-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GtyAI4knyuZfTdlcuK4/EBHe7kJUDhXHWTm57Kqr7D4Oc6UTYt5ji6EvtrmzOpjh
 CCQEDrNMCNy5pCr1mYRJdQ==

<SEC-DOCUMENT>0000878518-05-000022.txt : 20051230
<SEC-HEADER>0000878518-05-000022.hdr.sgml : 20051230
<ACCEPTANCE-DATETIME>20051230153838
ACCESSION NUMBER:		0000878518-05-000022
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051230
FILED AS OF DATE:		20051230
DATE AS OF CHANGE:		20051230

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:		051294532

	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_123005.htm
<DESCRIPTION>PRESS RELEASE DECEMBER 30, 2005
<TEXT>
<html>
<head>
<title>Taseko Reports Year End Results &amp; Plans for Fiscal 2006</title>    </head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
  <div align="center">
    <p><br>
      &nbsp; <br>
      &nbsp; <br>
      <font size="3" face="Verdana, Arial, Helvetica, sans-serif"><strong>UNITED
      STATES <br>
      SECURITIES AND EXCHANGE COMMISSION </strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      Washington, DC 20549 <br>
      &nbsp; <br>
      &nbsp; <br>
      <b><font size="3">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 December 30, 2005 <br>
      &nbsp; <br>
      &nbsp; <br>
      <b> <u><font size="3">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: December 30, 2005 <br>
      &nbsp; <br>
      Print the name and title of the signing officer under his signature. <br>
      &nbsp; <br>
      <strong><font size="3">Taseko Mines Limited </font></strong><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><br>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif">&nbsp; <strong><font size="3"><br>
      <font size="2">TASEKO REPORTS YEAR END RESULTS &amp; PLANS FOR FISCAL 2006</font></font>
      </strong> </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>December
      30, 2005, Vancouver, BC </b>&#45; Taseko Mines Limited (TSX Venture: TKO;
      AMEX: TGB) announces its financial results for the Company&#39;s fiscal
      year ending September 30, 2005, including production and sales for the <b>Gibraltar
      Mine</b> located near Williams Lake in south-central British Columbia. </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
      <strong>Overview &amp; Highlights </strong></font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Taseko
      had after tax earnings of $24.4 million, or $0.23 per share ($0.21 per share
      fully diluted) in the year ended September 30, 2005. <br>
      -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Gibraltar mine recorded
      revenues of $71.9 million from sales of copper concentrate, and $15.7 million
      was realized from sales of molybdenum. Revenue was recorded for nine months
      of commercial production ending September 30, 2005. <br>
      -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The average price for sales
      of copper realized over the year was US$1.48 per pound and for molybdenum
      was US$31 per pound. <br>
      -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copper concentrate production
      for the year was 96,208 wet metric tonnes (&#34;WMT&#34;), or 54.8 million
      pounds of copper (93% of the forecast as revised at the end of the second
      quarter). <br>
      - </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp
      Copper concentrate sales for the year were 77,695 WMT, or 44.3 million pounds
      of copper.</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An inventory of 18,258 WMT of copper
      concentrate, or 10.4 million pounds of copper, remained at year end, of
      which 14,500 WMT of inventory, or 8.3 million pounds of copper, was in a
      storage facility at the dock as there were no ships available at that time
      to transport it to smelters in Asia.<br>
      </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbspMolybdenum
      in concentrate production during the year was 427,000 pounds (80% of the
      forecast as revised at the end of the second quarter).<br>
      </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbspMolybdenum
      in concentrate sales over the year were 418,016 gross pounds.</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      - &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Molybdenum in concentrate inventory
      at year end was 9,000 pounds. </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Results
      of 2005 Operations &amp; Plans for 2006 </strong></font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Gibraltar
      Mine </strong></font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
      Gibraltar mine is operated under an agreement between Taseko&#39;s wholly
      owned subsidiary, Gibraltar Mines Ltd., and Ledcor CMI Ltd. The Gibraltar
      mine reopened in October 2004 as a copper producer with a 12-year mine plan.
