Taseko Drills 510 Feet of 0.42% Copper Equivalent, Including 240 Feet of 0.68% Copper Equivalent in New Copper/Gold/Silver Zone at Gibraltar Mine

VANCOUVER, Sept. 20, 2016

DDH 2015-001 was drilled to test the total thickness of mineralization presented by three drill holes drilled in 1992. There is evidence which indicates that Gibraltar has a large, high-grade core that remains to be discovered, to the northwest and at reasonable depth. The three holes illustrated in the table below all terminated in mineralization at a depth of between 800 and 900 feet.  None of the core was assayed for gold at that time.

Historical Intersections
DDH 92-26 contains 305 feet of 0.50% Cu, last 45 feet returned 0.90% Cu
DDH 92-70 contains 220 feet of 0.61% Cu, last 73 feet returned 0.68% Cu
DDH 92-71 contains 240 feet of 0.41% Cu, last 250 feet returned 0.40% Cu

Russell Hallbauer, President and CEO of Taseko, stated, "We are extremely excited about the grades and intersection widths we have encountered in this most recent drill hole.  The new geological information gained was an important consideration for our recently announced purchase of adjacent mineral claims."

"Not only do copper grades appear to be dramatically increasing towards the northwest, and at depth, the historical drill holes were never assayed for gold. With gold and silver replacing molybdenum in the mineralized zones, the copper equivalent grade will increase, compared to that of our current resources and reserves."

Mr. Hallbauer continued, "Based on historical and 2015 drill results, we have initiated an exploration work program and will commence drilling with an initial six holes, totaling approximately 15,000 feet, to better define and expand this new discovery.  We do not believe the core of the new zone has been found, as world class porphyries like Gibraltar usually exhibit links between the deeper magmatic source ores upwards through transitional porphyry systems.  Our present ore deposits on the Gibraltar property show indications of this vertical evolutionary relationship.  Up until this time, however, we have not completely evaluated the overall potential for deeper mineralization with increased grades beyond those we are presently mining."

Assay summaries for DDH 2015-001; 1992-26; 1992-70; 1992-71