Accounts managed by RS Investment Management Co. LLC acquire common shares of Taseko Mines Ltd.

SAN FRANCISCO, Nov. 9, 2012 /CNW/ - On May 13, 2011, accounts (the "RS Accounts") managed by RS Investment Management Co. LLC ("RS") acquired 308,300 common shares of Taseko Mines Ltd. ("Taseko Shares"), representing approximately 0.16% of the outstanding Taseko Shares on that date.  These acquisitions of Taseko Shares were made through the facilities of the New York Stock Exchange ("NYSE").  After giving effect to these acquisitions, RS, the manager of the RS Accounts, had control or direction over 19,136,130 Taseko Shares, representing approximately 10.12% of the outstanding Taseko Shares as at May 13, 2011.

From May 16, 2011 through July 20, 2011, the RS Accounts acquired an additional 4,795,233 Taseko Shares, representing approximately 2.46% of the outstanding Taseko Shares as at July 20, 2011.  These acquisitions were made through the facilities of the NYSE.  After giving effect to these acquisitions, RS had control or direction over 23,931,363 Taseko Shares, representing approximately 12.26% of the outstanding Taseko Shares as at July 20, 2011.

From July 21, 2011 through August 23, 2011, the RS Accounts acquired an additional 3,954,432 Taseko Shares, representing approximately 2.02% of the outstanding Taseko Shares as at August 23, 2011.  These acquisitions were made through the facilities of the NYSE.  After giving effect to these acquisitions, RS had control or direction over 27,885,795 Taseko Shares, representing approximately 14.28% of the outstanding Taseko Shares as at August 23, 2011.

From August 24, 2011 through August 7, 2012, the RS Accounts acquired an additional 3,905,918 Taseko Shares, representing approximately 2.04% of the outstanding Taseko Shares as at August 7, 2012.  These acquisitions were made through the facilities of the NYSE.  After giving effect to these acquisitions, RS had control or direction over 31,791,713 Taseko Shares, representing approximately 16.64% of the outstanding Taseko Shares as at August 7, 2012.

From August 8, 2012 through November 9, 2012, the RS Accounts acquired an additional 78,960 Taseko Shares, representing approximately 0.04% of the outstanding Taseko Shares as at November 9, 2012.  These acquisitions were made through the facilities of the NYSE.  After giving effect to these acquisitions, RS had control or direction over 31,870,637 Taseko Shares, representing approximately 16.72% of the outstanding Taseko Shares as at November 9, 2012.

RS has previously publicly disclosed transactions in Taseko Shares in accordance with the rules and regulations of the United States Securities and Exchange Commission (the "SEC").  These filings of Schedule 13G are available on the SEC website: www.sec.gov.

The Taseko Shares were acquired for investment purposes.  In the future, RS or the RS Accounts may, subject to applicable law, acquire additional Taseko Shares or dispose of Taseko Shares depending upon a number of factors, including general market and economic conditions and other available investment opportunities.

RS Global Natural Resources Fund ("GNR"), one of the RS Accounts, may be considered a joint actor of RS in connection with this early warning report.  On May 13, 2011, GNR was the beneficial owner of 16,030,439 Taseko Shares, representing approximately 8.48% of the outstanding Taseko Shares on that date.  On July 20, 2011, GNR was the beneficial owner of 20,148,037 Taseko Shares, representing approximately 10.32% of the outstanding Taseko Shares on that date.  On August 23, 2011, GNR was the beneficial owner of 22,821,310 Taseko Shares, representing approximately 11.68% of the outstanding Taseko Shares on that date.  On August 7, 2012, GNR was the beneficial owner of 23,960,835 Taseko Shares, representing approximately 12.54% of the outstanding Taseko Shares on that date.  On November 9, 2012, GNR was the beneficial owner of 23,960,835 Taseko Shares, representing approximately 12.58% of the outstanding Taseko Shares on that date.  The Taseko Shares beneficially owned by GNR are included in the number of shares over which RS had control or direction set out above.

SOURCE: RS Investment Management Co. LLC

For further information:

or to receive a copy of the early warning report filed in connection with this news release, please contact:

John J. Sanders, Jr.
Chief Compliance Officer
RS Investment Management Co. LLC
388 Market Street, Suite 1700
San Francisco, CA  94111
Telephone: (415) 591-2700