      The first fiscal quarter was largely a restart period and commercial copper
      concentrate production commenced on January 1, 2005. After the completion
      of an upgrade to the molybdenum circuit near the end of the second fiscal
      quarter, the mine commenced molybdenum concentrate production. </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">All
      mining in fiscal 2005 took place in the Pollyanna stage 4 pit: 12.4 million
      tons of ore grading 0.314% copper was mined with 0.9 million tons in live
      inventory at year end and 11.5 million tons processed; an additional 2.2
      million tons of low grade sulphide material and 2.0 million tons of oxide
      ore were stockpiled for later treatment. The mined tons and grade reconciles
      with the estimated reserve. </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A
      reserve update was completed in December 2005, increasing the proven and
      probable reserves for Gibraltar as of October 1, 2005 by 30%, from 145 million
      tons to 194 million tons.</font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
      Further definition drilling and economic analyses will be undertaken in
      2006 to upgrade additional resources to reserves. In parallel, studies are
      underway to consider the opportunity to expand mill production by 25%. </font></p>
    <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>2005
      Performance </strong></font></p>
    <p align="justify"><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 updated its production forecast
      for the year at the end of the second quarter (March 31, 2005). The following
      table is a summary of the operating statistics for the year compared to
      this revised forecast. </font><br>
      &nbsp; </p>
    </div>
</div>
<div align="justify" class=Section2>
<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 width=624  style=&#39;width:6.5in;margin-left:19.6pt;border-collapse:collapse;border:none&#39;>
    <tr>
      <td width=624 colspan=5 valign=top style=&#39;width:6.5in;border:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <div align="center"><br>
          <b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gibraltar</font></b>
          <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b> Fiscal
          Year 2005 Production</b> <br>
          <b>October 1, 2004 to September 30, 2005</b> </font></div></td>
    </tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        &nbsp; </td><td width=86 valign=top style=&#39;width:.9in;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>
      <b>Actual</b> </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      <b>Revised Forecast</b> </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      <b>Variance</b> </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      <b>Comments</b> </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Ore + waste mined (tons) </td><td width=86 valign=top style=&#39;width:.9in;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>
      39,992,000 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      41,658,000 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -4% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Mining rate adversely impacted by unscheduled maintenance on the shovel
      fleet, as well as truck availability. </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Ore milled (tons) </td><td width=86 valign=top style=&#39;width:.9in;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>
      11,484,000 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      11,913,000 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -4% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Lower mill throughput due to poor crusher availability and grinding circuit
      productivity. </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Stripping ratio </td><td width=86 valign=top style=&#39;width:.9in;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>
      2.31 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      2.35 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -2% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      &nbsp; </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper grade (%) </td><td width=86 valign=top style=&#39;width:.9in;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>
      0.314 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      0.306 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      +3% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      &nbsp; </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Molybdenum grade (% MoS <sub>2</sub>) </td><td width=86 valign=top style=&#39;width:.9in;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>
      0.017 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      0.016 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      +6% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      &nbsp; </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper recovery (%) </td><td width=86 valign=top style=&#39;width:.9in;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>
      76.2 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      80.4 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -5% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Lower copper recovery due to ore variability and higher amounts of secondary
      mineralization than expected. </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Molybdenum recovery (%) </td><td width=86 valign=top style=&#39;width:.9in;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>
      23.1 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      35.2 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -35% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Molybdenum recovery was low as the new circuit was established. </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper production (lb) </td><td width=86 valign=top style=&#39;width:.9in;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>
      54,785,347 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      58,600,000 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -7% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Below forecast throughput and recovery. </td></tr>
    <tr>
      <td width=173 valign=top style=&#39;width:130.05pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Molybdenum production (lb) </td><td width=86 valign=top style=&#39;width:.9in;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>
      427,059 </td><td width=86 valign=top style=&#39;width:64.85pt;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>
      541,000 </td><td width=84 valign=top style=&#39;width:63.35pt;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>
      -20% </td><td width=193 valign=top style=&#39;width:144.95pt;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>
      Below forecast throughput and recovery. </td></tr>
  </table>
  <br>
  &nbsp;
  <table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 width=425  style=&#39;width:318.95pt;margin-left:90.45pt;border-collapse:collapse;border:  none&#39;>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=425 colspan=2 valign=top style=&#39;width:318.95pt;border:solid windowtext 1.0pt;   padding:0in 5.4pt 0in 5.4pt&#39;>
        <div align="center"><br>
          <b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gibraltar</font></b>
          <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b> Commercial
          Production</b> <br>
          <b>January 1, 2005 to September 30, 2005</b> </font></div></td>
    </tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper production (lb) </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>
      42,675,438 </td></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper sales (lb) </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>
      39,584,722 </td></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Molybdenum production (lb) </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>
      427,059 </td></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Molybdenum sales (gross lb) </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>
      418,016 </td></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Copper production costs, net of molybdenum, per lb of copper </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$0.87 </td></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Treatment and transportation cost per lb of copper </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></tr>
    <tr style=&#39;page-break-inside:avoid&#39;>
