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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000878518-05-000007.txt : 20050611
<SEC-HEADER>0000878518-05-000007.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050525144700
ACCESSION NUMBER:		0000878518-05-000007
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050519
FILED AS OF DATE:		20050525
DATE AS OF CHANGE:		20050525

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TASEKO MINES LTD
		CENTRAL INDEX KEY:			0000878518
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31965
		FILM NUMBER:		05856586

	BUSINESS ADDRESS:	
		STREET 1:		1020-800 W. PENDER STREET
		CITY:			VANCOUVER BC CANADA V6C 2V6
		STATE:			A1
		ZIP:			00000
		BUSINESS PHONE:		(604) 684-6365

	MAIL ADDRESS:	
		STREET 1:		1020-800 W. PENDER STREET
		STREET 2:		V6C 2V6
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tko6k_051905.htm
<DESCRIPTION>PRESS RELEASE MAY 19, 2005
<TEXT>
<html>
<head>
<title>Taseko Reports Second Fiscal Quarter Results</title>    </head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
  <div align="center">
    <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      &nbsp; <br>
      &nbsp; <br>
      <font size="3"><strong>UNITED STATES <br>
      SECURITIES AND EXCHANGE COMMISSION </strong></font><br>
      Washington, DC 20549 <br>
      &nbsp; <br>
      &nbsp; <br>
      <b><font size="4">FORM 6-K</font></b> <br>
      &nbsp; <br>
      &nbsp; <br>
      Report of Foreign Private Issuer <br>
      Pursuant to Rule 13a-16 or 15d-16 <br>
      of the Securities Exchange Act of 1934 <br>
      &nbsp; <br>
      &nbsp; <br>
      <b>CIK # 878518</b> <br>
      &nbsp; <br>
      &nbsp; <br>
      As at May 19, 2005 <br>
      &nbsp; <br>
      &nbsp; <br>
      <b> <u><font size="4">TASEKO MINES LIMITED</font></u></b> <br>
      <b>800 West Pender Street, Suite 1020</b> <br>
      <b>Vancouver</b> <b>, British Columbia</b> <br>
      <b>Canada</b> <b> V6C 2V6</b> <br>
      &nbsp; <br>
      &nbsp; <br>
      Indicate by check mark whether the registrant files or will file annual
      reports under cover Form 20-F or Form 40-F. <br>
      &nbsp; <br>
      Form 20-F...X.... Form 40-F......... <br>
      &nbsp; <br>
      Indicate by check mark if the registrant is submitting the Form 6-K in paper
      as permitted by Regulation S-T Rule 101(b)(1): ____ <br>
      &nbsp; <br>
      &nbsp; <br>
      Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper
      of a Form 6-K if submitted solely to provide an attached annual report to
      security holders. <br>
      &nbsp; <br>
      &nbsp; <br>
      Indicate by check mark if the registrant is submitting the Form 6-K in paper
      as permitted by Regulation S-T Rule 101(b)(7): ____ <br>
      &nbsp; <br>
      &nbsp; <br>
      Indicate by check mark whether by furnishing the information contained in
      this Form, the registrant is also thereby furnishing the information to
      the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
      Act of 1934. <br>
      &nbsp; <br>
      Yes ..... No ..... <br>
      &nbsp; <br>
      If &quot;Yes&quot; is marked, indicate below the file number assigned to
      the registrant in connection with Rule 12g3-2(b): 82- ________ <br>
      &nbsp; <br>
      Signatures <br>
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized. <br>
      &nbsp; <br>
      &nbsp; <br>
      By: /s/ Jeffrey R. Mason <br>
      Director and Chief Financial Officer <br>
      &nbsp; <br>
      Date: May 19, 2005 <br>
      &nbsp; <br>
      Print the name and title of the signing officer under his signature. <br>
      &nbsp; <br>
      ------------------- <br>
      <font size="3"><strong>Taseko Mines Limited </strong></font><br>
      <b>1020 - 800 W Pender Street</b> <br>
      <b>Vancouver</b> <b> BC</b> <br>
      <b>Canada</b> <b> V6C 2V6</b> <br>
      <b>Tel 604 684 - 6365 </b> <br>
      <b>Fax 604 684 - 8092</b> <br>
      <b>Toll Free 1 800 667 - 2114</b> <br>
      <b> www.tasekomines.com </b> </font></p>
    <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      <strong>TASEKO REPORTS SECOND FISCAL QUARTER RESULTS </strong></font></p>
    <p align="justify"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>May
      19, 2005, Vancouver, BC </b>&#45; Taseko Mines Limited (TSX Venture: TKO;
      AMEX: TGB) announces its financial results for the Company&#39;s second
