

| April 01, 2010 Taseko Completes Gibraltar Mine Joint Venture With Japanese Consortium | |
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April 1, 2010, Vancouver, BC -- Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") wishes to announce that the previously disclosed transaction to sell 25% of the Gibraltar Copper Mine to a Japanese Consortium (Sojitz Corporation -- 50%, Dowa Metals & Mining Co., Ltd. -- 25%, Furukawa Co., Ltd. -- 25%) for approximately C$187 million closed on March 31, 2010. Taseko will continue to be the operator of Gibraltar. A portion of these proceeds has been used to prepay Taseko's US$50 million long-term Credit Facility provided by Credit Suisse and Investec.
Russell Hallbauer, President and CEO of Taseko commented, "I am very pleased to be entering into this long-term relationship with world-class partners -- Sojitz, Dowa and Furukawa. Additionally, our favourable debt free balance sheet today will maximize our cash flow from Gibraltar, particularly in the current copper pricing environment. After the repayment of our credit facility, cash on hand today is approximately C$190 million. This cash secures a significant portion of the required capital to fund the construction of our wholly-owned Prosperity Gold-Copper Project." 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. | |
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