Mr. Stuart McDonald reports

TASEKO UPDATES FLORENCE COPPER AND GIBRALTAR FIRST QUARTER PRODUCTION

Taseko Mines Ltd. has provided an operational update and first quarter production results for Florence copper and the Gibraltar mine.

As previously announced, the Florence copper SX/EW (solvent extraction and electrowinning) plant commenced operations in mid-February and first copper cathodes were harvested at the end of February. For the first quarter, a total of 1.5 million pounds of copper cathode was produced. Solutions have been flowing in the wellfield since late 2025, and initial copper leaching and production are in line with expectations, based on Taseko's modelling. The recent operational focus has been on balancing solution flow and grades from the wellfield through to cathode production.

Stuart McDonald, president and chief executive officer of Taseko, commented: "We are happy with the results from the first months of in situ copper production at Florence. With the successful start-up behind us, the focus is turning to the production ramp-up. Additional newly constructed wells are now being integrated into the system, which will allow for higher solution flows and copper production in the coming weeks. Wellfield expansion continues, with four drills currently operating and a fifth expected to commence shortly."

Gibraltar produced a total of 30.0 million pounds of copper and 717,000 pounds of molybdenum in the first quarter, a 50-per-cent and 113-per-cent increase over the same period in 2025. Copper grades in the quarter were in line with the life-of-mine average grade and recoveries improved to 83 per cent. Copper sales in the first quarter were 27 million pounds, slightly lower than production due to shipment timing.

"It was a solid quarter at Gibraltar and operating results were generally in line with our expectations. Production included 733,000 pounds of copper cathode from the Gibraltar SX/EW plant, which operated continuously through the winter months," added Mr. McDonald.

"Despite recent global events, copper markets have remained very strong and the average LME copper price in the first quarter was 16 per cent higher than the previous quarter. Diesel prices have also increased and, at current levels, would increase Gibraltar operating costs by approximately 10 U.S. cents to 15 U.S. cents per pound this year. At Florence copper, we have a fixed price contract in place for all sulphuric acid requirements in 2026, so do not expect any impact from recent inflationary pressure and global supply chain issues. Over all, we continue to anticipate strong financial performance from steady Gibraltar production and growing production from Florence copper."

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