Taseko Reports Second Quarter Update for Gibraltar

VANCOUVER, BC, July 15, 2024 - Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB) (LSE: TKO) ("Taseko" or the "Company") announces second quarter production results of 20 million pounds of copper and 185,000 pounds of molybdenum.

Metal production in the second quarter was impacted by mill downtime for the relocation of the in-pit crusher and concurrent maintenance activities in concentrator #1, as well as a strike by the mine's unionized workforce in June. The in-pit crusher move was completed in late May but the final installation work and the other mill maintenance was interrupted by the 18-day strike in June. This work resumed following the strike, when contractors were able to return to site, and is now completed. Concentrator #1 has restarted and is in the process of ramping up to full capacity.

Concentrator #2 has been running consistently and at improved throughput rates since the repair work in January. An insurance claim has now been finalized for this previous issue, and insurance proceeds of US$22 million are expected to be received in the third quarter.

Stuart McDonald, President & CEO of Taseko, commented, "Production in the second half of 2024 is expected to be stronger with the major project and maintenance work in both concentrators completed. An updated mine plan and mill throughput opportunities are being evaluated to recover some of the production that was lost during the strike. Copper production for the year is expected to be in the range of 110 to 115 million pounds, compared to original guidance of 115 million pounds."

Stuart McDonald

President and CEO

Caution Regarding Forward-Looking Information

our ability to comply with the extensive governmental regulation to which our business is subject;

uncertainties related to First Nations claims and consultation issues;

uncertainties related to unexpected judicial or regulatory proceedings;

our dependence solely on our 87.5% interest in Gibraltar (as defined below) for revenues and operating cashflows;

our reliance upon key management and operating personnel;

the competitive environment in which we operate;

For further information on Taseko, see the Company's website at www.tasekomines.com or contact: Investor enquiries Brian Bergot, Vice President, Investor Relations – 778-373-4554