Setting the Standard in Mine Development
April, 2011
Forward-Looking Statements

  Some of the statements contained in the following material are "forward-looking statements".
  All statements in this release, other than statements of historical facts, that address estimated
  mineral resource and reserve quantities, grades and contained metal, and possible future
  mining, exploration and development activities, are forward-looking statements. Although the
  Company believes the expectations expressed in such forward-looking statements are based
  on reasonable assumptions, such statements should not be in any way construed as
  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 market prices for metals, the
  conclusions of detailed feasibility and technical analyses, lower than expected grades and
  quantities of resources, mining rates and recovery rates and the lack of availability of
  necessary capital, which may not be available to the Company on terms acceptable to it or at
  all. The Company is subject to the specific risks inherent in the mining business as well as
  general economic and business conditions. For more information on the Company, Investors
  should review the Company's annual Form 20-F filing with the United States Securities
  Commission at www.sec.gov. and its Canadian securities filings that are available at
  www.sedar.com.
The Taseko Advantage

             •   ~$200 million cash on hand ($1/share)
 Financial
             •   Significant cash flow at current metal prices
 Strength
             •   Debt free

             •   Diversified project pipeline of 100% owned, near-term gold, copper and
 Growth          niobium projects
             •   90% copper production increase by 2014


             •   Assets located in secure political jurisdiction
 Stability
             •   Experienced, operations-focused management team


             •   8 million ounces of gold reserves (16 million ounces of gold resources)
 Long-Life   •   6 billion pounds of copper reserves (11 billion pounds of copper
 Assets          resources)
             •   Large developing niobium resource
Assets Located in British Columbia


                         British
                        Columbia
                                            Aley
                                            (Niobium)

                                               Mackenzie




                           Gibraltar
             Harmony      (Copper / Moly)
               (Gold)
                                                Williams Lake

                          Prosperity
                          (Gold / Copper)


                                                Vancouver
Financial Strength
Strong Balance Sheet

                   $800

                   $700

                   $600

                   $500
  (C$, millions)




                   $400

                   $300

                   $200

                   $100

                     $0
                            2007                 2008                  2009                2010


                          Cash and Equivalents          Total Assets          Shareholders' Equity
Asset Stability                                                                Gibraltar Copper Mine

Location:                   65 km north of Williams Lake, British Columbia

Ownership:                  75%

Mineral Reserves:           2.7 billion pounds recoverable copper
under review                30 million pounds recoverable molybdenum

Mine Type:                  Open-pit, 55,000 tpd mill throughput

Mine Life:
                            +20 years
under review




  • 25% of Gibraltar was sold to Japanese consortium in Q1 2010 for $187 million

  • $300 million invested to modernize the operation from 2006-2010; Ramp up to 55,000 tpd
    in H1 2011

  • Additional $325 million expansion approved; construction to be completed by end of 2012

  • Gibraltar is the second largest open pit copper mine in Canada

  • Reserve update mid-May 2011; 43-101 mid-June 2011

  → ~$1.5 billion replacement value of                             fixed property and mineral assets

  *LOM Production estimates are 100% of mine production
Asset Growth                                                  Gibraltar Copper Mine


GDP3 Project Scope
   •   Construction of a new 55,000 tpd concentrator
   •   Expansion of mining fleet to allow 85,000 tpd ore delivery; 330,000 tpd mining rate
   •   Construction of a new molybdenum separation facility
   •   Upgrade site infrastructure to support higher mining rates and concentrator
       throughput



Reserve Update
   •   Cut-off to remain at 0.20% Copper
   •   Pit shells to be evaluated from $2 - $3
   •   Expected 43-101 update by June 2011; a significant conversion of Gibraltar’s 500
       million tons of resources is anticipated
Asset Growth                                               Gibraltar Copper Mine



Project Rationale
   •   Based on a conservative $1.50/ pound margin, the project has a simple payback of
       3 years
   •   Project completion by December 2012
   •   Take advantage of current copper curve
   •   Transitional growth until Prosperity Federal EA Certificate received
   •   Low capital intensity
        • $4,300 / tpd mill capacity
        • $5,900 / tpd mill capacity (including mining equipment)
   •   Prosperity engineering team transferred to GDP3
Asset Growth                                                                   Gibraltar Copper Mine


 Production Profile
         •     By 2013 copper production will have increased by 70% and molybdenum
               production will increased by 170%

                                     GDP3 Construction          GDP3 Ramp Up
                                         Commenced




       Annual Estimated
       Production                         2011           2012      2013        2014     2015
       (million lbs)
       Copper                              95            115        165         180      180

       Molybdenum                          1.1           2.0        3.0         3.0      3.0



         •     Long-term total operating costs, site + off property costs, are expected to be
               US $1.50-$1.70/ pound


 Note: All figures are on a 100% basis
Asset Growth                                                                    Gibraltar Copper Mine


Capital Costs & Financing

    Source of Funds:                                         Use of Funds:

                                       C$M     % of total                               C$M     % of total

 Cash and debt*                        $ 176     54%        Concentrator & Moly Plant   $ 235      72%

