<SEC-DOCUMENT>0001062993-11-001339.txt : 20110405
<SEC-HEADER>0001062993-11-001339.hdr.sgml : 20110405
<ACCEPTANCE-DATETIME>20110405132504
ACCESSION NUMBER:		0001062993-11-001339
CONFORMED SUBMISSION TYPE:	F-10/A
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20110405
DATE AS OF CHANGE:		20110405

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:		F-10/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-173197
		FILM NUMBER:		11739091

	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>F-10/A
<SEQUENCE>1
<FILENAME>formf10a.htm
<DESCRIPTION>AMENDMENT NO. 1 TO FORM F-10
<TEXT>
<HTML>
<HEAD>
   <TITLE>Taseko Mines Ltd.: Form F-10/A - Filed by newsfilecorp.com</TITLE>
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<P align=center>As filed with the Securities and Exchange Commission on April 5,
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 style="BORDER-BOTTOM: #000000 2px solid" align=right><B>Registration
      No. 333-173197 </B></TD></TR></TABLE>
<P align=center><B><FONT size=5>UNITED STATES</FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR><B>Washington, D.C.
20549<BR></B><BR><B>AMENDMENT NO. 1<BR></B><BR><B>TO<BR></B><BR><B><FONT
size=5>FORM F-10<BR></FONT></B><BR><B>REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933</B></P>
<hr noshade align="center" width="100%" size=1 color="black">
<P align=center><B><FONT size=5><U>TASEKO MINES LIMITED</U></FONT></B><BR>(Exact
name of Registrant as specified in its charter)<BR><B><BR><U>British
Columbia</U></B><BR>(Province or other jurisdiction<BR>of incorporation or
organization)</P>
<hr noshade align="center" width="100%" size=1 color="black">
<P></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><U><B>GIBRALTAR MINES LTD. </B></U></TD>
    <TD align=center width="50%"><U><B>ALEY CORPORATION </B></U></TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=2>(Exact name of each Registrant as specified in
      its charter) </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><U><B>British Columbia </B></U></TD>
    <TD align=center width="50%"><U><B>Canada </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Province or other jurisdiction of </TD>
    <TD align=center width="50%">(Province or other jurisdiction of </TD></TR>
  <TR vAlign=top>
    <TD align=center>incorporation or organization) </TD>
    <TD align=center width="50%">incorporation or organization </TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="50%">&nbsp; </TD></TR>
  <TR>
    <TD align=center>&nbsp; </TD>
    <TD align=center width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><U><B>1040 </B></U></TD>
    <TD align=center width="50%"><U><B>Not Applicable </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Primary Standard Industrial </TD>
    <TD align=center width="50%">(I.R.S. Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>Classification Code Number) </TD>
    <TD align=center width="50%">Identification Number) </TD></TR></TABLE>
<P align=center><B>905 West Pender Street, Suite 300</B><BR><B>Vancouver,
British Columbia</B><BR><B>Canada V6C 1L6</B><BR><B><U>778 373
4550</U></B><BR>(Address and telephone number of Registrants&#146; principal
executive offices)<BR><BR><B>Corporation Service Company</B><BR><B>Suite 400,
2711 Centerville Road</B><BR><B>Wilmington, Delaware, USA
19808</B><BR><B><U>Telephone: (800) 927-9800</U></B><BR>(Name, address
(including zip code) and telephone number (including area code) of agent for
service in the United States)<BR><BR>
  <B>Copy to:</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=center nowrap><B>Russell Hallbauer, President &amp; CEO</B></TD>
    <TD align=center width="33%"><B>Bernhard Zinkhofer </B></TD>
    <TD align=center width="33%"><B>Andrew J. Foley </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Taseko Mines Limited </B></TD>
    <TD align=center width="33%"><B>McMillan LLP </B></TD>
    <TD width="33%" align=center nowrap><B>Paul, Weiss, Rifkind, Wharton &amp;
      Garrison LLP </B></TD>
  </TR>
  <TR>
    <TD align=center>&nbsp;<STRONG>Suite 300, 905 West Pender Street</STRONG>
    </TD>
    <TD width="33%" align=center nowrap><STRONG>1500 &#150; 1055 West Georgia
      Street</STRONG>&nbsp;&nbsp;</TD>
    <TD align=center width="33%"><STRONG>1285 Avenue of the
      Americas</STRONG>&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD align=center>&nbsp;<STRONG>Vancouver, British Columbia</STRONG> </TD>
    <TD align=center width="33%"><STRONG>Vancouver, British
      Columbia</STRONG>&nbsp;&nbsp;</TD>
    <TD align=center width="33%"><STRONG>New York, New
    York</STRONG>&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD align=center>&nbsp;<STRONG>Canada V6C 1L6</STRONG> </TD>
    <TD align=center width="33%"><STRONG>Canada V6E
4N7</STRONG>&nbsp;&nbsp;</TD>
    <TD align=center width="33%">&nbsp;<STRONG>10019-6064</STRONG>
  </TD></TR></TABLE>
<br>

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<P align=center>Approximate date of commencement of proposed sale of the
securities to the public:</P>
<P align=center><B>From time to time after this Registration Statement becomes
effective.<BR></B><BR><B>Province of British Columbia, Canada</B><BR>(Principal
jurisdiction regulating this offering)</P>
<P align=left>It is proposed that this filing shall become effective (check
appropriate box below):</P>
<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%">A. </TD>
    <TD vAlign=top width="5%">[ ]</TD>
    <TD vAlign=top colSpan=2>
      <P align=justify>upon filing with the Commission, pursuant to Rule 467(a)
      (if in connection with an offering being made contemporaneously in the
      United States and Canada).</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD vAlign=top width="5%">[X]</TD>
    <TD vAlign=top colSpan=2>
      <P align=justify>at some future date (check appropriate box
  below)</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"></TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD vAlign=top width="5%">[ ]</TD>
    <TD vAlign=top>
      <P align=justify>pursuant to Rule 467(b) on (<I>date</I>) at (<I>time</I>)
      (designate a time not sooner than 7 calendar days after filing).</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"></TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD vAlign=top width="5%">[ ]</TD>
    <TD vAlign=top>
      <P align=justify>pursuant to Rule 467(b) on (<I>date</I>) at (<I>time</I>)
      (designate a time 7 calendar days or sooner after filing) because the
      securities regulatory authority in the review jurisdiction has issued a
      receipt or notification of clearance on (<I>date</I>).</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"></TD>
    <TD vAlign=top width="5%">3. </TD>
    <TD vAlign=top width="5%">[X]</TD>
    <TD vAlign=top>
      <P align=justify>pursuant to Rule 467(b) as soon as practicable after
      notification of the Commission by the Registrant or the Canadian
      securities regulatory authority of the review jurisdiction that a receipt
      or notification of clearance has been issued with respect
hereto.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"></TD>
    <TD vAlign=top width="5%">4. </TD>
    <TD vAlign=top width="5%">[ ]</TD>
    <TD vAlign=top>
      <P align=justify>after the filing of the next amendment to this Form (if
      preliminary material is being filed).</P></TD></TR></TABLE>
<P align=center>If any of the securities being registered on this form are to be
offered on a delayed or continuous basis pursuant to the home jurisdiction&#146;s
shelf prospectus offering procedures, check the following
box.&nbsp;&nbsp;&nbsp;&nbsp; [X]&nbsp;</P>
<P align=justify><B>Each Registrant hereby amends this registration statement on
such date or dates as may be necessary to delay its effective date until the
registration statement shall become effective as provided in Rule 467 under the
Securities Act of 1933 or on such date as the Commission, acting pursuant to
Section 8(a) of the Act, may determine.</B></P>
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<P align=center><B>PART I</B></P>
<P align=center><B>INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR
PURCHASERS</B></P>
<P align=center>&nbsp; </P>
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<P align=justify><I>AMENDED AND RESTATED SHORT FORM BASE SHELF PROSPECTUS DATED
  MARCH 30, 2011, AMENDING AND RESTATING THE SHORT FORM BASE SHELF PROSPECTUS
  DATED OCTOBER 8, 2010.</I></P>
<P align=justify><I>No securities regulatory authority has expressed an opinion
  about these securities and it is an offence to claim otherwise. This short form
  base shelf prospectus constitutes a public offering of these securities only in
  those jurisdictions where they may be lawfully offered for sale and therein only
  by persons permitted to sell such securities.</I></P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AMENDED AND RESTATED SHORT FORM
  BASE SHELF PROSPECTUS <BR>
  AMENDING AND RESTATING THE SHORT FORM BASE SHELF
  PROSPECTUS<BR>
</B><B>DATED OCTOBER 8, 2010</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><U>New Issue</U> </TD>
    <TD align=right width="50%">April 4, 2011 </TD>
  </TR>
</TABLE>
<P align=center><img src="tasekologo.jpg" width="384" height="52"></P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>$350,000,000 </B></P>
<P align=center><B>Common Shares <BR>
  Warrants <BR>
  Subscription Receipts <BR>
  Units <BR>
  Debt Securities</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This amended and restated short
  form base shelf prospectus (the &#147;Prospectus&#148;), including any further amendments
  hereto, relates to the potential offering for sale of common shares (the &#147;Common
  Shares&#148;), warrants (the &#147;Warrants&#148;), subscription receipts, debt securities, or
  any combination of such securities (the &#147;Units&#148;) (all of the foregoing,
  collectively, the &#147;Securities&#148;) by Taseko Mines Limited (the &#147;Company&#148; or
  &#147;Taseko&#148;) from time to time, during the 25-month period following the issuance
  of a receipt for the Company&#146;s short form base shelf prospectus dated October 8,
  2010. Such sales of Securities may occur in one or more series or issuances,
  with a total offering price of the Securities in the aggregate, of up to
  $350,000,000 (which includes 18,600,000 Common Shares that may be distributed
  under the Company&#146;s prospectus supplement dated October 18, 2010). The
  Securities may be offered in amounts at prices to be determined based on market
  conditions at the time of the sale and set forth in an accompanying prospectus
  supplement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s outstanding Common
  Shares are listed for trading on the Toronto Stock Exchange (the &#147;TSX&#148;) under
  the trading symbol &#147;TKO&#148; and on the NYSE Amex Equities Exchange (&#147;Amex&#148;) under
  the trading symbol &#147;TGB&#148;. The closing price of the Company&#146;s Common Shares on
  the TSX and Amex on April 1, 2011, the last trading day before the date of this
  Prospectus, was $5.77 per Common Share and US$5.96 per Common Share,
  respectively. <B>An investment in the Securities offered hereunder invokes a
    high degree of risk.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All information permitted under
  applicable securities legislation to be omitted from this Prospectus will be
  contained in one or more prospectus supplements that will be delivered to
  purchasers together with this Prospectus, except in cases where an exemption
  from such delivery requirements have been obtained. Each prospectus supplement
  will be incorporated by reference into this Prospectus for the purposes of
  applicable securities legislation as of the date of the prospectus supplement
  and only for the purposes of the distribution of the Securities to which the
  prospectus supplement pertains. Investors should read this Prospectus and any
  applicable prospectus supplement carefully before investing in the Company&#146;s
  Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The specific terms of the
  Securities with respect to a particular offering will be set out in the
  applicable prospectus supplements and may include, where applicable: (i) in the
  case of Common Shares, the number of Common Shares offered, the offering price
  and any other specific terms; (ii) in the case of Warrants, the offering price, the designation, number and terms of the Common Shares
  issuable upon exercise of the Warrants, any procedures that will result in the
  adjustment of these numbers, the exercise price, dates and periods of exercise,
  the currency in which the Warrants are issued and any other specific terms;
  (iii) in the case of subscription receipts, the number of subscription receipts
  being offered, the offering price, the procedures for the exchange of the
  subscription receipts for Common Shares or Warrants, as the case may be, and any
  other specific terms; (iv) in the case of debt securities, the specific
  designation, aggregate principal amount, the currency or the currency unit for
  the debt securities may be purchased, the maturity, interest provisions,
  authorized denominations, offering price, covenants, events of default, any
  terms for redemption or retraction, any exchange or conversion terms, whether
  the debt is senior or subordinated, whether the debt securities are guaranteed
  by any subsidiary or other affiliate of the Company and any other terms specific
  to the debt securities being offered; and (v) in the case of Units, the
  designation, number and terms of the Common Shares, Warrants, subscription
  receipts or debt securities comprising the Units. Where required by statute,
  regulation or policy, and where Securities are offered in currencies other than
  Canadian dollars, appropriate disclosure of foreign exchange rates applicable to
  the Securities will be included in the prospectus supplement describing the
  Securities.</P>
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<P align=center>- ii -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the debt securities
  that may be offered may be guaranteed by certain direct and indirect
  subsidiaries of Taseko with respect to the payment of the principal, premium, if
  any, and interest on the debt securities. The Company expects that any guarantee
  provided in respect of senior debt securities would constitute a senior and
  unsecured obligation of the applicable guarantor. In order to comply with
  certain registration statement form requirements under U.S. law, such subsidiary
  guarantees may be guaranteed by Taseko on a senior and unsecured basis. <B>For a
    more detailed description of the debt securities that may be offered, see
  &#147;Description of Securities &#150; Debt Securities - Guarantees&#148;, below.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Securities may be
  sold through underwriters or dealers or directly or through agents designated
  from time to time at amounts and prices and other terms determined by the
  Company. In connection with any underwritten offering of Securities, the
  underwriters may over-allot or effect transactions which stabilize or maintain
  the market price of the Securities. Such transactions, if commenced, may be
  discontinued at any time. See &#147;Plan of Distribution&#148;. A prospectus supplement
  will set out the names of any underwriters, dealers or agents involved in the
  sale of the Securities, the amounts, if any, to be purchased by underwriters,
  the plan of distribution for the Securities, including the net proceeds the
  Company expects to receive from the sale of the Securities, if any, the amounts
  and prices at which the Securities are sold and the compensation of such
  underwriters, dealers or agents.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No underwriter has been involved
  in the preparation of this Prospectus or performed any review of the contents of
  this Prospectus.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a foreign private
  issuer under United States securities laws and is permitted, under a
  multi-jurisdictional disclosure system adopted by the United States, to prepare
  this Prospectus in accordance with Canadian disclosure requirements. Investors
  should be aware that such requirements are different from those of the United
  States. In particular, the Company has prepared its financial statements in
  accordance with Canadian generally accepted accounting principles (&#147;Canadian
  GAAP&#148;), and they are subject to Canadian auditing and auditor independence
  standards. Thus, they may not be comparable to the financial statements of U.S.
