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MONTREAL, QUEBEC--(Marketwire - May 28, 2010) - Consolidated Thompson Iron Mines Limited (TSX:CLM) ("CLM" or the "Corporation") announced today that, for the first time since his hiring in 2005, Richard Quesnel, President and CEO of the Corporation, exercised options issued in 2005, which were set to expire in August 2010. Mr Quesnel exercised 200,000 share options and retained 15,000 shares to increase his holdings in the Corporation to 50,000 common shares.

Information on Consolidated Thompson Iron Mines Limited

Consolidated Thompson Iron Mines Limited is a development, exploration and producing mining company. The Corporation is presently producing iron ore at the Bloom Lake world class iron ore concentrate deposit located in the Quebec/Labrador trough and is expected to reach a rate of production of 8.0 million tones of concentrate per year shortly. The quality and size of the Bloom Lake and Peppler/Lamelee deposits reflect the potential to expand and advance these projects and exploit other opportunities in the iron ore industry. The Corporation has approximately 231 million shares outstanding and trades on the TSX under the symbol "CLM".