 Equipment financing                   $ 90      28%        Mining Equipment            $ 90       28%

 JV Partner                            $ 59      18%

 Total                                 $325    100%         Total                       $325     100%




*Company exploring debt alternatives
Asset Growth                          Gibraltar Copper Mine

Preliminary GDP3 Timeline

      Drill Program



   Reserve update



Project Engineering



      Procurement



      Construction



   Commissioning



                 2011       2012   2013              2014
Growth: Project Pipeline

 100% Owned Assets


                                            British
                                           Columbia
 •   Prosperity Gold/Copper Project
                                                               Aley
                                                               (Niobium)

                                                                  Mackenzie
 •   Aley Niobium Project
                                              Gibraltar
 •   Harmony Gold Project       Harmony      (Copper / Moly)
                                  (Gold)
                                                                   Williams Lake

                                             Prosperity
                                             (Gold / Copper)


                                                                  Vancouver
Growth                                                                      Prosperity Gold-Copper Project

Location:                        125 km south-west of Williams Lake, British Columbia

Ownership:                       100%

                                 7.7 million ounces recoverable gold
Mineral Reserves:
                                 3.6 billion pounds recoverable copper

Mine Type:                       Open-pit, 70,000 tpd mill throughput

Mine Life:                       +20 years




5-year production profile (based on new Federal Environmental Submission)

                                                   Yr 1*             Yr 2    Yr 3      Yr 4      Yr 5     Average

      Gold (ounces)                              160,000        300,000     325,000   275,000   305,000   300,000


      Copper (thousands, pounds)                  75,000        130,000     130,000   120,000   120,000   130,000




→       Life of mine average annual production ~490,000 gold eq. ounces**
 *    Based on 6 months production
 **   Based on long-term Au price US $875/oz, Cu Price US $2.25/lb
Project Economic Criteria                                       Prosperity Gold-Copper Project


                        Old Project:                               Revised Project:
                        2005 Project Economic Criteria             2011 Project Economic Criteria
                        Cu = US $1.50                              Cu = US $2.25
                        Au = US $ 575                              Au = US $ 875
                $2.40                                                                                        $1,200



                $1.80                                                                                        $900




                                                                                                                      (Au - US$/oz)
(Cu - US$/lb)




                $1.20                                                                                        $600



                $0.60                                                                                        $300


                $0.00                                                                                        $0
                        2005            2006        2007             2008           2009            2010

                               Consensus Price Average Cu = $1.32                          Consensus Cu = $2.25
                               Consensus Price Average Au = $550                           Consensus Au = $975
Growth                                            Prosperity Gold-Copper Project

Timeline
      Provincial EA Certificate
              Granted


         Mine Permit Process



  New Engineering for Project


           New CEAA Review


        Federal EA Certificate


Detailed Facility Engineering &
          Site Prep


                 Construction


              Commissioning


                             2010   2011   2012   2013    2014    2015    2016
Growth                                                          Aley Niobium Project

Location:            Northern British Columbia

Ownership:           100%

Mine Type:           Open Pit, 5000 tpd mill throughput

Mine Life:           +20 years


Niobium
•   Similar usage as molybdenum in steel
     • Specifically used in manufacturing high strength, low alloy steels
     • Green technologies, turbines, aerospace, automobile steels, oil and gas

•   Global annual consumption of ferro-niobium is 210 million pounds/ year
     • Growing at 5-7% per year

•   US $4.5 billion industry

•   Price has averaged over US $20/ pound in the past four years

•   3 producers worldwide:
     • CBMM, Brazil
     • Anglo American, Brazil
     • IAMGOLD, Canada
Growth                                                          Aley Niobium Project


 Aley Deposit History
 Cominco: Discovered in 1980
 • Spent $2 million on a 20 hole drill program from 1983-1986, outlined significant
   niobium mineralization

 •   Divested in 2006, non-core



 Taseko: Acquired in 2007 for $5 million
 • Preliminary drilling in 2007, 18 holes which confirmed Cominco’s work



 2010 Exploration Program

 •   23 holes drilled, for a total 4,500 meters

 •   Intersections from surface, up to 200 meters of niobium and rare earth mineralization
Total Au Resources (MM ozs)




                                                                                                                                                                                                                                                                                                                                   -
                                                                                                                                                                                                                                                                                                                                       2
                                                                                                                                                                                                                                                                                                                                                 4
                                                                                                                                                                                                                                                                                                                                                      6
                                                                                                                                                                                                                                                                                                                                                           8
                                                                                                                                                                                                                                                                                                                                                                   10
                                                                                                                                                                                                                                                                                                                                                                          12
                                                                                                                                                                                                                                                                                                                                                                                14
                                                                                                                                                                                                                                                                                                                                                                                                16
                                                                                                                                                                                                                                                                                                                                                                                                                               18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                             20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               94M
                                                                                                                                                                                                                                                                                           Pebble - Northern Dynasty Minerals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               44M


                                                                                                                                                                                                                                                                                                        Reko Diq - Antofagasta
                                                                                                                                                                                                                                                                                                    Oyu Tolgoi - Ivanhoe Mines
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               32M




