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Taseko and Indigenous Nation Sign Framework Agreement to Start Discussions on Yellowhead Project

Press Release

May 26, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to announce it has entered into an Agreement with an Indigenous Nation regarding Taseko’s intentions to commence the regulatory approval process of the Yellowhead Copper Project (“Project”).

The agreement represents Taseko’s commitment to recognize and respect the Nation’s inherent right to govern its lands, and the importance of assessing the Project in accordance with its values, laws, and community aspirations to make an informed decision on the Project.

Russell Hallbauer, CEO of Taseko, commented, “We are pleased to have come to an agreement to move forward with open discussions. Our communication with the leadership over this past year have been good, frank and insightful. We have gained significantly in our understanding of their role as caretakers of the lands and their approach to stewardship and economic opportunity, and we thank them for taking this first important step with us.”

“Taseko is confident that a robust environmental assessment of Yellowhead, one which takes into consideration the full array of factors important to indigenous people and communities from Kamloops to Blue River, will result in a favorable regulatory decision. Advancing this project now is especially timely given the economic and human needs of the region and the province. Construction and operation of a long life mine will significantly elevate opportunities for the people of this area for decades into the future,” concluded Mr. Hallbauer.

NOTE: Yellowhead has the potential to be one of the largest open pit copper mines in North America. The project is in the Thompson‐Nicola area of British Columbia, approximately 150km north‐east of Kamloops near Vavenby. The project includes a 90,000 tonne-per-day open pit copper mine with a 25-year mine life. The Yellowhead Project increases Taseko’s pipeline of global reserves to approximately 15 billion pounds of contained copper. With a significant amount of technical and environmental assessment work already completed, including a 2020 Technical Report, Taseko can advance the project with internal resources and minimal capital expenditures for the next few years.

For further information on Taseko, please visit the Taseko website at www.tasekomines.com or contact:

Brian Bergot, Vice President, Investor Relations – 778-373-4533 or toll free 1-877-441-4533

For more information on the Yellowhead Project please visit www.tasekomines.com

Russell Hallbauer
Chief Executive Officer and Director

IBF5

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