  companies (see the discussion under the heading, &#147;Note to United States Readers
  Regarding Differences Between United States and Canadian Reporting Practices,&#148;
  for more information). In addition, the disclosure in this Prospectus, including
  the documents incorporated by reference herein, uses mineral resource
  classification terms and contains mineral resource estimates that comply with
  reporting standards in Canada that differ significantly from the requirements of
  the U.S. Securities and Exchange Commission (the &#147;SEC&#148;). Accordingly, the
  information contained in this Prospectus and the documents incorporated by
  reference herein describing the Company&#146;s mineral deposits may not be comparable
  to similar information made public by U.S. companies subject to the reporting
  and disclosure requirements under the United States federal securities laws (see
  the discussion under the heading, &#147;Cautionary Note to United States Investors
  Regarding Estimates of Reserves and Measured, Indicated and Inferred Resources,&#148;
  for more information).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Prospectus is part of a
  registration statement on Form F-10 relating to the Securities that the Company
  filed with the SEC. This Prospectus does not contain all of the information
  contained in the registration statement, certain parts of which are omitted in
  accordance with the rules and regulations of the SEC. Investors should refer to
  the registration statement and the exhibits to the registration
  statement for further information with respect to the Company and the
  Securities.</P>
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<P align=center>- iii -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors should rely only on the
  information contained or incorporated by reference in this Prospectus and any
  applicable prospectus supplement. The Company has not authorized anyone to
  provide Investors with different or additional information. If anyone provides
  Investors with different or additional information, Investors should not rely on
  it. The Company is not making an offer to sell or seeking an offer to buy the
  Securities in any jurisdiction where the offer or sale is not permitted.
  Investors should assume that the information contained in this Prospectus and
  any applicable prospectus supplement is accurate only as of the date on the
  front of those documents and that information contained in any document
  incorporated by reference is accurate only as of the date of that document,
  regardless of the time of delivery of this Prospectus and any applicable
  prospectus supplement or of any sale of the Company&#146;s securities. The Company&#146;s
  business, financial condition, results of operations and prospects may have
  changed since those dates.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market data and certain industry
  forecasts used in this Prospectus and any applicable prospectus supplement and
  the documents incorporated by reference in this Prospectus and any applicable
  prospectus supplement were obtained from market research, publicly available
  information and industry publications. The Company believes that these sources
  are generally reliable, but the accuracy and completeness of this information is
  not guaranteed. The Company has not independently verified this information, and
  the Company does not make any representation as to the accuracy of this
  information.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this Prospectus and any
  prospectus supplement, unless otherwise indicated, all dollar amounts are in
  Canadian dollars.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The head office of the Company is
  located at Suite 300 - 905 West Pender Street, Vancouver, British Columbia, V6C
  1L6. The registered office of the Company is located at Suite 1500 &#150; 1055 West
  Georgia Street, Vancouver, British Columbia V6E 4N7.</P>
<P align=center><B>NOTICE TO UNITED STATES INVESTORS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>This offering is made by a
  foreign private issuer that is permitted, under a multijurisdictional disclosure
  system adopted by the United States, to prepare this Prospectus in accordance
  with Canadian disclosure requirements. Prospective investors should be aware
  that such requirements are different from those of the United States. Financial
  statements included or incorporated herein have been prepared in accordance with
  Canadian generally accepted accounting principles, and are subject to Canadian
  auditing and auditor independence standards, and thus may not be comparable to
  financial statements of United States companies. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Prospective investors should
  be aware that the acquisition of the Securities described herein may have tax
  consequences both in the United States and Canada. Although the Company intends
  to include in the applicable prospectus supplement a description of certain
  income tax consequences to an investor acquiring any securities offered
  thereunder, such consequences for investors who are resident in, or citizens of,
  the United States may not be described fully therein.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The enforcement by investors
  of civil liabilities under the federal securities laws of the United States may
  be affected adversely by the fact that the Company is incorporated or organized
  under the laws of a foreign country, that some or all of its officers and
  directors may be residents of a foreign country, that some or all of the experts
  named in the registration statement may be residents of a foreign country, and
  that all or a substantial portion of the assets of the Company and said persons
  may be located outside the United States. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THESE SECURITIES HAVE NOT BEEN
  APPROVED OR DISAPPROVED BY THE SEC NOR HAS THE SEC PASSED UPON THE ACCURACY OR
  ADEQUACY OF THE PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
  OFFENSE.</B></P>
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<P align=center>- iv -</P>
<P align=center><B>TABLE OF CONTENTS</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 bgColor=#eeeeee><A
      href="#page_5">Documents Incorporated by Reference </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_5">1 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_6">Forward Looking Statements </A></TD>
    <TD align=right width="5%" ><A
      href="#page_6">2 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_7">Interpretation, Currency and Exchange Rates and General Information
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_7">3 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_8">Cautionary Note to United States Investors Regarding Estimates
      of Reserves and Measured, Indicated and Inferred Resources </A></TD>
    <TD align=right width="5%"  ><A
      href="#page_8">4 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_9">Note to United States Readers Regarding Differences Between
      United States and Canadian Financial Reporting Practices </A></TD>
    <TD align=right width="5%"  bgColor=#eeeeee ><A
      href="#page_9">5 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_10">Additional Information </A></TD>
    <TD align=right width="5%" ><A
      href="#page_10">6 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_11">Enforceability of Civil Liabilities by U.S. Investors </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_11">7 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_11">The Company </A></TD>
    <TD align=right width="5%" ><A
      href="#page_11">7 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_16">Use of Proceeds </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">12 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_17">Consolidated Capitalization </A></TD>
    <TD align=right width="5%" ><A
      href="#page_17">13 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_17">Prior Sales </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_17">13 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_20">Trading Price and Volume </A></TD>
    <TD align=right width="5%" ><A
      href="#page_20">16 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_21">Plan of Distribution </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_21">17 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_21">Description of Securities </A></TD>
    <TD align=right width="5%" ><A
      href="#page_21">17 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_37">Canadian Federal Income Tax Considerations </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_37">33 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_37">Material U.S. Federal Income Tax Considerations </A></TD>
    <TD align=right width="5%" ><A
      href="#page_37">33 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_37">Legal Matters </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_37">33 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_37">Auditors, Transfer Agent and Registrar </A></TD>
    <TD align=right width="5%" ><A
      href="#page_37">33 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_37">Documents Filed As Part of the Registration Statement </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_37">33 </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><a href="#page_38">Experts</a></TD>
    <TD align=right ><a href="#page_38">34</a></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#EEEEEE"><a href="#page_A-1">Auditors' Consent</a></TD>
    <TD align=right bgcolor="#EEEEEE" ><a href="#page_A-1">A-1</a></TD>
  </TR>
</TABLE>
<BR>
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<P align=center>-1-</P>
<P align=center><B>DOCUMENTS INCORPORATED BY REFERENCE</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Information has been
  incorporated by reference in this Prospectus from documents filed with the
  securities commissions of the Provinces of British Columbia, Alberta,
  Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, New Brunswick, Nova
  Scotia and Prince Edward Island. </B>Copies of the documents incorporated herein
  by reference may be obtained on request without charge from Taseko Mines
  Limited, #300, 905 West Pender Street, Vancouver, British Columbia, V6C 1L6
  (Telephone 778-373-4533) Attn: the Secretary, and are also available
  electronically at <U><FONT color=#0000ff>www.sedar.com</FONT></U>. The Company&#146;s
  filings through SEDAR are not incorporated by reference in this Prospectus
  except as specifically set out herein.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed
  with the securities commission or similar regulatory authority in the Provinces
  of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and
  Labrador, New Brunswick, Nova Scotia and Prince Edward Island, are specifically
  incorporated by reference into and, except where herein otherwise provided, form
  an integral part of this Prospectus:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>annual information form dated March 28, 2011 for the fiscal year ended
      December 31, 2010 (the &#147;Annual Information Form&#148;); </P>
  <LI>
    <P>consolidated financial statements and the notes thereto as at December 31,
      2010 and 2009 and for the years ended December 31, 2010 and 2009 and for the
      fifteen month period ended December 31, 2008, together with the auditors&#146;
      report dated March 16, 2011 thereon; </P>
  <LI>
    <P>management&#146;s discussion and analysis for the year ended December 31, 2010; </P>
  <LI>
    <P>management information circular dated May 13, 2010 relating to the annual
      general meeting of shareholders held June 16, 2010; and </P>
  <LI>
    <P>consolidated financial statements and the notes thereto as at December 31,
      2010 and 2009 and for the years ended December 31, 2010 and 2009 and the
      fifteen month period ended December 31, 2008 which include note 23,
      &#147;Differences between Canadian and United States Generally Accepted Accounting
      Principles&#148;, together with the auditors&#146; report dated March 28, 2011 thereon.
      These financial statements were filed in Canada on March 30, 2011 as &#147;Other&#148;
      and filed in the United States with the Company&#146;s 40-F Annual Report on March
      30, 2011. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Material change reports (other
  than confidential reports), business acquisition reports, interim financial
  statements, all other documents of the type referred to above, and any other
  document of the type required by National Instrument 44-101 &#150; <I>Short Form
    Prospectus Distributions </I>to be incorporated by reference in a short form
  prospectus, filed by the Company with the securities commission or similar
  regulatory authority in the Provinces of British Columbia, Alberta, Manitoba,
  Ontario, Saskatchewan, Newfoundland and Labrador, New Brunswick, Nova Scotia and
  Prince Edward Island after the date of this Prospectus and before completion or
  withdrawal of the offering, will also be deemed to be incorporated by reference
  into this prospectus.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent that any document
  or information incorporated by reference into this Prospectus is included in any
  report on Form 6-K, Form 40-F, Form 20-F, Form 10-K, Form 10-Q or Form 8-K (or
  any respective successor form) that is filed with or furnished to the SEC after
  the date of this Prospectus, such document or information shall be deemed to be
  incorporated by reference as an exhibit to the registration statement of which
  this Prospectus forms a part. In addition, the Company may incorporate by
  reference into this Prospectus, or the registration statement of which it forms
  a part, other information from documents that the Company files with or
  furnishes to the SEC pursuant to Section 13(a) or 15(d) of the United States
  Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), if and to the
  extent expressly provided therein.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All information permitted under
  applicable securities legislation to be omitted from this Prospectus will be
  contained in one or more prospectus supplements that will be delivered to
  purchasers together with this Prospectus, except in cases where an exemption from such delivery
  requirements has been obtained. Each prospectus supplement will be incorporated
  by reference into this Prospectus for the purposes of applicable securities
  legislation as of the date of the prospectus supplement and only for the purpose
  of the distribution of the Securities to which the prospectus supplement
  pertains. Investors should read this Prospectus and any applicable prospectus
  supplement carefully before investing in the Company&#146;s Securities.</P>
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<P align=center>- 2 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Any statement contained in a
  document incorporated or deemed to be incorporated by reference herein will be
  deemed to be modified or superseded for the purposes of this Prospectus to the
  extent that a statement contained herein or in any other subsequently filed
  document that is also incorporated or is deemed to be incorporated by reference
  herein modifies or supersedes such statement. The modifying or superseding
  statement need not state that it has modified or superseded a prior statement or
  include any other information set forth in the document that it modifies or
  supersedes. The making of a modifying or superseding statement will not be
  deemed an admission for any purpose that the modified or superseded statement,
  when made, constituted a misrepresentation, an untrue statement of a material
  fact or an omission to state a material fact that is required to be stated or
  that is necessary to make a statement not misleading in light of the
  circumstances in which it was made. Any statement so modified or superseded will
  not be deemed, except as so modified or superseded, to constitute a part of this
  Prospectus.</B></P>
<P align=center><B>FORWARD LOOKING STATEMENTS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Prospectus, including the
  documents incorporated by reference, contain forward-looking statements and
  forward-looking information (collectively referred to as &#147;forward-looking
  statements&#148;) which may not be based on historical fact, including without
  limitation statements regarding the Company&#146;s expectations in respect of future
  financial position, business strategy, future production, reserve potential,
  exploration drilling, exploitation activities, events or developments that the
  Company expects to take place in the future, projected costs and plans and
  objectives. Often, but not always, forward-looking statements can be identified
  by the use of the words &#147;believes&#148;, &#147;may&#148;, &#147;plan&#148;, &#147;will&#148;, &#147;estimate&#148;,
  &#147;scheduled&#148;, &#147;continue&#148;, &#147;anticipates&#148;, &#147;intends&#148;, &#147;expects&#148;, and similar
  expressions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such statements reflect the
  Company&#146;s current views with respect to future events and are subject to risks
  and uncertainties and are necessarily based upon a number of estimates and
  assumptions that, while considered reasonable by the Company, are inherently
  subject to significant business, economic, competitive, political and social
  uncertainties and contingencies. Many factors could cause the Company&#146;s actual
  results, performance or achievements to be materially different from any future
  results, performance, or achievements that may be expressed or implied by such
  forward-looking statements, including, among others:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>delays or inability to successfully complete the environmental assessment
      review process for the Prosperity Project; </P>
  <LI>
    <P>the potential for increase in the cash cost of production; </P>
  <LI>
    <P>lack of mineral reserves at the Harmony Project and Aley Project; </P>
  <LI>
    <P>the estimates of mineral resources is a subjective process, the accuracy
      of which is a function of the quantity and quality of available data and
      the assumptions made and judgment used in the engineering and geological
      interpretation, which may prove to be unreliable, and may be subject to
  revision based on various factors; </P>  </LI>

  <LI>
    <P>fluctuation of metal prices and currency rates; </P>
  <LI>
    <P>uncertain project realization values; </P>
  <LI>
    <P>current global economic conditions; </P>
  </LI>
  <LI>