                                                                                                                                                                                                                                                                                                            Tampakan - Xstrata
                                                                                                                                                                                                                                                                                                   Lookout Hill - Ivanhoe Mines
                                                                                                                                                                                                                                                                                                               Salobo - Vale SA
                                                                                                                                                                                                                                                                                                     Prosperity - Taseko Mines
                                                                                                                                                                                                                                                                                                        Bougainville - Rio Tinto
                                                                                                                                                                                                                                                                                                          Frieda River - Xstrata
                                                                                                                                                                                                                                                                                                    Agua Rica - Yamana Gold
                                                                                                                                                                                                                                                                                                       Golpu - Newcrest Mining
                                                                                                                                                                                                                                                                                        Galore Creek - NovaGold Resources
                                                                                                                                                                                                                                                                                                              El Morro - Xstrata
                                                                                                                                                                                                                                                                                                     Casino - Western Copper
                                                                                                                                                                                                                                                                                                   Red Chris - Imperial Metals
                                                                                                                                                                                                                                                                                          Bystrinskoye - Norilsk Nickel (MMC)
                                                                                                                                                                                                                                                                                                      Esperanza - Antofagasta
                                                                                                                                                                                                                                                                                           Xietongmen - Continental Minerals
                                                                                                                                                                                                                                                                                                   Telegrafo Sur - Antofagasta
                                                                                                                                                                                                                                                                                                       Boyongan - Philex Gold
                                                                                                                                                                                                                                                                                     Cerro Colorado - Government of Panama
                                                                                                                                                                                                                                                                                                    Namosi - Newcrest Mining
                                                                                                                                                                                                                                                                                            Schaft Creek - Copper Fox Metals
                                                                                                                                                                                                                                                                                                            Kingking - Benguet
                                                                                                                                                                                                                                                                                               Taldybulak Talas - Gold Fields
                                                                                                                                                                                                                                                                                                Mirador - Corriente Resources
                                                                                                                                                                                                                                                                                            Josemaria - Suramina Resources
                                                                                                                                                                                                                                                                                               Mankayan - Bezant Resources
                                                                                                                                                                                                                                                                                                     Galeno - China Minmetals
                                                                                                                                                                                                                                                                                       Ak-Sug - Golevskaya Mining Company
                                                                                                                                                                                                                                                                                                    El Arco - Southern Copper
                                                                                                                                                                                                                                                                                                                                                                                       Gold Grade (g/t)




                                                                                                                                                                                                                                                                                                 Cloncurry - Ivanhoe Australia
                                                                                                                                                                                                                                                                                                                                                                                                          Low Political Risk
                                                                                                                                                                                                                                                                                                                                                                                                                                                       High Political Risk




                                                                                                                                                                                                                                                                                                     Sinchao - Sinchao Metals
                                                                                                                                                                                                                                                                                                                                                                                                                               Medium Political Risk




                                                                                                                                                                                                                                                                                                Cobre Panama - Inmet Mining
                                                                                                                                                                                                                                                                                       Duboashan - China Non-Ferrous Metal
                                                                                                                                                                                                                                                                                                 Sierra Gorda - Quadra Mining
                                                                                                                                                                                                                                                                                                    Yandera - Marengo Mining
                                                                                                                                                                                                                                                                                                     Mirdita - Tirex Resources
                                                                                                                                                                                                                                                                                     Kuru Tegerek - China Shen Zhou Mining
                                                                                                                                                                                                                                                                                             Tuwu-Yandong - Yunnan Copper
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Appendix 1: Major Cu-Au Deposits




                                                                                                                                                                                                                                                                                        Ajax - Abacus Mining and Exploration
                                                                                                                                                                                                                                                                                                Ilovitza - EurOmax Resources
                                                                                                                                                                                                                                                                                                  Taca Taca - Lumina Copper
                                                                                                                                                                                                                                                                                                   Hushamu - IMA Exploration
                                                                                                                                                                                                                                                                                                            Gameleira - Vale SA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Top 50 Major Global Non-Producing Cu-Au Deposits by Gold Contained




                                                                                                                                                                                                                                                                                   Copper Canyon - SpectrumGold (Novagold)
                                                                                                                                                                                                                                                                                    Kodu - Government Of Papua New Guinea
                                                                                                                                                                                                                                                                                                    Taysan - Chase Resource
                                                                                                                                                                                                                                                                                         Tong-La-Shan - Jinshan Gold Mines
                                                                                                                                                                                                                                                                                                      Nokomis - Duluth Metals
                                                                                                                                                                                                                                                                                                                                   -
                                                                                                                                                                                                                                                                                                                                           0.2
                                                                                                                                                                                                                                                                                                                                                     0.4
                                                                                                                                                                                                                                                                                                                                                             0.6
                                                                                                                                                                                                                                                                                                                                                                        0.8
                                                                                                                                                                                                                                                                                                                                                                                 1.0
                                                                                                                                                                                                                                                                                                                                                                                                                  1.2
                                                                                                                                                                                                                                                                                                                                                                                                                                                                             1.4




