Taseko Mines: Florence Copper Permitting Update

Rhea-AI Summary

Taseko Mines Limited (TGB) announced strong community support for its Florence Copper Project during a recent public hearing held by the Arizona Department of Environmental Quality (ADEQ). Out of 30 speakers, only one opposed the project, indicating extensive backing from local stakeholders. Taseko has emphasized the environmental safeguards and benefits of its copper extraction process, proven effective over 18 months of testing. The ADEQ will accept public comments until October 12 before finalizing the Aquifer Protection Permit.

Positive

• Strong community support with 29 out of 30 speakers in favor at the public hearing.
• Demonstrated environmental benefits of the copper extraction process based on 18 months of operating the test facility.

Negative

• None.

VANCOUVER, BC, Sept. 22, 2020 /PRNewswire/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that its Florence Copper Project received overwhelming support at the public hearing held by the Arizona Department of Environmental Quality ("ADEQ"). The public hearing, which is a key part of the process for the Aquifer Protection Permit ("APP"), had participation from local community members, local business owners, elected state officials and city councilors, a state senator as well as representatives from the technical services sector.

Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, "30 interested parties spoke at the hearing, communicating great support for the Company and the project, with only one individual not in favour. The ADEQ heard loud and clear that the community wants this project to advance to commercial operation."

"The Company has worked very hard to inform the Florence community on not only the safeguards in place to ensure the environmental integrity of the project, but also the environmental benefits of the Florence Copper extraction process. The extensive data collected from 18 months of operating the test facility is proof that the process works, both from a technical perspective as well as environmentally," continued Mr. Hallbauer.

The ADEQ will take written correspondence for another three weeks, until October 12, before writing and issuing the final permit.

The Company recently produced a promotional video about the Florence Copper Project which highlights the benefits of the project and describes the in-situ copper recovery process. The video can be accessed at  http://bit.ly/TasekoTalks_AProvenSuccess.

Russell Hallbauer
Chief Executive Officer and Director

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 about the effect of COVID-19 and the response of local, provincial, federal and international governments to the threat of COVID-19 on our operations (including our suppliers, customers, supply chain, employees and contractors) and economic conditions generally and in particular with respect to the demand for copper and other metals we produce;
• 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, including the "Risk Factors" included in our Annual Information Form.

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SOURCE Taseko Mines Limited

FAQ

What recent event indicated strong support for Taseko Mines' Florence Copper Project?

A public hearing by the Arizona Department of Environmental Quality showed 29 out of 30 speakers supported the project.

What is the next step in the permitting process for Taseko Mines' Florence Copper Project?

The ADEQ will accept written comments until October 12 before issuing the final Aquifer Protection Permit.

What are the environmental benefits of the Florence Copper extraction process?

The extraction process has been proven effective and environmentally safe based on extensive data from 18 months of operation.