    <P>changes in mining legislation adversely affecting our operations; </P>
  <LI>
    <P>inability to obtain adequate financing on acceptable terms; </P>
  <LI>
    <P>inability to obtain necessary exploration and mining permits and comply
      with all government requirements including environmental, health and safety
      laws; </P>
</UL>
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<P align=center>- 3 -</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>inability to attract and retain key personnel; and </P>
  <LI>
    <P>other risks detailed from time-to-time in the Company&#146;s quarterly
      filings, annual information forms, annual reports and annual filings with
      securities regulators. </P>
  </LI>
</UL>
<P align=justify>Certain of the assumptions the Company has made include
  assumptions regarding, among other things: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>future commodity prices; </P>
  <LI>
    <P>the cost of carrying out exploration and development activities on certain
      of the Company&#146;s mineral properties; </P>
  <LI>
    <P>the Company&#146;s ability to obtain and keep the necessary expertise in order
      to carry out its operating, exploration and development activities within the
      planned time periods; and </P>
  <LI>
    <P>the Company&#146;s ability to obtain adequate financing on acceptable terms. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such information is included,
  among other places, in this Prospectus under the headings &#147;The Company&#148;, &#147;Use of
  Proceeds&#148;, and in the annual information form under the heading &#147;Description of
  Business&#148; and in the Management&#146;s Discussion and Analysis for the year ended
  December 31, 2010, each of such documents being incorporated by reference in
  this Prospectus.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These factors should be
  considered carefully and readers are cautioned not to place undue reliance on
  the forward-looking statements. Readers are cautioned that the foregoing list of
  risk factors is not exhaustive and it is recommended that prospective investors
  consult the more complete discussion of risks and uncertainties facing the
  Company included in this Prospectus.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although the Company believes
  that the expectations conveyed by the forward-looking statements are reasonable
  based on the information available to it on the date such statements were made,
  no assurances can be given as to future results, approvals or achievements. The
  forward-looking statements contained in this Prospectus and the documents
  incorporated by reference herein are expressly qualified by this cautionary
  statement. The Company disclaims any duty to update any of the forward-looking
  statements after the date of this Prospectus to conform such statements to
  actual results or to changes in the Company&#146;s expectations except as otherwise
  required by applicable law.</P>
<P align=center><B>INTERPRETATION, CURRENCY AND EXCHANGE RATES AND GENERAL
  INFORMATION</B></P>
<P align=justify>In this Prospectus: </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><B>g/t</B> </TD>
    <TD align=left width="90%">means grams per tonne; </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B>km</B> </TD>
    <TD align=left width="90%">means kilometres; </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B>kV</B> </TD>
    <TD align=left width="90%">means kilovolts; </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B>Lb</B> </TD>
    <TD align=left width="90%">means pound; </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B>m</B> </TD>
    <TD align=left width="90%">means metres; </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><B>NI 43-101</B> </TD>
    <TD align=left width="90%">means National Instrument 43-101 - Standards of
      Disclosure for Mineral Projects; </TD>
  </TR>
</TABLE>
<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 >&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>ton</B> </TD>
    <TD align=left width="90%">means 2,000 pounds; and </TD>
  </TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>tonne or t</B> </TD>
    <TD align=left width="90%">means 1 metric tonne, equal to 1,000 kilograms,
      or 1.102 tons. </TD>
  </TR>
</TABLE>
<br>
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<p align=center>- 4 -</p>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth under
  &#147;Description of Securities&#148; and unless the context otherwise requires,
  references to the &#147;Company&#148; &#147;we&#148;, &#147;our&#148;, &#147;us&#148; or &#147;Taseko&#148; mean Taseko Mines
  Limited and the Company&#146;s subsidiary, Gibraltar Mines Ltd.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All currency amounts in this
  Prospectus are in Canadian dollars unless otherwise indicated. On April 1, 2011,
  CDN$1.00 was equivalent to US$1.0385 as reported by the Bank of Canada.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko uses the imperial measure
  of tons to describe its reserves and resources at the Gibraltar Mine, and uses
  metric tonnes to describe its reserves and resources at the Prosperity Project.
  The difference is due to the age of the projects and, since the Gibraltar Mine
  has been in production for many years, it has continued to use the imperial
  measure for consistency, whereas the Prosperity Project has adopted the metric
  standard used in Canada today.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The address of the Company&#146;s
  website is <U><FONT color=#0000ff>www.tasekomines.com</FONT></U>. Information
  contained on the Company&#146;s website is not part of this Prospectus or
  incorporated by reference herein. Prospective investors should rely only on the
  information contained or incorporated by reference in this Prospectus. The
  Company has not authorized any person to provide different information.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities being offered for
  sale under this Prospectus may only be sold in those jurisdictions in which
  offers and sales of the Securities are permitted. This Prospectus does not
  constitute an offer to sell or a solicitation of an offer to buy the Securities
  in any jurisdiction where it is unlawful to do so. The information contained in
  this Prospectus is accurate only as of the date of this Prospectus, regardless
  of the time of delivery of this Prospectus or of any sale of the Securities.</P>
<P align=center><B>CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING
  ESTIMATES OF RESERVES <BR>
  AND MEASURED, INDICATED AND INFERRED RESOURCES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The disclosure in this
  Prospectus, including the documents incorporated by reference herein, uses
  mineral resource classification terms that comply with reporting standards in
  Canada, and certain mineral resource estimates are made in accordance with
  National Instrument 43-101 - <I>Standards of Disclosure for Mineral Projects </I>(&#147;NI 43-101&#148;). NI 43-101 is a rule developed by the Canadian Securities
  Administrators that establishes standards for all public disclosure an issuer
  makes of scientific and technical information concerning mineral projects.
  Unless otherwise indicated, all reserve and resource estimates contained in or
  incorporated by reference in this Prospectus have been prepared in accordance
  with NI 43-101. These standards differ significantly from the requirements of
  the SEC, and reserve and resource information contained herein and incorporated
  by reference herein may not be comparable to similar information disclosed by
  U.S. companies.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Prospectus includes mineral
  reserve estimates that have been calculated in accordance with NI 43-101, as
  required by Canadian securities regulatory authorities. For United States
  reporting purposes, SEC Industry Guide 7 (under the Exchange Act), as
  interpreted by the staff of the SEC, applies different standards in order to
  classify mineralization as a reserve. As a result, the definitions of proven and
  probable reserves used in NI 43-101 differ from the definitions in SEC Industry
  Guide 7. Under SEC standards, mineralization may not be classified as a
  &#147;reserve&#148; unless the determination has been made that the mineralization could
  be economically and legally produced or extracted at the time the reserve
  determination is made. Among other things, all necessary permits would be
  required to be in hand or issuance imminent in order to classify mineralized
  material as reserves under the SEC standards. Accordingly, mineral reserve
  estimates contained in this prospectus may not qualify as &#147;reserves&#148; under SEC
  standards.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, this Prospectus uses
  the terms &#147;measured mineral resources&#148;, &#147;indicated mineral resources&#148; and
  &#147;inferred mineral resources&#148; to comply with the reporting standards in Canada.
  The Company advises prospective investors that while those terms are recognized
  and required by Canadian regulations, the SEC does not recognize them. Investors are cautioned not to assume that any part or
  all of the mineral deposits in these categories will ever be converted into SEC
  defined mineral reserves.</P>
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<P align=center>- 5 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further, &#147;inferred resources&#148;
  have a great amount of uncertainty as to their existence and as to whether they
  can be mined legally or economically. Therefore, investors are also cautioned
  not to assume that all or any part of the inferred resources exist. In
  accordance with Canadian rules, estimates of &#147;inferred mineral resources&#148; cannot
  form the basis of feasibility or other economic studies.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It cannot be assumed that all or
  any part of &#147;measured mineral resources&#148;, &#147;indicated mineral resources&#148;, or
  &#147;inferred mineral resources&#148; will ever be upgraded to a higher category.
  Investors are cautioned not to assume that any part of the reported &#147;measured
  mineral resources&#148;, &#147;indicated mineral resources&#148;, or &#147;inferred mineral
  resources&#148; in this Prospectus is economically or legally mineable.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the above reasons,
  information contained in this Prospectus and the documents incorporated by
  reference herein containing descriptions of the Company&#146;s mineral deposits may
  not be comparable to similar information made public by U.S. companies subject
  to the reporting and disclosure requirements under the United States federal
  securities laws and the rules and regulations thereunder. </P>
<P align=center><B>NOTE TO UNITED STATES READERS REGARDING DIFFERENCES BETWEEN
  UNITED STATES<BR>
  AND CANADIAN FINANCIAL REPORTING PRACTICES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko prepares its financial
  statements in accordance with Canadian GAAP, which differ from U.S. generally
  accepted accounting principles (&#147;U.S. GAAP&#148;). Therefore, the Company&#146;s financial
  statements incorporated by reference in this Prospectus, and in the documents
  incorporated by reference in this Prospectus, may not be comparable to financial
  statements prepared in accordance with U.S. GAAP. Prospective investors should
  refer to note 23 to the audited consolidated financial statements entitled
  &#147;Differences between Canadian and United States Generally Accepted Accounting
  Principles&#148; for the years ended December 31, 2010 and 2009 and the fifteen
  months ended December 31, 2008 (as filed in Canada on March 30, 2011 as &#147;Other&#148;
  and filed in the United States with the Company&#146;s 40-F Annual Report on March
  30, 2011), for a discussion of the principal differences between the Company&#146;s
  financial results determined under Canadian GAAP and under U.S. GAAP. The
  Supplementary Note should be read in conjunction with, respectively, the
  Company&#146;s audited consolidated financial statements as at and for the periods
  ended December 31, 2010 and 2009. See &#147;Documents Incorporated by Reference&#148;.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian public companies will be
  required to prepare financial statements in accordance with International
  Financial Reporting Standards (&#147;IFRS&#148;), as issued by the International
  Accounting Standards Board, for financial years beginning on or after January 1,
  2011. Effective January 1, 2011, the Company has adopted IFRS as the basis for
  preparing its consolidated financial statements. The Company will issue its
  financial results for the quarter ended March 31, 2011 prepared on an IFRS basis
  and will provide comparative data on an IFRS basis as required.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The IFRS conversion project
  consists of four phases: diagnostic; design and planning; implementation; and
  post implementation. The Company has completed the diagnostic, design and
  planning and implementation phases. The major variances identified and adjusted
  include the valuation of compound financial instruments, accounting for
  property, plant and equipment, the effects of changes in foreign currency
  exchange rates and alternatives available under IFRS 1 &#150; First Time Adoption of
  IFRS. The conversion to IFRS has had a relatively low impact on the financial
  record keeping, internal control and financial disclosure of the Company due to
  the historical exploration and project development nature of the Company&#146;s
  business. Accounting systems have been assessed and reconfigured to ensure
  accurate reporting under IFRS, both internally and externally. The Company&#146;s key
  financial staff has been trained in IFRS and the majority of them have been
  exposed to reporting under IFRS for five years or more. The adoption of IFRS
  principles is expected to have a material affect on the manner in which the
  Company reports its accounts.</P>
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<P align=center>- 6 -</P>
<P align=center><B>ADDITIONAL INFORMATION</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has filed with the
  SEC a registration statement on Form F-10 under the United States Securities Act
  of 1933, as amended (the &#147;U.S. Securities Act&#148;), relating to the offering of the
  Securities. The Prospectus, which constitutes a part of the registration
  statement, does not contain all of the information contained in the registration
  statement, certain items of which are contained in the exhibits to the
  registration statement as permitted by the rules and regulations of the SEC.
  Statements included or incorporated by reference in this Prospectus about the
  contents of any contract, agreement or other documents referred to are not
  necessarily complete, and in each instance, you should refer to the exhibits for
  a more complete description of the matter involved. Each such statement is
  qualified in its entirety by such reference.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to the
  informational reporting requirements of the Exchange Act as the Common Shares
  are registered under Section 12(b) of the Exchange Act. Accordingly, the Company
  is required to publicly file reports and other information with the SEC. Under
  the multi-jurisdictional disclosure system adopted by the United States and
  Canada (the &#147;MJDS&#148;), the Company is permitted to prepare such reports and other
  information in accordance with Canadian disclosure requirements, which are
  different from United States disclosure requirements.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a foreign private issuer, the
  Company is exempt from the rules under the Exchange Act prescribing the
  furnishing and content of proxy statements in connection with meetings of its
  shareholders. In addition, the officers, directors and principal shareholders of
  the Company are exempt from the reporting and short-swing profit recovery rules
  contained in Section 16 of the Exchange Act.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company files annual reports
  on Form 40-F with the SEC under the MJDS, which annual reports include:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the annual information form; </P>
  <LI>
    <P>management&#146;s discussion and analysis of financial condition and results of
      operations; </P>
  <LI>
    <P>consolidated audited financial statements, which are prepared in accordance
      with Canadian GAAP and reconciled to U.S. GAAP; and </P>
  <LI>
    <P>other information specified by the Form 40-F. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a foreign private issuer, the
  Company is required to furnish the following types of information to the SEC
  under cover of Form 6-K:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>material information that the Company otherwise makes publicly available in
      reports that the Company files with securities regulatory authorities in
      Canada; </P>
  <LI>
    <P>material information that the Company files with, and which is made public
      by, the TSX and Amex; and </P>
  <LI>
    <P>material information that the Company distributes to its shareholders in
      Canada. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors may read and copy, for
  a fee, any document that the Company has filed with or furnished to the SEC at
  the SEC&#146;s public reference room in Washington, D.C. at 100 F Street, N.E.,
  Washington, D.C. 20549. Investors should call the SEC at 1-800-SEC-0330 or
  access its website at www.sec.gov for further information about the public
  reference room. Investors may read and download some of the documents the
  Company has filed with the SEC&#146;s Electronic Data Gathering and Retrieval system
  (&#147;EDGAR&#148;) at www.sec.gov. Investors may read and download any public document
  that the Company has filed with the securities commissions or similar regulatory
  authorities in Canada at www.sedar.com.</P>
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<P align=center>- 7 -</P>
<P align=center><B>ENFORCEABILITY OF CIVIL LIABILITIES BY U.S. INVESTORS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a corporation
  formed under and governed by the <I>Business Corporations Act </I>(British
  Columbia). All but one of the Company&#146;s directors, all of its officers, and all
  of the experts named in this Prospectus, are residents of Canada or otherwise
  reside outside the United States, and all or a substantial portion of their
  assets, and all of the Company&#146;s assets, are located outside the United States.
