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Message: Closes $92,690,000 Financing Including Exercise in Full of Over-Allotment

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Closes $92,690,000 Financing Including Exercise in Full of Over-Allotment

posted on Apr 27, 09 08:55AM

April 27, 2009

Consolidated Thompson Closes $92,690,000 Financing Including Exercise in Full of Over-Allotment

TORONTO, ONTARIO--(Marketwire - April 27, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Consolidated Thompson Iron Mines Limited (TSX:CLM) ("CLM" or "the Company") is pleased to announce that it has closed its previously announced bought deal financing of 35,650,000 common shares, which includes the exercise in full of the over-allotment option, at a price of $2.60 per common share for aggregate gross proceeds to the Company of $92,690,000.

The Company plans to use the net proceeds from the offering towards the costs associated with completing construction on the Bloom Lake project and for general working capital and corporate purposes.

Macquarie Capital Markets Canada Ltd. was the lead underwriter in a syndicate that included Canaccord Capital Corporation, GMP Securities L.P., BMO Nesbitt Burns Inc., Clarus Securities Inc. and Dundee Securities Corporation.

THE COMMON SHARES WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

About Consolidated Thompson

Consolidated Thompson Iron Mines Limited is an exploration and development company. The Company believes that the updated positive Feasibility Study, based on the current understanding of the quality and size of the Bloom Lake deposit, reflects the potential to expand and advance the project and exploit other opportunities in the iron ore industry. The Company has approximately 154.8 million shares outstanding and trades on the TSX under the symbol "CLM". Further information can be accessed at the Company's website at www.consolidatedthompson.com.

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