Teck Announces Proposed Pogo Sale

Vancouver – Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) today announced that it has entered into a non-binding memorandum of understanding with Sumitomo Metal Mining Co. Ltd. (“SMM”) regarding the proposed sale of Teck’s 40% interest in the Pogo mine in Alaska for US$245 million subject to adjustment for working capital. SMM holds an indirect 51% interest in Pogo and an affiliate of Sumitomo Corp. holds a 9% interest in Pogo.

The arrangement with SMM follows receipt by Teck of a third-party offer to acquire Teck’s interest in Pogo on comparable terms. Completion of the transaction is subject to the negotiation and settlement of a definitive agreement and other customary conditions. Teck expects the transaction to close by the end of the second quarter.