      <td width=331 valign=top style=&#39;width:248.1pt;border:solid windowtext 1.0pt;   border-top:none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <br>
        Total cash cost per lb of copper </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$1.15 </td></tr>
  </table>
  <p><br>
    <font size="2" face="Verdana, Arial, Helvetica, sans-serif">There was no time
    loss accidents during the year ended September 30, 2005. At the end of the
    fiscal year, the Gibraltar operation employed 248 people. <br clear=all style=&#39;page-break-before:always&#39;>
    <br>
    <strong>Mineral Reserves </strong></font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A detailed review
    of the geological model, confirmation of pit wall locations established in
    previous mine optimization studies, and an analysis of current price and mining
    cost projections allowed for expansion of the previously defined pits, specifically,
    at the PGE Connector and Granite Lake deposits. As a result, the overall proven
    and probable reserves increased by 30%, from 149 million tons remaining after
    production to September 30, 2005, to 194 million tons (Taseko News Release
    dated December 12, 2005). The additional mine production and scheduling plans,
    although developed, have not yet been formalized and approved by the board
    of directors. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Further definition
    drilling and economic analysis will be undertaken in 2006 with the objective
    of upgrading additional resources into the reserve category. The drilling
    program will be focused on defining this resource between the existing pits
    and tying together the extensive mineralization zones. In anticipation of
    a further increase in the mineral reserves, an engineering study has been
    initiated to evaluate the economics of expanding the mill production rate
    by 25%. This would include an assessment of the capital investment required
    to increase grinding and flotation capacities and the fleet of mining equipment.
    </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Refinery
    Update </strong> </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">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 concentrate at the site rather than sending these
    concentrates to an overseas smelter for treatment, which would result in an
    estimated operating cost saving to Gibraltar of US$0.20/lb of copper produced.
    </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">With mining operations
    now underway at Gibraltar, mine technical personnel have been re-assessing
    the refinery project. An updated refinery feasibility study is expected to
    be completed in the near term, but the immediate focus is to increase the
    reserves and evaluate expanding the mill as these will affect the refinery
    project&#39;s economics. The British Columbia Environmental Assessment (&#34;BCEA&#34;)
    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 of the fully permitted Gibraltar mine. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Production
    Forecast for Fiscal 2006</strong> </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The forecasted
    copper and molybdenum production for 2006 are 60.1 million pounds and 874,000
    pounds, respectively. The forecast by quarter is as follows: <br>
    &nbsp; </font> </p>
  <table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0  style=&#39;margin-left:5.4pt;border-collapse:collapse;border:none&#39;>
    <tr> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;padding:   0in 5.4pt 0in 5.4pt&#39;></font><br>
      <b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">&nbsp;</font></b>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font>
      <td width=68 style=&#39;width:50.85pt;border:solid windowtext 1.0pt;border-left:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        <b>Q1 </b> </font></td>
      <td width=68 style=&#39;width:50.9pt;border:solid windowtext 1.0pt;border-left:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        <b>Q2</b> </font></td>
      <td width=68 style=&#39;width:50.9pt;border:solid windowtext 1.0pt;border-left:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        <b>Q3</b> </font></td>
      <td width=68 style=&#39;width:50.9pt;border:solid windowtext 1.0pt;border-left:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        <b>Q4 </b> </font></td>
      <td width=68 style=&#39;width:50.9pt;border:solid windowtext 1.0pt;border-left:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        <b>Total 2006</b> </font></td>
    </tr>
    <tr>
      <td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;border-top:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        Copper (millions lb) </font></td>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.85pt;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;></font><br>
      13.4 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      15.2 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      15.7 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      15.8 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      60.1 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font></tr>
    <tr>
      <td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;border-top:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        Molybdenum (thousands lb) </font></td>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.85pt;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;></font><br>
      200 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      220 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      227 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      227 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      874 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font></tr>
    <tr>
      <td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;border-top:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        Copper production costs, net of molybdenum credits*, per lb of copper
        </font></td>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.85pt;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;></font><br>
      US$1.03 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.81 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.81 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.80 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.83 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font></tr>
    <tr>
      <td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;border-top:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        OPC transport &amp; treatment per lb of copper </font></td>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.85pt;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;></font><br>
      US$0.30 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.34 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.34 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.34 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$0.34 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font></tr>
    <tr>
      <td width=285 style=&#39;width:213.55pt;border:solid windowtext 1.0pt;border-top:   none;padding:0in 5.4pt 0in 5.4pt&#39;>
        <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
        Total cash costs of production per lb of copper </font></td>
      <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.85pt;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;></font><br>
      US$1.33 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$1.15 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$1.15 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$1.14 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><td width=68 style=&#39;width:50.9pt;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;></font><br>
      US$1.17 <font size="2" face="Verdana, Arial, Helvetica, sans-serif"></td></font></tr>
  </table>
  <p> *Excludes mining equipment lease costs but includes contractor overhead
    costs <br>
    Off Property Costs (&#34;OPC&#34;) are concentrate transportation, smelting
    and refining costs </p>
  <p> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">The forecast
    production cost for 2006 is based on a molybdenum sales price of US$20 per
    pound (molybdenum credit); an increase in copper treatment costs of US$0.06
    per pound as per the treatment contract schedule; re-scheduling of pit production
    including additional costs for stripping; and higher estimated input costs.
