Mr. Stuart McDonald reports

TASEKO MINES PROVIDES FINANCING UPDATE FOR FLORENCE COPPER

Taseko Mines Ltd. has provided an update on a number of recent financing initiatives.

On June 30, Taseko's corporate revolving credit facility was increased from $50-million (U.S.) to $80-million (U.S.). The accordion feature, which was added and announced in January, was fully underwritten and credit approved by ING Capital LLC which joins alongside the existing lender, National Bank. The corporate facility is available for general corporate purposes, including to support the capital needs of the Florence copper project. The credit facility matures in July, 2026, and is secured by first liens against Taseko's rights under the Gibraltar joint venture, as well as the shares of Gibraltar Mines Ltd., Curis Holdings (Canada) Ltd.,and Florence Holdings Inc., and contains customary covenants for a facility of this nature.

Also in late June, the company closed an additional silver stream sale to Osisko Gold Royalties for $10.25-million (U.S.) for its incremental 12.5-per-cent share of Gibraltar Mine that Taseko purchased in March of this year from Sojitz Corp. Taseko also extended the silver delivery threshold to coincide with the company's recently updated mineral reserve estimate.

Stuart McDonald, president and chief executive officer of Taseko, stated: "The permitting process at Florence copper is nearing an end and as we prepare for construction our focus is to ensure we have a strong balance sheet and a solid financing plan in place. We continue to evaluate construction financing proposals which will complement our current liquidity and the two transactions previously announced with Mitsui ($50-million (U.S.)) and Bank of America ($25-million (U.S.)). We have recently engaged Endeavour Financial to assist in executing on these financing initiatives and are confident that we can close the transactions needed to provide the capital for construction of the Florence copper commercial production facility.

"We have not issued any shares to-date under the $50-million (U.S.) at-the-market equity facility announced in May. This facility is an alternative financing option for Taseko but with no obligation for us to use."

We seek Safe Harbor.