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

TGB 5.630

+0.7%

12:42 PM EST

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From: Savant

12/12/2014 2:50:15 AM

of 572

Taseko Updates Copper Price Protection Program

VANCOUVER, Dec. 11, 2014 /PRNewswire/ - Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") has copper put options in place to provide downside protection to the price of copper through June 30, 2015. For the first half 2015, the Company has put options in place to guarantee a floor price for 30 million pounds of production at a strike price of US$3.00 in the first quarter and US$2.90 in the second quarter.

Russell Hallbauer, President and CEO of Taseko, stated, "We initiated our hedging strategy in 2009 and are one of a small group of copper producers that have consistently hedged to ensure stability of cash flow during times of metal price volatility. Although there appears to be a lack of direction with the copper price as a result of macroeconomic issues, we believe in the longer-term fundamentals. With the weakening Canadian dollar, the Canadian dollar price of copper has remained stable over the past year and is approximately C$3.35 per pound today. With roughly 80% of our Gibraltar costs denominated in Canadian dollars, our US dollar hedging is advantageous to Taseko."

Russell Hallbauer

President and CEO

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

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