Sojitz Corp. and Blue Pearl Mining continue Endako Mine joint venture following Blue Pearl's acquisition of Thompson Creek

On October 26, 2006, Blue Pearl Mining Ltd. announced the closing of its acquisition of Thompson Creek Metals Company, transforming Blue Pearl into the world's largest publicly traded mining company that produces only molybdenum.

Thompson Creek's key assets include, among other properties, a 75% interest in the Endako mine in British Columbia, which is operated in a joint venture with a Canadian subsidiary of Sojitz Corp., of Tokyo. Sojitz and Blue Pearl will continue the Endako joint venture through their respective affiliates.

Don Dalik, Peter Stafford and Robert Quon of Fasken Martineau advised Sojitz in negotiations with respect to Blue Pearl's acquisition of an interest in this joint venture through Thompson Creek and to related bank facility arrangements.