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Taseko Issues Statement On Review Panel Report

Stocks in this article: TGB TKO

VANCOUVER, Nov. 1, 2013 /PRNewswire/ - Taseko (TSX: TKO; NYSE MKT: TGB) (the "Company") today issued the following statement in response to the Canadian Environmental Assessment Agency federal Review Panel report on the proposed New Prosperity Gold-Copper Project in the Cariboo-Chilcotin region of British Columbia:

The 323 page Review Panel report is detailed and we will be examining and considering its full content over the coming days.

Taseko is committed to protecting Fish Lake, and fish habitat, and we strongly disagree with the panel's findings related to the potential impact on the water quality, fish and fish habitat of Fish Lake. Taseko will challenge these findings as they contradict best practices in place around the world today and expert opinion and analysis.

The report in most respects agrees with our assessment that there would not be significant adverse effects.  The risks are modest and the social and economic benefits are enormous.  The local governments and many citizens of the region made this very clear throughout the panel process.

With any major project there will be different views and some trade-offs, but we are confident the federal government can and will approve this project.

Taseko has also made significant commitments during the environmental assessment and is committed to further addressing any outstanding issues during permitting.

During the course of the panel process, Taseko expressed a number of concerns about the fairness of the process and will be reviewing the report carefully against those concerns.

This project must go ahead and will be of enormous benefit to British Columbia and Canada. It will provide thousands of person years of employment and billions of dollars in new tax revenue. It is for the government to make this decision - the panel just provides its report and views.

For more information on the New Prosperity project and Taseko's plan please visit newprosperityproject.ca

Russell Hallbauer President and CEO

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

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