Taseko Mines Limited is a mining exploration, development and production company. Its main assets are the Gibraltar copper-molybdenum mine, the Prosperity gold-copper project and the Harmony gold prospect.

The Gibraltar Mine, re-started by Taseko in 2004, is undergoing a major two-phase expansion. Annual copper production capacity will be increased to100 million pounds by the end of 2007 and up to 120 million pounds by the end of 2008

Prosperity, one of the largest undeveloped copper-gold deposit in Canada, is being advanced towards mine construction and could be in production by 2011.

GIBRALTAR MINE

The Gibraltar Mine is a 36,000 ton per day open-pit mine located in south-central British Columbia, approximately 68 km north of the City of Williams Lake.

Mine Expansion

Gibraltar is undergoing a major, two-phase expansion and modernization of the concentrator, which was originally built in 1971. The first phase, announced in the spring of 2006 (link to press release) and expected to be complete by the end of 2007, is an expansion of the current grinding circuit as well as a complete replacement of the flotation recovery system. The grinding capacity will be increased by adding a large, Semi Autogenous Grinding (SAG) mill to the front end of the concentrator, which will also improve the efficiency of the present mill and crushing system. The original flotation recovery system is being replaced by 10 state-of-the-art, very large flotation cells. By the end of 2007, the phase 1 expansion will be complete and the daily mill capacity will be increased to 46,000 tons per day, with the capability to produce 100 million pounds of copper and 1.3 million pounds of molybdenum annually.

The second phase of the expansion, announced in May, will allow the new SAG mill to process 55,000 tons per day by increasing capacity in other circuits in the concentrator. The expansion project will include the addition of a pebble crusher, tailings pumping system, regrind mill, cleaner flotation cells, pressure filters and driers. Phase 2 is targeted for completion by the end of 2008.

Upon completion, Gibraltar’s average annual production is expected be 120 million pounds of copper and 1.4 million tons of molybdenum. This additional throughput will also reduce the long-term operating costs at Gibraltar. Both phases of the expansion and modernization, plus additional equipment and associated infrastructure, is estimated to cost approximately C$130 million. There are very few mining companies that have the ability to add incremental capacity at such a low capital cost.

Extending Mine Life

In 2006, a 61,500 foot exploration drilling program was carried out to better define current mineral resources and to test for additional mineralization at depth. The drilling program successfully met these objectives and, in addition, encountered copper and molybdenum grades at depth that are significantly higher than the average 0.30% copper and 0.008% molybdenum grades mined over the past 10 years of operation at Gibraltar.
Based on these positive results, the drilling program has been extended through the spring of 2007 with the goal of further increasing Gibraltar’s reserves.

Taseko announced in December 2006 a 40% increase in proven and probable reserves in the Granite Lake deposit. Under present mine operating parameters of 36,000 tons milled per day, these additional reserves extend the mine life to 21 years. Upon completion of the mill expansion in December 2007 to 46,000 tons per day, Gibraltar mine life will be approximately 16 years.

Re-Starting Low Cost SX-EW Plant

At the end of 2006, the refurbishment of the Solvent Extraction and Electrowinning (SX-EW) plant at Gibraltar was completed and commissioning began. First cathode was produced in January and approximately 1.3 million pounds of copper cathode was produced by mid-year.

The SX-EW plant, which had been idle since 1998, is capable of producing seven million pounds of LME Grade cathode copper per year. This process uses oxidized copper ore which has been stockpiled since Gibraltar re-started operations in October 2004.

The Gibraltar mine provides substantial economic benefits to the local area by employing in excess of 300 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 home page at www.tasekomines.com and for the Williams Lake Area and Cariboo District visit the web site www.landwithoutlimits.com

Friday, May 02, 2008 Assayer, Williams Lake, BC, Canada Thursday, May 01, 2008 Trades, Williams Lake, BC, Canada Assistant Mine Controller, Williams Lake, BC, Canada Friday, April 18, 2008 Certified Journeyman Heavy Duty Mechanic, Williams Lake, BC, Canada Metallurgical Technologist – Flotation Systems, Williams Lake, BC, Canada Metallurgical Technologist - Crushing and Grinding Systems, Williams Lake, BC, Canada Wednesday, April 09, 2008 Senior Mine Engineer, Williams Lake, BC, Canada Thursday, March 13, 2008 Metallurgical Technologist, Williams Lake, BC, Canada