August 1

Consolidated Thompson Iron Mines Signs Rail Transportation Contract With Quebec North Shore and Labrador Railway Company

Consolidated Thompson Iron Mines Limited (TSX: CLM) (the \"Company\", or \"Consolidated Thompson\") is pleased to announce that it has entered into a transportation agreement with the Quebec North Shore and Labrador Railway Company, Inc. (\"QNS&L\") for the transportation of iron ore concentrate generated from the Bloom Lake iron ore project.

The agreement provides that iron ore concentrate from the Company\'s Bloom Lake property will be carried on the QNS&L railway from the Wabush Lake Junction in Labrador City, Newfoundland & Labrador to the Sept-Iles Junction in Sept-Iles, Quebec, a distance of approximately 400 kilometers. Richard Quesnel, President and Chief Executive Officer of Consolidated Thompson said, \"We are very pleased to have signed a confidential rail transport agreement with QNS&L, an outstanding and well-recognized rail transporter. This agreement will ensure long-term access to the world\'s largest consumers of iron ore for our future high quality product. The signing of this rail transport agreement also marks a significant milestone in the development of the Bloom Lake property.\"

About Consolidated Thompson

Consolidated Thompson Iron Mines Limited is a Canadian corporation that is devoted to exploring, developing and mining mineral deposits. The Company has approximately 119.0 million shares outstanding, and trades on the Toronto Stock Exchange under the symbol \"CLM\". For more information, visit www.consolidatedthompson.com.

For Further Information or to obtain a copy of the applicable securities report filed in connection with the matters set forth above, please contact: Consolidated Thompson Iron Mines Limited Richard Quesnel 514-249-6320 This email address is being protected from spambots. You need JavaScript enabled to view it. www.consolidatedthompson.com

Except for statements of historical fact relating to the Company, 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 rail contract and its benefits, the development potential and timetable of Bloom Lake project, capital expenditures; permitting time lines and permitting, government regulation of mining operations; and environmental risks. 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 information is based on the opinions and estimates of management as of the date such statements are made, and they are 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 Company posted under the profile of the Company 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.

Contacts: Consolidated Thompson Iron Mines Limited Richard Quesnel (514) 249-6320 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.consolidatedthompson.com

SOURCE: Consolidated Thompson Iron Mines Limited

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