<SEC-DOCUMENT>0001062993-11-003249.txt : 20110812
<SEC-HEADER>0001062993-11-003249.hdr.sgml : 20110812
<ACCEPTANCE-DATETIME>20110812172132
ACCESSION NUMBER:		0001062993-11-003249
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110811
FILED AS OF DATE:		20110812
DATE AS OF CHANGE:		20110812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TASEKO MINES LTD
		CENTRAL INDEX KEY:			0000878518
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31965
		FILM NUMBER:		111032333

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1020
		STREET 2:		800 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2V6
		BUSINESS PHONE:		604-684-6365

	MAIL ADDRESS:	
		STREET 1:		SUITE 1020
		STREET 2:		800 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2V6
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUE
<TEXT>
<HTML>
<HEAD>
<TITLE>TASEKO MINES LIMITED: Form 6-K - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">
<hr noshade align="center" width="100%" size=3 color="black">


<p align="center"><font size="5"><strong>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</strong></font><br>
  Washington, D.C. 20549</p>

<p align="center"><b><font size="5">FORM 6-K</font></b></p>
<p align="center"><b>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
  OR 15d-16 <br>
  UNDER THE SECURITIES EXCHANGE ACT OF 1934</b></p>
<p align="center">For the month of <b>AUGUST 11, 2011</b></p>

<p align="center">Commission File Number: <b>001-31965</b></p>

<p align="center"><b><u><font size=5>TASEKO MINES LIMITED</font></u></b> <br>(Translation of registrant's name into English) </p>

<p align="center"><b><u>1500, 1040 West Georgia Street, Vancouver, BC V6E 4H1</u></b><br>(Address of principal executive offices) </p>

<p align="center">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</p>
<p align="center">[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 20-F &nbsp;&nbsp;[ x ] Form 40-F</p>

<p align="center">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): [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]
</p>



<p align="center"> 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): [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]
</p>



<p align="center">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.</p>

<p align="center">Yes [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] No [ x ]</p>

<p align="center"> If &quot;Yes&quot; is marked, indicate below the file number
  assigned to the registrant in connection with Rule 12g3-2(b): 82-
  _________
</p>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<p align="center"><b><u>SUBMITTED HEREWITH</u></b></p>

<p align="left"><u>Exhibits</u></p>

<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
<tr><td width="5%" valign="top" bgcolor="#EEEEEE">&nbsp;</td><td width="5%" valign="top" bgcolor="#EEEEEE"><a href="exhibit99-1.htm">99.1</a></td><td bgcolor="#EEEEEE"><a href="exhibit99-1.htm">Press Release August 11, 2011</a></td></tr>
<tr><td>&nbsp;</td></tr>
</table>

<p>&nbsp;</p>

<hr noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<p align="center"><strong><u>SIGNATURES</u></strong></p>

<p align="justify">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.</p>

<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
	<tr>
		<td width="50%" valign="top">&nbsp;</td>
		<td colspan="2" valign="top"><b>TASEKO MINES LIMITED</b></td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td colspan="2" valign="top">(Registrant)</td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td>&nbsp;</td>
	</tr>
	<tr>
		<td valign="top">Date: August 11, 2011</td>
		<td valign="top">By:</td>
		<td><i>/s/ Russell E. Hallbauer</i></td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td><hr noshade align="center" width="100%" size=1 color="black"> </td>
	</tr>
	<tr>
		<td valign="top">&nbsp;</td>
		<td valign="top">&nbsp;</td>
		<td>Russell E. Hallbauer</td>
	</tr>
	<tr>
		<td width="50%" valign="top">&nbsp;</td>
		<td width="5%" valign="top">Title:</td>
		<td>President & CEO</td>
	</tr>
</table>

