Taseko Mines Limited

Taseko Mines Limited

December 22, 2006 18:29 ET

Taseko Announces Matching Bid for bcMetals That Pays Sooner

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2006) - Taseko Mines Limited ("Taseko" or the "Company") (TSX:TKO)(AMEX:TGB) today confirmed that it is increasing its bid price for all the shares of bcMetals Corporation to $1.10 per share and accordingly will be delivering a notice of variation to bcMetals shareholders on December 28, 2006. In addition to increasing the bid price, Taseko has amended certain conditions from its November 23rd bid including dropping the need for a settlement with the minority shareholders of bcMetals subsidiary American Bullion Minerals Ltd. and reducing the minimum tendering threshold from 66 2/3% to 50% plus one. Taseko's varied bid will be open for acceptance until close of business Wednesday, January 10th, 2007.

Russ Hallbauer, Taseko CEO commented, "The revised Taseko bid matches a proposed competing bid on price and has the advantage that bcMetals shareholders will be paid in early January before the proposed competing bid may even be launched."

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