REG-Taseko Mines Limited: Taseko Provides Gibraltar Mine & Florence Copper Update

Taseko MinesAnnouncement

08/07/2021 13:30

Taseko Mines Reports Improving Production at Gibraltar Mine and Florence
Project Update

Vancouver, BC, July 8, 2021 - Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB)
(LSE: TKO) ("Taseko" or the "Company") is pleased to announce that the
Gibraltar Mine produced 27 million pounds of copper and 400 thousand pounds
of molybdenum in the second quarter of 2021.  In June, mining operations
transitioned into higher-grade benches in the Pollyanna Pit which resulted in
a 20% increase in copper production over the first quarter, in line with
management expectations.

Stuart McDonald, President and CEO of Taseko, commented, "We continue to
expect strong copper production in the second half of the year, which in the
current price environment will lead to robust cashflows. Copper prices
remained strong over the second quarter, and the average LME price of US$4.40
per pound is the highest ever for a quarterly period.  We took advantage of
the strong market conditions to extend our price protection program through
the acquisition of copper collars.  These contracts secure a minimum copper
price of US$4.00 per pound and a ceiling price of US$5.60 per pound for 42
million pounds of copper over the first half of 2022.  This supplements the
existing put option protection that we have in place for the second half of
2021 and ensures that Gibraltar will be generating strong cashflows during
construction of the Florence Copper commercial facility."

"Detailed engineering and procurement activities continue to advance at
Florence.  We are now preparing to make initial deposits for major processing
equipment associated with the SX-EW plant, which will allow us to efficiently
advance construction activities upon receipt of the final permit.  We
continue to have regular dialogue with the EPA and, based on the latest
communication, now expect they will issue the draft UIC permit towards the end
of the third quarter.  Although that timing is later than previously
expected, our understanding is there are no issues and that the agency just
needs additional time to complete its internal reviews of the permit,"
concluded Mr. McDonald. 

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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