  The Company has appointed an agent for service of process in the United States,
  but it may be difficult for holders of the Securities who reside in the United
  States to effect service within the United States upon those directors, officers
  and experts who are not residents of the United States. It may also be difficult
  for holders of the Securities who reside in the United States to realize upon
  judgments of courts of the United States predicated upon the Company&#146;s civil
  liability and the civil liability of its directors, officers and experts under
  the United States federal securities laws.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has been advised by
  its Canadian counsel, McMillan LLP, that a judgment of a United States court
  predicated solely upon civil liability under United States federal securities
  laws would probably be enforceable in Canada if the United States court in which
  the judgment was obtained has a basis for jurisdiction in the matter that would
  be recognized by a Canadian court for the same purposes. The Company has also
  been advised by McMillan LLP, however, that there is substantial doubt whether
  an action could be brought in Canada in the first instance on the basis of
  liability predicated solely upon United States federal securities laws.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company filed with the SEC,
  concurrently with its registration statement on Form F-10, an appointment of
  agent for service of process on Form F-X. Under the Form F-X, the Company
  appointed Corporation Service Company as its agent for service of process in the
  United States in connection with any investigation or administrative proceeding
  conducted by the SEC, and any civil suit or action brought against or involving
  the Company in a United States court arising out of, related to, or concerning
  the offering of the Securities under this Prospectus.</P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THE COMPANY </B></P>
<P align=left><B>Overview</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko was incorporated on April
  15, 1966 under the laws of the Province of British Columbia. Taseko&#146;s registered
  office is located at Suite 1500-1055 West Georgia, Vancouver, British Columbia,
  V6E 4N7, and its operational head office is located at Suite 300, 905 West
  Pender Street, Vancouver, British Columbia, V6C 1L6.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko has two material
  subsidiaries, Gibraltar Mines Ltd. (&#147;Gibraltar&#148;) and Aley Corporation (&#147;Aley&#148;).
  It has other inactive or non-material subsidiaries described in the Annual
  Information Form. Taseko owns 100% of the common shares of Aley and all of the
  common shares of Gibraltar, which also has outstanding a class of preferred
  shares which are expected to be redeemed through the issuance of 6.3 million
  Taseko common shares in the second quarter of 2011, making Gibraltar a 100%
  subsidiary. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 31, 2010, Gibraltar sold
  a 25% joint venture interest in the Gibraltar mine, a copper and molybdenum mine
  (the &#147;Gibraltar Mine&#148;), to Cariboo Copper Corp. (&#147;Cariboo&#148;) for $187.0 million.
  Cariboo is a consortium that consists of three Japanese corporations: Sojitz
  Corporation (50%), Dowa Corporation (25%) and Furakawa Corporation (25%).
  Gibraltar retains a 75% interest in the Gibraltar joint venture and is the
  operator of the Gibraltar Mine.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine restarted
  operations in October 2004 after being on care and maintenance for several
  years. The Company estimates that the Gibraltar Mine has 445 million tons of
  reserves, or 24 years at the current rate of production. Taseko also owns the
  Prosperity gold and copper project (the &#147;Prosperity Project&#148;) which is a
  pre-development stage project for which Taseko is in the process of seeking
  federal Canadian government environmental approvals to build a mine. Aley&#146;s
  niobium property (the &#147;Aley Project&#148;) was recently the subject of a promising
  exploration program, which is discussed below (See &#147;The Company &#150; Aley Niobium
  Project&#148;), but is an early exploration stage project. Taseko also owns the
  Harmony gold project (the &#147;Harmony Project&#148;), which is at the late exploration
  stage but which is currently inactive. All of these projects are located in
  British Columbia, Canada.</P>
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<P align=center>- 8 -</P>
<P align=justify><B>Gibraltar Mine</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless stated otherwise,
  information of a technical or scientific nature related to the Gibraltar Mine
  contained in this Prospectus (including documents incorporated by reference
  herein) is summarized or extracted from a technical report entitled &#147;Technical
  Report on the 105 Million Ton Increase in Mineral Reserves at the Gibraltar
  Mine&#148; dated January 23, 2009 (the &#147;Gibraltar Technical Report&#148;), prepared by
  Scott Jones, P. Eng., filed on Taseko&#146;s profile on SEDAR at <U><FONT
color=#0000ff>www.sedar.com </FONT></U>and updated with 2009 production results.
  Mr. Jones is not independent of Taseko by virtue of being employed by the
  Company as Vice-President, Engineering.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine is located
  near the City of Williams Lake in south-central British Columbia. As at December
  31, 2009, the Gibraltar Mine had proven and probable mineral reserves of 445
  million tons grading 0.314% copper and 0.008% molybdenum (see Table 1).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine obtained
  government permitting and re-started operation in early October 2004 following
  several years on care and maintenance as a result of low metal prices.
  Commercial production re-started on January 1, 2005 and has continued to the
  present. Total production in the four years leading up to December 31, 2010 was
  48.7 million tons milled, producing 280.7 million lb. of copper in concentrate
  and cathode, and 2.8 million lb. of molybdenum. Construction of the Phase 1 mill
  expansion was completed in February 2008. The majority of the construction
  schedule of a Phase 2 expansion program, designed to increase concentrator
  throughput from 46,000 tpd to 55,000 tpd was completed in 2010. Installation of
  the in-pit crusher and conveyor and the Semi-Autogenous Grinding (&#147;SAG&#148;) mill
  direct feed system is scheduled for completion in the second quarter of 2011. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2011, the Company plans to
  move forward with a Phase 3 expansion program at the Gibraltar Mine. The
  Gibraltar Development Plan 3 ("GDP-3") will include construction of a new
  concentrator to complement the existing 55,000 tpd facility, which is expected
  to increase annual production capacity to over 170 million pounds of copper. A
  new molybdenum recovery facility is also planned to increase annual molybdenum
  production to over two million pounds. The capital cost for the concentrator
  facility is estimated to be $235 million, plus approximately $90 million for the
  additional mining equipment. The $325 million total capital cost represents 100%
  of the outlays required. Gibraltar&#146;s share will be 75% of that amount.
  Proceeding with GDP-3 will require the consent of Cariboo, who holds 25% of the
  joint venture, which has a consent right over expansions of 30% or more from the
  mine plan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One hundred seventy-three new
  diamond drill holes were completed between July 2007 and September 2008, of
  which 115 drill holes were included in the Gibraltar Extension geological model,
  and allowed for expansion and update of the reserves at the Gibraltar Mine. The
  Gibraltar Extension is a body of mineralization on the Gibraltar Mine property
  which has shape and structure that are significantly different from other
  deposits that occur on the property. Drilling up until the 2008 program had
  provided details of the northwest and southeast portions of the Gibraltar
  deposit but the central zone was under-drilled and poorly defined. The 2008
  program objective was to test the continuity of mineralization between the two
  ends and increase drillhole density along the Gibraltar deposit to upgrade the
  resource model blocks from inferred to measured and indicated category so that
  proven and probable reserves could be estimated.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The reserve estimates for the
  Gibraltar Extension deposit used long term metal prices of US$1.75/lb for copper
  and US$10.00/lb for molybdenum and a foreign exchange rate of Cdn$0.82 per US
  dollar. The balance of the reserves used September 2007 NI 43-101 estimates
  reduced by actual 2008 and 2009 mining, with long term metal prices of
  US$1.50/lb for copper, US$10/lb for molybdenum and a foreign exchange rate of
  $0.80 per US dollar.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The proven and probable reserves
  as of December 31, 2010 are tabulated in Table 1 below and are NI 43-101 and SEC
  Guide 7 compliant.</P>
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<P align=center>- 9 -</P>
<P align=center><B>Table 1: Gibraltar Mineral Reserves <BR>
  at 0.20% Copper
  Cut-off</B></P>
<DIV align=center>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="70%" border=0>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left><BR>
          <B>Pit</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%"><BR>
          <B>Category</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>Tons</B> <BR>
          <B>(millions)</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>Cu</B> <BR>
          <B>(%)</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>Mo</B> <BR>
          <B>(%)</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left rowSpan=2>Connector </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=left width="18%">Proven <BR>
        Probable </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">40.4 <BR>
        14.8 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.296 <BR>
        0.271 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.010 <BR>
        0.009 </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%"><B>Subtotal</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>55.2</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.289</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.010</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left rowSpan=2>Gibraltar </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=left width="18%">Proven <BR>
        Probable </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">66.8 <BR>
        33.3 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.286 <BR>
        0.285 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.008 <BR>
        0.013 </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%"><B>Subtotal</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>100.1</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.286</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.010</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left rowSpan=2>Granite </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=left width="18%">Proven <BR>
        Probable </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">163.4 <BR>
        21.6 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.323 <BR>
        0.319 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.009 <BR>
        0.009 </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%"><B>Subtotal</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>185.0</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.322</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.009</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left rowSpan=2>Gibraltar Extension </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=left width="18%">Proven <BR>
        Probable </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">75.4 <BR>
        29.3 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.352 <BR>
        0.304 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    borderColor=#000000 align=center width="18%">0.002 <BR>
        0.002 </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%"><B>Subtotal</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>104.7</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.339</B> </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%"><B>0.002</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left>Total </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left width="18%">&nbsp;</TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%">445.0 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%">0.314 </TD>
      <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center width="18%">0.008 </TD>
    </TR>
  </TABLE>
</DIV>
<BR>
<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-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000
      align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B><FONT color=#ff0000>Cautionary Note to Investors Concerning Estimates
      of Measured and Indicated Resources</FONT></B> </TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000 align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left>This section uses the terms &#145;measured
      resources&#146; and &#145;indicated resources&#146;. The Company advises investors that
      while those terms are recognized and required by Canadian regulations, the
      SEC does not recognize them. <STRONG>Investors are cautioned not to assume
        that any part or all of mineral deposits in these categories will ever
        be</STRONG> <STRONG>converted into reserves.</STRONG> </TD>
  </TR>
</TABLE>
<P align=justify>The mineral reserves stated above are contained within the
  mineral resources shown in Table 2 below.</P>
<P align=center><B>Table 2<BR>
  </B><B>Gibraltar Mine Mineral Resources <BR>
    at
    0.20% Copper Cut-off</B></P>
<DIV align=center>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="50%" border=1>
    <TR vAlign=top>
      <TD align=left>&nbsp;</TD>
      <TD align=center width="25%"><B>Tons</B> </TD>
      <TD align=center width="25%"><B>Cu</B> </TD>
      <TD align=center width="25%"><B>Mo</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left><B>Category</B> </TD>
      <TD align=center width="25%"><B>(millions)</B> </TD>
      <TD align=center width="25%"><B>(%)</B> </TD>
      <TD align=center width="25%"><B>%)</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left>Measured </TD>
      <TD align=center width="25%">583.0 </TD>
      <TD align=center width="25%">0.301 </TD>
      <TD align=center width="25%">0.008 </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left>Indicated </TD>
      <TD align=center width="25%">361.0 </TD>
      <TD align=center width="25%">0.290 </TD>
      <TD align=center width="25%">0.008 </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left><B>Total</B> </TD>
      <TD align=center width="25%"><B>944.0</B> </TD>
      <TD align=center width="25%"><B>0.297</B> </TD>
      <TD align=center width="25%"><B>0.008</B> </TD>
    </TR>
  </TABLE>
</DIV>
<P align=center><B>Prosperity Project</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=bottom>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000 align=center><B>Cautionary Note to Investors
      Concerning Reserve Estimates</B> </TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=center><P align=justify>The following mineral reserves have been estimated in
      accordance with NI 43-101, as required by Canadian securities regulatory
      authorities. For United States reporting purposes, SEC Industry Guide 7
      under the Exchange Act, as interpreted by Staff of the SEC, applies
      different standards in order to classify mineralization as a reserve. As a
      result, the definitions of proven and probable reserves used in NI 43-101
      differ from the definitions in the SEC Industry Guide 7. Under SEC
      standards, mineralization may not be classified as a &#147;reserve&#148; unless the
      determination has been made that the mineralization could be economically
      and legally produced or extracted at the time the reserve determination is
      made. Among other things, all necessary permits would be required to be in
      hand or issuance imminent in order to classify mineralized material as
      reserves under the SEC standards. Accordingly, mineral reserve estimates
      contained in this prospectus or in documents incorporated herein by
      reference may not qualify as &#147;reserves&#148; under SEC standards. In addition,
      disclosure of &#147;contained ounces&#148; is permitted disclosure under Canadian
      regulations; however, the SEC only permits issuers to report reserves in ounces,
      and requires reporting of mineralization that does not qualify as reserves as in
      place tonnage and grade without reference to unit measures.</P></TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<A name=page_14></A>
<P align=center>- 10 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless stated otherwise,
  information of a technical or scientific nature related to the Prosperity
  Project contained in this Prospectus (including documents incorporated by
  reference herein) is summarized or extracted from a technical report entitled
  &#147;Technical Report on the 344 million tonne increase in mineral reserves at the
  Prosperity Gold &#150; Copper Project&#148; dated December 17, 2009 (the &#147;Prosperity
  Technical Report&#148;), prepared by Scott Jones, P. Eng., filed on Taseko&#146;s profile
  on SEDAR at www.sedar.com. Mr. Jones is not independent of Taseko by virtue of
  being employed by the Company as Vice-President, Engineering.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prosperity Project is located
  125 km southwest of the City of Williams Lake in the Cariboo-Chilcotin region of
  British Columbia. The following are the highlights of the Prosperity
  Project:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>Located near existing infrastructure in south-central British Columbia; </P>
  <LI>
    <P>33 year mine life at a milling rate of 70,000 tonnes/day; and </P>
  <LI>
    <P>Life of mine waste-to-ore strip ratio of 1.5. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2009, Taseko updated the
  mineral reserve estimate from a 2007 feasibility study on the Prosperity Project
  by assuming long term metal prices of $1.65/lb Cu and $650/oz Au. The resulting
  mineral reserves are shown in Table 3.</P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Table 3 <BR>
  Prosperity Mineral
  Reserves <BR>
  at $5.50 NSR/t Pit-Rim Cut-off</B></P>
<DIV>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>
    <TR vAlign=top>
      <TD align=center><B>Category</B> <BR>
          <BR></TD>
      <TD align=center width="16%"><B>Tonnes</B> <BR>
          <B>(millions)</B> <BR></TD>
      <TD align=center width="16%"><B>Gold</B> <BR>
          <B>(g/t)</B> <BR></TD>
      <TD align=center width="16%"><B>Copper</B> <BR>
          <B>(%)</B> <BR></TD>
      <TD align=center width="16%"><B>Recoverable</B> <BR>
          <B>Gold Ounces</B> <BR>
        <B>(millions)</B> </TD>
      <TD align=center width="16%"><B>Recoverable</B> <BR>
          <B>Copper Pounds</B> <BR>
        <B>(billions)</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD align=center>Proven <BR>
        Probable </TD>
      <TD align=center width="16%">481 <BR>
        350 </TD>
      <TD align=center width="16%">0.46 <BR>
        0.35 </TD>
      <TD align=center width="16%">0.26 <BR>
        0.18 </TD>
      <TD align=center width="16%">5.0 <BR>
        2.7 </TD>
      <TD align=center width="16%">2.4 <BR>
        1.2 </TD>
    </TR>
    <TR vAlign=top>
      <TD align=center>Total </TD>
      <TD align=center width="16%">831 </TD>
      <TD align=center width="16%">0.41 </TD>
      <TD align=center width="16%">0.23 </TD>
      <TD align=center width="16%">7.7 </TD>
      <TD align=center width="16%">3.6 </TD>
    </TR>
  </TABLE>
</DIV>
<P align=justify>Recoverable gold and copper calculated using life of mine
  average target recoveries of 69% and 87% for gold and copper, respectively.</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-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000 align=center><B><FONT color=#ff0000>Cautionary Note to
      Investors Concerning Estimates of Measured and Indicated
      Resources</FONT></B> </TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
    borderColor=#000000 align=center >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    borderColor=#000000 align=left>This section uses the terms &#145;measured
      resources&#146; and &#145;indicated resources&#146;. The Company advises investors that
      while those terms are recognized and required by Canadian regulations, the
      SEC does not recognize them. <STRONG>Investors are cautioned not to assume
        that any part or all of mineral deposits in these categories will ever
        be</STRONG> <STRONG>converted into SEC defined reserves.</STRONG> </TD>
  </TR>
</TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Proven and Probable Reserves
  on the Prosperity Project are included in the Measured and Indicated Mineral
  Resources disclosed in Table 4 below. The Mineral Resources are as outlined by
  drilling to date, and estimated at a 0.14% copper cut-off.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<A name=page_15></A>
<P align=center>- 11 -</P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Table 4 <BR>
  Prosperity Mineral
  Resources <BR>
  at 0.14% Copper Cut-Off</B></P>
<DIV align=center>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="70%" border=1>
    <TR vAlign=top>
