Mr. Stuart McDonald reports

TASEKO RELEASES ECONOMIC IMPACT STUDY FOR GIBRALTAR COPPER MINE

Taseko Mines Ltd. has released the findings of a comprehensive study of the economic contributions of its Gibraltar copper mine, located in central British Columbia.

The study examines Gibraltar's significant contribution to the economies of the Cariboo region, B.C. and Canada since Taseko restarted the open-pit copper mining operation in late 2004. In addition, the study forecasts Gibraltar's economic impacts for the next 20 years, through its current remaining reserve life to 2044.

Prepared by MNP, a leading Canadian accounting and consulting firm, the study employs an input-output model with multipliers published by Statistics Canada to quantify Gibraltar's direct, indirect and induced economic effects for the periods 2005 to 2023 and 2024 to 2044.

Study highlights include:

• An economic driver: Since 2004, Gibraltar has generated total economic output in Canada of $16.3-billion and value-added GDP (gross domestic product) of $8.3-billion. More than half of this economic activity occurred in B.C.'s Cariboo region ($10.1-billion and $5.0-billion, respectively).
  • When combined with the next 20 years of operations, Gibraltar's cumulative projected economic impact in Canada through 2044 is forecast to be $41.9-billion in output and $21.2-billion in value-added GDP, including $26.7-billion and $13.1-billion, respectively,in the Cariboo region.
• Cornerstone of regional employment: Currently, the Gibraltar mine employs approximately 700 workers and supports a total of 2,860 full-time jobs (including indirect and induced employment). Over the past 20 years, B.C.'s Cariboo region has benefited most from Gibraltar-supported jobs, hosting almost all of the direct jobs and about half of total employment.
  • Mining jobs in Canada are well paid; the Mining Association of B.C. estimates an annual average salary for B.C. mine workers of nearly $139,000. Gibraltar employees represent about 2.7 per cent of total employment in the Cariboo region but 15.5 per cent of the region's employment income. Since 2005, economic activity from Gibraltar has generated cumulative employment income of more than $4-billion.
• Revenues for governments: Since 2004, Gibraltar has been an important direct contributor and catalyst for government revenues at the local, provincial and national levels, supporting vital programs and services that benefit all Canadians. Total government revenues generated by the mine for all three levels of government were $2.0-billion for the period 2005 to 2023.
  • Over the coming 20 years, Gibraltar is forecast to generate an additional $3.1-billion in taxes in Canada, for a cumulative total of more than $5-billion.
• Critical minerals production in Canada: Gibraltar is the second-largest open-pit copper mine in Canada, with average annual life-of-mine production of 129 million pounds of copper. Copper is a key element in a wide range of energy technologies and is designated as a critical mineral by the governments of B.C., Canada and the United States.
  • Since Taseko restarted operations at Gibraltar in 2004, the mine has produced 1.9 billion pounds of copper in concentrate and is forecast to produce an additional 2.7 billion pounds through 2044. The cumulative total of 4.6 billion pounds of copper forecast to be produced at Gibraltar from 2004 to 2044 is equivalent to the copper required to manufacture approximately 25 million electric vehicles (EV).

Stuart McDonald, Taseko's president and chief executive officer, commented: "The Gibraltar mine has been a cornerstone of economic growth, prosperity and community development in the Cariboo for more than two decades, and will continue to provide career opportunities and family-supporting employment for years to come. We are very proud of the economic contributions our business activities support in the Cariboo region and throughout British Columbia.

"Our North American copper business is poised for significant near-term growth. In late 2025, we expect to complete construction and initiate production at the Florence copper project in Arizona, and our Yellowhead copper project in south-central B.C. represents another major mine development opportunity. We look forward to building on the tremendous economic legacy that Gibraltar has established over the past 20 years."

To view the full report, visit the company's website.

We seek Safe Harbor.