TORONTO, ONTARIO--(Marketwire - Oct. 10, 2008) - Consolidated Thompson Iron Mines Limited (TSX:CLM) ("CLM" or the "Company") today announced that the Autorite des marches financiers (Quebec) has alleged in proceedings that Richard Quesnel, the President and Chief Executive Officer of the Company, purchased 30,000 CLM common shares while in possession of privileged information in March 2006 and also failed to report such purchases as required by law.
Mr. Quesnel intends to defend these allegations vigorously and has filed a plea of not guilty. Mr. Quesnel will continue to serve as the President, Chief Executive Officer and Director of the Company during his defence of these allegations.
About Consolidated Thompson
Consolidated Thompson Iron Mines Limited is an exploration and development company. The Company has approximately 119.0 million shares outstanding and trades on the TSX under the symbol CLM. Further information can be accessed at the Company's website at www.consolidatedthompson.com.
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