Taseko Comments Market Volatility

VANCOUVER, July 1 /CNW/ - 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."

    
    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.

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