                                                                                                                                                                                                                                                                                                                                                                   Gold Grade (g/t)
Source: Wellington West Capital Markets; Metals Economics Group 2008-2009; Fraser Mining Institute Survey for Political Risk; Transparency International Annual Report 2008
                                                                                                                                                                                political risk (2nd largest pre-producing deposit in a low political risk jurisdiction globally)
                                                                                                                                                                              • Prosperity is one of the largest non-producing copper-gold deposits in a jurisdiction with low
Appendix 2: Key Accomplishments
January 2010    • Received British Columbia Environmental Assessment Certificate for
                  Prosperity

March 2010      • Completed transaction to sell 25% Gibraltar Mine for ~$187 million

May 2010        • Signed gold stream agreement with Franco-Nevada to sell 22% of future
                  gold production from Prosperity for US$350 million

June 2010       • BC Provincial Government granted Taseko a long-term mining lease for
                  Prosperity, providing mineral tenure security

July 2010       • Federal Panel submitted its report to the Government of Canada, findings in-
                  line with Taseko’s expectations and Provincial Approval

November 2010   • Prosperity project delayed due to Federal Government’s requested revisions

January 2011    • Announcement of successful drill program at Aley
                • 2010 production: 92.3 million lbs of copper and 941,000 lbs of molybdenum

February 2011   • Board approves a further capacity increase at the Gibraltar Mine, increasing
                  annual copper production by ~60 million lbs to 180 million lbs
                • Revised Prosperity Project description submitted to CEAA
Appendix 3: Investment Summary

 Share Structure

  Cash on Hand:     ~C$212, as at December 31, 2011

  Listed:           TSX; TKO / NYSE Amex; TGB
                    S&P/TSX Composite : S&P/TSX Small Cap
  Indices:
                    S&P/TSX Global Mining : S&P/TSX Global Base Metals
  Shares
                    188.9 million
  Outstanding:
  Market
                    $1.1 billion
  Capitalization:
  52 Week
                    C$7.27/C$3.27 ; US$7.23/US$3.31
  High/Low:
                    Scotia Capital, Raymond James, Wellington West, CIBC,
  Analyst
                    Canaccord, Jennings Capital, Paradigm, BMO, TD Newcrest,
  Coverage:
                    Credit Suisse, Dahlman Rose, MLV
  Target Range:     $4.75- $14.25
Appendix 4: Experienced Management Team
Russell Hallbauer, P. Eng - President & CEO and Director – Mr. Hallbauer is a
professional engineer with over 35 years of mining experience. He has a strong background in
open pit and underground mining, overseeing operating joint ventures and revitalizing mines to
profitability.

John McManus, P. Eng - Senior Vice President, Operations – Mr. McManus is a
professional engineer who has worked in the BC mining industry for over 30 years. He has
extensive experience in mine operation, mine engineering and environmental management.

Ron Thiessen, CA - Chairman – Mr. Thiessen is an accredited public accountant in Canada.
For over 25 years, he has concentrated on the development of venture capital financing for
emerging public and private companies. He is a corporate officer and director of several publicly
traded exploration and development companies.

Peter Mitchell, CA - CFO – Mr. Mitchell is an accredited charter accountant in Canada. He
has held leadership finance roles in the mining industry, as well as other industrial companies and
more recently, in the for-profit education sector.

Brian Battison - Vice President, Corporate Affairs – Mr. Battison is a public affairs
specialist with over 25 years of experience in policy development, issue management and
communication in both the private and public sectors. He has been a senior political and policy
advisor in BC and has served as Interim President & CEO of the Mining Association of BC.

Scott Jones, P. Eng - Vice President, Engineering – Mr. Jones has over 25 years of
experience in the mining industry, including property valuations, mining feasibility studies and
technical engineering support as well as 10 years in open pit operations and exploration in BC and
the Yukon.

Dave Rouleau, P. Eng - Vice President, Operations – Mr. Rouleau has over two
decades of experience in the mining and oil and gas industries. He has extensive experience in
mine operations and engineering in British Columbia and Alberta.
Appendix 4: Experienced Management Team

Robert Rotzinger, P. Eng - General Manager, Projects – Robert is a mechanical engineer and has worked at the Gibraltar
Mine since 1994 where he has taken on increasingly senior positions. He has been tasked with the management of diverse engineering,
environmental, metallurgical and mining initiatives, such as the revamped molybdenum circuit and Copper Refinery project. He was a key
member of the team that restarted operations at Gibraltar last year as well as participating in the development of the Gibraltar Joint Venture
with Ledcor CMI Ltd.


Tom Broddy - Manager, Engineering – Tom is a mining engineer with more than 19 years of experience in the mining industry.
Prior to joining Taseko in 2006, he was Manager of Container Operations at Centerm container terminal in the Port of Vancouver. He spent
16 years at Tumbler Ridge working at both the Bullmoose and Quintette coal mines and has significant experience in mine engineering,
blasting, pit operations and terminal management.

Mary Ellen Thorburn – Corporate Controller – Mary Ellen is a Chartered Accountant, a Certified Public Accountant, and a
Chartered Financial Analyst with more than 18 years of experience in the mining industry. Prior to joining Taseko, she has worked for
Barrick Gold Corporation, UBS Securities, and PWC both in Canada and Internationally.

