Overview

Taseko Mines Limited is a mining exploration, development and production company. Its main assets are the 75% owned Gibraltar copper-molybdenum mine, the New Prosperity gold-copper project, the Harmony gold, and the Aley Niobium projects.

Gibraltar

Gibraltar, Taseko’s 75% owned copper-molybdenum mine, is located in south-central British Columbia, approximately 60km north of the city of Williams Lake.
The mine is currently is a 55,000 ton per day operation. The life of mine average annual production is 115 million pounds of copper.

Mine Expansion

Gibraltar has undergone a major, multi-phase expansion and modernization program. Over $300 million has been invested in both mining equipment and concentrator upgrades. Gibraltar's daily mill capacity is 55,000 tons per day, resulting in annual production capacity of 115 million pounds of copper and 1.4 million pounds of molybdenum.

Phase I:
Phase I of the expansion included the addition of a new 34 foot semi-autogenous grinding (SAG) mill, a complete replacement of the original flotation recovery system as well as a number of downstream upgrades and modifications. It was completed on time and on budget, in 2008 at a cost of $76 million.

Phase II:
Phase II modifications were designed to allow the new SAG mill to process up to its designed capacity of 55,000 tons per day by increasing capacity in other circuits of the concentrator. Phase II included the addition of an upgraded tailings pumping system, increased regrind capacity, cleaner flotation cells, pressure filters and driers, as well as new equipment including a Bucyrus 495HR 60 yard shovel and four new 320 ton haul trucks.

GDP3:
In the Spring of 2011, construction commenced for Gibraltar Development Plan 3 (GDP3). GDP3 will include the construction of a 55,000 ton per day concentrator to complement the existing 55,000 ton per day facility currently operating. The additional capacity will increase Gibraltar's annual copper production by approximately 60 million pounds to 180 million pounds, at life of mine average grade.

An integral part of this project is a new molybdenum recovery facility, increasing molybdenum metal production by over one million pounds per year.

Capital costs for GDP3 are expected to be $235 million for the concentrator and molybdenum plant and approximately $90 million for mining equipment. Construction will commence in early spring and commissioning of the new concentrator is anticipated in Q4 2012.

Go-ahead for the project also requires co-operation of Taseko's 25% Gibraltar Joint Venture partner Cariboo Copper Corp. and the parties are now in discussions to this end.

Extending Mine Life - Reserves and Resources

When Gibraltar was restarted in 2004, the proven and probable reserves were 149 million tons and the mine life was 12 years. Today, the mine life is 27 years, with proven and probable reserves of 802 million tons.

Economic Benefits

The Gibraltar mine provides substantial economic benefits to the local area by employing in excess of 400 people. Gibraltar is focused on maintaining the operations as a long-life mine and Taseko has planned for the long-term turning challenges into opportunities.

For further information about the mine or the company, visit Taseko Mines Limited at www.tasekomines.com and for information about Williams Lake and area visit www.williamslake.ca

Thursday, May 16, 2013 Foreman, Mill Maintenance, McLeese Lake, BC, Canada Thursday, May 09, 2013 Senior Buyer, McLeese Lake, BC, Canada Saturday, April 06, 2013 Senior Mine Engineer, Vancouver, BC, Canada