REG-Taseko Announces Improved Economics for Yellowhead Copper Project

Taseko MinesAnnouncement

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VANCOUVER, British Columbia, July 10, 2025 (GLOBE NEWSWIRE) -- Taseko Mines
Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the
"Company") today announced the results of the recently completed technical
report for its 100%-owned Yellowhead Copper Project (the “Yellowhead
Project” or the “Project”) in British Columbia. The Company has filed
the new technical report ("Technical Report Update on the Yellowhead Copper
Project" dated July 10, 2025) (the "Technical Report") on SEDAR+. The
Technical Report was prepared in compliance with NI 43-101 and incorporates
updated capital and operating cost estimates, long-term street consensus metal
prices, and additional technical and engineering work completed since the
previous technical report was filed in January, 2020.   All dollar amounts
are in Canadian dollars, unless otherwise noted and "tonnes” refers to
metric tonnes.

Stuart McDonald, President & CEO commented, “This new Technical Report
establishes Yellowhead as a world class copper project in a tier one
jurisdiction. With strengthening copper prices, the Project economics have
improved significantly since the 2020 technical report. The Project now has a
$2 billion NPV and the potential to become one of the largest copper mines in
North America.”

“It’s been just six years since we acquired Yellowhead for $16 million,
and we’ve added an incredible amount of value to the Project since then.
Over the next few years, in parallel with the permitting process, we will also
be advancing engineering, community engagement, copper offtake discussions,
and project financing initiatives. The Yellowhead Project provides a unique
opportunity as a longer-term growth option for Taseko and we will continue to
methodically move the Project forward to create value for all stakeholders,”
Mr. McDonald added.

Project Highlights:
* 25 year mine life with average annual copper production of 178 million
pounds, at total cash costs (C1) of US$1.90 per pound.
* Concentrator designed to process 90,000 tonnes per day of ore with an
expected copper recovery of 90%, and produce a clean copper concentrate with
payable gold and silver by-products.
* Conventional open pit mining with a low strip ratio of 1.4.
* NPV (8%) of $2.0 billion and IRR of 21% (after-tax), at US$4.25/lb copper,
US$2,400/oz gold and US$28.00/oz silver.
* Over the first five years of the mine life, grade is expected to average
0.32% copper, producing an average of 206 million pounds of copper at total
cash costs (C1) of US$1.62 per pound.
* Life of mine site operating costs of $12.89/tonne milled.
* Initial capital costs of $2.0 billion with a payback period of 3.3 years.
* Expected to be eligible for the federal Canadian Clean Technology
Manufacturing Investment Tax Credit, with 30% (~$540 million) of eligible
initial capital costs reimbursed in year one of operation.
* Total life of mine production of 4.4 billion pounds of copper, 282 thousand
ounces of gold and 19.4 million ounces of silver.
The Yellowhead Project is located in central British Columbia, approximately
300 km southeast of the Company’s Gibraltar Mine and 150 km north of
Kamloops, BC, a regional mining hub and home to many suppliers, consultants
and contractors which service the mining industry. The Project benefits from
excellent transportation infrastructure as a major highway passes 8 km north
of the site, and the Company owns a rail siding nearby which provides easy
access to the CN Rail transcontinental line.

Mining operations will be conducted from a single open pit using conventional
truck and shovel mining techniques. The Yellowhead Project’s process
flowsheet consists of a conventional SAG and ball milling circuit, followed by
rougher flotation, regrinding of rougher concentrate, and a three-stage
cleaner flotation circuit. Chalcopyrite is the dominant copper bearing mineral
across the deposit, comprising more than 98% of the copper contained in the
mineral reserves.

The Project would create significant economic activity to benefit surrounding
communities, the Province of BC and Canada. In operation, Yellowhead would
support about 590 direct jobs and approximately 1,120 indirect and induced
jobs in the area. Total tax payments to the Provincial and Federal governments
over the 25-year mine life are estimated at $3.2 billion.

Initial capital costs of $2.0 billion are estimated based on budgetary quotes
for equipment and current pricing for materials, labour and services in
British Columbia and reflect a pre-feasibility level of engineering and
appropriate contingencies. The Project is also expected to benefit from the
Canadian Federal Clean Technology Manufacturing (CTM) Investment Tax Credit
for critical mineral extraction projects. This would result in approximately
$540 million of investment tax credits, refundable to Taseko in year one of
operation.

Operating cost estimates are based on a combination of vendor supplied quotes
and Taseko’s experience operating the Gibraltar Mine which uses similar
mining and processing methods.

