REG-Taseko Mines Limited: Permit for Florence Copper Project

Taseko MinesAnnouncement

04/08/2020 13:05

Taseko Mines: Draft Aquifer Protection Permit for Florence Copper Project to
be Issued this Week

VANCOUVER, BC, Aug. 4, 2020 - Taseko Mines Limited (TSX: TKO) (NYSE American:
TGB) (LSE: TKO) ("Taseko" or the "Company") has been informed by the Arizona
Department of Environmental Quality ("ADEQ") that the draft Aquifer Protection
Permit ("APP") for the Florence Copper commercial production facility will be
issued on Thursday, August 6, 2020. The APP is one of two key permits required
to advance the project to commercial production.

Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented,
"The issuance of this important permit is a confirmation by the state
regulator that the Florence Copper in-situ mining process is environmentally
safe. We have proven this over the past 18 months while operating the test
facility within all the stringent conditions set out in the current permit. We
fully expect that following the 30-day public comment period, the ADEQ will be
positioned to quickly issue the final permit."

"From an operational perspective, we have completed a full evaluation of the
data collected from the test wellfield over the last 18 months of operations.
The test facility has successfully demonstrated our ability to produce
high-quality copper cathode, within the stringent environmental guidelines of
our permits, and has confirmed the project economics."

"Many of the modelled assumptions have been validated and we have used the
data to develop strategies for solution chemistry, flow rates, reverse flow
and the use of well packers for targeting solution flows. The hydrogeological
model has been updated using the data collected over the past 18 months and is
being used to refine our operating plan for the commercial phase." continued
Mr. Hallbauer.

"With all of the required data in hand, we recently made the decision to wind
down the production phase of the test facility and commence with rinsing the
small section of the orebody where the wellfield has been operating. Timing of
these activities are expected to mesh well with the overall project timeline
and will provide our operating team with additional site specific experience,"
added Mr. Hallbauer. 

Russell Hallbauer
Chief Executive Officer and Director

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.

Cautionary Statement on Forward-Looking Information

This discussion includes certain statements that may be deemed
"forward-looking statements".  All statements in this discussion, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities, and events or
developments that the Company expects are forward-looking statements. 
Although we believe the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements.  Factors that could
cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes,
continued availability of capital and financing and general economic, market
or business conditions.  Investors are cautioned that any such statements are
not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements. 
All of the forward-looking statements made in this MD&A are qualified by these
cautionary statements.  We disclaim any intention or obligation to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except to the extent required by applicable law. 
Further information concerning risks and uncertainties associated with these
forward-looking statements and our business may be found in our most recent
Form 40-F/Annual Information Form on file with the SEC and Canadian provincial
securities regulatory authorities.

SOURCE  Taseko Mines Limited

CONTACT: 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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