NEWS RELEASE November 17, 2010 FOR IMMEDIATE RELEASE

Thompson challenged by Vale decision

THOMPSON, MB - November 17, 2010 – This morning Vale announced that it will be phasing out its refining and smelting operations in Thompson by 2015 and transitioning into mining and milling operations only. Vale has stated that this is a “necessary step in creating a long-term sustainable future for our Manitoba operations.” “The City of Thompson is disappointed in the direction that Vale has taken. As a city we are focused on finding solutions for our community and the region. We understand the concerns of families and businesses, and we will continue to build a strong and sustainable future for Thompson,” stated Mayor Tim Johnston. This challenge will require the cooperation of all those involved, city council, local businesses, and residents. The City is in the process of evaluating the situation and is developing a comprehensive plan to address the issues and concerns of residents and the impact this announcement will have on Thompson. A major aspect of the plan is to work closely with and build existing partnerships with provincial and federal government representatives as well as Vale. The City is presently in communications with Manitoba Premier Greg Selinger; Minister of Innovation, Energy and Mines, Dave Chomiak; and Minister of Infrastructure and Transportation and Thompson MLA, Steve Ashton. Mayor Johnston continued, “We are committed to an ongoing communications strategy with the community and will do our best to keep the public informed on ongoing developments.” City of Thompson Mission Statement:

The City of Thompson is dedicated to sustain a good quality of life and provide a safe and friendly environment in the community. We will strive to preserve and promote our unique northern heritage and culture. Together we will grow in peace, harmony and prosperity.

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The City of Thompson is the third largest city in Manitoba and home to a diverse population of 13,446 people. Known as the Hub of the North, Thompson is the regional trade and service centre of northern Manitoba, representing an additional 36,000 – 65,000 Manitobans. As such, it has all of the services and amenities that would be expected in a much larger urban centre. The city is located 830 kilometers north of the international border, and 739 kilometers north of the provincial capital of Winnipeg. On behalf of the City of Thompson, contact: Tammy Lee Marche, BullMarket Consulting Ltd. 204.679.5436 tmarche@bullmarketconsulting.com