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Gibraltar Mine Expansion on Schedule


October 1,2008

Taseko's Gibraltar Mine Expansion on Schedule

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - Taseko Mines Limited ("Taseko" or the "Company") (TSX:TKO)(AMEX:TGB) is pleased to announce that the key components of the Semi Autogenous Grinding ("SAG") mill for the Gibraltar concentrator expansion have commenced shipment from Europe. Mill motors and ancillary systems are already on site at Gibraltar and ready for installation in the newly erected SAG mill building. With the shipment of the SAG mill components now underway, delivery is on target for August of this year as projected in the original plans in May 2006.

Additionally, all ten new 160 cubic metre flotation cells are expected to be operational, on schedule, within the next two weeks. These new cells will improve copper and molybdenum recoveries and provide sufficient capacity for planned increases in the concentrator throughput.

As a result of mill installation and flotation upgrades, the ore processing capacity of the concentrator at Gibraltar will increase from 36,750 to 46,000 tpd by the end of calendar 2007. The Phase 2 expansion announced in May 2007, designed to increase the concentrator capacity from 46,000 to 55,000 tpd by late 2008, is also proceeding on schedule.

In parallel with the extensive work being undertaken in the concentrator, major mining equipment has been purchased with accelerated delivery times. Delivery of this equipment has been reduced to just 12 months from the current industry average of 24 months.

A new 60 x 89 primary crusher, capable of crushing 70,000 tpd, and a P&H 4100 shovel are scheduled to be on site by the summer of 2008 and operational by the fall of 2008.

Russell Hallbauer, President and CEO of Taseko, commented, "All of the Taseko team in Vancouver and at Gibraltar have done an exceptional job over the last 15 months advancing this complex project. There are very few mining companies that have the ability to more than double their production in such a short time frame at a very low capital cost. This accomplishment truly sets us apart from our peers."