Mr. Stuart McDonald reports

TASEKO PROVIDES UPDATE ON FLORENCE COPPER RAMP-UP AND GIBRALTAR 2025 PRODUCTION RESULTS

Taseko Mines Ltd. has updated its progress at Florence copper and has released 2025 production results for the Gibraltar mine.

Construction activity at Florence copper is complete, and the focus has shifted to well field operations and commissioning of the solvent extraction and electrowinning plant. Well field acidification commenced in early November, and, in early December, mining solutions were circulating in all the new production wells within the commercial well field. Injection flow rates in the well field have met or exceeded expectations to date, resulting in faster initial acidification of the well field. The grade of copper recovered in solution from the recovery wells has continued to increase, and the average solution grade has reached the level required for SX/EW plant operations. Commissioning of the SX/EW plant area has been advancing without any significant issues, and plant operations are expected to commence shortly.

Well field drilling has also recommenced with three drill rigs currently operating on site. Continued expansion of the commercial well field will support higher solution flows and increased copper production for the ramp-up this year.

Stuart McDonald, president and chief executive officer of Taseko, commented: "The transition from construction to early-stage operations at Florence has gone smoothly, and we are very pleased with the initial copper recoveries and performance of the commercial well field. Our project team is focused on the successful start-up of the SX/EW plant in the coming days, followed by first copper cathode production within a few weeks."

At Gibraltar, copper and molybdenum production for the 2025 year was 98 million pounds and 1.9 million pounds, respectively. Sales for the year were 99 million pounds of copper and 1.9 million pounds of molybdenum. Fourth quarter copper production was 31 million pounds of copper, a significant increase over the previous quarters of 2025. Copper head grade for the quarter increased to 0.26 per cent, in line with management expectations, and recoveries were 81 per cent. Production in the fourth quarter was impacted by unanticipated mill downtime, due to unscheduled maintenance activities and a serious accident, which resulted in a temporary site-wide shutdown in November. Molybdenum production in the quarter was 800,000 pounds, approximately 50 per cent higher than the third quarter and the best quarterly production in eight years. Gibraltar's SX/EW plant produced 900,000 pounds of copper cathode in the fourth quarter and continues to operate.

"Gibraltar production in the second half of the year was a notable improvement over the first half of the year with higher grades and better-quality ore. Looking ahead to 2026, we expect more consistent quarterly production, now that we are better situated in the Connector pit, and higher overall copper production," added Mr. McDonald.

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