43-101. The Mt. Milligan Reserve estimate is based on a NI 43-101 technical report prepared for our wholly owned subsidiary, Terrane, entitled "Technical Report—Feasibility Update Mt. Milligan Property—Northern BC" dated October 13, 2009 and filed on

15

estimate is based on a NI 43 101 technical report prepared for our wholly owned subsidiary, Terrane, entitled Technical Report Feasibility Update Mt. Milligan Property Northern BC dated October 13, 2009 and filed on SEDAR on October 13, 2011. The open pit was optimized at a $4.10/t NSR cut-off value and incorporates costs for milling, plant services, tailing services and general and administrative charges and at $1.60/lb copper, $690/oz gold and 0.85 U.S.$/C$ exchange rate.

3 The Mineral Resources estimates for Mt. Milligan set out in the table above have been prepared by Herbert E. Welhener, MMSA-QPM., of IMC. The resources are contained within an open pit shell that was optimized at a $4.10/t NSR cut-off value and incorporates costing for milling, plant services, tailing services and general and administrative charges and at $2.00/lb copper, $800/oz gold and $0.85 U.S. dollar/Canadian dollar exchange rate. The Mineral Reserves are not included in the Mineral Resources. The Mt. Milligan Resource estimate is based on a NI 43-101 technical report prepared for our wholly owned subsidiary, Terrane, entitled "Technical Report—Feasibility Update Mt. Milligan Property—Northern BC" and dated October 13, 2009 and filed on SEDAR on October 13, 2011.

Diversifying the portfolio…

Mt. MilliganOnce in operation, Mt. Milligan will significantly diversify and increase our revenues. We ultimately expect that its production and revenues will approach the scale of our current operationsscale of our current operations.

Mo

MAu CMo Cu

16

A Great Asset with Robust Economics

Significant annual cash flow potential in millions of US dollars1Upside Potential

Reserve calculation utilized conservative metals pricing of $1.60/lb Cu and $690/oz Au

Current resource is open at depth and possibly extends laterally

$600

extends laterally

Multiple exploration drill targets within company’s land position

Mt Milli h i l d h i l $220 Mt. Milligan geophysical and geochemical signature repeated on several targets within the holdings

Revenue potential equal to existing operations

$220

Cash Costs Cash Revenue - Current pricing22

17

1 Estimated cash costs include operating costs, refining/smelting costs, and transportation. Cash operating costs and estimated annual production in concentrate are based upon the 2008 Terrane Metals Corp. Feasibility Study. Assumes average annual production of 89 million lbs of copper in concentrate (85.4 million lbs of payable copper) and 262,000 oz of gold in concentrate (256,760 oz of payable gold) for years 1-6 of full production. Exchange rate is assumed at parity (C$1.00 = US$ 1.00).

2 Bloomberg pricing as of 5/11/12: Cu - $3.65/lb; Au - 60% @ $1,579/oz and 40% @ $435/oz (per Amended and Restated Gold Stream Agreement with Royal Gold).

Mt. Milligan Project Development Update

EPCM progress through March 31, 2012

Engineering – 95%

Procurement – 95%

Construction – 44%

Overall Progress – 62%

Mt. Milligan remains on schedule, with commissioning and start-up scheduled for Q3 2013 and full gold and copper production expected in Q4 2013.

Grinding bay west site

18

A Clear Path to Project Completion

High end of Mt. Milligan capital budgetin millions of Canadian dollars

300

137Contingency represents 46% of non-fixed cost remaining

~$1.5bn~$1.5bn

39696

~70% of project capex of project capex

spentspent oror

593contractually contractually committedcommitted

Cash spent to Purchase Other lump-sum Non-fixed cost Contingency Total project p3/31/2012 commitments

pcontracts remaining

g y p jcapex

19

Mt. Milligan Project De-risking ActionsMt. Milligan Project De-risking Actions

95% of engineering is complete Early procurement of critical items

All major mining and milling equipment is procured and is either on site or en route

Scope, Engineering & Procurement

80% of steel on siteProcurement

Construction of

Tailing Storage Facility (TSF) was fully designed in June 2010 with all critical areas of the dam base completed