      fiscal quarter - the three months ending March 31, 2005 - and an update
      of restart activities at the Gibraltar copper-molybdenum mine in south-central
      British Columbia. The Gibraltar mine is operated under a joint venture arrangement
      between Taseko&#39;s wholly owned subsidiary, Gibraltar Mines Ltd., and
      Ledcor Mining Ltd. The following should be read in conjunction with Taseko&#39;s
      Financial Statements and related Management Discussion and Analysis for
      the quarter ended March 31, 2005, filed on www.sedar.com. <br>
      &nbsp; <br>
      <strong>Second Quarter 2005 Highlights</strong> </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">-&nbsp;&nbsp;
      Gibraltar attained commercial production levels for copper and molybdenum
      concentrates by the end of the quarter. <br>
      -&nbsp;&nbsp; Copper production was 14,156,000 pounds during the quarter,
      84% of plan due primarily to unusually adverse weather conditions in January.
      During the quarter, 14,137,000 pounds of payable copper in concentrate was
      sold at an average realized selling price of US$1.45 per pound. <br>
      -&nbsp;&nbsp; Molybdenum production was 141,295 pounds during the quarter,
      63% of plan, caused by the delay in commissioning of a planned capital refurbishment
      of the molybdenum circuit until February. In the quarter, 77,660 pounds
      of molybdenum in concentrate was sold at an average net realized selling
      price of US$27.00 per pound. <br>
      -&nbsp;&nbsp; The British Columbia Labour Relations Board confirmed the
      validity of the Gibraltar-Ledcor Joint Venture, and the legitimacy of the
      union with which Ledcor has a collective agreement ratified in September
      2004. <br>
      &nbsp; <br>
      <strong>Results of Operations </strong></font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
      Company&#39;s loss for the second quarter of fiscal 2005 was $1.96 million,
      which is a decrease from the previous quarter&#39;s loss of $5.7&nbsp;million
      and the $7.0&nbsp;million loss in the second quarter of fiscal 2004. The
      loss relates mainly to lower than expected copper concentrate production
      and sales, as well as a delay in the commissioning of Gibraltar&#39;s upgraded
      molybdenum circuit. Commercial production at the Gibraltar mine commenced
      in the current quarter, consequently, there was a decline in the loss from
      the previous quarter when the Company was incurring substantial restart
      costs. At March 31, 2005, there was 10,602 Dry Metric Tonnes of copper concentrate
      inventory valued at $7.3 million, and 63,700 pounds of molybdenum in concentrate
      inventory, which has been assigned a $0 value for financial statements reporting
      purposes, but on a realizable selling price basis represents approximately
      $2.1 million. <br>
      &nbsp; <br>
      <strong>Gibraltar Mine Performance </strong></font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Quarter
      two is the first quarter of commercial production at Gibraltar, and planned
      production levels were not achieved until the end of the quarter. The copper
      circuit commenced initial operations in October 2004, and the first copper
      concentrate was shipped to an Asian smelter in December 2004. A major upgrade
      to the molybdenum circuit was started in the first quarter, and the circuit
      was commissioned midway through the second quarter in February. The first
      molybdenum in concentrate was sold in March 2005. <br>
      &nbsp; <br>
      During the second quarter 14,156,000 pounds of copper in concentrate was
      produced and 141,295 pounds of molybdenum in concentrate was produced. Molybdenum
      produced in February and March was 80% of plan as circuit commissioning
      was underway. <br>
      &nbsp; <br>
      Mining operations achieved the planned daily mining rate of 117,400 tons
      per day in November 2004 and maintained this production rate through the
      quarter ending March 31, 2005. The tons of ore mined were 15% higher and
      the average copper grade mined was 6% higher compared with the tons and
      grade contemplated by the original mine plan, as secondary enriched, near-surface
      material that was not included in the plan was mined during the period.