Keith Merriam, P. Eng - Manager, Process Engineering – Keith is a P.Eng. and an Extractive Metallurgist with over 9 years
experience in the Mining Industry, primarily in the area of Mineral Processing. He has worked primarily in technical, commissioning and
operational roles, gaining experience in a variety of areas and taking on increasing levels of responsibility. Prior to joining Taseko in 2008,
he was the Operations General Foreman at Hudson Bay Mining and Smelting’s Flin Flon Copper/Zinc Concentrator and prior to that, he
held the position of Senior Mill Metallurgist.

Katherine Gizikoff - Manager, Government and Environmental Affairs – Katherine is a professional agrologist with 28
years experience at coal and metal mines in Western Canada. Prior to joining Taseko in 2007, Katherine was consulting, providing
environmental management, reclamation, research, and permitting services for the mining industry in BC. Prior to that, she was an
environmental coordinator for Manalta Coal in Alberta, with earlier work experience at Elkview and Similco. Katherine has extensive
experience with government-industry committees, facilitation, community liaison and consultation.
Appendix 5: Reserves and Resources

Prosperity
                                                     Mineral Reserves @ C$5.50 NSR/t Cut-Off1
                                      Size                         Grade                        Recoverable Metal                      Contained Metal
                                    M Tonnes             Au (g/t)           Cu (%)           Au (M oz)          Cu (B lb)          Au (M oz)          Cu (B lb)
       P&P reserves                     830                0.41               0.23                7.7                3.6               11.0               4.2

       M&I Resources                    181                0.40               0.30                  -                 -                 2.3               1.1

       Total                           1,011               0.41               0.24                  -                 -                13.3               5.3




 Gibraltar
                                                                                   Grade                  Recoverable Metal                Contained Metal
      Category (at 0.20% Cu                            Size
      Cut-off)                                   (Million Tons)           Cu(%)            Mo(%)            Cu (Billions lbs)              Cu (Billions lbs)
      P&P Reserves                                      459                0.315            0.008                     2.6                           2.9

      M&I Resources*                                    959                0.298            0.008                      -                            5.7



1 The mineral resource and reserve estimations were completed by Taseko staff under the supervision of Scott Jones, P.Eng., Vice-President, Engineering and a Qualified Person
under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed
the updated economic evaluation. The estimates for the reserves used long term metal prices of US$1.65/lb for copper and US$650/oz for gold and a foreign exchange of C$0.82 per
US dollar.. A technical report was filed on www.sedar.com.

2 The resource and reserve estimation was completed by Gibraltar mine staff under the supervision of Scott Jones, P.Eng., Vice President, Engineering and a Qualified Person under
National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the
updated economic evaluation. The estimates used long term metal prices of US$1.75/lb for copper and US$10.00/lb for molybdenum and a foreign exchange of US$0.80/C$1.00. A
technical report will be filed on www.sedar.com.

Presentation: Taseko Mines (April 2011)

