Taseko Announces Improved Economics for Yellowhead Copper Project

Stuart McDonald, President & CEO commented, “This new Technical Report establishes Yellowhead as a world class copper project in a tier one jurisdiction. With strengthening copper prices, the Project economics have improved significantly since the 2020 technical report. The Project now has a $2 billion NPV and the potential to become one of the largest copper mines in North America.”“It’s been just six years since we acquired Yellowhead for $16 million, and we’ve added an incredible...

VANCOUVER, 10/07/2025 (informazione.news - comunicati stampa - industria)

Stuart McDonald, President & CEO commented, “This new Technical Report establishes Yellowhead as a world class copper project in a tier one jurisdiction. With strengthening copper prices, the Project economics have improved significantly since the 2020 technical report. The Project now has a $2 billion NPV and the potential to become one of the largest copper mines in North America.”

“It’s been just six years since we acquired Yellowhead for $16 million, and we’ve added an incredible amount of value to the Project since then. Over the next few years, in parallel with the permitting process, we will also be advancing engineering, community engagement, copper offtake discussions, and project financing initiatives. The Yellowhead Project provides a unique opportunity as a longer-term growth option for Taseko and we will continue to methodically move the Project forward to create value for all stakeholders,” Mr. McDonald added.

Project Highlights:

The Yellowhead Project is located in central British Columbia, approximately 300 km southeast of the Company’s Gibraltar Mine and 150 km north of Kamloops, BC, a regional mining hub and home to many suppliers, consultants and contractors which service the mining industry. The Project benefits from excellent transportation infrastructure as a major highway passes 8 km north of the site, and the Company owns a rail siding nearby which provides easy access to the CN Rail transcontinental line.

Mining operations will be conducted from a single open pit using conventional truck and shovel mining techniques. The Yellowhead Project’s process flowsheet consists of a conventional SAG and ball milling circuit, followed by rougher flotation, regrinding of rougher concentrate, and a three-stage cleaner flotation circuit. Chalcopyrite is the dominant copper bearing mineral across the deposit, comprising more than 98% of the copper contained in the mineral reserves.

The Project would create significant economic activity to benefit surrounding communities, the Province of BC and Canada. In operation, Yellowhead would support about 590 direct jobs and approximately 1,120 indirect and induced jobs in the area. Total tax payments to the Provincial and Federal governments over the 25-year mine life are estimated at $3.2 billion.

Initial capital costs of $2.0 billion are estimated based on budgetary quotes for equipment and current pricing for materials, labour and services in British Columbia and reflect a pre-feasibility level of engineering and appropriate contingencies. The Project is also expected to benefit from the Canadian Federal Clean Technology Manufacturing (CTM) Investment Tax Credit for critical mineral extraction projects. This would result in approximately $540 million of investment tax credits, refundable to Taseko in year one of operation.

Operating cost estimates are based on a combination of vendor supplied quotes and Taseko’s experience operating the Gibraltar Mine which uses similar mining and processing methods.

In addition to updated project costing and new tax rules, other changes from the 2020 technical report include updated long-term metal prices to reflect current market consensus, and a new transmission line design to supply power to site.

The following is a summary of the key economic results:

Permitting and Next Steps

With the recent acceptance of the initial project description, the Project has formally commenced the Provincial and Federal environmental assessment processes. The Project is also subject to the Simpcw First Nation’s assessment process which is in its initial phases. The Company’s recent focus has been on community engagement, and a significant amount of technical and environmental studies have also been completed. Additional environmental baseline studies, site investigation, modelling, engineering studies and community engagement will be required over the next few years to support Project permitting initiatives.

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

Stuart McDonald
President and CEO

Yellowhead Mineral Reserves

Notes:

Yellowhead Mineral Resource Estimate

Notes:

Qualified Persons and 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Richard Weymark, P.Eng., MBA. The Technical Report was prepared for Taseko Mines Limited, a producing issuer, under the supervision of Richard Weymark, P.Eng., MBA, Jeremy Guichon, P.Eng. and Adil Cheema, P.Eng. Mr. Weymark is employed by the company as Vice President, Engineering, Mr. Guichon as Director, Mine Engineering and Mr. Cheema as Director, Process Engineering. All three are Qualified Persons as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects published by the Canadian Securities Administrators. Yellowhead is a greenfield project which has commenced the formal environmental assessment and permitting processes.

Additional information regarding data verification, exploration information, known legal, political, environmental or other risks that could affect development of the Yellowhead project or its mineral resources or reserves, can be found in the Technical Report, which is available on SEDAR+.

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

Caution Regarding Forward-Looking Information

This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:

For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedarplus.ca, including the “Risk Factors” included in our Annual Information Form.