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.

At the end of June, construction of the commercial production facility was over 90 per cent complete and the project remains on schedule for first copper cathode production before the end of this year. Over 900,000 project hours have been worked with no reportable injuries or environmental incidents on the project to date. Currently, there are approximately 330 construction and support personnel on site, down from the peak levels in the first quarter.

Stuart McDonald, president and chief executive officer of Taseko, commented: "The first 18 months of construction has gone exceptionally well, demonstrating the quality and experience of our on-site owner's team and contractors. Construction activities are advancing on plan and project areas will soon start the transition to commissioning. A few notable milestones have recently been achieved. In the wellfield, all the injection and recovery wells planned for the construction phase have now been drilled and completed. Drilling will recommence after plant commissioning to expand the current wellfield and allow for copper production to ramp up to the full 85-million-pound-per-year plant capacity. Also, last week, a key component of the site infrastructure was completed with APS (the local utility) energizing the site 69-kilovolt electrical substation."

"Operational readiness remains a key focus for site management. Hiring full-time staff, training and developing operational workflows are all ongoing to ensure our team is well positioned for commercial operations in just a few months. A detailed operating plan for the 2026 ramp-up is also being developed and will be finalized after acidification of the wellfield commences in the fall."

"Florence Copper will be the next major U.S. supplier of domestically produced copper cathode. The potential for 50-per-cent tariffs on copper imports into the United States has driven the Comex copper price to record levels in recent weeks. It's a great time to be bringing on a new U.S.-based copper mine and a high Comex copper price premium would provide a further boost to Florence copper's already strong project economics," concluded Mr. McDonald.

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