  • 1.
    Setting the Standardin Mine Development April, 2011
  • 2.
    Forward-Looking Statements Some of the statements contained in the following material are "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated mineral resource and reserve quantities, grades and contained metal, and possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as 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 market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission at www.sec.gov. and its Canadian securities filings that are available at www.sedar.com.
  • 3.
    The Taseko Advantage • ~$200 million cash on hand ($1/share) Financial • Significant cash flow at current metal prices Strength • Debt free • Diversified project pipeline of 100% owned, near-term gold, copper and Growth niobium projects • 90% copper production increase by 2014 • Assets located in secure political jurisdiction Stability • Experienced, operations-focused management team • 8 million ounces of gold reserves (16 million ounces of gold resources) Long-Life • 6 billion pounds of copper reserves (11 billion pounds of copper Assets resources) • Large developing niobium resource
  • 4.
    Assets Located inBritish Columbia British Columbia Aley (Niobium) Mackenzie Gibraltar Harmony (Copper / Moly) (Gold) Williams Lake Prosperity (Gold / Copper) Vancouver
  • 5.
    Financial Strength Strong BalanceSheet $800 $700 $600 $500 (C$, millions) $400 $300 $200 $100 $0 2007 2008 2009 2010 Cash and Equivalents Total Assets Shareholders' Equity
  • 6.
    Asset Stability Gibraltar Copper Mine Location: 65 km north of Williams Lake, British Columbia Ownership: 75% Mineral Reserves: 2.7 billion pounds recoverable copper under review 30 million pounds recoverable molybdenum Mine Type: Open-pit, 55,000 tpd mill throughput Mine Life: +20 years under review • 25% of Gibraltar was sold to Japanese consortium in Q1 2010 for $187 million • $300 million invested to modernize the operation from 2006-2010; Ramp up to 55,000 tpd in H1 2011 • Additional $325 million expansion approved; construction to be completed by end of 2012 • Gibraltar is the second largest open pit copper mine in Canada • Reserve update mid-May 2011; 43-101 mid-June 2011 → ~$1.5 billion replacement value of fixed property and mineral assets *LOM Production estimates are 100% of mine production
  • 7.
    Asset Growth Gibraltar Copper Mine GDP3 Project Scope • Construction of a new 55,000 tpd concentrator • Expansion of mining fleet to allow 85,000 tpd ore delivery; 330,000 tpd mining rate • Construction of a new molybdenum separation facility • Upgrade site infrastructure to support higher mining rates and concentrator throughput Reserve Update • Cut-off to remain at 0.20% Copper • Pit shells to be evaluated from $2 - $3 • Expected 43-101 update by June 2011; a significant conversion of Gibraltar’s 500 million tons of resources is anticipated
  • 8.
    Asset Growth Gibraltar Copper Mine Project Rationale • Based on a conservative $1.50/ pound margin, the project has a simple payback of 3 years • Project completion by December 2012 • Take advantage of current copper curve • Transitional growth until Prosperity Federal EA Certificate received • Low capital intensity • $4,300 / tpd mill capacity • $5,900 / tpd mill capacity (including mining equipment) • Prosperity engineering team transferred to GDP3
  • 9.
    Asset Growth Gibraltar Copper Mine Production Profile • By 2013 copper production will have increased by 70% and molybdenum production will increased by 170% GDP3 Construction GDP3 Ramp Up Commenced Annual Estimated Production 2011 2012 2013 2014 2015 (million lbs) Copper 95 115 165 180 180 Molybdenum 1.1 2.0 3.0 3.0 3.0 • Long-term total operating costs, site + off property costs, are expected to be US $1.50-$1.70/ pound Note: All figures are on a 100% basis
  • 10.
    Asset Growth Gibraltar Copper Mine Capital Costs & Financing Source of Funds: Use of Funds: C$M % of total C$M % of total Cash and debt* $ 176 54% Concentrator & Moly Plant $ 235 72% Equipment financing $ 90 28% Mining Equipment $ 90 28% JV Partner $ 59 18% Total $325 100% Total $325 100% *Company exploring debt alternatives
  • 11.
    Asset Growth Gibraltar Copper Mine Preliminary GDP3 Timeline Drill Program Reserve update Project Engineering Procurement Construction Commissioning 2011 2012 2013 2014
  • 12.
    Growth: Project Pipeline 100% Owned Assets British Columbia • Prosperity Gold/Copper Project Aley (Niobium) Mackenzie • Aley Niobium Project Gibraltar • Harmony Gold Project Harmony (Copper / Moly) (Gold) Williams Lake Prosperity (Gold / Copper) Vancouver
  • 13.
    Growth Prosperity Gold-Copper Project Location: 125 km south-west of Williams Lake, British Columbia Ownership: 100% 7.7 million ounces recoverable gold Mineral Reserves: 3.6 billion pounds recoverable copper Mine Type: Open-pit, 70,000 tpd mill throughput Mine Life: +20 years 5-year production profile (based on new Federal Environmental Submission) Yr 1* Yr 2 Yr 3 Yr 4 Yr 5 Average Gold (ounces) 160,000 300,000 325,000 275,000 305,000 300,000 Copper (thousands, pounds) 75,000 130,000 130,000 120,000 120,000 130,000 → Life of mine average annual production ~490,000 gold eq. ounces** * Based on 6 months production ** Based on long-term Au price US $875/oz, Cu Price US $2.25/lb
  • 14.
    Project Economic Criteria Prosperity Gold-Copper Project Old Project: Revised Project: 2005 Project Economic Criteria 2011 Project Economic Criteria Cu = US $1.50 Cu = US $2.25 Au = US $ 575 Au = US $ 875 $2.40 $1,200 $1.80 $900 (Au - US$/oz) (Cu - US$/lb) $1.20 $600 $0.60 $300 $0.00 $0 2005 2006 2007 2008 2009 2010 Consensus Price Average Cu = $1.32 Consensus Cu = $2.25 Consensus Price Average Au = $550 Consensus Au = $975