In addition to updated project costing and new tax rules, other changes from
the 2020 technical report include updated long-term metal prices to reflect
current market consensus, and a new transmission line design to supply power
to site.

The following is a summary of the key economic results:

                                                                      2025 Technical      2020 Technical      
                                                                      Report              Report              
 Copper Price (US$/lb)                                                $4.25               $3.10               
 Life of Mine (Years)                                                 25                  25                  
 Site operating costs (per tonne milled)                              $12.89              $9.97               
 Average Annual Copper Production, First Five Years (million pounds)  206                 206                 
 Total Cash Costs (C1), First Five Years (US$/lb)                     $1.62               $1.43               
 Average Annual Copper Production, Life of Mine (million pounds)      178                 178                 
 Total Cash Costs (C1), Life of Mine (US$/lb)                         $1.90               $1.67               
 Initial Capital Costs (C$ billions)                                  $2.0                $1.3                
 Total Project Free Cashflow, after-tax (C$ billions)                 $10.1               $5.3                
 NPV, after-tax (8%) (C$ billions)                                    $2.0                $0.7                
 IRR, after-tax                                                       21%                 14%                 
 Capital payback, after-tax (years)                                   3.3                 4.6                 

Permitting and Next Steps

With the recent acceptance of the initial project description, the Project has
formally commenced the Provincial and Federal environmental assessment
processes. The Project is also subject to the Simpcw First Nation’s
assessment process which is in its initial phases. The Company’s recent
focus has been on community engagement, and a significant amount of technical
and environmental studies have also been completed. Additional environmental
baseline studies, site investigation, modelling, engineering studies and
community engagement will be required over the next few years to support
Project permitting initiatives.

For further information on Taseko, see the Company’s website at
tasekomines.com or contact:
* Investor enquiries Brian Bergot, Vice President, Investor Relations –
778-373-4554
* Media enquiries Sean Magee, Vice President, Corporate Affairs –
778-373-4543
Stuart McDonald
President and CEO

Yellowhead Mineral Reserves

 Yellowhead Project Reserves Effective June 1, 2025 At 0.17% Copper Cut-off 
 Category  Tonnes       Cu (%)  Au (gpt)  Ag (gpt)  Cu Eq.* (%)  
           (Millions)                                            
 Proven    458          0.29    0.031     1.3       0.30         
 Probable  359          0.26    0.028     1.2       0.28         
 Total     817          0.28    0.030     1.3       0.29         

Notes:
1. Mineral Reserves follow CIM Definition Standards for Mineral Resources and
Mineral Reserves (2014).
2. Mineral Reserves are contained within Mineral Resources.
3. Mineral Reserves are assumed to be extracted using open pit mining methods
and are based on the following assumption: Metal prices of US$2.85/lb Cu,
US$1,610/oz Au and US$18.75/oz Ag; a foreign exchange rate of C$1.30 :
US$1.00; average metal recoveries of 90% for copper, 36% for gold and 59% for
silver; combined processing, G&A and water treatment costs of C$7.40/t milled;
pit-rim mining costs of C$2.33/t of overburden, C$2.28/t of non-PAG waste,
C$2.79/t of PAG waste and C$2.07/t of ore with a bench increment of C$0.035/t
mined per bench and sustaining capital allowance of C$0.20/t mined; average
offsite costs of C$0.48/lb of copper; payable metal terms of 96.1% for copper,
90% for gold and 90% for silver; and overall pit slopes of 30 to 40 degrees.
4. Bulk density is estimated by lithology and ranges between 2.71 and 2.85 in
rock and 2.2 in overburden.
5. Copper equivalency is based on US$4.25/lb price and 90% metallurgical
recovery for copper, US$2,400/oz and 36% metallurgical recovery for gold, and
US$28.00/oz and 59% metallurgical recovery for silver. CuEq can be calculated
using the formula CuEq% = Cu% + Au(gpt) × 0.3351 + Ag(gpt) × 0.006331.
6. Numbers may not add due to rounding.
Yellowhead Mineral Resource Estimate

 Yellowhead Project Resources Effective June 1, 2025 At 0.15% Copper Cut-off 
 Classification          Tonnes (Millions)  Cu (%)  Au (gpt)  Ag (gpt)  
 Measured                561                0.27    0.029     1.2       
 Indicated               735                0.24    0.027     1.2       
 Measured and Indicated  1,296              0.25    0.028     1.2       
 Inferred                111                0.24    0.026     1.2       

