Taseko Mines Limited

Taseko Mines Limited

January 18, 2007 16:08 ET

Taseko Increases bcMetals Bid to $1.25

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Taseko Mines Limited ("Taseko" or the "Company") (TSX:TKO)(AMEX:TGB) announces that on January 19, 2007 it will be mailing a Notice of Variation (No 3) to its take-over bid for bcMetals Corporation ("bcMetals") common shares and out-of-the money warrants, which variation reflects an increase in the bid price to $1.25 per bcMetals share. The other terms and conditions to the bid remain the same except for the expiry time which is extended to midnight, January 29th, 2007.

Russ Hallbauer, President and CEO, commented, "This new bid price represents a 7.3% premium over Imperial Metals Corporation's last offer which consisted of an $0.015 increase (representing only about 1%) from Taseko's previous offer. We know this is a very solid bid, and it is indicative of our determination to acquire bcMetals."

For further details on Taseko and its properties, please visit the Company's website at www.tasekomines.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Russell Hallbauer, President and CEO

Forward-Looking Statements

This news release contains forward-looking statements that are based on current expectations and which involve risks and uncertainties, including those referred to in Taseko's Annual Information Form ("AIF") filed with Canadian securities regulatory authorities, or Taseko's Annual Form on 20F ("20F") filed with United States securities regulatory authorities, that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in the forward-looking statements. Such forward oriented information includes the timing of making a take-over bid and the uncertainties of in regards to its possible success and related regulatory approvals. Mining is a risky business and actual results may differ materially from those anticipated. Readers are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Taseko disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

For further information on the Company, Investors should review the Company's Canadian public filings at www.sedar.com or its US public filings at www.sec.gov.

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

Contact Information

  • Taseko Mines Limited
    Shawn Wallace
    Investor Services
    (604) 684-6365 or Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.tasekomines.com