<p>&nbsp; </p>

<hr noshade align="center" width="100%" size=5 color="Black"></BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE AUGUST 11, 2011
<TEXT>
<HTML>
<HEAD>
   <TITLE>TASEKO MINES LIMITED: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<IMG
      src="tasekologo.jpg" alt=""
      border=0></TD>
  </TR>
  <TR vAlign=top>
    <TD align=right><I>Building wealth through developing and operating major
      copper &amp; gold mines </I></TD>
  </TR>
</TABLE>
<P align=center><B>TASEKO ANNOUNCES SECOND QUARTER 2011 RESULTS</B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=2 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left>This release should be read with the unaudited financial
      statements and management&#146;s discussion and analysis available at <U><font color="#0000FF">www.tasekomines.com</font> </U>and filed on <U><font color="#0000FF">www.sedar.com</font></U>. Our financial results are prepared in
      accordance with IFRS and expressed in Canadian dollars, unless otherwise
      noted. Sales and production volumes for the Company&#146;s 75%-owned Gibraltar
      mine are presented on a 100% basis unless otherwise indicated.  </TD>
  </TR></TABLE></DIV>
<P align=justify><B>August 11, 2011, Vancouver, BC &#150; </B>Taseko Mines Limited
(TSX: TKO; NYSE Amex: TGB) announces adjusted net earnings<SUP>1 </SUP>of $7.3
million, or $0.04 per share, compared to $0.8 million reported in the second
quarter of 2010.</P>
<P align=justify><B>Highlights</B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Operating profit<SUP>1 </SUP>was $11.8 million in the second quarter
  compared to $12.8 million in the second quarter of 2010. </P>
  <LI>
  <P>The Company&#146;s share of Gibraltar&#146;s copper production and sales volumes for
  the second quarter 2011 was 15.0 million lbs and 10.7 million lbs,
  respectively. </P>
  <LI>
  <P>Taseko&#146;s 75% share of inventory at quarter end was 9.0 million lbs of
  copper metal. </P>
  <LI>
  <P>Adjusted net earnings<SUP>1 </SUP>for the second quarter were $7.3 million,
  an increase over adjusted net earnings of $0.8 million for the prior-year
  period. </P>
  <LI>
  <P>Total cash costs of production were US$2.32/lb. Higher costs resulted from
  maintenance and consumable costs, a strengthened Canadian dollar, combined
  with reduced metal production in the quarter. </P>
  <LI>
  <P>The Company purchased put options for approximately 90% of its 75% share of
  Gibraltar&#146;s 2012 copper production, ensuring a minimum selling price of
  US$3.50/lb. </P>
  <LI>
  <P>Engineering, procurement and construction for Gibraltar Development Plan 3
  (&#147;GDP3&#148;) is well underway and the project is on track for scheduled completion
  in December 2012. </P>
  <LI>
  <P>New Prosperity is expected to enter into the Federal environmental review
  process shortly. </P>
  <LI>
  <P>Advancement of the Aley Niobium project continues, with a completed
  feasibility study expected in 2012. </P></LI></UL>
<P align=justify>Russell Hallbauer, President and CEO of Taseko, remarked
&#147;<I>Even with the volatility in the financial markets, Taseko remains positioned
for growth. Not only are our near term projects fully financed, our hedging
strategy ensures minimum price levels for the next 16 months.&#148;</I></P>
<P align=justify><EM>______________________________________<BR></EM><SUP>1
</SUP>Adjusted net earnings, operating profit and cash margins are non-GAAP
financial performance measures. See pages 19-22 of the MD&amp;A.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">15<SUP>th </SUP>Floor - 1040 West Georgia St,
      Vancouver BC Canada V6E 4H1</TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
    <TD align=center width="60%">Tel 778 373 4533&nbsp;&nbsp;&nbsp;Fax 778 373
      4534&nbsp;&nbsp;&nbsp;Toll Free 1 877 441 4533</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">www.tasekomines.com </TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<IMG
      src="tasekologo.jpg" alt=""
      border=0></TD>
  </TR>
  <TR vAlign=top>
    <TD align=right><I>Building wealth through developing and operating major
      copper &amp; gold mines </I></TD>
  </TR>
</TABLE>
<P align=justify>Mr. Hallbauer continued, <I>&#147;Our management team has been
working diligently on numerous projects during the past three months; these
projects will deliver significant value to our shareholders. GDP3 is well
advanced, with all major mine and milling equipment secured, delivery dates set,
and construction activity has commenced.</I></P>
<P align=justify><I>Initiatives at Aley will progress the project into an
inferred resource shortly, with a feasibility study expected to be underway by
the end of the year. </I></P>
<P align=justify><I>And finally, we have been working closely with the Federal
and Provincial Governments and anticipate the New Prosperity Project to enter
the Federal environmental review process shortly.&#148;</I></P>
<P align=justify><B>Summary Financial Results</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid" noWrap align=right width="23%"
    colSpan=4><B>Three months ended</B> </TD>
    <TD style="BORDER-TOP: #000000 1px solid" noWrap align=right width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid" noWrap align=right width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1px solid" noWrap align=right width="23%"
    colSpan=4><B>Six months ended</B> </TD>
  <TD style="BORDER-TOP: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD noWrap align=right width="10%">&nbsp; </TD>
