Consolidated Thompson Closes $179 Million Financing

On March 27, 2008, Consolidated Thompson Iron Mines Limited closed a bought deal financing of 23,000,000 common shares, which includes the exercise in full of the over-allotment option, at a price of $7.80 per common share for aggregate gross proceeds of $179,400,000.

Macquarie Capital Markets Canada Ltd. was the lead underwriter in a syndicate that included Canaccord Capital Corporation, GMP Securities L.P. and RBC Capital Markets.

Consolidated Thompson Iron Mines Limited was advised by John Vettese, Chad Accursi and Nancy Choi (securities) of Cassels Brock & Blackwell LLP. The underwriting syndicate was advised by Maurice Swan, Rhoda Aylward and Janene Charles (securities) of Stikeman Elliott LLP.

Lawyer(s)

Janene Charles Maurice J. Swan Rhoda Aylward Chad Accursi John P. Vettese Nancy Choi