Consolidated Thompson's First Iron Ore Shipment to WISCO Leaves Port of Sept-Iles for China Approximately 165,000 Tonnes of High Quality Iron Ore Concentrate Headed for Chinese Market

MONTREAL, QUEBEC -- (Marketwire) -- 07/27/10 -- Consolidated Thompson Iron Mines Ltd (TSX: CLM) ('Consolidated Thompson' or 'CLM' or the 'Corporation') has achieved another key operational milestone, as its first maritime shipment of iron ore concentrate to WISCO has departed the port of Sept Iles, Quebec. The first ship bound for China was loaded with approximately 165,000 tonnes of high quality iron ore concentrate produced by its subsidiary, the Bloom Lake Iron Ore Limited Partnership ('BLLP'), at the now fully operational Bloom Lake mine in North-Eastern Quebec.

This shipment was completed through the Corporation's newly completed port facilities at Pointe Noire in the Port of Sept Iles. It marks the final milestone in a short three-year period during which CLM put in place the key building blocks - mine site preparation and infrastructure, rail car and heavy equipment leasing, equity and debt financing, off-take agreements with Asian customers, construction and servicing of a 31-km railway link and a modern lay-down area for iron ore handling in the Port of Sept-Iles - and transformed itself from an exploration and development mining company to a fully operational world class iron ore concentrate producer.

The ocean vessel that departed the Port of Sept-Iles is the first of many maritime shipments planned in the coming months as Consolidated Thompson is committed to delivering 8 million tonnes of high quality iron ore concentrate annually to its Asian customers, as part of previously announced sale agreements. The quality of the iron ore concentrate produced by the Bloom Lake mine is among the best, exceeding the 66% Fe level.

Mr. Richard Quesnel, the President and Chief Executive Officer of CLM, stated, 'The first boat-load of iron ore concentrate was truly a momentous occasion for the Corporation, its management and employees. It marked the culmination of several years of teamwork and incredible support from regional partners such as the port of Sept Iles and a variety of suppliers. Our focus is now on achieving the steady state of production of 8 million tonnes per year and proceeding expeditiously with the build-out to double the Bloom Lake mine production to 16 million tonnes'.

Executive Chairman Brian Tobin added: 'We are extremely pleased with tremendous work accomplished by our teams and to have reached this important milestone in such a short timeframe. As well, none of this would have been possible without the support of our Chinese partner - WISCO - and cooperation of all the communities, the local interest groups, the government departments and our Innu partners'.

Information on Consolidated Thompson Iron Mines Limited

Consolidated Thompson Iron Mines Limited is a development and exploration mining Corporation focused on the iron ore mining industry. Based in Montreal, Canada, it has iron ore rich mining properties in the well-known Labrador Trough that spans North-Eastern Quebec and Western Newfoundland and Labrador. It is currently operating the Lake Bloom mine at the initial rate of 8.0 million tonnes per year. As an emerging world-class producer, Consolidated Thompson is listed on the Toronto Stock Exchange under the 'CLM' symbol and is part of several S&P/TSX indices including the S&P/TSX Composite Index.

Caution regarding forward-looking statement

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes ''forward-looking information'' under Canadian securities legislation. Forward-looking information includes, but is not limited to the iron ore grade and Fe content and the ability to produce and sell the expected 8 million tonnes of iron ore concentrate on annual basis. 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 statements are based on the opinions and estimates of management as of the date such statements are made. Production estimates are based on mine plans and production schedules, which have been developed by the Company's personnel and independent consultants. Forward-looking information is 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 Corporation 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

President and Chief Executive Officer

(514) 396-6345


Consolidated Thompson Iron Mines Limited

Francois Laurin

Chief Financial Officer

(514) 396-6345
info@consolidatedthompson.com
www.consolidatedthompson.com