Taseko Provides Update on Florence Copper Ramp-up and Gibraltar 2025 Production Results

VANCOUVER, British Columbia, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to update progress at Florence Copper and announce 2025 production results for the Gibraltar Mine.

Construction activity at Florence Copper is now complete and the focus has shifted to wellfield operations and commissioning of the SX/EW plant. Wellfield acidification commenced in early November, and in early December mining solutions were circulating in all the new production wells within the commercial wellfield. Injection flowrates in the wellfield have met or exceeded expectations to-date, resulting in faster initial acidification of the wellfield. The grade of copper recovered in solution from the recovery wells has continued to increase, and the average solution grade has now reached the level required for SX/EW plant operations. Commissioning of the SX/EW plant area has been advancing without any significant issues, and plant operations are expected to commence shortly.

Wellfield drilling has also re-commenced with three drill rigs currently operating on site. Continued expansion of the commercial wellfield will support higher solution flows and increased copper production for the ramp-up this year.

Stuart McDonald, President and CEO of Taseko, commented, “The transition from construction to early-stage operations at Florence has gone smoothly, and we are very pleased with the initial copper recoveries and performance of the commercial wellfield. Our project team is focused on the successful start-up of the SX/EW plant in the coming days, followed by first copper cathode production within a few weeks.”

At Gibraltar, copper and molybdenum production for the 2025 year was 98 million pounds and 1.9 million pounds, respectively. Sales for the year were 99 million pounds of copper and 1.9 million pounds of molybdenum. Fourth quarter copper production was 31 million pounds of copper, a significant increase over the previous quarters of 2025. Copper head grade for the quarter increased to 0.26%, in line with management expectations, and recoveries were 81%. Production in the fourth quarter was impacted by unanticipated mill downtime, due to unscheduled maintenance activities and a serious accident which resulted in a temporary site wide shut down in November. Molybdenum production in the quarter was 0.8 million pounds, approximately 50% higher than the third quarter, and the best quarterly production in eight years. Gibraltar’s SX/EW plant produced 0.9 million pounds of copper cathode in the fourth quarter, and continues to operate.

“Gibraltar production in the second half of the year was a notable improvement over the first half of the year with higher grades and better quality ore. Looking ahead to 2026, we expect more consistent quarterly production, now that we are better situated in the Connector pit, and higher overall copper production,” added Mr. McDonald.

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

Caution Regarding Forward-Looking Information

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

our ability to draw down on our financing arrangements for the commissioning and ramp up of operations at 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 commissioning, ramp up and initial operations of Florence Copper will not meet our estimates of operating costs, revenue, sustaining capital, rates of return and cash flows from operations which have been projected by the technical report for Florence;

the risk of commissioning and ramp up 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 commencement of commercial operations at Florence Copper resulting from inflation risk, supply chain disruptions, material and labour shortages or other execution risks;

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 financing, if needed, to commence 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;