VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 18, 2016) - Teck Resources Limited ("Teck", TSX: TCK.A and
TCK.B, NYSE: TCK) announced today that a wholly owned subsidiary has exercised a right of first refusal to acquire the 49%
interest held by Rox Resources Limited ("Rox")(ASX:RXL) in the Teena/Reward zinc project, which is already subject to Teck's
right to earn an additional 19% interest. The consideration will consist of AUD$10.6 million in cash (or AUD$8.0 million in cash
and AUD$3.6 million in freely trading securities) payable on closing, a three year AUD$5.25 million interest bearing promissory
note, and a further AUD$3.75 million in cash payable on the earlier of six years from the closing date or completion of a
bankable feasibility study for the project. Closing of the transaction is subject to customary conditions, including definitive
documentation. On closing, Teck will hold a 100% interest in the Teena project.
Teena is located 8 kilometres west of Glencore's MacArthur River Mine in the Northern Territory of Australia, within one of
the world's premier zinc provinces. Teck's subsidiary optioned the property from Rox in 2011 and discovered Teena in
2013.
Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable
securities laws (collectively referred to as "forward-looking statements"). The forward-looking statements in this news release
relate to the closing of the purchase of the 49% interest in the Teena/Reward zinc project. These statements are based on the
assumption that the conditions to closing, including settlement of definitive documentation, are satisfied. Factors that may
cause the expected closing to not take place include, but are not limited to, an inability to settle definitive documents, and
closing conditions, including accuracy of representations and warranties, not being satisfied.
About Teck
Teck is a diversified resource company committed to responsible mining and mineral development with major business units
focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto
Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Learn more about Teck at
www.teck.com or follow @TeckResources.