      Since mining has now moved into the primary ore in the pit, tons and grade
      of the material mined are now expected to be more consistent with original
      mine plan mineral reserve estimates. <br>
      &nbsp; <br>
      Crusher throughput, and consequently mill throughput, was adversely affected
      from October 2004 through January 2005 by the wet, fine supergene and oxidized
      near-surface material which was being treated. The challenges of this material
      were compounded by extremely cold, and then wet weather conditions in January.
      The copper recovery from this material was slightly better than expected
      (76.8% vs. plan 76.0%), but pounds of copper produced were down due to lower
      tons treated. Overall performance and recoveries are improving as the mining
      progresses into the primary ore. Grinding throughput has been adversely
      affected by the processing of coarser ore feed during February and March,
      as a result of the crushing and screening circuit not being optimized for
      the harder primary ore. Modifications to the crushing plant were well advanced
      at the end of the quarter and are scheduled to be completed in the third
      quarter. <br>
      &nbsp; <br>
      The following table is a summary of the operating statistics for the second
      quarter compared to plan. </font><br>
      &nbsp; </p>
  </div>
  <div align="center">
    <table class=MsoTableGrid border=.5 cellspacing=0 cellpadding=0  style=&#39;margin-left:5.4pt;border-collapse:collapse;border:none&#39;>
              <tr>
          <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;    background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
            <br>
            &nbsp; </td>
          <td width=85 valign=top style=&#39;width:63.75pt;border:solid windowtext 1.0pt;    border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
            <br> <b>Actual</b> </td>
          <td width=85 valign=top style=&#39;width:63.8pt;border:solid windowtext 1.0pt;    border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
            <br> <b>Plan</b> </td>
          <td width=85 valign=top style=&#39;width:63.8pt;border:solid windowtext 1.0pt;    border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
            <br> <b>Variance</b> </td>
          <td width=170 valign=top style=&#39;width:127.55pt;border:solid windowtext 1.0pt;    border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
            <br> <b>Comments</b> </td>
        </tr>
        <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Ore</b> <b> + Waste Mined (tons)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        10,568,500 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        10,800,000 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (231,500) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Ore</b> <b> milled (tons)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        2,802,200 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        3,564,000 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (761,800) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        Lower tons milled due to crushing &amp; screening problems in January
        and harder/coarser ore </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Stripping ratio</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        2.8 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        2.0 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.8 </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>&nbsp;</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Copper grade (%) </b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        0.328 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.314 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.014 </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Molybdenum grade (%) </b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        0.011 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.010 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.001 </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>&nbsp;</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Copper Recovery</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        76.8 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        76.0 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        0.8 </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Molybdenum Recovery</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        21.4 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        30.8 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (9.4) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        No production in January </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>&nbsp;</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Copper Production (lbs)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        14,156,000 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        17,010,300 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (2,854,300) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        Reduced tons milled </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Molybdenum Production (lbs)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        141,295 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        223,800 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (82,505) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        Moly circuit commenced production in February </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>&nbsp;</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Copper Production Cost, net of OPC<sup>(1)</sup> &amp; By product