    <TD noWrap align=right width="2%" >&nbsp;</TD>
    <TD noWrap align=right width="1%" >&nbsp;</TD>
    <TD noWrap align=right width="10%"><B>June 30,</B> </TD>
    <TD noWrap align=right width="2%" >&nbsp;</TD>
    <TD noWrap align=right width="1%" >&nbsp;</TD>
    <TD noWrap align=right width="10%">&nbsp; </TD>
    <TD noWrap align=right width="2%" >&nbsp;</TD>
    <TD noWrap align=right width="1%" >&nbsp;</TD>
    <TD noWrap align=right width="10%"><B>June 30,</B> </TD>
  <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>(Cdn$ in
      thousands, except per share amounts) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right
      width="10%"><B>2011</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right
      width="10%"><B>2010</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right
      width="10%"><B>2011</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right
      width="10%"><B>2010</B> </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff><B>Revenues</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;48,349</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;56,453</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;107,150</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;131,961</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Operating
      Profit</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;11,756</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;12,802</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;30,360</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;37,311</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff><B>Net (loss) earnings</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;(1,113</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;44,783</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;4,640</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;123,079</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Unrealized (gain)/loss on derivative instruments </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">10,292 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(8,910</TD>
    <TD align=left width="2%" >) </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">10,778 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">(16,401</TD>
    <TD align=left width="2%" >) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT color=#1c1c1a>Gain on sale of
      marketable securities</FONT> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(6,443</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(765</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(6,443</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(1,114</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT color=#1c1c1a>Changes in fair value of financial
      instruments</FONT> </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">1,153 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">1,682 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT color=#1c1c1a>Foreign currency
      translation losses</FONT> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>600 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(3,713</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>4,626 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(2,516</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT color=#1c1c1a>Loss on extinguishment of debt</FONT>
    </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">- </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">2,136 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT color=#1c1c1a>Loss (gain) on
      contribution to joint venture, net of</FONT> <FONT>tax effect</FONT> </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>2,796 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>- </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>2,796 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>(65,268</TD>
    <TD align=left width="2%"  bgColor=#e6efff>) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Non-recurring tax
      adjustments </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(30,600</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">(30,600</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff><B>Adjusted net earnings</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;7,285</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;795</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;18,079</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff><B>&nbsp;9,316</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;
      &nbsp;<B>Adjusted EPS</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;0.04</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;0.00</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;0.09</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    ><B>$</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>&nbsp;0.05</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR></TABLE>
<P align=justify><B>Gibraltar Mine </B></P>
<P align=justify>The Gibraltar mine&#146;s second quarter 2011 copper production was
20.0 million lbs, similar to the 20.1 million lbs produced in the second quarter
2010. The Gibraltar mine&#146;s first half 2011 copper production was 39.2 million
lbs.</P>
<P align=justify>Molybdenum production during second quarter 2011 was 303.0
thousand lbs, up 39% compared to the prior-year quarter, largely due to a 47%
increase in molybdenum recovery. Molybdenum production during the first half of
