Taseko Signs Agreement With Sojitz Corporation

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Mar 24, 2010, 11:34 ET

VANCOUVER, March 24 /PRNewswire-FirstCall/ - Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company"), owner of Gibraltar Mines Ltd. is pleased to announce that the definitive agreements with the Sojitz Consortium for their previously announced joint venture investment in the Gibraltar Mine were executed last week. The joint venture partners will be Gibraltar Mines Ltd. (75%) and Cariboo Copper Corp. (25%) (jointly owned by Sojitz Corporation (50%), Dowa Metals & Mining Co., Ltd. (25%) and Furukawa Co., Ltd. (25%)). The transaction is scheduled to close on March 31, 2010 for total consideration of approximately C$187 million.

Russell Hallbauer, President and CEO of Taseko said "We are looking forward to a long term relationship with our strategic partners and realizing the significant growth opportunities that exist for our Company going forward".

    Russell Hallbauer
    President and CEO

        No regulatory authority has approved or disapproved of the
                      information in this news release.

                         Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information" (together, referred to as "forward-looking statements"). Although Taseko believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteed, and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the risk that the above-referenced transaction may not be completed within the time frame contemplated.

SOURCE Taseko Mines Limited