Taseko Mines Limited

Taseko Mines Limited

November 13, 2007 09:02 ET

Taseko Private Placement Raises $7.6 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - Taseko Mines Limited (TSX:TKO)(AMEX:TGB) ("Taseko" or the "Company") announces that it has completed a private placement financing. The Company issued 1,455,100 shares at a price of $5.20 per share for gross proceeds of $7.6 million.

The private placement, together with a $42.5 million bought deal financing, were announced on October 9, 2007. The bought-deal closed on October 30, 2007.

Taseko is a development and production company listed on the Toronto and American Stock Exchanges. Its Gibraltar copper-molybdenum mine is currently undergoing a two phase expansion, designed to increase copper production capacity to 115 million pounds per year by the end of 2008. The Company also announced the positive results of a feasibility study on its Prosperity gold-copper project in September 2007. Both Gibraltar and Prosperity are located in south-central British Columbia, Canada.

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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, completion of the mill upgrade on time estimated and at scheduled cost, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com.

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

Contact Information

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