      <TD align=left><BR>
          <B>Category</B> </TD>
      <TD align=center width="25%"><B>Tonnes</B> <BR>
          <B>(millions)</B> </TD>
      <TD align=center width="25%"><B>Gold</B> <BR>
          <B>(g/t)</B> </TD>
      <TD align=center width="25%"><B>Copper</B> <BR>
          <B>(%)</B> </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left><B>Measured</B> </TD>
      <TD align=center width="25%">547.1 </TD>
      <TD align=center width="25%">0.46 </TD>
      <TD align=center width="25%">0.27 </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left><B>Indicated</B> </TD>
      <TD align=center width="25%">463.4 </TD>
      <TD align=center width="25%">0.34 </TD>
      <TD align=center width="25%">0.21 </TD>
    </TR>
    <TR vAlign=top>
      <TD align=left><B>Total</B> </TD>
      <TD align=center width="25%"><B>1,010.5</B> </TD>
      <TD align=center width="25%"><B>0.41</B> </TD>
      <TD align=center width="25%"><B>0.24</B> </TD>
    </TR>
  </TABLE>
</DIV>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko carried out ongoing and
  systematic exploration programs on the Prosperity Project from 1991 to 1999,
  drilling 156,339 m in 470 holes and outlining a large porphyry gold-copper
  deposit. Taseko re-initiated work on the Prosperity Project in late 2005, and a
  mill redesign and project cost review was completed in 2006.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on ongoing feasibility work
  through 2007, the following development and production scenario is envisaged.
  Activities during a pre-production period of two years would include
  construction of the electricity transmission line; upgrading and extension of
  current road access and mine site clearing; site infrastructure, processing, and
  tailings starter dam construction; removal and storage of overburden; and
  pre-production waste development.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The mine plan utilizes a
  large-scale conventional truck and shovel open pit mining and milling operation.
  Following a one and a half year pre-strip period, total material moved over
  years one through 31 averages 170,000 tonnes/day at a strip ratio of 1.5:1. A
  declining net smelter return cut-off is applied to the mill feed, which defers
  lower grade ore for later processing. The lower grade ore is recovered from
  stockpile for the final years of the mine plan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prosperity Project processing
  plant has been designed with a nominal capacity of 70,000 tonnes/day. Expected
  life-of-mine metallurgical recovery is 87% for copper and 69% for gold, with
  annual production averaging 110 million pounds copper and 234,000 ounces gold
  over the 33 year mine life. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The copper-gold concentrate will
  be hauled with highway trucks to an expanded load-out facility at Gibraltar&#146;s
  existing facility near Macalister for rail transport to various points of sale,
  but mostly through the Port of Vancouver for shipment to smelters and refineries
  around the world.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power will be supplied via a new
  124 km long, 230 kV transmission line from Dog Creek on the BC Hydro grid.
  Infrastructure would also include the upgrade of sections of the existing road
  to the site, construction of a short spur to the minesite, an on-site camp,
  equipment maintenance shop, administration office, concentrator facility,
  warehouse, and explosives facilities. Based on the Prosperity Technical Report,
  the Prosperity Project would employ up to 460 permanent and 60 contractor
  personnel. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May 12, 2010, the Company
  entered into a gold stream transaction with Franco-Nevada Corporation
  (&#147;Franco-Nevada&#148;), under which Franco-Nevada will purchase gold equal to 22% of
  the life of mine gold produced at the project. Staged cash deposits aggregating
  US$350 million will be paid during mine construction, and two million
  Franco-Nevada warrants will be issued on the date of the first advance of the
  cash payment. For each ounce of gold delivered to Franco-Nevada, Taseko will
  receive a further cash payment of US$400/oz (subject to an inflationary
  adjustment) or the prevailing market price, if lower. The deposit will be
  credited with the difference between US$400/oz and the market price of gold for
  each ounce delivered until the deposit is fully credited. Each warrant is
  exercisable to purchase one Franco-Nevada common share at a price of $75.00
  until June 16, 2017 and will be listed under the same terms as the warrants
  listed on TSX under the symbol FNV.WT.A. The conditions to funding the gold
  stream include obtaining full financing of the project, receipt of all material
  permits to construct and operate Prosperity, and securing marketing arrangements
  for the majority of the concentrate. Franco-Nevada may terminate this agreement
  on ten business days&#146; written notice to Taseko. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_16></A>
<P align=center>- 12 -</P>
<P align=justify><B>Aley Niobium Project</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January 10, 2011, Taseko
  announced that its late 2010 core drilling program completed at the Aley Project
  was a success. Assay results indicated potential for development of a
  significant niobium resource. The Aley Project had not previously been
  considered material to Taseko, but ongoing work at the Aley Project may make it
  so.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko's 2010 exploration program
  consisted of geological mapping and diamond drilling of 23 drill holes (2010-12
  through 2010-34), for a total of 4,460 metres. Assay results for 21 of these
  drill holes were released, and holes intersected excellent grade niobium
  mineralization across an area measuring over 900 metres east-west and 350 metres
  north-south. Mineralized drill intercepts range up to over 200 metres in length;
  the true widths will be determined by further delineation drilling. Niobium
  mineralization intersected is highly continuous and close to surface. The
  extensive body of niobium mineralization indicated by the 2010 drilling is open
  to expansion in at least three directions and to depth. </P>
<P align=justify><B>Harmony Project</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company estimates that the
  Harmony Project hosts up to a 3 million ounce gold resource; however opposition
  to mining in Haida Gwai&#146;i, infrastructure challenges due to the project&#146;s
  location on an island, and Taseko&#146;s focus on Gibraltar and the Prosperity
  Project has resulted in the Company undertaking property maintenance and
  environmental monitoring activities at Harmony for the last 10 years. In late
  2007, after the Queen Charlotte-Haida Gwaii Land and Resource Management Plan
  designated the area in which the Harmony Project is located as a mineral
  development zone, Taseko initiated a review of the metallurgical flow sheet and
  prior mine development planning to establish further work programs. The Company
  plans to carry out additional work on the project in 2011.</P>
<P align=justify><B>Recent Developments</B></P>
<P align=justify><B><I>Environmental Review Process</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prosperity Project received
  approval under the <I>Environmental Assessment Act </I>(British Columbia) on
  January 14, 2010. The Federal Panel process, in which public hearings were
  conducted by a three-person panel operating under defined Terms of Reference,
  concluded on May 3, 2010. The Federal Panel submitted its findings to the
  Canadian Federal Minister of Environment on July 2, 2010. The panel findings
  were essentially the same as the conclusions reached in the Provincial
  Environmental Assessment, being that loss of Fish Lake and the adjacent meadows
  would result in significant adverse environmental effects; however, the
  provincial process concluded that the environmental impacts were justified
  because the lake and fishery will be replaced and the economic and social
  benefits generated are significant, but the panel was not mandated to assess
  economic and social value generated by the Prosperity Project.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 2, 2010, the Federal
  Minister of Environment announced that the Prosperity Project &#147;as proposed&#148;
  cannot be granted federal authorization to proceed. Taseko undertook discussions
  with both the Federal and Provincial Governments to define the issues and
  determine if solutions can be developed so that the Prosperity Project can move
  forward and meet the criteria that the Federal Government deems appropriate. As
  a result, on February 21, 2011, the Company submitted a new Project Description
  for the Prosperity Project with the Government of Canada. The revised plan
  addresses concerns indentified in the federal review process by reducing
  environmental impacts, preserving Fish Lake and its aquatics, and enabling all
  mine operations and related components to be contained within one single
  watershed. There can be no certainty that this resubmission or any other
  submission will ultimately result in Federal Government approval for the
  Prosperity Project.</P>
<P align=center><B>USE OF PROCEEDS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise indicated in a
  prospectus supplement, Taseko intends to use the net proceeds from the sale of
  the Securities to fund a portion of the GDP-3 expansion of the Gibraltar Mine
  and for general working capital purposes. More detailed information regarding the use of
  proceeds from the sale of the Securities may be described in any applicable
  prospectus supplement. Pending the application of the net proceeds, Taseko
  intends to invest the net proceeds in investment-grade, interest-bearing
  securities, the primary objectives of which are liquidity and capital
  preservation.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_17></A>
<P align=center>- 13 -</P>
<P align=center><B>CONSOLIDATED CAPITALIZATION</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized share capital of
  the Company consists of an unlimited number of common shares without par value,
  of which 189,153,687 were issued and outstanding as at April 1, 2011. Since
  December 31, 2010, the date of the Company&#146;s most recently filed financial
  statements, there have been no material changes in the Company&#146;s consolidated
  share capital, other than the issuance of 1,655,834 common shares of the Company
  and the issuance of 2,270,000 share options at the exercise price of $5.13.</P>
<P align=center><B>PRIOR SALES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the 12-month period before
  the date of this prospectus, the Company issued the following common shares and
  securities convertible into common shares:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;<B>Aggregate Number and Type of</B>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Date of
      Issuance</B> </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Securities Issued</B> </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 1, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>21,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 6, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">53,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 6, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>100,000 Options </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$5.39 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 9, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">31,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 9, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>7,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 12, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">1,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 14, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>11,500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 14, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">10,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 15, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>3,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 19, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">30,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.03 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 20, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>21,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>April 20, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">30,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>April 27, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>May 4, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">33,667 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.71 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>May 13, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>7,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>May 18, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">90,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>May 26, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>10,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 16, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">50,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>June 21, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>1,500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 25, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">67,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.71 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>June 25, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>25,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 29, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">6,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>June 29, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>4,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 30, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">22,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>July 2, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>50,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>July 7, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>July 8, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>3,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>August 13, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">100,000 Common Shares* </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.25 (deemed) </TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=-->
<A name=page_18></A>
<P align=center>- 14 -</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;<B>Aggregate Number and Type of</B>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Date of
      Issuance</B> </TD>
    <TD width="5%" align=center  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Securities Issued</B> </TD>
    <TD width="5%" align=center
     >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>August 16, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>4,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>August 17, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">2,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>August 31, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>4,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>September 13, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">4,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>September 16, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>160,000 Options </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.61 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>September 20, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">4,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>September 22, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>September 23, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>September 29, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>1,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 1, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">3,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 5, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>11,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 5, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">2,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 6, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>67,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 7, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">11,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 7, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>4,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 8, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">14,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 8, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>5,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 8, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">1,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 12, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>24,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.17 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 12, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">1,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 13, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>7,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.17 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 13, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">6,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 13, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>23,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 14, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">33,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 14, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>5,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 19, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">2,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 26, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>5,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>October 26, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">8,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>October 29, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>November 1, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>November 1, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>November 12, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">100,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>November 17, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>100,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 9, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">1,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 10, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>42,500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 13, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">55,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 13, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 14, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">14,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 15, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 16, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 16, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>50,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 16, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">50,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$2.18 </TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=-->
<A name=page_19></A>
<P align=center>- 15 -</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;<B>Aggregate Number and Type of</B>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Date of
      Issuance</B> </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Securities Issued</B> </TD>
    <TD align=center width="5%"