  • 15.
    Growth Prosperity Gold-Copper Project Timeline Provincial EA Certificate Granted Mine Permit Process New Engineering for Project New CEAA Review Federal EA Certificate Detailed Facility Engineering & Site Prep Construction Commissioning 2010 2011 2012 2013 2014 2015 2016
  • 16.
    Growth Aley Niobium Project Location: Northern British Columbia Ownership: 100% Mine Type: Open Pit, 5000 tpd mill throughput Mine Life: +20 years Niobium • Similar usage as molybdenum in steel • Specifically used in manufacturing high strength, low alloy steels • Green technologies, turbines, aerospace, automobile steels, oil and gas • Global annual consumption of ferro-niobium is 210 million pounds/ year • Growing at 5-7% per year • US $4.5 billion industry • Price has averaged over US $20/ pound in the past four years • 3 producers worldwide: • CBMM, Brazil • Anglo American, Brazil • IAMGOLD, Canada
  • 17.
    Growth Aley Niobium Project Aley Deposit History Cominco: Discovered in 1980 • Spent $2 million on a 20 hole drill program from 1983-1986, outlined significant niobium mineralization • Divested in 2006, non-core Taseko: Acquired in 2007 for $5 million • Preliminary drilling in 2007, 18 holes which confirmed Cominco’s work 2010 Exploration Program • 23 holes drilled, for a total 4,500 meters • Intersections from surface, up to 200 meters of niobium and rare earth mineralization
  • 18.
    Total Au Resources(MM ozs) - 2 4 6 8 10 12 14 16 18 20 94M Pebble - Northern Dynasty Minerals 44M Reko Diq - Antofagasta Oyu Tolgoi - Ivanhoe Mines 32M Tampakan - Xstrata Lookout Hill - Ivanhoe Mines Salobo - Vale SA Prosperity - Taseko Mines Bougainville - Rio Tinto Frieda River - Xstrata Agua Rica - Yamana Gold Golpu - Newcrest Mining Galore Creek - NovaGold Resources El Morro - Xstrata Casino - Western Copper Red Chris - Imperial Metals Bystrinskoye - Norilsk Nickel (MMC) Esperanza - Antofagasta Xietongmen - Continental Minerals Telegrafo Sur - Antofagasta Boyongan - Philex Gold Cerro Colorado - Government of Panama Namosi - Newcrest Mining Schaft Creek - Copper Fox Metals Kingking - Benguet Taldybulak Talas - Gold Fields Mirador - Corriente Resources Josemaria - Suramina Resources Mankayan - Bezant Resources Galeno - China Minmetals Ak-Sug - Golevskaya Mining Company El Arco - Southern Copper Gold Grade (g/t) Cloncurry - Ivanhoe Australia Low Political Risk High Political Risk Sinchao - Sinchao Metals Medium Political Risk Cobre Panama - Inmet Mining Duboashan - China Non-Ferrous Metal Sierra Gorda - Quadra Mining Yandera - Marengo Mining Mirdita - Tirex Resources Kuru Tegerek - China Shen Zhou Mining Tuwu-Yandong - Yunnan Copper Appendix 1: Major Cu-Au Deposits Ajax - Abacus Mining and Exploration Ilovitza - EurOmax Resources Taca Taca - Lumina Copper Hushamu - IMA Exploration Gameleira - Vale SA Top 50 Major Global Non-Producing Cu-Au Deposits by Gold Contained Copper Canyon - SpectrumGold (Novagold) Kodu - Government Of Papua New Guinea Taysan - Chase Resource Tong-La-Shan - Jinshan Gold Mines Nokomis - Duluth Metals - 0.2 0.4 0.6 0.8 1.0 1.2 1.4 Gold Grade (g/t) Source: Wellington West Capital Markets; Metals Economics Group 2008-2009; Fraser Mining Institute Survey for Political Risk; Transparency International Annual Report 2008 political risk (2nd largest pre-producing deposit in a low political risk jurisdiction globally) • Prosperity is one of the largest non-producing copper-gold deposits in a jurisdiction with low
  • 19.
    Appendix 2: KeyAccomplishments January 2010 • Received British Columbia Environmental Assessment Certificate for Prosperity March 2010 • Completed transaction to sell 25% Gibraltar Mine for ~$187 million May 2010 • Signed gold stream agreement with Franco-Nevada to sell 22% of future gold production from Prosperity for US$350 million June 2010 • BC Provincial Government granted Taseko a long-term mining lease for Prosperity, providing mineral tenure security July 2010 • Federal Panel submitted its report to the Government of Canada, findings in- line with Taseko’s expectations and Provincial Approval November 2010 • Prosperity project delayed due to Federal Government’s requested revisions January 2011 • Announcement of successful drill program at Aley • 2010 production: 92.3 million lbs of copper and 941,000 lbs of molybdenum February 2011 • Board approves a further capacity increase at the Gibraltar Mine, increasing annual copper production by ~60 million lbs to 180 million lbs • Revised Prosperity Project description submitted to CEAA
  • 20.
    Appendix 3: InvestmentSummary Share Structure Cash on Hand: ~C$212, as at December 31, 2011 Listed: TSX; TKO / NYSE Amex; TGB S&P/TSX Composite : S&P/TSX Small Cap Indices: S&P/TSX Global Mining : S&P/TSX Global Base Metals Shares 188.9 million Outstanding: Market $1.1 billion Capitalization: 52 Week C$7.27/C$3.27 ; US$7.23/US$3.31 High/Low: Scotia Capital, Raymond James, Wellington West, CIBC, Analyst Canaccord, Jennings Capital, Paradigm, BMO, TD Newcrest, Coverage: Credit Suisse, Dahlman Rose, MLV Target Range: $4.75- $14.25
  • 21.
