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Last updated on April 23, 2014 at 12:22 EDT

Taseko Commences Judicial Review Application

December 2, 2013

VANCOUVER, Dec. 2, 2013 /PRNewswire/ – Taseko (TSX: TKO) (NYSE MKT: TGB) (the
“Company”) has commenced a federal judicial review, seeking to set
aside certain findings of a review panel report relating to the
Company’s New Prosperity Gold-Copper Project environmental assessment.

Taseko is asking the court for a declaration that certain panel findings
relating to seepage and water quality be set aside, and that the Panel
failed in certain respects to comply with principles of procedural
fairness.

The judicial review will address the question of whether Natural
Resources Canada (“NRCan”) – and in turn the panel – made a fundamental
error when determining expected seepage rates from the tailings storage
facility. Taseko believes the evidence is clear that NRCan failed to
account for a liner that would be part of the tailings storage facility
– thus modeling the wrong project design and assuming water would seep
into open ground.

The Canadian Environmental Assessment Agency (“CEAA”) requested Taseko’s
response to several questions regarding this matter and the Company has
provided that information in letters dated November 8 and November 15,
2013 to the Minister of Environment and to CEAA respectively which are
publicly available.

“Taseko had no choice but to file this application in order to comply
with a 30 day time limit,” said Taseko President and CEO Russell
Hallbauer. “But we remain of the view that the federal government
should allow the project to proceed to the next stage of detailed
permit-level examination and if so the judicial review would not need
to proceed,” added Mr. Hallbauer.

The panel found that the project was not likely to have significant
adverse effects in approximately 30 different areas including human
health, salmon habitat and wildlife. Those findings are not being
challenged.

A copy of the application to the Federal Court and the November 8 and
15, 2013 letters to the Minister of Environmental are available at
Taseko’s website: www.tasekomines.com

Russell Hallbauer

President and CEO

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 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.gov and home jurisdiction filings that are available at www.sedar.com.

SOURCE Taseko Mines Limited


Source: PR Newswire