Plant DevelopmentCritical Areas Power line to site complete, tested & tied into BC Hydro

60% of concrete is complete and on schedule SAG grinding area is under cover and ready for installation of mill

Mechanical/Electrical contractors – lump sum – contractors assume risk for cost overruns

Schedule issued February 2011 with no changes

Labor/Productivity EPCM – to date have maintained critical personnel with completion payments as incentive TCM has changed its work schedules, enhanced completion bonuses and planned permanent

camp to attract operations personnel

All major permits needed for construction have been obtained Enhanced internal & external staffing to control audit and manage project spendingPermitting &

Schedule Schedule issued February 2011 with no changes Mine operations supports construction of TSF in Q2/Q3 2012, allowing for one year of activity

to achieve operational efficiency and effectiveness

20

Enhanced internal & external staffing to control, audit and manage project spending Project control, contract management, procurement, accounting, audit team

Controls

Mt. Milligan Future Critical MilestonesMt. Milligan Future Critical Milestones

Q112 Q212 Q312 Q412 Q113 Q213 Q313 Q413

Process building grinding area enclosed (3 sides)

Mechanical mill installation beginsMechanical mill installation begins

230kV permanent power energized and available onsite

Delivery and assembly of major mining equipment

Mining equipment fleet ready

Pre-stripping initiated

Pebble crushing building - foundation complete

Truck shop complete

SAG & ball mill installation completeSAG & ball mill installation complete

Process plant mechanical/pre-commissioning complete

Commissioning started

First feed

Full commercial production

21

Development Projects – British ColumbiaDevelopment Projects – British Columbia

Berg Davidson

L ti W t t l B iti h C l bi S ith B iti h C l biLocation West-central British Columbia Smithers, British Columbia

Deposit Copper-molybdenum-silver Molybdenum

Measured + Indicated Mineral Resources

3.3 billion lbs Cu412 million lbs Mo61 illi A 1e a esou ces

(Contained Cu, Mo & Ag)

61 million oz Ag1

Average grade of 0.30% Cu and .037% MoAverage grade of 0.110 oz/t Ag

Project Status Scoping study underway Project re-evaluation on hold

22

1 Estimated by Darin Labrenz, P.Geo., Terrane Metals Corp., a qualified person under NI 43-101, as of May 2009.

A Compelling Investment

Excellent safety and environmental record

New Endako mill expected to reach design capacity in near futureMt Milli ld i t d l ti Q3 2013

Responsible Miner

Near-term completion of growth projects Mt. Milligan copper-gold mine expected completion Q3 2013

Mt. Milligan will significantly increase in revenue, net income and cash flow

Proven and Probable Mo 525 million pounds (includes 100% Endako)

Near term completion of growth projects

Strengthening financial performance

Diversified resources base1(includes 100% Endako)

Reserves Cu 2 billion poundsAu 6 million ounces

Measured + Indicated Mo 504 million pounds Resources Cu 4 billion pounds

Au 1.5 million ouncesAg 61 million Ounces

Significant growth opportunities Berg – Cu, Mo, and Ag; Davidson – Mo

Proven track record in operations, exploration, project development,

High-quality development projects

Experienced management

1 Mineral reserves and resources estimates for the Thompson Creek Mine were prepared by the Thompson Creek Mine staff and verified by John M. Marek of Independent Mining Consultants, Inc. (”IMC”), a Qualified Person under NI 43-101, and utilized a cut-off grade of 0.030% Mo. Mineral reserves and resources estimates for the Endako Mine were

p p p j pM&A

All assets in North America

Experienced management

Low geopolitical risk

23

prepared by the Endako mine staff and verified by Mr. Marek. Endako mineral reserves utilized a cut-off grade of 0.018% and mineral resources utilized a cut-off grade of 0.015 Mineral reserves and resources estimates for Mt. Milligan were prepared by Herb Welhener, MMSA-QPM, Independent Mining Consultants Inc. and Darin Labrenz, P.Geo., former Vice President Business Development of Terrane Metals Corp. Mineral resources estimates for Berg were prepared by Darin Labrenz, P.Geo., former Vice President Business Development Terrane Metals Corp. %. Mineral resources estimates for the Davidson Property were prepared by site personnel, supervised by Ken Collison, P.Eng., former Chief Operating Officer, and verified by Gary Giroux.

