Taseko Provides Construction Update on Florence Copper Project

VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the "Company") is pleased to update the progress at its 100%-owned Florence Copper project in Florence, Arizona.

At the end of June, construction of the commercial production facility was over 90% complete, and the project remains on schedule for first copper cathode production before the end of this year. Over 900,000 project hours have been worked with no reportable injuries or environmental incidents on the project to date. Currently, there are approximately 330 construction and support personnel on site, down from the peak levels in the first quarter.

Stuart McDonald, President & CEO of Taseko, commented, “The first 18 months of construction has gone exceptionally well, demonstrating the quality and experience of our on-site owner’s team and contractors. Construction activities are advancing on plan and project areas will soon start the transition to commissioning. A few notable milestones have recently been achieved. In the wellfield, all the injection and recovery wells planned for the construction phase have now been drilled and completed. Drilling will recommence after plant commissioning to expand the current wellfield and allow for copper production to ramp up to the full 85 million pound per year plant capacity. Also, last week, a key component of the site infrastructure was completed with APS (the local utility) energizing the site 69kV electrical substation.”

“Operational readiness remains a key focus for site management. Hiring full-time staff, training, and developing operational workflows are all ongoing to ensure our team is well-positioned for commercial operations in just a few months. A detailed operating plan for the 2026 ramp up is also being developed and will be finalized after acidification of the wellfield commences in the fall.”

“Florence Copper will be the next major U.S. supplier of domestically produced copper cathode. The potential for 50% tariffs on copper imports into the United States has driven the Comex copper price to record levels in recent weeks. It’s a great time to be bringing on a new U.S.-based copper mine, and a high Comex copper price premium would provide a further boost to Florence Copper’s already strong project economics,” concluded Mr. McDonald.

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

uncertainties as to our ability to achieve reduced costs for Gibraltar (as defined below) and to otherwise control our operating costs without impacting our planned copper production;

our ability to draw down on our financing arrangements for the construction of Florence Copper is subject to our meeting the required conditions for drawdown;

the risk of inadequate insurance or inability to obtain insurance to cover our business risks;

the risk that the results from our development of Florence Copper will not meet our estimates of remaining construction costs, operating expenses, revenue, rates of return and cash flows from operations which have been projected by the technical report for Florence;

the risk of cost overruns or delays in our construction of the commercial facilities at Florence Copper, resulting in not commencing commercial production within our current projected timeline or within our current projected cost estimates;

uncertainties related to the execution plan for the construction of Florence Copper and the commencement of commercial operations resulting from inflation risk, supply chain disruptions, material and labour shortages or other execution risks;

our ability to comply with all conditions imposed under the APP and UIC permits for the construction and operation of Florence Copper;

the availability of, and uncertainties relating to, any additional financing necessary for the continued operation and development of our projects, including with respect to our ability to obtain any additional construction financing, if needed, to complete the construction and commencement of commercial operations at Florence Copper;

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

uncertainties related to unexpected judicial or regulatory proceedings;

our ability to extend existing concentrate off-take agreements or enter into new agreements;

litigation risks and the inherent uncertainty of litigation;

our ability to renegotiate our existing union agreement for Gibraltar when it expires in May 2027;

our reliance upon key personnel;

the competitive environment in which we operate;