TASEKO COMMENTS ON MARKET VOLATILITY
July 1, 2010, Vancouver BC - Taseko Mines Limited
(TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company")
is issuing this release to confirm that it is not aware of any material undisclosed
corporate developments which would account for recent share price volatility.
Russell Hallbauer, President and CEO of Taseko commented, "The disclosure
posted on the Canadian Environmental Assessment Agency's website on June
29, stating that the Panel's report would be released after market close
on July 2, should not be construed as either positive or negative. Once the
Panel's findings and recommendations have been made public, Taseko will
respond accordingly."
For further information on Taseko, please see the Company's website www.tasekomines.com
or contact: Brian Bergot, Investor Relations - 778-373-4545, Toll Free
1-800-667-2114.
No regulatory authority has approved or disapproved of the information contained
in this news release.
CAUTION
REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based
on Taseko's expectations, estimates and projections as of the dates as
of which those statements were made. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as "outlook",
"anticipate", "project", "target", "believe",
"estimate", "expect", "intend", "should" and
similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties
and other factors that may cause the Company's actual results, level of
activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. These included but
are not limited to:
• uncertainties
and costs related to the Company's exploration and development activities,
such as those associated with continuity of mineralization or determining
whether mineral resources or reserves exist on a property;
• uncertainties
related to the accuracy of our estimates of mineral reserves, mineral resources,
production rates and timing of production, future production and future cash
and total costs of production and milling;
• uncertainties
related to feasibility studies that provide estimates of expected or anticipated
costs, expenditures and economic returns from a mining project;
• uncertainties
related to our ability to complete the mill upgrade on time estimated and
at the scheduled cost;
• uncertainties
related to the ability to obtain necessary licenses permits for development
projects and project delays due to third party opposition;
• uncertainties
related to unexpected judicial or regulatory proceedings;
• changes in,
and the effects of, the laws, regulations and government policies affecting
our exploration and development activities and mining operations, particularly
laws, regulations and policies;
• changes in general
economic conditions, the financial markets and in the demand and market price
for copper, gold and other minerals and commodities, such as diesel fuel,
steel, concrete, electricity and other forms of energy, mining equipment,
and fluctuations in exchange rates, particularly with respect to the value
of the U.S. dollar and Canadian dollar, and the continued availability of
capital and financing;
• the effects
of forward selling instruments to protect against fluctuations in copper prices
and exchange rate movements and the risks of counterparty defaults, and mark
to market risk;
• the risk of
inadequate insurance or inability to obtain insurance to cover mining risks;
• the risk of
loss of key employees; the risk of changes in accounting policies and methods
we use to report our financial condition, including uncertainties associated
with critical accounting assumptions and estimates;
• environmental
issues and liabilities associated with mining including processing and stock
piling ore; and
• labour strikes,
work stoppages, or other interruptions to, or difficulties in, the employment
of labour in markets in which we operate mines, or environmental hazards,
industrial accidents or other events or occurrences, including third party
interference that interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the Company's
annual Form 40-F filing with the United States Securities and Exchange Commission
www.sec.com and home jurisdiction filings that are available at www.sedar.com.