     >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="29%"><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 17, 2010 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>13,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 20, 2010 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">21,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 4, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,270,000 Options </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$5.13 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 5, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 6, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>25,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 7, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">3,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 10, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 11, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">2,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 13, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>16,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 17, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">50,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.14 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 17, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>4,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.17 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 17, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">14,500 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 18, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>100,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 25, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">1,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 28, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>25,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 2, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">10,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.50 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 2, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>50,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 2, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">45,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 3, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>9,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 4, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">3,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 4, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>2,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 9, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">33,334 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 15, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>87,200 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$6.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 16, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">8,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 16, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>9,500 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 17, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">25,000 Common Shares* </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$6.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 17, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>887,800 Common Shares* </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$6.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 23, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">4,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>February 23, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>210,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$1.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>February 28, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">5,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>March 4, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>75,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>March 24, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">4,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$4.77 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>March 28, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>50,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>March 28, 2011 </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">60,000 Common Shares </TD>
    <TD align=center width="5%"  >&nbsp;</TD>
    <TD align=center width="29%">$2.18 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>March 28, 2011 </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>40,000 Common Shares </TD>
    <TD align=center width="5%"  bgColor=#e6efff
    >&nbsp;</TD>
    <TD align=center width="29%" bgColor=#e6efff>$2.63 </TD>
  </TR>
</TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=-->
<A name=page_20></A>
<P align=center>- 16 -</P>
<P align=justify>Note:</P>
<P align=justify>* All common shares were issued pursuant to the exercise of
  stock options unless otherwise indicated with a *</P>
<P align=justify><B>TRADING PRICE AND VOLUME</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s common shares are
  listed on the TSX and Amex under the trading symbol &#147;TKO&#148; and &#147;TGB&#148;,
  respectively. The following tables set forth information relating to the trading
  of the common shares on the TSX and Amex for the months indicated.</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>&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>TSX Price Range</B> </TD>
    <TD align=center >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;<B>Month</B> </TD>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>High</B> </TD>
    <TD align=center >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Low</B> </TD>
    <TD align=center >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Total Volume</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD width="20%" align=left bgColor=#e6efff>March 2010 </TD>
    <TD width="5%" align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD width="20%" align=center bgColor=#e6efff>5.36 </TD>
    <TD width="5%" align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD width="20%" align=center bgColor=#e6efff>4.74 </TD>
    <TD width="5%" align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD width="25%" align=center bgColor=#e6efff>17,347,300 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>April 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>6.19 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.33 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>19,376,400 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>May 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.17 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.67 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>26,141,300 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>June 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.54 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.50 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>10,901,800 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>July 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.49 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>3.27 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>19,507,300 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>August 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>4.85 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.07 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>10,408,800 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>September 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>5.55 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.44 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>17,219,400 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>October 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>7.27 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.58 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>24,460,300 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>November 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.72 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.13 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>31,648,100 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>December 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.34 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.51 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>10,011,500 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>January 2011 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.10 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.84 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>21,274,900 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>February 2011 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>6.22 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.13 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>11,550,400 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>March 2011 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.22 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>5.13 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>13,767,100 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>April 1, 2011 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.77 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.71 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>153,100 </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=left>&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD
    colSpan=3 align=center style="BORDER-BOTTOM: #000000 1px solid"><B>Amex Price Range (in US$)</B> </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;<B>Month</B> </TD>
    <TD width="5%" align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>High</B> </TD>
    <TD width="5%" align=center >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Low</B> </TD>
    <TD width="5%" align=center >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Total Volume</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD width="20%" align=left bgColor=#e6efff>March 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD width="20%" align=center bgColor=#e6efff>5.25 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD width="20%" align=center bgColor=#e6efff>4.59 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>38,840,700 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>April 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>6.21 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.25 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>44,072,500 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>May 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.05 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.35 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>71,796,000 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>June 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.28 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.22 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>38,526,300 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>July 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.36 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>3.31 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>46,334,200 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>August 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>4.71 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>3.90 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>31,060,800 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>September 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>5.40 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.28 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>38,134,500 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>October 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>7.23 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.58 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>93,091,700 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>November 2010 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.62 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.02 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>125,700,200 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>December 2010 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.29 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>4.43 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>61,288,800 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>January 2011 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.06 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>4.85 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>79,347,500 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>February 2011 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>6.33 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.18 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>38,706,500 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>March 2011 </TD>
    <TD align=left  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>6.38 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>5.18 </TD>
    <TD align=center  bgColor=#e6efff>&nbsp;</TD>
    <TD align=center bgColor=#e6efff>49,916,600 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>April 1, 2011 </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=center>5.91 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>5.99 </TD>
    <TD align=center >&nbsp;</TD>
    <TD align=center>917,000 </TD>
  </TR>
</TABLE>
<BR>
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<A name=page_21></A>
<P align=center>- 17 -</P>
<P align=center><B>PLAN OF DISTRIBUTION</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may sell Securities
  to or through underwriters or dealers and also may sell Securities directly to
  purchasers or through agents. The distribution of Securities may be effected
  from time to time in one or more transactions at a fixed price or prices, which
  may be changed, at market prices prevailing at the time of sale, or at prices
  related to such prevailing market prices to be negotiated with purchasers and as
  set forth in an accompanying prospectus supplement. In connection with the sale
  of Securities, underwriters may receive compensation from the Company or from
  purchasers of Securities for whom they may act as agents in the form of
  discounts, concessions or commissions. Underwriters, dealers and agents that
  participate in the distribution of Securities may be deemed to be underwriters
  and any discounts or commissions received by them from the Company and any
  profit on the resale of Securities by them may be deemed to be underwriting
  discounts and commissions under applicable securities legislation.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If so indicated in the applicable
  prospectus supplement, the Company may authorize dealers or other persons acting
  as the Company&#146;s agents to solicit offers by certain institutions to purchase
  the Securities directly from the Company pursuant to contracts providing for
  payment and delivery on a future date. These contracts will be subject only to
  the conditions set forth in the applicable prospectus supplement or supplements,
  which will also set forth the commission payable for solicitation of these
  contracts.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus qualifies
  Securities. The specific terms of any offering of Securities will be described
  in the applicable prospectus supplement. The prospectus supplement relating to
  any offering of Securities will set forth the terms of the offering of the
  Securities, including, to the extent applicable, the initial offering price, the
  proceeds to the Company, the underwriting discounts or commissions, the currency
  in which the Securities may be issued and any other discounts or concessions to
  be allowed or reallowed to dealers. Any underwriters involved with respect to
  any offering of Securities sold to or through underwriters will be named in the
  prospectus supplement relating to such offering.</P>
<P align=center><B>DESCRIPTION OF SECURITIES</B></P>
<P align=justify><B>Common Shares</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of Common Shares are
  entitled to receive notice of any meeting of the shareholders of the Company and
  to attend and vote thereat, except those meetings at which only the holders
  shares of another class or of a particular series are entitled to vote. Each
  Common Share entitles its holder to one vote. Subject to the rights of the
  holders of preferred shares, the holders of Common Shares are entitled to
  receive on a pro-rata basis such dividends as the board of directors may declare
  out of funds legally available therefor. In the event of the dissolution,
  liquidation, winding-up or other distribution of our assets, such holders are
  entitled to receive on a pro-rata basis all of assets of the Company remaining
  after payment of all of liabilities, subject to the rights of holders of
  preferred shares. The Company&#146;s common shares carry no pre-emptive or conversion
  rights.</P>
<P align=justify><B>Warrants</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This section describes the
  general terms that will apply to any Warrants for the purchase of Common Shares.
  The Company will not offer Warrants for sale unless the applicable prospectus
  supplement containing the specific terms of the Warrants to be offered
  separately is first approved, in accordance with applicable laws, for filing by
  the securities commissions or similar regulatory authorities in each of the
  jurisdictions where the Warrants will be offered for.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing, the
  Company may issue Warrants independently or together with other securities, and
  Warrants sold with other securities may be attached to or separate from the
  other securities. Warrants may be issued directly by us to the purchasers
  thereof or under one or more warrant indentures or warrant agency agreements to
  be entered into by us and one or more banks or trust companies acting as warrant
  agent.</P>
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<A name=page_22></A>
<P align=center>- 18 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary of some of the
  provisions of the Warrants is not complete. The statements made in this
  Prospectus relating to any warrant agreement and Warrants to be issued under
  this Prospectus are summaries of certain anticipated provisions thereof and do
  not purport to be complete and are subject to, and are qualified in their
  entirety by reference to, all provisions of the applicable warrant agreement.
  Investors should refer to the warrant indenture or warrant agency agreement
  relating to the specific warrants being offered for the complete terms of the
  Warrants. A copy of any warrant indenture or warrant agency agreement relating
  to an offering of Warrants will be filed by Taseko with the applicable
  securities regulatory authorities in Canada following its execution.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The particular terms of each
  issue of Warrants will be described in the applicable prospectus supplement.
  This description will include, where applicable:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the designation (series or otherwise) and aggregate number of Warrants; </P>
  <LI>
    <P>the price at which the Warrants will be offered; </P>
  <LI>
    <P>the currency or currencies in which the Warrants will be offered; </P>
  <LI>
    <P>the date on which the right to exercise the Warrants will commence and the
      date on which the right will expire; </P>
  <LI>
    <P>whether the warrants will be listed on a recognized stock exchange; </P>
  <LI>
    <P>the number of common shares that may be purchased upon exercise of each
      Warrant and the price at which and currency or currencies in which the Common
      Shares may be purchased upon exercise of each Warrant; </P>
  <LI>
    <P>the designation and terms of any securities with which the Warrants will be
      offered, if any, and the number of the Warrants that will be offered with each
      security; </P>
  <LI>
    <P>the date or dates, if any, on or after which the Warrants and the related
      securities will be transferable separately; </P>
  <LI>
    <P>whether the Warrants will be subject to redemption and, if so, the terms of
      such redemption provisions; </P>
  <LI>
    <P>material Canadian and United States federal income tax consequences of
      owning the Warrants; and </P>
  <LI>
    <P>any other material terms or conditions of the Warrants. </P>
  </LI>
</UL>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_23></A>
<P align=center>- 19 -</P>
<P align=justify><B>Subscription Receipts</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This section describes the
  general terms that will apply to any subscription receipts that may be offered
  by the Company pursuant to this Prospectus. Subscription receipts may be offered
  separately or together with Common Shares or Warrants, as the case may be. The
  subscription receipts will be issued under a subscription receipt agreement. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event the Company issues
  subscription receipts, the Company will provide the original purchasers of
  subscription receipts a contractual right of rescission exercisable following
  the issuance of common shares to such purchasers.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable prospectus
  supplement will include details of the subscription receipt agreement covering
  the subscription receipts being offered. A copy of the subscription receipt
  agreement relating to an offering of subscription receipts will be filed by the
  Company with the applicable securities regulatory authorities after it has been
  entered into by the Company. The specific terms of the subscription receipts,
  and the extent to which the general terms described in this section apply to
  those subscription receipts, will be set forth in the applicable prospectus
  supplement. This description will include, where applicable:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the number of subscription receipts; </P>
  <LI>
    <P>the price at which the subscription receipts will be offered; </P>
  <LI>
    <P>the procedures for the exchange of the subscription receipts into Common
      Shares or Warrants; </P>
  <LI>
    <P>the number of Common Shares or Warrants that may be exchanged upon exercise
      of each subscription receipt; </P>
  <LI>
    <P>the designation and terms of any other securities with which the
      subscription receipts will be offered, if any, and the number of subscription
      receipts that will be offered with each security; </P>
  <LI>
    <P>terms applicable to the gross or net proceeds from the sale of the
      subscription receipts plus any interest earned thereon; </P>
  <LI>
    <P>material Canadian and United States income tax consequences of owning the
      subscription receipts; and </P>
  <LI>
    <P>any other material terms and conditions of the subscription receipts. </P>
  </LI>
</UL>
<P align=justify><B>Units</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue Units
  comprised of one or more of the other Securities described in the Prospectus in
  any combination. Each Unit will be issued so that the holder of the Unit is also
  the holder of each of the Securities included in the Unit. Thus, the holder of a
  Unit will have the rights and obligations of a holder of each included Security.
