Taseko Announces 2024 Production Results

VANCOUVER, British Columbia, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") announces 2024 production from its 100% owned Gibraltar copper mine. Copper and molybdenum production for the year was 106 million pounds and 1.4 million pounds, respectively. Sales volumes for the year were 108 million pounds of copper and 1.4 million pounds of molybdenum.

In late December, the Company closed a transaction with Osisko Gold Royalties to amend the Gibraltar silver steam agreement, increasing the attributable silver percentage from 87.5% to 100%. In exchange, Taseko has received an additional cash payment of US$12.7 million.

Stuart McDonald, President & CEO of Taseko, commented, “Since completion of the planned major maintenance activities in July, milling operations at Gibraltar have been running smoothly. Mill throughput averaged over 89,000 tons per day in the fourth quarter, 5% over design capacity, resulting in copper production of 29 million pounds for the period. Looking ahead to 2025, increased mill availability is expected to result in annual copper production of 120 to 130 million pounds, a significant increase over last year, although production is expected to be weighted to the second half of the year.”

“The silver stream amendment follows our acquisition of the remaining 12.5% Gibraltar joint venture interest last March, and the additional cash proceeds further strengthen our balance sheet during this period of construction spending at Florence Copper,” concluded Mr. McDonald.

For further information on Taseko, see the Company’s website at tasekomines.com or contact:

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 Gibraltar (as defined below) for revenues and operating cashflows;

our reliance upon key management and operating personnel;

the competitive environment in which we operate;