Mr. Stuart McDonald reports

TASEKO PROVIDES CONSTRUCTION UPDATE ON FLORENCE COPPER PROJECT

Taseko Mines Ltd. has provided an update on the progress at its 100-per-cent-owned Florence copper project in Florence, Ariz.

As of Dec. 31, 2024, the overall project completion was at 56 per cent, and first copper production continues to be targeted before the end of 2025. Construction activities are advancing on schedule, and nearly 450,000 project hours have been worked with no reportable injuries or environmental incidents. Currently, there are approximately 290 construction and support personnel on site.

Summary of key activities in the fourth quarter:

• Process ponds and surface water runoff pond construction completed.
• Solvent extraction settler and launder modules placed, and welding of the modules has commenced.
• Seventeen production wells were fully constructed in the quarter, for a total of 51 wells out of 90 to be drilled during the construction phase.
• Development of the main pipe corridor (from well field to process plant) is mostly completed, and installation of high-density polyethylene piping in the corridor is continuing.
• Field erected process and service tank construction commenced.
• Mechanical and piping installations are under way throughout the SX/EW plant.
• Erection of structural steel for the solvent extraction pipe rack is nearing completion, and piping installation is under way.
• Electrical work commenced.
• Water treatment building was erected, and preparations have been made to start the electrowinning building erection.

Stuart McDonald, president and chief executive officer of Taseko, commented: "We are very pleased with the progress that has been made in the first 12 months of construction. The project remains on schedule, and construction costs remain in line with our previous guidance. We are now less than a year from anticipated first copper production and, in addition to construction activities, our site management team is focused on operational readiness, key vendor agreements and recruiting.

"With continued growth in U.S. [United States] copper demand and an increasing focus on security of supply chains for critical materials, it is great timing to be bringing on a new source of domestic copper supply. Florence Copper is the only greenfield copper mine currently under construction in the USA and will soon become the third-largest copper cathode producer in the country.

"We have recently been informed that our application for the Department of Energy's 48C(e) tax credit has been declined. However, Taseko remains in a strong financial position with $330-million of available liquidity at year-end, including the undrawn $110-million (U.S.) revolving credit facility."

We seek Safe Harbor.