2011 was 619.5 thousand lbs, up 50% compared to the prior-year period. The
recovery increase was a result of operational and technical improvements to the
molybdenum separation circuit.</P>
<P align=justify>In second quarter 2011, total cash costs/ lbs of copper
produced were US$2.32. This compares to US$2.10/ lb level for the corresponding
quarter in 2010. Higher costs resulted from maintenance and consumable costs, a
strengthened Canadian dollar, combined with reduced metal production in the
quarter. Offsite costs for treatment and refining and transportation decreased
to US$0.32/ lb of copper produced in second quarter 2011.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">15<SUP>th </SUP>Floor - 1040 West Georgia St,
      Vancouver BC Canada V6E 4H1</TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
    <TD align=center width="60%">Tel 778 373 4533&nbsp;&nbsp;&nbsp;Fax 778 373
      4534&nbsp;&nbsp;&nbsp;Toll Free 1 877 441 4533</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">www.tasekomines.com </TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<IMG
      src="tasekologo.jpg" alt=""
      border=0></TD>
  </TR>
  <TR vAlign=top>
    <TD align=right><I>Building wealth through developing and operating major
      copper &amp; gold mines </I></TD>
  </TR>
</TABLE>
<P align=justify><B>Gibraltar Operating Results</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left valign="bottom" style="BORDER-TOP: #000000 1px solid">&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-TOP: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="19%"
    colSpan=4 align=right valign="bottom" noWrap style="BORDER-TOP: #000000 1px solid"><B>Three months ended </B></TD>
    <TD width="2%" align=left valign="bottom" noWrap style="BORDER-TOP: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap style="BORDER-TOP: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="19%"
    colSpan=4 align=right valign="bottom" noWrap style="BORDER-TOP: #000000 1px solid"><B>Six months ended </B></TD>
  <TD width="2%" align=left valign="bottom" style="BORDER-TOP: #000000 1px solid"
    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom"><B>OPERATING STATISTICS (100% BASIS) </B></TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" noWrap>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" noWrap><B>June 30, </B></TD>
    <TD width="2%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" noWrap>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" noWrap><B>June 30, </B></TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD
      width="8%" align=right valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"><B>2011 </B></TD>
    <TD width="2%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD
      width="8%" align=right valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"><B>2010 </B></TD>
    <TD width="2%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD
      width="8%" align=right valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"><B>2011 </B></TD>
    <TD width="2%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD
      width="8%" align=right valign="bottom" noWrap style="BORDER-BOTTOM: #000000 1px solid"><B>2010 </B></TD>
  <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>Tons mined (millions) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>14.5 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>11.1 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>28.5 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>22.6 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Tons milled (millions) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">3.7 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">3.6 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">6.8 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">7.2 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>Stripping ratio </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.9 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.2 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.7 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.2 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Copper </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Grade (%) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.299 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.306 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.317 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.331 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Recovery (%) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">87.9 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">88.7 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">88.8 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">89.2 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Production (million lbs) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>19.3 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>19.6 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>38.4 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>42.7 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Sales (million lbs) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">14.3 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">21.1 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">30.9 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">41.5 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>Molybdenum </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Grade (%) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.011 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.011 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.012 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.012 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Recovery (%) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>37.6 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>25.5 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>37.2 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>23.5 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Production (thousand lbs) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">303.0 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">218.0 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">619.5 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">412.0 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Sales (thousand lbs) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>311.8 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>193.0 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>620.3 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>403.0 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Copper cathode </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=left valign="bottom">&nbsp; </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Production (million lbs) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.7 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.5 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.8 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>0.5 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Sales (million lbs) </TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.0 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.0 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.4 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="8%" align=right valign="bottom">0.1 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>Per unit data <SUP>1,4 </SUP></TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=left valign="bottom" bgColor=#e6efff>&nbsp; </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Operating cash costs <SUP>2 </SUP>(US$ per
      pound) </TD>
    <TD width="1%" align=left valign="bottom" >$</TD>
    <TD width="8%" align=right valign="bottom">2.29 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >$</TD>
    <TD width="8%" align=right valign="bottom">1.82 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >$</TD>
    <TD width="8%" align=right valign="bottom">2.18 </TD>
    <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" >$</TD>
    <TD width="8%" align=right valign="bottom">1.59 </TD>
  <TD width="2%" align=left valign="bottom" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;By-product credits <SUP>3
      </SUP>(US$ per pound) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>($0.29</TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>($0.17</TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>($0.32</TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>($0.19</TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>) </TD>
  </TR>
  <TR vAlign=top>
    <TD
      align=left valign="bottom" nowrap style="BORDER-BOTTOM: #000000 1px solid">&nbsp;&nbsp;&nbsp;Offsite costs for treatment &amp; refining
      and transport <SUP>3<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</SUP>(US$ per pound) </TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">0.32    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">0.44    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">0.34    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">0.38    </TD>
  <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bgColor=#e6efff>&nbsp; &nbsp;Total cash costs of production
      (US$ per pound) </TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>$</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.32 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>$</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.10 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>$</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>2.21 </TD>
    <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
    <TD width="1%" align=left valign="bottom"  bgColor=#e6efff>$</TD>
    <TD width="8%" align=right valign="bottom" bgColor=#e6efff>1.78 </TD>
  <TD width="2%" align=left valign="bottom"  bgColor=#e6efff>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">&nbsp; &nbsp;Total
      cash costs of production (Cdn$ per pound) </TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">2.24    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">2.16    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">2.16    </TD>
    <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
    <TD width="1%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >$</TD>
    <TD width="8%" align=right valign="bottom" style="BORDER-BOTTOM: #000000 1px solid">1.84    </TD>
  <TD width="2%" align=left valign="bottom" style="BORDER-BOTTOM: #000000 1px solid"
    >&nbsp;</TD>
  </TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><SUP>1 </SUP></TD>
    <TD>
      <P align=justify>Operating cash costs, total cash costs of production and
      total cash costs of sales are non-GAAP financial performance measures with
      no standard definition under IFRS. See pages 19-22 of the Company&#146;s
      MD&amp;A.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><SUP>2 </SUP></TD>
    <TD>