    </font> </p>
  <h2> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Prosperity
    Project</strong></font></h2>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In November 2005,
    work was re-initiated on the Prosperity Copper-Gold Project. Taseko holds
    a 100% interest in the Prosperity property, which encompasses 196 mineral
    claims covering approximately 85 square kilometres, located 125 kilometres
    southwest of the City of Williams Lake in south-central British Columbia.
    The property hosts a large porphyry copper-gold deposit amenable to large-scale
    open pit mining. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Taseko carried
    out extensive exploration, engineering, mine planning, environmental, and
    socio-economic studies on the Prosperity project prior to 2001, including
    two years in the British Columbia Environmental Assessment (&quot;BCEA&quot;)
    process. In 2005, Taseko was granted an extension order for the Prosperity
    Project Application under the BCEA process until April 30, 2007. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Taseko technical
    staff are currently reviewing previous feasibility studies and re-assessing
    the project economics based on new technologies, concepts, and innovative
    approaches to mine development. This includes re-examining optimal mining
    rates and mining equipment size, analyzing the economics of constructing and
    operating a single line mill rather than multiple smaller lines, and evaluating
    the potential improvements which could be realized with state-of-the-art metallurgical
    technologies such as large tank flotation circuits and expert computerized
    mill control systems. The Company is also reassessing major infrastructure
    plans, such as the power-line route, to determine if there are synergies to
    be achieved with the other communities of interest in the area. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Financial
    Results </strong></font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Taseko had after-tax
    earnings of $24.4 million, or $0.23 per share ($0.21 per share fully diluted
    [1]) in the year ended September 30, 2005 compared to a loss of $81.4 million,
    or $1.09 per share, in fiscal 2004. <br>
    Earnings in 2005 also include pre-tax earnings of $6.8 million and current
    and future tax recoveries of $4.1 million and $13.4 million, respectively,
    compared to $23.7 million of tax expense in fiscal 2004. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gibraltar recorded
    revenues of $71.9 million from sales of copper concentrate, and $15.7 million
    was realized from sales of molybdenum. Revenue was recorded for nine months
    of commercial production ending September 30, 2005. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Total production
    costs for the year were $57.8 million. Costs of production include $33.8 million
    for mining; $23.4 million for milling; $5.7 million for mine administration;
    $0.3 million in royalties; and $2.4 million for molybdenum treatment expenses.
    This also includes a reduction of $7.8 million related to a build up of copper
    concentrate inventory. Total treatment, refining and transportation costs
    for the year were $13.5 million. Amortization expense was $2.7 million. </font></p>
  <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Additional information
    is provided in Taseko&#39;s Management Discussion and Analysis and Financial
    Statements for the fiscal year ended September 30, 2005. Download these documents
    from the Company&#39;s website www.tasekomines.com or from www.sedar.com.
    For further details on Taseko Mines Limited, please visit the website at contact
    Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
    <br>
    &nbsp; <br>
    Russell Hallbauer <br>
    <i>President and CEO</i> <br>
    &nbsp; <br>
    The TSX Venture Exchange and the American Stock Exchange have not approved
    or disapproved of the contents of this press release. <br>
    &nbsp; <font size="1"><br>
    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, 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&#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. <br>
    &nbsp; </font></font></p>
</div>
<div align="justify">
  <div> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font>
    <hr align=left size=1 width="33%">
    <div id=ftn1> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
      <font size="1">[1] Diluted earnings (loss) per share is calculated using
      the treasury stock method. Under the treasury stock method, the weighted
      average number of common shares outstanding used for the calculation of
      diluted earnings per share includes the underlying common shares to the
      tracking preferred shares and convertible debenture on an if-converted basis
      and assumes that the proceeds to be received on the exercise of dilutive
      share options and warrants are used to repurchase common shares at the average
      market price during the period. </font><br>
      &nbsp; </font> </div>
  </div>  </div></body>  </html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