  The unit agreement, if any, under which a Unit is issued may provide that the
  Securities included in the Unit may not be held or transferred separately, at
  any time or at any time before a specified date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The particular terms and
  provisions of Units offered by any prospectus supplement, and the extent to
  which the general terms and provisions described below may apply thereto, will
  be described in the prospectus supplement filed in respect of such Units.</P>
<P align=justify><B>Debt Securities</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue debt
  securities (&#147;Debt Securities&#148;) in one or more series under an indenture (the
  &#147;Indenture&#148;), to be entered into among the Company, a Canadian trustee and a
  U.S. trustee. The Indenture will be subject to and governed by the United States
  Trust Indenture Act of 1939, as amended (the &#147;Trust Indenture Act&#148;). </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_24></A>
<P align=center>- 20 -</P>
<P align=justify>A copy of the form of the Indenture will be filed with the SEC
  as an exhibit to the registration statement of which this Prospectus forms a
  part. The following description sets forth certain general material terms and
  provisions of the Debt Securities and is not intended to be complete. For a more
  complete description, prospective investors should refer to the Indenture and
  the terms of the Debt Securities. If Debt Securities are issued, the Company
  will describe in the applicable Prospectus Supplement the particular terms and
  provisions of any series of the Debt Securities and a description of how the
  general terms and provisions described below may apply to that series of the
  Debt Securities. Prospective investors should rely on information in the
  applicable Prospectus Supplement and not on the following information to the
  extent that the information in such Prospectus Supplement is different from the
  following information. The Company will file as exhibits to the registration
  statement of which this Prospectus is a part, or will incorporate by reference
  from a report on Form 6-K that the Company furnishes to the SEC, any
  supplemental indenture describing the terms and conditions of Debt Securities
  the Company is offering before the issuance of such Debt Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue debt
  securities and incur additional indebtedness other than through the offering of
  Debt Securities pursuant to this Prospectus.</P>
<P align=justify><B><I>General</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture will not limit the
  aggregate principal amount of Debt Securities that the Company may issue under
  the Indenture and will not limit the amount of other indebtedness that the
  Company may incur. The Indenture will provide that the Company may issue Debt
  Securities from time to time in one or more series and may be denominated and
  payable in U.S. dollars, Canadian dollars or any foreign currency. Unless
  otherwise indicated in the applicable Prospectus Supplement, the Debt Securities
  will be unsecured obligations of the Company. The Indenture will also permit the
  Company to increase the principal amount of any series of the Debt Securities
  previously issued and to issue that increased principal amount.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable Prospectus
  Supplement for any series of Debt Securities that the Company offers will
  describe the specific terms of the Debt Securities and may include, but is not
  limited to, any of the following:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the title of the Debt Securities; </P>
  <LI>
    <P>the aggregate principal amount of the Debt Securities; </P>
  <LI>
    <P>the percentage of principal amount at which the Debt Securities will be
      issued; </P>
  <LI>
    <P>whether payment of principal, interest and premium, if any, on the Debt
      Securities will be senior or subordinated to the Company&#146;s other liabilities
      or obligations; </P>
  <LI>
    <P>whether payment of the Debt Securities will be guaranteed by any other
      person; </P>
  <LI>
    <P>the date or dates, or the methods by which such dates will be determined or
      extended, on which the Company may issue the Debt Securities and the date or
      dates, or the methods by which such dates will be determined or extended, on
      which the Company will pay the principal on the Debt Securities and the
      portion (if less than the principal amount) of Debt Securities to be payable
      upon a declaration of acceleration of maturity; </P>
  <LI>
    <P>whether the Debt Securities will bear interest, the interest rate (whether
      fixed or variable) or the method of determining the interest rate, the date
      from which interest will accrue, the dates on which the Company will pay
      interest and the record dates for interest payments, or the methods by which
      such dates will be determined; </P>
  <LI>
    <P>the place or places the Company will pay principal, premium and interest,
      if any, and the place or places where Debt Securities can be presented for
      registration of transfer, exchange or conversion; </P>
  </LI>
</UL>
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<A name=page_25></A>
<P align=center>- 21 -</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>whether and under what circumstances the Company will be required to pay
      any additional amounts for withholding or deduction for Canadian taxes with
      respect to the Debt Securities, and whether and on what terms the Company will
      have the option to redeem the Debt Securities rather than pay the additional
      amounts; </P>
  <LI>
    <P>whether the Company will be obligated to redeem, repay or repurchase the
      Debt Securities pursuant to any sinking or other provision, or at the option
      of a holder and the terms and conditions of such redemption, repayment or
      repurchase; </P>
  <LI>
    <P>whether the Company may redeem the Debt Securities, in whole or in part,
      prior to maturity and the terms and conditions of any such redemption; </P>
  <LI>
    <P>the denominations in which the Company will issue any registered Debt
      Securities, if other than denominations of $2,000 and integral multiples of
      $l,000 in excess thereof and, if other than denominations of $5,000 and
      integral multiples of $5,000, the denominations in which any unregistered Debt
      Security shall be issuable; </P>
  <LI>
    <P>whether the Company will make payments on the Debt Securities in a currency
      other than U.S. dollars; </P>
  <LI>
    <P>whether payments on the Debt Securities will be payable with reference to
      any index, formula or other method; </P>
  <LI>
    <P>whether the Company will issue the Debt Securities as global securities
      and, if so, the identity of the depositary for the global securities; </P>
  <LI>
    <P>whether the Company will issue the Debt Securities as unregistered
      securities, registered securities or both; </P>
  <LI>
    <P>any changes or additions to, or deletions of, events of default or
      covenants whether or not such events of default or covenants are consistent
      with the events of default or covenants in the Indenture; </P>
  <LI>
    <P>the applicability of, and any changes or additions to, the provisions for
      defeasance described under &#147;Defeasance&#148; below; </P>
  <LI>
    <P>whether the holders of any series of Debt Securities have special rights if
      specified events occur; </P>
  <LI>
    <P>the terms, if any, for any conversion or exchange of the Debt Securities
      for any other securities; </P>
  <LI>
    <P>provisions as to modification, amendment or variation of any rights or
      terms attaching to the Debt Securities; and </P>
  <LI>
    <P>any other terms, conditions, rights and preferences (or limitations on such
      rights and preferences). </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless stated otherwise in the
  applicable Prospectus Supplement, no holder of Debt Securities will have the
  right to require the Company to repurchase the Debt Securities and there will be
  no increase in the interest rate if the Company becomes involved in a highly
  leveraged transaction or the Company has a change of control.</P>
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<A name=page_26></A>
<P align=center>- 22 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue Debt
  Securities bearing no interest or interest at a rate below the prevailing market
  rate at the time of issuance, and offer and sell the Debt Securities at a
  discount below their stated principal amount. The Company may also sell any of
  the Debt Securities for a foreign currency or currency unit, and payments on the
  Debt Securities may be payable in a foreign currency or currency unit. In any of
  these cases, the Company will describe certain Canadian federal and U.S. federal
  income tax consequences and other special considerations in the applicable
  Prospectus Supplement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue Debt
  Securities with terms different from those of Debt Securities previously issued
  and, without the consent of the holders thereof, the Company may reopen a
  previous issue of a series of Debt Securities and issue additional Debt
  Securities of such series (unless the reopening was restricted when such series
  was created).</P>
<P align=justify><B><I>Guarantees</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s payment obligations
  under any series of Debt Securities may be guaranteed by certain of the
  Company&#146;s direct or indirect subsidiaries. In order to comply with certain
  registration statement form requirements under U.S. law, these guarantees may in
  turn be guaranteed by the Company. The terms of such guarantees will be set
  forth in the applicable Prospectus Supplement.</P>
<P align=justify><B><I>Ranking and Other Indebtedness</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise indicated in the
  applicable Prospectus Supplement, the Debt Securities will be unsecured
  obligations and will rank equally with all of the Company&#146;s other unsecured and
  senior debt from time to time outstanding and equally with other Debt Securities
  issued under the Indenture. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Board of Directors
  may establish whether the payment of principal, premium, if any, and interest,
  if any, will be guaranteed by any other person and the nature and priority of
  any security.</P>
<P align=justify><B><I>Ownership Registration of Debt Securities </I></B></P>
<P align=justify><I>The Depositary and Book-Entry </I></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in the
  applicable Prospectus Supplement, a series of the Debt Securities may be issued
  in whole or in part in global form as a &#147;global security&#148; and will be registered
  in the name of or issued in bearer form and be deposited with a depositary, or
  its nominee, each of which will be identified in the applicable Prospectus
  Supplement relating to that series. Unless and until exchanged, in whole or in
  part, for the Debt Securities in definitive registered form, a global security
  may not be transferred except as a whole by the depositary for such global
  security to a nominee of the depositary, by a nominee of the depositary to the
  depositary or another nominee of the depositary or by the depositary or any such
  nominee to a successor of the depositary or a nominee of the successor.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The specific terms of the
  depositary arrangement with respect to any portion of a particular series of the
  Debt Securities to be represented by a global security will be described in the
  applicable Prospectus Supplement relating to such series. The Company
  anticipates that the provisions described in this section will apply to all
  depositary arrangements.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the issuance of a global
  security, the depositary therefor or its nominee will credit, on its book entry
  and registration system, the respective principal amounts of the Debt Securities
  represented by the global security to the accounts of such persons, designated
  as &#147;participants&#148;, having accounts with such depositary or its nominee. Such
  accounts shall be designated by the underwriters, dealers or agents
  participating in the distribution of the Debt Securities or by the Company if
  such Debt Securities are offered and sold directly by the Company. Ownership of
  beneficial interests in a global security will be limited to participants or
  persons that may hold beneficial interests through participants. Ownership of
  beneficial interests in a global security will be shown on, and the transfer of
  that ownership will be effected only through, records maintained by the
  depositary therefor or its nominee (with respect to interests of participants)
  or by participants or persons that hold through participants (with respect to
  interests of persons other than participants). The laws of some states in
  the United States may require that certain purchasers of securities take
  physical delivery of such securities in definitive form.</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as the depositary for a
  global security or its nominee is the registered owner of the global security or
  holder of a global security in bearer form, such depositary or such nominee, as
  the case may be, will be considered the sole owner or holder of the Debt
  Securities represented by the global security for all purposes under the
  Indenture. Except as provided below, owners of beneficial interests in a global
  security will not be entitled to have a series of the Debt Securities
  represented by the global security registered in their names, will not receive
  or be entitled to receive physical delivery of such series of the Debt
  Securities in definitive form and will not be considered the owners or holders
  thereof under the Indenture.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any payments of principal,
  premium, if any, and interest, if any, on global securities registered in the
  name of a depositary or securities registrar will be made to the depositary or
  its nominee, as the case may be, as the registered owner of the global security
  representing such Debt Securities. None of the Company, any trustee or any
  paying agent for the Debt Securities represented by the global securities will
  have any responsibility or liability for any aspect of the records relating to
  or payments made on account of beneficial ownership interests of the global
  security or for maintaining, supervising or reviewing any records relating to
  such beneficial ownership interests.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company expects that the
  depositary for a global security or its nominee, upon receipt of any payment of
  principal, premium, if any, or interest, if any, will credit participants&#146;
  accounts with payments in amounts proportionate to their respective beneficial
  interests in the principal amount of the global security as shown on the records
  of such depositary or its nominee. The Company also expects that payments by
  participants to owners of beneficial interests in a global security held through
  such participants will be governed by standing instructions and customary
  practices, as is now the case with securities held for the accounts of customers
  registered in &#147;street name&#148;, and will be the responsibility of such
  participants.</P>
<P align=justify><I>Discontinuance of Depositary&#146;s Services </I></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a depositary for a global
  security representing a particular series of the Debt Securities at any time
  notifies the Company that it is unwilling or unable to continue as depositary
  or, if at any time the depositary for such series shall no longer be registered
  or in good standing under the Exchange Act, and a successor depositary is not
  appointed by us within 90 days, the Company will issue such series of the Debt
  Securities in definitive form in exchange for a global security representing
  such series of the Debt Securities. If an event of default under the Indenture
  has occurred and is continuing, Debt Securities in definitive form will be
  printed and delivered upon written request by the holder to the appropriate
  trustee. </P>
<P align=justify><B><I>Debt Securities in Definitive Form</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A series of the Debt Securities
  may be issued in definitive form, solely as registered securities, solely as
  unregistered securities or as both registered securities and unregistered
  securities. Registered securities will be issuable in denominations of $2,000
  and integral multiples of $1,000 in excess thereof, and unregistered securities
  will be issuable in denominations of $5,000 and integral multiples of $5,000 or,
  in each case, in such other denominations as may be set out in the terms of the
  Debt Securities of any particular series. Unless otherwise indicated in the
  applicable Prospectus Supplement, unregistered securities will have interest
  coupons attached.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise indicated in the
  applicable Prospectus Supplement, payment of principal, premium, if any, and
  interest, if any, on the Debt Securities (other than global securities) will be
  made at the office or agency designated by the Company, or at the Company&#146;s
  option the Company can pay principal, interest, if any, and premium, if any, by
  check mailed to the address of the person entitled at the address appearing in
  the security register of the trustee or electronic funds wire transfer to an
  account of persons who meet certain thresholds set out in the Indenture who are
  entitled to receive payments by wire transfer. Unless otherwise indicated in the
  applicable Prospectus Supplement, payment of interest, if any, will be made to
  the persons in whose name the Debt Securities are registered at the close of
  business on the day or days specified by the Company.</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the option of the holder of
  Debt Securities, registered securities of any series will be exchangeable for
  other registered securities of the same series, of any authorized denomination
  and of a like aggregate principal amount. If, but only if, provided in an
  applicable Prospectus Supplement, unregistered securities (with all unmatured
  coupons, except as provided below, and all matured coupons in default) of any
  series may be exchanged for registered securities of the same series, of any
  authorized denominations and of a like aggregate principal amount and tenor. In
  such event, unregistered securities surrendered in a permitted exchange for
