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Gold/Mining/Energy : Taseko Mines Ltd. (TGB)

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From: Savant

10/30/2013 2:47:04 AM

of 572

Panel Report on Taseko's New Prosperity Project Expected this Week

VANCOUVER, Oct. 28, 2013 /PRNewswire/ - The Federal Review Panel conducting the environmental assessment of Taseko's (TSX: TKO) (NYSE MKT: TGB) New Prosperity Gold-Copper project is expected to submit its report to the Federal Minister of the Environment and release it to the public by Friday, November 1, 2013.

In anticipation of this report, Taseko wishes to inform the many stakeholders who have been involved in the environmental assessment over the past 24 months of the remaining steps in the process.

The Panel is not a decision making authority. The Panel Report is information for the Minister and it will be considered along with other information upon which the Federal Government will base its decision.

Federal Environmental Assessments are a design level planning tool focused on identifying potential adverse environmental effects that are within federal jurisdiction. The guidelines used to determine whether an adverse effect is likely, as prescribed in law under the Canadian Environmental Assessment Act of 2012, are as follows:

Step 1 - is the environmental effect adverse?

Step 2 - is the adverse environmental effect significant based on the application of the following five criteria?;

(i) magnitude; (ii) geographic extent; (iii) duration and frequency; (iv) degree to which the effect is reversible or not; and (v) ecological context

Step 3 - is a significant adverse effect "likely"?

Based on the project that Taseko has proposed and a fair and consistent application of the criteria under CEAA 2012, Taseko expects the Panel report to conclude there are no significant adverse environmental effects resulting from this project. Only the Minister of the Environment can determine whether the project is likely to cause adverse environmental effects, taking into account mitigation measures that are identified during the environmental assessment. If the Minister makes that determination, the Federal Cabinet will then decide whether these effects are justified in the circumstances, similar to the decision the Province made in its Environmental Review of Prosperity 2 1/2 years ago. A decision statement from the Federal Government is expected to be issued within 120 days from the date of the report's submission to the Minister.

Russell Hallbauer

President and CEO

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

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