Notes:
1. Mineral Resources follow CIM Definition Standards for Mineral Resources and
Mineral Reserves (2014).
2. Mineral Resources are reported inclusive of Mineral Reserves.
3. Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability.
4. The Mineral Resource has been confined by a Lerchs-Grossman pit
optimization to meet “reasonable prospects of eventual economic
extraction” using the following assumptions: Metal prices of US$4.25/lb Cu,
US$2,400/oz Au and US$28.00/oz Ag; a foreign exchange rate of C$1.30 :
US$1.00; average metal recoveries of 89% for copper, 35% for gold and 59% for
silver; combined processing and G&A costs of C$7.40/t milled; and pit-rim
mining cost of C$2.31/t mined with a bench increment of C$0.035/t mined.
5. Bulk density is estimated by lithology and ranges between 2.71 t/m3 and
2.85 t/m3 in rock and 2.2 t/m3 in overburden.
6. Numbers may not add due to rounding.
Qualified Persons and 43-101 Disclosure

The technical content of this news release has been reviewed and approved by
Richard Weymark, P.Eng., MBA. The Technical Report was prepared for Taseko
Mines Limited, a producing issuer, under the supervision of Richard Weymark,
P.Eng., MBA, Jeremy Guichon, P.Eng. and Adil Cheema, P.Eng. Mr. Weymark is
employed by the company as Vice President, Engineering, Mr. Guichon as
Director, Mine Engineering and Mr. Cheema as Director, Process Engineering.
All three are Qualified Persons as defined in National Instrument 43-101
Standards of Disclosure for Mineral Projects published by the Canadian
Securities Administrators. Yellowhead is a greenfield project which has
commenced the formal environmental assessment and permitting processes.

Additional information regarding data verification, exploration information,
known legal, political, environmental or other risks that could affect
development of the Yellowhead project or its mineral resources or reserves,
can be found in the Technical Report, which is available on SEDAR+.

No regulatory authority has approved or disapproved of the information
contained in this news release

Caution Regarding Forward-Looking Information

This document contains “forward-looking statements” that were based on
Taseko’s expectations, estimates and projections as of the dates as of which
those statements were made. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as “outlook”,
“anticipate”, “project”, “target”, “believe”, “estimate”,
“expect”, “intend”, “should” and similar expressions.

Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the Company’s actual results,
level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking statements. These included
but are not limited to:
* uncertainties about the future market price of copper and the other metals
that we produce or may seek to produce;
* changes in general economic conditions, the financial markets, inflation and
interest rates and in the demand and market price for our input costs, such as
diesel fuel, reagents, steel, concrete, electricity and other forms of energy,
mining equipment, and fluctuations in exchange rates, particularly with
respect to the value of the U.S. dollar and Canadian dollar, and the continued
availability of capital and financing;
* uncertainties about economic conditions generally including inflation
levels, tariffs, and in particular with respect to the demand for copper and
other metals we produce;
* uncertainties related to the accuracy of our estimates of Mineral Resources,
production rates and timing of production, future production and future cash
and total costs of production and milling;
* our ability to comply with the extensive governmental regulation to which
our business is subject;
* uncertainties related to our ability to obtain necessary title, licenses and
permits for our development projects and project delays due to third party
opposition;
* uncertainties related to First Nations claims and consultation issues;

* uncertainties related to unexpected judicial or regulatory proceedings;
* changes in, and the effects of, the laws, regulations and government
policies affecting our exploration and development activities and mining
operations and mine closure and bonding requirements;
* environmental issues and liabilities associated with mining;
* environmental hazards and risks associated with climate change, including
the potential for damage to infrastructure and stoppages of operations due to
forest fires, flooding, drought, or other natural events in the vicinity of
our operations;
* litigation risks and the inherent uncertainty of litigation;
* our actual costs of reclamation and mine closure may exceed our current
estimates of these liabilities;
* our ability to meet the financial reclamation security requirements;
* the capital intensive nature of our business both to sustain current mining
operations and to develop any new projects;
* our reliance upon key management and operating personnel;
* the competitive environment in which we operate;
* the risk of changes in accounting policies and methods we use to report our
financial condition, including uncertainties associated with critical
accounting assumptions and estimates; and Management Discussion and Analysis
(“MD&A”), quarterly reports and material change reports filed with and
furnished to securities regulators, and those risks which are discussed under
the heading “Risk Factors”.
For further information on Taseko, investors should review the Company’s
annual Form 40-F filing with the United States Securities and Exchange
Commission www.sec.gov and home jurisdiction filings that are available at
www.sedarplus.ca, including the “Risk Factors” included in our Annual
Information Form