    Appendix 4: ExperiencedManagement Team Russell Hallbauer, P. Eng - President & CEO and Director – Mr. Hallbauer is a professional engineer with over 35 years of mining experience. He has a strong background in open pit and underground mining, overseeing operating joint ventures and revitalizing mines to profitability. John McManus, P. Eng - Senior Vice President, Operations – Mr. McManus is a professional engineer who has worked in the BC mining industry for over 30 years. He has extensive experience in mine operation, mine engineering and environmental management. Ron Thiessen, CA - Chairman – Mr. Thiessen is an accredited public accountant in Canada. For over 25 years, he has concentrated on the development of venture capital financing for emerging public and private companies. He is a corporate officer and director of several publicly traded exploration and development companies. Peter Mitchell, CA - CFO – Mr. Mitchell is an accredited charter accountant in Canada. He has held leadership finance roles in the mining industry, as well as other industrial companies and more recently, in the for-profit education sector. Brian Battison - Vice President, Corporate Affairs – Mr. Battison is a public affairs specialist with over 25 years of experience in policy development, issue management and communication in both the private and public sectors. He has been a senior political and policy advisor in BC and has served as Interim President & CEO of the Mining Association of BC. Scott Jones, P. Eng - Vice President, Engineering – Mr. Jones has over 25 years of experience in the mining industry, including property valuations, mining feasibility studies and technical engineering support as well as 10 years in open pit operations and exploration in BC and the Yukon. Dave Rouleau, P. Eng - Vice President, Operations – Mr. Rouleau has over two decades of experience in the mining and oil and gas industries. He has extensive experience in mine operations and engineering in British Columbia and Alberta.
  • 22.
    Appendix 4: ExperiencedManagement Team Robert Rotzinger, P. Eng - General Manager, Projects – Robert is a mechanical engineer and has worked at the Gibraltar Mine since 1994 where he has taken on increasingly senior positions. He has been tasked with the management of diverse engineering, environmental, metallurgical and mining initiatives, such as the revamped molybdenum circuit and Copper Refinery project. He was a key member of the team that restarted operations at Gibraltar last year as well as participating in the development of the Gibraltar Joint Venture with Ledcor CMI Ltd. Tom Broddy - Manager, Engineering – Tom is a mining engineer with more than 19 years of experience in the mining industry. Prior to joining Taseko in 2006, he was Manager of Container Operations at Centerm container terminal in the Port of Vancouver. He spent 16 years at Tumbler Ridge working at both the Bullmoose and Quintette coal mines and has significant experience in mine engineering, blasting, pit operations and terminal management. Mary Ellen Thorburn – Corporate Controller – Mary Ellen is a Chartered Accountant, a Certified Public Accountant, and a Chartered Financial Analyst with more than 18 years of experience in the mining industry. Prior to joining Taseko, she has worked for Barrick Gold Corporation, UBS Securities, and PWC both in Canada and Internationally. Keith Merriam, P. Eng - Manager, Process Engineering – Keith is a P.Eng. and an Extractive Metallurgist with over 9 years experience in the Mining Industry, primarily in the area of Mineral Processing. He has worked primarily in technical, commissioning and operational roles, gaining experience in a variety of areas and taking on increasing levels of responsibility. Prior to joining Taseko in 2008, he was the Operations General Foreman at Hudson Bay Mining and Smelting’s Flin Flon Copper/Zinc Concentrator and prior to that, he held the position of Senior Mill Metallurgist. Katherine Gizikoff - Manager, Government and Environmental Affairs – Katherine is a professional agrologist with 28 years experience at coal and metal mines in Western Canada. Prior to joining Taseko in 2007, Katherine was consulting, providing environmental management, reclamation, research, and permitting services for the mining industry in BC. Prior to that, she was an environmental coordinator for Manalta Coal in Alberta, with earlier work experience at Elkview and Similco. Katherine has extensive experience with government-industry committees, facilitation, community liaison and consultation.
  • 23.
    Appendix 5: Reservesand Resources Prosperity Mineral Reserves @ C$5.50 NSR/t Cut-Off1 Size Grade Recoverable Metal Contained Metal M Tonnes Au (g/t) Cu (%) Au (M oz) Cu (B lb) Au (M oz) Cu (B lb) P&P reserves 830 0.41 0.23 7.7 3.6 11.0 4.2 M&I Resources 181 0.40 0.30 - - 2.3 1.1 Total 1,011 0.41 0.24 - - 13.3 5.3 Gibraltar Grade Recoverable Metal Contained Metal Category (at 0.20% Cu Size Cut-off) (Million Tons) Cu(%) Mo(%) Cu (Billions lbs) Cu (Billions lbs) P&P Reserves 459 0.315 0.008 2.6 2.9 M&I Resources* 959 0.298 0.008 - 5.7 1 The mineral resource and reserve estimations were completed by Taseko staff under the supervision of Scott Jones, P.Eng., Vice-President, Engineering and a Qualified Person under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation. The estimates for the reserves used long term metal prices of US$1.65/lb for copper and US$650/oz for gold and a foreign exchange of C$0.82 per US dollar.. A technical report was filed on www.sedar.com. 2 The resource and reserve estimation was completed by Gibraltar mine staff under the supervision of Scott Jones, P.Eng., Vice President, Engineering and a Qualified Person under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation. The estimates used long term metal prices of US$1.75/lb for copper and US$10.00/lb for molybdenum and a foreign exchange of US$0.80/C$1.00. A technical report will be filed on www.sedar.com.