Taseko Mines: Draft Aquifer Protection Permit for Florence Copper Project to be Issued This Week

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04/08/2020 15:31
August 4, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) has been informed by the Arizona Department of Environmental Quality (“ADEQ”) that the draft Aquifer Protection Permit (“APP”) for the Florence Copper commercial production facility will be issued on Thursday, August 6, 2020. The APP is one of two key permits required to advance the project to commercial production.

Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, “The issuance of this important permit is a confirmation by the state regulator that the Florence Copper in-situ mining process is environmentally safe. We have proven this over the past 18 months while operating the test facility within all the stringent conditions set out in the current permit. We fully expect that following the 30-day public comment period, the ADEQ will be positioned to quickly issue the final permit.”

“From an operational perspective, we have completed a full evaluation of the data collected from the test wellfield over the last 18 months of operations. The test facility has successfully demonstrated our ability to produce high-quality copper cathode, within the stringent environmental guidelines of our permits, and has confirmed the project economics.”

“Many of the modelled assumptions have been validated and we have used the data to develop strategies for solution chemistry, flow rates, reverse flow and the use of well packers for targeting solution flows. The hydrogeological model has been updated using the data collected over the past 18 months and is being used to refine our operating plan for the commercial phase.” continued Mr. Hallbauer.

“With all of the required data in hand, we recently made the decision to wind down the production phase of the test facility and commence with rinsing the small section of the orebody where the wellfield has been operating. Timing of these activities are expected to mesh well with the overall project timeline and will provide our operating team with additional site specific experience,” added Mr. Hallbauer.

For further information on Taseko, please visit the Taseko website at www.tasekomines.com or contact:

Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533

Russell Hallbauer
Chief Executive Officer and Director

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



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