          Credits </b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        US$1.18 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        US$0.78 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (US$0.40) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>OPC transport &amp; treatment</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        US$0.28 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        US$0.26 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (US$0.02) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Total cash costs of production</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        US$1.46 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        US$1.04 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (US$0.42) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Copper Sales (lbs payable)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        14,137,000 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        16,413,500 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (2,276,300) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
      <tr style=&#39;height:.2in&#39;>
        <td width=217 valign=top style=&#39;width:163.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
          <br> <b>Molybdenum Sales (lbs)</b> </td><td width=85 valign=top style=&#39;width:63.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;>
        <br>
        77,660 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        223,800 </td><td width=85 valign=top style=&#39;width:63.8pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        (146,140) </td><td width=170 valign=top style=&#39;width:127.55pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.2in&#39;><br>
        &nbsp; </td></tr>
    </table>
  </div>
  <p align="left"> <sup><font size="1" face="Verdana, Arial, Helvetica, sans-serif">(1)</font></sup><font size="1" face="Verdana, Arial, Helvetica, sans-serif">
    OPC - Off Property Costs are concentrate transportation, smelting and refining
    costs. </font><br clear=all style=&#39;page-break-before:always&#39;>
    <br>
    <font size="2" face="Verdana, Arial, Helvetica, sans-serif">There are no comparable
    figures from the previous quarter as commercial operations had not been achieved.</font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> Taseko is pleased
    to report that there has been no time lost to accidents since the October
    2004 start up. Manpower at the end of the quarter was 242 personnel, compared
    to the planned complement of 253. </font><br>
    &nbsp; <br>
    <strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Mineral Reserves
    and Resources </font></strong></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">According to a March 2005
    technical report by J. W. Hendry, P.Eng., and C.S. Wallis, P.Geo., of Roscoe
    Postle Associates Inc., estimated sulphide and oxide mineral resources on
    the property prior to the start of operations included measured resources
    of about 606.5 million tons grading 0.29% copper and 0.008% molybdenum and
    230.7 million tons of indicated resources grading 0.271% copper and 0.008%
    molybdenum. These mineral resources include the proven and probable reserves
    described below. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Based on the 12 year mine
    plan, proven and probable reserves are comprised of 163.5 million tons grading
    0.313% copper and 0.010% molybdenum of sulphide mineralization and 16.5 million
    tons of oxide mineralization at 0.148% copper. The sulphide reserves were
    estimated using a 0.20% copper cut-off and the oxide mineralization at a 0.10%
    acid soluble copper cut-off. The average stripping ratio over the life of
    the mine plan is 1.8:1. The forecast daily mining rate is 117,400 tons and
    the average mill throughput is projected to be 36,675 tons per day. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Production Forecast
    </strong></font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As a result of the delay
    in commissioning the molybdenum circuit and lower than planned mill throughput,
    the Company is updating its forecast metal production for the year. In the
    mine plan, the 2005 budget for copper and molybdenum production was 63,441,000
    pounds and 908,000 pounds, respectively. The forecast for the balance of the
    year is as follows: </font><br>
    &nbsp; </p>
  <div align="center">
    <table class=MsoTableGrid border=1 cellspacing=0 cellpadding=0  style=&#39;margin-left:5.4pt;border-collapse:collapse;border:none&#39;>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>&nbsp;</b> </td>
        <td width=89 valign=top style=&#39;width:66.75pt;border:solid windowtext 1.0pt;   border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Q1</b> </td>
        <td width=94 valign=top style=&#39;width:70.85pt;border:solid windowtext 1.0pt;   border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Q2</b> </td>
        <td width=95 valign=top style=&#39;width:70.9pt;border:solid windowtext 1.0pt;   border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Q3<sup>(1)</sup></b> </td>
        <td width=94 valign=top style=&#39;width:70.85pt;border:solid windowtext 1.0pt;   border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Q4<sup>(1)</sup></b> </td>
        <td width=95 valign=top style=&#39;width:71.25pt;border:solid windowtext 1.0pt;   border-left:none;background:#CCCCCC;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Total 2005</b> </td>