      <P align=justify>Operating cash costs are comprised of direct mining costs
      which include personnel costs, mine site general &amp; administrative
      costs, non-capitalized stripping costs, maintenance &amp; repair costs,
      operating supplies and external services. Non-cash costs, such as
      share-based compensation and depreciation, have been excluded.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><SUP>3 </SUP></TD>
    <TD>
      <P align=justify>By-product credits are calculated based on actual sales
      of molybdenum and silver for the period, divided by the total lbs of
      copper produced during the period. Offsite costs for treatment &amp;
      refining and transport are the expenses associated with actual sales
      during the period, divided by the total lbs of copper produced during the
      period.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><SUP>4 </SUP></TD>
    <TD>
      <P align=justify>Per unit data may not sum due to
  rounding.</P></TD></TR></TABLE><BR>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
    <TR vAlign=top>
      <TD align=center>&nbsp;</TD>
      <TD align=center width="60%">15<SUP>th </SUP>Floor - 1040 West Georgia St,
        Vancouver BC Canada V6E 4H1</TD>
      <TD align=center width="20%">&nbsp;</TD>
    </TR>
    <TR vAlign=top>
      <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
      <TD align=center width="60%">Tel 778 373 4533&nbsp;&nbsp;&nbsp;Fax 778 373
        4534&nbsp;&nbsp;&nbsp;Toll Free 1 877 441 4533</TD>
      <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="20%">&nbsp;</TD>
    </TR>
    <TR vAlign=bottom>
      <TD align=center>&nbsp;</TD>
      <TD align=center width="60%">www.tasekomines.com </TD>
      <TD align=center width="20%">&nbsp;</TD>
    </TR>
  </TABLE>
  <BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<IMG
      src="tasekologo.jpg" alt=""
      border=0></TD>
  </TR>
  <TR vAlign=top>
    <TD align=right><I>Building wealth through developing and operating major
      copper &amp; gold mines </I></TD>
  </TR>
</TABLE>
<P align=justify><B>Gibraltar Development Plan 3 </B></P>
<P align=justify>During the second quarter of 2011 the Company awarded the
Engineering Procurement and Construction Management (&#147;EPCM&#148;) contract to Ausenco
&#150; Minerals and Metals. The EPCM portion of GDP3 covers the $237 million cost of
the concentrator construction. </P>
<P align=justify>All major long lead time components including the grinding
mills have been secured and are scheduled for arrival and installation within
the project timeline. Current project commitments represent approximately 30% of
the infrastructure portion budget of the project.</P>
<P align=justify>All major mining equipment has been secured and delivery dates
are scheduled in 2012 and 2013.</P>
<P align=justify>Construction activity has also commenced including site
preparation and contractor mobilization. Commissioning of the project is
scheduled to commence in December 2012.</P>
<P align=justify><B>New Prosperity (100%)</B></P>
<P align=justify>The New Prosperity project description was submitted to the
Federal Government in February 2011 and has additional construction costs and
life of mine operating expenditures of approximately $300 million over that of
the original proposal. The Federal Government subsequently requested additional
information, which was supplied as a revised project description on June 6,
2011.</P>
<P align=justify>With the revised project description in hand, we expect that
the Canadian Environmental Assessment Agency (CEAA) will confirm its adequacy.
The Federal Government then has up to 90 days to: coordinate with the Province
of British Columbia, prepare a detailed background document, including project
scope, and launch the Environmental Assessment review. The Company expects the
Environmental Assessment review to commence by October 2011.</P>
<P align=justify><B>Aley (100%)</B></P>
<P align=justify>The Company recently committed $18 million toward the
advancement of the Aley project to a completed feasibility study in 2012. Key
initiatives included in this process are:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>Resource definition drilling program
  <LI>Baseline environmental studies
  <LI>Geotechnical drilling </LI></UL>
<P align=justify>Currently 60 people are working at site on these programs.
Drilling results are anticipated in the fourth quarter of this year.</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=2 width="100%" border=1>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 0px solid; BORDER-TOP: #000000 0px solid; BORDER-LEFT: #000000 0px solid; BORDER-BOTTOM: #000000 0px solid"
    align=left>Taseko will host a conference call on Friday, August 12, 2011
      at 11:00 a.m. Eastern Time (8:00 a.m. Pacific) to discuss these results.
      The conference call may be accessed by dialing (877) 303-9079 in Canada or
      (970) 315-0461 internationally. A live and archived audio webcast will
      also be available at www.tasekomines.com. </TD></TR>
  <TR>
    <TD
    style="BORDER-RIGHT: #000000 0px solid; BORDER-TOP: #000000 0px solid; BORDER-LEFT: #000000 0px solid; BORDER-BOTTOM: #000000 0px solid">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 0px solid; BORDER-TOP: #000000 0px solid; BORDER-LEFT: #000000 0px solid; BORDER-BOTTOM: #000000 0px solid"
    align=left>The conference call will be archived for later playback until
      August 19, 2011 and can be accessed by dialing (800) 642-1687 in Canada
