REG-Taseko Mines Limited: Taseko Announces US$50 Million Revolving Credit Facility

Taseko MinesAnnouncement

05/10/2021 14:05

Taseko Mines Announces New US$50 Million Revolving Credit Facility and Update
on Florence Copper Permitting

VANCOUVER, BC, Oct. 5, 2021 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE MKT:
TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that it has
signed a US$50 million Revolving Credit Facility (the "Facility"). The
Facility, which is arranged and fully underwritten by National Bank of Canada,
will be available for working capital and general corporate purposes.

Stuart McDonald, President and CEO of Taseko, commented, "At current copper
prices, we expect to fully fund construction of the Florence Copper Project
with cashflow from Gibraltar operations and our existing cash balance. While
we have no intention of drawing any funds from the new Facility on closing, it
will further improve our already strong balance sheet and provide us with
additional flexibility as we advance Florence towards production, making it
America's newest source of low-carbon copper."

Additionally, the U.S. Environmental Protection Agency ("EPA") has advised
Taseko that it intends to send a draft Underground Injection Control ("UIC")
permit to the Company in mid-October and provide the Company with a two-week
review period before the draft permit is formally issued, commencing the
public comment period.

Mr. McDonald continued, "The UIC permit is the final permitting step required
prior to construction of Florence Copper, and the EPA continues to make
progress towards finalizing the permit with no significant issues raised
to-date. Receipt of the draft permit will represent another significant step
towards Florence Copper being fully permitted and ready for construction."

About the Revolving Credit Facility

The Facility has an initial tenor of 42 months and is extendable annually
thereafter.  The Facility will be secured by a first lien charge against
Taseko's rights under the Gibraltar Joint Venture as well as its shares of
Gibraltar Mines Ltd., Curis Holdings (Canada) Ltd., and Florence Holdings Inc.
The Facility includes financial and other covenants commensurate with a
corporate revolving credit facility of this nature. The Facility is expected
to close this week upon satisfaction of customary closing conditions. A copy
of the Facility agreement will be available on the SEDAR website
(www.sedar.com).

Stuart McDonald
President and CEO

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 effect of COVID-19 and the response of local,
provincial, federal and international governments to the threat of COVID-19 on
our operations (including our suppliers, customers, supply chain, employees
and contractors) and economic conditions generally and in particular with
respect to the demand for copper and other metals we produce;
* uncertainties and costs related to the Company's exploration and development
activities, such as those associated with continuity of mineralization or
determining whether mineral resources or reserves exist on a property;
* uncertainties related to the accuracy of our estimates of mineral reserves,
mineral resources, production rates and timing of production, future
production and future cash and total costs of production and milling;
* uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a mining
project;
* uncertainties related to the ability to obtain necessary licenses permits
for development projects and project delays due to third party opposition;
* 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, particularly laws, regulations and policies;
* changes in general economic conditions, the financial markets and in the
demand and market price for copper, gold and other minerals and commodities,
such as diesel fuel, 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;
* the effects of forward selling instruments to protect against fluctuations
in copper prices and exchange rate movements and the risks of counterparty
defaults, and mark to market risk;
* the risk of inadequate insurance or inability to obtain insurance to cover
mining risks;
* the risk of loss of key employees; 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;
* environmental issues and liabilities associated with mining including
processing and stock piling ore; and
* labour strikes, work stoppages, or other interruptions to, or difficulties
in, the employment of labour in markets in which we operate mines, or
environmental hazards, industrial accidents or other events or occurrences,
including third party interference that interrupt the production of minerals
in our mines.
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.sedar.com, including the "Risk Factors" included in our Annual Information
Form.

on Taseko, please visit the Taseko website at www.tasekomines.com or contact:
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free
1-877-441-4533



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