Analyst CoverageAnalyst Coverage

Financial Institution Analyst Financial Institution Analyst

Bank of America Merrill Lynch Oscar Cabrera J. P. Morgan Michael Gambardella

BB&T Capital Markets Garrett Nelson Macquarie Capital Markets Pierre Vaillancourt

Canaccord Adams Gary Lampard Paradigm Capital David Davidson

CIBC World Markets Ian Parkinson RBC Capital Markets Fraser Phillips

Credit S isse Ralph Profiti Scotia Capital Thomas Me erCredit Suisse Ralph Profiti Scotia Capital Thomas Meyer

Dahlman Rose & Co Anthony Young Stifel, Nicolaus & Company Paul Massoud

Desjardins Securities John Hughes TD Securities Craig Miller

Deutsche Bank Jorge Beristain UBS Securities Canada Brian MacArthur

GMP Securities David Charles Very Independent Research John Tumazos

24

Molybdenum OverviewMolybdenum Overview

Molybdenum OverviewMolybdenum Overview

Essential metal for today’s modern industry

Strengthens steel, improves weldability, d b i l h l l f ll

Key catalyst in petroleum refining for sulphurremoval

reduces brittleness, helps steel perform well in very high or low temperatures

$8 billion industry at current molybdenum

Powerful anti-corrosive alloy for stainless and alloy steels

26

$8 billion industry at current molybdenum prices

Molybdenum Industry Overview

Top 10 Producers1

[Output in millions of pounds Mo) 2011

Freeport 83

2011 Global P d ti

USACanadaChina

27%3%

34% Freeport 83Codelco 50Grupo Mexico2 42China Molybdenum 34Rio Tinto/Kennecott 31

Production

~ 548 Mpounds1

ChilePeruOtherMexico

17%8%7%4%

Jinduicheng 29Thompson Creek 28Antofagasta 22Collahuasi 15

2011 Geographic Consumption

USAChinaOther

16%36%20%

1 Based on April 2012 CRU report data and company reports. 2 Includes Southern Copper and Asarco.

Antamina 14Total 348

~ 534 M pounds1

Western EuropeJapan

18%10%

First Uses of

Momolybdenum

Constructional Engineering SteelsStainless SteelsAlloy Tool & High Speed SteelsChemicalsCast Iron & SteelsS All

34%25%11%10%8%

27

molybdenum Super AlloysMolybdenum Metal

6%6%

Moly Supply/Demand Fundamentals Remain Favorable

Climax mine is the only new primary mine likely to start up in the near term as rising capital costs and

Supply considerations Demand drivers

China/India/Brazil’s industrialization drive growth Increased intensity of use: oil and gas, oil

permitting hinder other primary mines (expected to produce in 2012)

New by-product sources delayed until 2014 and beyond with Sierra Gorda likely starting up in 2015

Chinese net exports recently playing less of a role in

y g ,refining, autos, aerospace, desalination, and power generation

Estimated 4-6% annual demand growth rate outpacing growth of supply sources through 2020 Chinese net exports recently playing less of a role in

moly trade2020

Molybdenum demand oxide [millions of pounds assuming a 4% growth rate]

Drummed molybdic oxide [US dollars per pound]

14.95ProjectionsHistorical 534

760

13.73

1/4/2012 2/2/2012 3/3/2012 4/2/2012 5/2/2012

959

2010

2012

2020

63

28

Source: CRU and other industry sources (CRU data only for 2005 to 2010); Company estimates Source: Bloomberg, as reported by Metal Bulletin. As of May 2, 2012

1 2 2 2

China: A Major Factor in the Molybdenum PictureChina: A Major Factor in the Molybdenum Picture

Largest producer and largest consumer of molybdenum

Produces approximately 180 million lbs per yearpp y p y

Consumes approximately 165 million lbs per year

Internal molybdenum consumption growing at a faster rate than internal molybdenum production

Molybdenum exports subject to quotas and export taxesMolybdenum exports subject to quotas and export taxes

Production quotas promote domestic consolidation and reduces some marginal production

29

Net Exports/Imports from ChinaNet Exports/Imports from China

Annual Exports/Imports Quarterly Exports/Imports

30

Source: International Molybdenum Association (IMOA). Net exports = exports minus imports.