      </tr>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Copper (millions lbs)</b> </td><td width=89 valign=top style=&#39;width:66.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        12.1 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        14.2 </td><td width=95 valign=top style=&#39;width:70.9pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        16.1 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        16.2 </td><td width=95 valign=top style=&#39;width:71.25pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        58.6 </td></tr>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Molybdenum (thousands lbs)</b> </td><td width=89 valign=top style=&#39;width:66.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        0 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        141 </td><td width=95 valign=top style=&#39;width:70.9pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        193 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        207 </td><td width=95 valign=top style=&#39;width:71.25pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        541 </td></tr>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Copper production costs, net of OPC &amp; By product Credits
          </b> </td><td width=89 valign=top style=&#39;width:66.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        N/A </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$1.18 </td><td width=95 valign=top style=&#39;width:70.9pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.70 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.63 </td><td width=95 valign=top style=&#39;width:71.25pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.82 </td></tr>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>OPC transport &amp; treatment</b> </td><td width=89 valign=top style=&#39;width:66.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        N/A </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.28 </td><td width=95 valign=top style=&#39;width:70.9pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.28 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.28 </td><td width=95 valign=top style=&#39;width:71.25pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.28 </td></tr>
      <tr>
        <td width=204 valign=top style=&#39;width:153.0pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
          <br> <b>Total cash costs of production</b> </td><td width=89 valign=top style=&#39;width:66.75pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        N/A </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$1.46 </td><td width=95 valign=top style=&#39;width:70.9pt;border-top:none;border-left:none;   border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.98 </td><td width=94 valign=top style=&#39;width:70.85pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$0.91 </td><td width=95 valign=top style=&#39;width:71.25pt;border-top:none;border-left:   none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;><br>
        US$1.10 </td></tr>
    </table>
  </div>
  <p> <sup><font size="1" face="Verdana, Arial, Helvetica, sans-serif">(1)</font></sup><font size="1" face="Verdana, Arial, Helvetica, sans-serif">
    Q3 and Q4 costs projected at $30 US/lb Moly (by-product credit) and $0.81
    Canadian/US exchange rate. </font><br>
    &nbsp; <br>
    <strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Financial Results
    </font></strong></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">During
    the second quarter for the first time since restart, Gibraltar reported copper
    concentrate revenues of $25.4 million. Minesite operating costs were $23.5
    million, and treatment and transportation charges were $3.8 million. Sales
    of molybdenum were $2.5 million and were shown as by-product revenue, and
    a reduction of minesite operating costs. The average selling prices per pound
    realized in the quarter were US$1.45 for copper and net US$27 for molybdenum.
    </font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Total
    net operating costs for the quarter of $23.5 million included the cost of
    milling ($9.0 million), mining ($14.1 million), mine administration ($1.6
    million) and a concentrate inventory adjustment ($1.2 million). As this was
    the first quarter of commercial production, there were no similar expenditures
    in previous quarters. </font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Net
    expenses for the quarter were $0.8 million (before a credit of $1.2 million),
    compared to expenses of $3.1 million in the previous quarter and $6.8 million
    in the second quarter of fiscal 2004. The $1.2 million credit is an operating
    expense from the previous quarter that has been reclassified as capital equipment.
    </font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Administrative
    costs increased from the previous quarter. The main increases were in the
    areas of shareholder communications (Q1 2005 &#45; $52,822; Q2 2005 - $112,241),
    administrative salaries and office costs (Q1 2005 &#45; $164,316; Q2 2005
    &#45; $236,804) and stock based compensation (Q1 2005 &#45; $164,549; Q2 2005
    &#45; $392,697). Costs were higher in this quarter because of the increase
    in activity relating to the commencement of production. </font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Interest
    and other income was $1.9 million, while offsetting royalty expense amounted
    to $2.0 million, both principally related to the Red Mile Resources No. 2
    Limited Partnership. Foreign exchange gains from operations were $0.4 million.