      and the United States, or (706) 645-9291 internationally and using the
      passcode 81435415. </TD></TR></TABLE></DIV>
<P align=justify>For further information on Taseko, please see the Company&#146;s
website <U><FONT color=#0000ff>www.tasekomines.com </FONT></U>or contact:
Investor Relations - 778-373-4533, toll free 1-877-441-4533</P>
<P align=justify>Russell Hallbauer <BR><I>President and CEO</I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">15<SUP>th </SUP>Floor - 1040 West Georgia St,
      Vancouver BC Canada V6E 4H1</TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
    <TD align=center width="60%">Tel 778 373 4533&nbsp;&nbsp;&nbsp;Fax 778 373
      4534&nbsp;&nbsp;&nbsp;Toll Free 1 877 441 4533</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">www.tasekomines.com </TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right>&nbsp;<IMG
      src="tasekologo.jpg" alt=""
      border=0></TD>
  </TR>
  <TR vAlign=top>
    <TD align=right><I>Building wealth through developing and operating major
      copper &amp; gold mines </I></TD>
  </TR>
</TABLE>
<P align=justify>No regulatory authority has approved or disapproved of the
information contained in this news release.</P>
<P align=center><B><FONT color=#0000ff>CAUTION REGARDING FORWARD-LOOKING
INFORMATION </FONT></B></P>
<P align=justify>This document contains &#147;forward-looking statements&#148; that were
based on Taseko&#146;s expectations, estimates and projections as of the dates as of
which those statements were made. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as &#147;outlook&#148;,
&#147;anticipate&#148;, &#147;project&#148;, &#147;target&#148;, &#147;believe&#148;, &#147;estimate&#148;, &#147;expect&#148;, &#147;intend&#148;,
&#147;should&#148; and similar expressions. </P>
<P align=justify>Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause the Company&#146;s actual
results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking statements.
These included but are not limited to:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>uncertainties and costs related to the Company&#146;s exploration and
  development activities, such as those associated with continuity of
  mineralization or determining whether mineral resources or reserves exist on a
  property;
  <LI>uncertainties related to the accuracy of our estimates of mineral
  reserves, mineral resources, production rates and timing of production, future
  production and future cash and total costs of production and milling;
  <LI>uncertainties related to feasibility studies that provide estimates of
  expected or anticipated costs, expenditures and economic returns from a mining
  project;
  <LI>uncertainties related to our ability to complete the mill upgrade on time
  estimated and at the scheduled cost;
  <LI>uncertainties related to the ability to obtain necessary licenses permits
  for development projects and project delays due to third party opposition;
  <LI>uncertainties related to unexpected judicial or regulatory proceedings;
  <LI>changes in, and the effects of, the laws, regulations and government
  policies affecting our exploration and development activities and mining
  operations, particularly laws, regulations and policies;
  <LI>changes in general economic conditions, the financial markets and in the
  demand and market price for copper, gold and other minerals and commodities,
  such as diesel fuel, steel, concrete, electricity and other forms of energy,
  mining equipment, and fluctuations in exchange rates, particularly with
  respect to the value of the U.S. dollar and Canadian dollar, and the continued
  availability of capital and financing;
  <LI>the effects of forward selling instruments to protect against fluctuations
  in copper prices and exchange rate movements and the risks of counterparty
  defaults, and mark to market risk;
  <LI>the risk of inadequate insurance or inability to obtain insurance to cover
  mining risks;
  <LI>the risk of loss of key employees; the risk of changes in accounting
  policies and methods we use to report our financial condition, including
  uncertainties associated with critical accounting assumptions and estimates;
  <LI>environmental issues and liabilities associated with mining including
  processing and stock piling ore; and
  <LI>labour strikes, work stoppages, or other interruptions to, or difficulties
  in, the employment of labour in markets in which we operate mines, or
  environmental hazards, industrial accidents or other events or occurrences,
  including third party interference that interrupt the production of minerals
  in our mines. </LI></UL>
<P align=justify>For further information on Taseko, investors should review the
Company&#146;s annual Form 40-F filing with the United States Securities and Exchange
Commission <U><FONT color=#0000ff>www.sec.gov </FONT></U>and home jurisdiction
filings that are available at <U><FONT
color=#0000ff>www.sedar.com</FONT></U>.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">15<SUP>th </SUP>Floor - 1040 West Georgia St,
      Vancouver BC Canada V6E 4H1</TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
    <TD align=center width="60%">Tel 778 373 4533&nbsp;&nbsp;&nbsp;Fax 778 373
      4534&nbsp;&nbsp;&nbsp;Toll Free 1 877 441 4533</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="20%">&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="60%">www.tasekomines.com </TD>
    <TD align=center width="20%">&nbsp;</TD>
  </TR>
</TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
