“We are pleased to be able to report this substantial new resource within months of completing the acquisition of Aur,” said Don Lindsay, Teck’s president and CEO. “Our confidence at the time of the Aur acquisition that QB held tremendous potential value appears to have been justified. Of the over 1 billion tons of new resource, we have identified a higher grade zone in the bottom of the existing enriched sulphide (supergene) pit that contains approximately 300 million tons grading 0.55% copper and 0.020% molybdenum. That portion of the deposit could provide a substantial starter pit for a five to 10 year period that would benefit from having been largely pre-stripped by ongoing mining of the supergene ore body. We fully expect that our ongoing drilling program should result in not only this resource being eventually converted to reserves, but also in a significant expansion of this new resource in the relatively near future.”

Teck Cominco has a 76.5% equity interest in Compania Minera Quebrada Blanca, which owns the Quebrada Blanca property. Development and exploitation of the hypogene resource would require construction of a concentrator, tailings facility and associated infrastructure. Development will require various environmental and other permits and governmental authorizations, and may require additional water rights. Additional drilling and engineering studies are under way.