    &nbsp; <br>
    Refinery Update <br>
    Feasibility level studies were completed in 2002 to assess the viability of
    constructing a copper refinery at Gibraltar, based on a hydrometallurgical
    process developed by Cominco Engineering Services Ltd. A refinery located
    at Gibraltar would produce cathode copper from copper concentrates at the
    site rather than sending these concentrates to an offshore smelter for treatment.
    <br>
    &nbsp; <br>
    With operations now underway at Gibraltar, the mine technical personnel are
    turning their focus to updating the refinery feasibility study, and this includes
    assessing competing technologies and refinery permitting conditions. The British
    Columbia Environmental Assessment (BCEA) Office has advised Taseko that the
    proposed refinery would not be reviewable under the BCEA Act because the refining
    process would be integrated with ore milling operations at, or in the vicinity
    of, the fully permitted Gibraltar mine and would be dedicated to mine operations
    at the site. <br>
    &nbsp; <br>
    <strong>Prosperity and Harmony Update </strong></font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
    Prosperity property, located 125 kilometres southwest of Williams Lake in
    south-central British Columbia, hosts a large gold&#45;copper deposit. To
    date, in excess of $55 million has been spent on exploration and geotechnical,
    engineering and environmental investigations, with most work done prior to
    2001. With current gold and copper prices, Taseko is in the process of reassessing
    the project. Discussions are on-going with local First Nation groups. <br>
    &nbsp; <br>
    The Company&#39;s Harmony gold project, located on Graham Island, off the
    west coast of British Columbia, hosts a large gold deposit. The Queen Charlotte
    Islands-Haida Gwaii, including the area surrounding the Harmony Gold Project,
    is subject to local first Nation peoples&#39; land claims which are subject
    to ongoing discussions. In addition, formal land use planning process for
    the Queen Charlotte Islands-Haida Gwaii, co-sponsored by the Province and
    the Haida, was initiated in mid-2003. At this time, recommendations from the
    land use table and terms of reference for further discussions are being finalized
    to be used by the BC government and the Haida for government to government
    negotiations. <br>
    &nbsp; <br>
    For additional details on Taseko and its properties, please visit the company&#39;s
    web site at www.tasekomines.com or contact Investor Services at 604-684-6365
    or in North America at 1-800-667-2114. <br>
    ----------------------------------- <br>
    &nbsp; <br>
    &nbsp; <br>
    Neither the TSX Venture Exchange nor the American Stock Exchange have approved
    or disapproved of the contents of this press release. </font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
    <font size="1">This release includes certain statements that may be deemed
    &quot;forward-looking statements&quot;. All statements in this release, other
    than statements of historical facts, that address estimated resource quantities,
    grades and contained gold, future mining results, exploration and/or 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, detailed feasibility and technical
    analyses, lower than expected grades and quantities of mineralization, mining
    rates and recovery, changes in the cost of energy 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&#39;s
    annual Form 20-F filing with the United States Securities Commission and its
    home jurisdiction filings that are available at www.sedar.com. </font></font></p>
  <p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Cautionary
    Note to U.S. Investors Concerning Estimates of Measured and Indicated Resources</font></p>
  <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
    <font size="1">This Company&#39;s disclosures will from time to time use the
    terms &#34;measured resources&#34; and &#34;indicated resources&#34;. Taseko
    advises U.S. investors that while these terms are recognized and required
    by Canadian regulations (under National Instrument 43-101 Standards of Disclosure
    for Mineral Projects), the U.S. Securities and Exchange Commission does not
    recognize them. U.S. investors are cautioned not to assume that any part or
    all of the mineral deposits in these categories will ever be classified as
    reserves. </font></font></p>
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