Molybdenum OutlookMolybdenum Outlook

Oil and gas drilling especially in North America Industrial requirements demand better steels

Strong short-term drivers Positive long-term outlook

Oil and gas drilling, especially in North America

Aerospace – jet engines

Continued economic growth in U.S. and Japan

Industrial requirements demand better steels

Molybdenum is essential in the products in which it is used with few substitutes

G i t l t i il fi i Improving demand in India

Growing catalyst use in oil refineries

The low proportion of molybdenum in finished products makes molybdenum demand relatively price inelastic

31

A diA diAppendixAppendix

AppendixNon-GAAP ReconciliationAppendixNon-GAAP Reconciliation

For the Three Months Ended March 31, 2012(US$ in millions except shares and per share amounts – unaudited)

Weighted Average

Basic Shares Weighted Average

Diluted Shares

Net Income Shares (000’s) $/share

Shares (000’s) $/share

Net Income $ 1.1 168,054 $ 0.01 168,483 $ 0.01Add (D d t)Add (Deduct): Unrealized (gain) loss on common stock purchase warrants 0.1 168,054 - 168,483 -Non-GAAP adjusted net income $ 1.2 168,054 $ 0.01 168,483 $ 0.01

3333

AppendixNon-GAAP Reconciliation (Continued)AppendixNon-GAAP Reconciliation (Continued)

(US$ in millions except per pound amounts — unaudited)

(US$ in millions except shares and per share amounts – unaudited)

Three months ended March 31,2012

OperatingExpenses

(in millions)

PoundsProduced (1)

(000’s lbs) $/lb

Thompson Creek MineCash costs — Non-GAAP (2) $ 35.4 3,422 $ 10.34Add/(Deduct):Add/(Deduct):

Stock-based compensation 0.1Inventory and other adjustments -

GAAP operating expenses $ 35.5Endako MineCash costs — Non-GAAP (2) $ 21.9 1,002 $ 21.87Add/(Deduct):

Stock-based compensation 0.2Commissioning and start-up costs 2.3Commissioning and start up costs 2.3Inventory and other adjustments 7.1

GAAP operating expenses $ 31.5

Other operations GAAP operating expenses (3) $ 35.4GAAP consolidated operating expenses $ 102.4Weighted-average cash cost — Non-GAAP $ 57.3 4,424 $ 12.95

(1) Mined production pounds are molybdenum oxide and HPM from our share of the production from the mines; excludes molybdenum processed from purchased product.

(2) Cash costs represent the mining (including all stripping costs), milling, mine site administration, roasting and packaging costs for molybdenum oxide and HPM produced in the period.Cash cost excludes: the effect of purchase price adjustments, the effects of changes in inventory, corporate allocation stock-based compensation, other non-cash employee benefits,depreciation, depletion, amortization and accretion, and commissioning and start-up costs for the Endako mill. The cash cost for the Thompson Creek mine, which only produces molybdenumsulfide and HPM on site, includes an estimated molybdenum loss (sulfide to oxide), an allocation of roasting and packaging costs from the Langeloth facility, and transportation costs from theThompson Creek mine to the Langeloth facility.

3434

(3) Other operations represent activities related to the roasting and processing of third-party concentrate and other metals at the Langeloth facility and exclude product volumes and costsrelated to the roasting and processing of Thompson Creek mine and Endako mine concentrate. The Langeloth facility costs associated with roasting and processing of Thompson Creek mineand Endako mine concentrate are included in their respective operating results above.

Thompson Creek Metals Company

NYSE:TC TSX:TCM

www.thompsoncreekmetals.comPamela Solly

Director, Investor RelationsPhone: (303) 762-3526 Email: psolly@tcrk.com