  registered securities between a regular record date or a special record date and
  the relevant date for payment of interest shall be surrendered without the
  coupon relating to such date for payment of interest, and interest will not be
  payable on such date for payment of interest in respect of the registered
  security issued in exchange for such unregistered security, but will be payable
  only to the holder of such coupon when due in accordance with the terms of the
  Indenture. Unless otherwise specified in an applicable Prospectus Supplement,
  unregistered securities will not be issued in exchange for registered
  securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable Prospectus
  Supplement may indicate the places to register a transfer of the Debt Securities
  in definitive form. Service charges may be payable by the holder for any
  registration of transfer or exchange of the Debt Securities in definitive form,
  and the Company may, in certain instances, require a sum sufficient to cover any
  tax or other governmental charges payable in connection with these
  transactions.</P>
<P align=justify>The Company shall not be required to:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>issue, register the transfer of or exchange any series of the Debt
      Securities in definitive form during a period beginning at the opening of 15
      days before any selection of securities of that series of the Debt Securities
      to be redeemed and ending on the relevant date of notice of such redemption,
      as provided in the Indenture; </P>
  <LI>
    <P>register the transfer of or exchange any registered security in definitive
      form, or portion thereof, called for redemption, except the unredeemed portion
      of any registered security being redeemed in part; </P>
  <LI>
    <P>exchange any unregistered security called for redemption except to the
      extent that such unregistered security may be exchanged for a registered
      security of that series and like tenor; provided that such registered security
      will be simultaneously surrendered for redemption; or </P>
  <LI>
    <P>issue, register the transfer of or exchange any of the Debt Securities in
      definitive form which have been surrendered for repayment at the option of the
      holder, except the portion, if any, of such Debt Securities not to be so
      repaid. </P>
  </LI>
</UL>
<P align=justify><B><I>Merger, Amalgamation or Consolidation</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture will provide that
  the Company and subsidiary guarantors may not amalgamate or consolidate with,
  merge into or enter into any statutory arrangement with any other person or,
  directly or indirectly, convey, transfer or lease all or substantially all of
  the Company&#146;s or such subsidiary guarantor&#146;s properties and assets to another
  person, unless among other items,</P>
<P align=justify>In the case of the Company:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the resulting, surviving or transferee person is organized and existing
      under the laws of Canada, or any province or territory thereof, the United
      States, any state thereof or the District of Columbia, or, if the
      amalgamation, merger, consolidation, statutory arrangement or other
      transaction would not impair the rights of holders, any other country; </P>
  <LI>
    <P>the resulting, surviving or transferee person, if other than the Company,
      assumes all of the Company&#146;s obligations under the Debt Securities and the
      Indenture; and </P>
  </LI>
</UL>
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<UL style="TEXT-ALIGN: justify">
  <LI>immediately after the transaction, no default or event of default under
    the Indenture shall have happened and be continuing, </LI>
</UL>
<P align=justify>In the case of a subsidiary guarantor:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the resulting, surviving or transferee person a) shall either be the
      Company or a subsidiary guarantor, or b) is organized and existing under the
      laws of the United States, any state thereof or the District of Columbia; </P>
  <LI>
    <P>in the case of b) above, the resulting, surviving or transferee person
      assumes all of the subsidiary guarantor&#146;s obligations under the Debt
      Securities and the Indenture; and </P>
  <LI>
    <P>immediately after the transaction, no default or event of default under the
      Indenture shall have happened and be continuing. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When such a successor person
  assumes the Company&#146;s or such subsidiary guarantor&#146;s obligations in such
  circumstances, subject to certain exceptions, the Company, or such subsidiary
  guarantor, shall be discharged from all obligations and covenants under the Debt
  Securities and the Indenture.</P>
<P align=justify><B><I>Additional Amounts</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in the
  applicable Prospectus Supplement, all payments made by or on behalf of the
  Company under or with respect to the Debt Securities or guarantees (whether or
  not in the form of definitive notes) of any series will be made free and clear
  of and without withholding or deduction for or on account of any present or
  future tax, duty, levy, impost, assessment or other government charge (including
  penalties, interest and other liabilities related thereto) and for the avoidance
  of doubt, including any withholding or deduction for or on account of any of the
  foregoing (&#147;Taxes&#148;), unless the withholding or deduction is then required by law
  or by the interpretation or administration thereof by the relevant government
  authority or agency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any deduction or withholding
  for, or on account of, any Taxes imposed or levied under the laws of Canada or
  by or on behalf of any jurisdiction in which the Company or any subsidiary
  guarantor (including any successor or other surviving entity) is then
  incorporated, engaged in business or resident for tax purpose or any political
  subdivision or taxing authority thereof or therein or any jurisdiction from or
  through which payment is made by or on behalf of the Company or any subsidiary
  guarantor (including, without limitation, the jurisdiction of an paying agent)
  (each, a &#147;Tax Jurisdiction&#148;) will at any time be required to be made from any
  payments made under or with respect to the Debt Securities, including, without
  limitation, payments of principal, redemption price, purchase price, interest or
  premium, the Company or the relevant subsidiary guarantor, as applicable, will
  pay such additional amounts (&#147;Additional Amounts&#148;) as may be necessary so that
  the net amount received in respect of such payments by each holder after such
  withholding or deduction (including with respect to Additional Amounts) will not
  be less than the amount the holder would have received if such Taxes had not
  been withheld or deducted; provided, however, that no Additional Amounts will be
  payable with respect to:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>any Taxes that would not have been imposed but for the holder or beneficial
      owner of the Debt Securities being a citizen or resident or national of,
      incorporated in or carrying on a business, in the relevant Tax Jurisdiction in
      which such Taxes are imposed or having any other present or former connection
      with the relevant Tax Jurisdiction other than the mere acquisition, holding,
      enforcement or receipt of payment in respect of the Debt Securities; </P>
  <LI>
    <P>any Taxes that are imposed or withheld as a result of the failure of the
      holder or beneficial owner of the Debt Securities to comply with any
      reasonable written request, made to that holder or beneficial owner in writing
      at least 90 days before any such withholding or deduction would be payable, by
      the Company to provide timely and accurate information concerning the
      nationality, residence or identity of such holder or beneficial owner or to
      make any valid and timely declaration or similar claim or satisfy any
      certification, information or other reporting requirement, which is required
      or imposed by a statute, treaty, regulation or administrative practice of the
      relevant Tax Jurisdiction as a precondition to any exemption from or reduction
      in all or part of such Taxes; </P>
  </LI>
</UL>
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<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>any Debt Security presented for payment (where Debt Securities are in
      definitive form and presentation is required) more than 30 days after the
      relevant payment is first made available for payment to the holder or
      beneficial owner (except to the extent that the holder or beneficial owner
      would have been entitled to Additional Amounts had the Debt Security been
      presented on any day during such 30-day period); </P>
  <LI>
    <P>any estate, inheritance, gift, sale, transfer, personal property or similar
      Taxes; </P>
  <LI>
    <P>any Taxes withheld, deducted or imposed on a payment to an individual and
      that are required to be made pursuant to European Council Directive 2003/48/EC
      or any other directive implementing the conclusions of the ECOFIN Council
      meeting of 26 and 27 November 2000 on the taxation of savings income or any
      law implementing or complying with or introduced in order to conform to such
      Directive; </P>
  <LI>
    <P>any Taxes which the payor is not required to deduct or withhold from
      payments under, or with respect to, the Debt Security; </P>
  <LI>
    <P>any Taxes withheld, deducted or imposed because the holder or beneficial
      owner of the Debt Security does not deal at arm&#146;s length with the Company or a
      relevant guarantor at a relevant time for purposes of the <I>Income Tax Act </I>(Canada); or </P>
  <LI>
    <P>is subject to such Taxes by reason of any combination of the items listed
      above. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company or the relevant
  subsidiary guarantor will make all withholdings or deductions required by law
  and will remit the full amount deducted or withheld to the relevant taxing
  authority as and when required in accordance with applicable law. The Company
  will pay all taxes, interest and other liabilities which arise by virtue of any
  failure of the Company to withhold, deduct and remit to the relevant authority
  on a timely basis the full amounts required in accordance with applicable law.
  Upon request, the Company will provide to any Trustee an official receipt or, if
  official receipts are not obtainable, other documentation reasonably
  satisfactory to the Trustee evidencing the payment of any Taxes so deducted or
  withheld. The Company will attach to each certified copy or other document a
  certificate stating the amount of such Taxes paid per $1,000 principal amount of
  the Securities then outstanding. Upon request, copies of those receipts or other
  documentation, as the case may be, will be made available by the Trustees to the
  holders of the Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will indemnify the
  Trustee and each holder of the Securities for and hold them harmless against the
  full amount of any Taxes paid by or on behalf of such Trustee or such Holder to
  the extent such Trustee or such Holder was entitled to Additional Amounts with
  respect thereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company or any subsidiary
  guarantor becomes aware that it will be obligated to pay Additional Amounts with
  respect to any payment under or with respect to the Securities, the Company will
  deliver to the Trustee on a date that is at least 30 days prior to the date of
  that payment (unless the obligation to pay Additional Amounts arises after the
  30th day prior to that payment date, in which case the Company shall notify the
  Trustees promptly thereafter) an Officers&#146; Certificate stating the fact that
  Additional Amounts will be payable and the amount estimated to be so payable.
  The Company will provide the Trustee with documentation reasonably satisfactory
  to the Trustee evidencing the payment of Additional Amounts.</P>
<P align=justify>The foregoing obligations shall survive any termination,
  defeasance or discharge of the Indenture. </P>
<P align=justify><B><I>Tax Redemption</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, and to the extent specified
  in the applicable Prospectus Supplement, the Debt Securities of a series will
  be subject to redemption at any time, in whole but not in part, at the option
  of the Company at any time, at a redemption price equal to the principal amount
  thereof together with accrued and unpaid interest, if any, to the date fixed
  by the Company for redemption, upon the giving of a notice, as described below,
  if (1) the Company determines that (a) as a result of any change in or amendment
  to the laws (or any regulations or rulings promulgated thereunder) of Canada
  or by or on behalf of any jurisdiction in which the Company or any guarantor
  (including any successor or other surviving entity) is then incorporated, engaged
  in business or resident for tax purposes or any political subdivision or taxing
  authority thereof or therein or any jurisdiction from or through which payment
  is made by or on behalf of the Company </P>
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<P align=justify>or any guarantor (including, without limitation, the jurisdiction
  of a paying agent (each, a &#147;Tax Jurisdiction&#148;) affecting taxation,
  or any change in or amendment to official position of such Tax Jurisdiction
  regarding application or interpretation of such laws, regulations or rulings
  (including a holding by a court of competent jurisdiction), which change or
  amendment is announced and becomes effective on or after a date specified in
  the applicable Prospectus Supplement if any date is so specified, the Company
  has or will become obligated to pay, on the next succeeding date on which any
  amount would be payable in respect of Debt Securities, Additional Amounts or
  (b) on or after a date specified in the applicable Prospectus Supplement, any
  action has been taken by any taxing authority of, or any decision has been rendered
  by a court of competent jurisdiction in, Canada or any political subdivision
  or taxing authority thereof or therein, including any of those actions specified
  in (a) above, whether or not such action was taken or decision was rendered
  with respect to the Company, or any change, amendment, application or interpretation
  shall be officially proposed, which, in any such case, in the written opinion
  of independent tax counsel as referenced below, will result in the Company&#146;s
  becoming obligated to pay, on the next succeeding date on which any amount would
  be payable in respect of the Debt Securities, Additional Amounts with respect
  to any Debt Security issued in Canada of such series and (2) in any such case,
  the Company, in its business judgment, determines, as evidenced by the officer&#146;s
  certificate referenced below, that such obligation cannot be avoided by the
  use of reasonable measures available to the Company (including designating another
  paying agent); provided however, that (x) no such notice of redemption may be
  given earlier than 60 days prior to the earliest date on which the Company would
  be obligated to pay such Additional Amounts, and (y) at the time such notice
  of redemption is given, such obligation to pay such Additional Amounts remains
  in effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Company elects
  to redeem the Debt Securities of such series pursuant to the provisions set
  forth in the preceding paragraph, the Company shall deliver to the trustees
  a certificate, signed by an authorized officer, stating that the Company is
  entitled to redeem the Debt Securities issued of such series pursuant to their
  terms.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the publication or,
  where relevant, mailing of any notice of redemption of the Debt Securities
  pursuant to the foregoing, the Company will deliver to the Trustees an opinion
  of independent tax counsel of nationally recognized standing, to the effect that
  there has been such change or amendment which would entitle the Company to
  redeem the Debt Securities hereunder. In addition, before the Company publishes
  or mails notice of redemption of the Debt Securities as described above, it will
  deliver to the Trustees a certificate, signed by an authorized officer, stating
  that the Company cannot avoid its obligation to pay Additional Amounts by the
  Company taking reasonable measures available to it and all other conditions for
  such redemption have been met.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees shall be entitled to
  rely on such officers&#146; certificate and opinion of counsel as sufficient evidence
  of the existence and satisfaction of the conditions precedent as described
  above, in which event it will be conclusive and binding on the holders of Debt
  Securities.</P>
<P align=justify><B><I>Provision of Financial Information</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whether or not required by the
  rules of the SEC, so long Debt Securities are outstanding, the Company will
  furnish to the trustees and holders of Debt Securities or cause the trustees to
  furnish to the holders of Debt Securities (or file with the SEC for public
  availability):</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>within 120 days after the end of each fiscal year, copies of the Company&#146;s
      annual financial information and certifications that would be required to be
      contained in a filing with the SEC on Form 20-F or Form 40-F, as applicable,
      including &#147;Management&#146;s Discussion and Analysis of Financial Condition and
      Results of Operations&#148; and a report on the annual financial statements by the
      Company&#146;s auditors; </P>
  <LI>
    <P>within 60 days after the end of each of the first three fiscal quarters of
      each fiscal year, all interim quarterly financial information that would be
      required to be contained in quarterly reports under the laws of Canada or any
      Province thereof to security holders of a company with securities listed on
      the TSX, in each case including a &#147;Management&#146;s Discussion and Analysis of
      Financial Condition and Results of Operations&#148; and whether or not the
      Company has any of its securities listed on such exchange; and </P>
  </LI>
</UL>
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<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>within the time periods specified in the SEC&#146;s rules and regulations, all
      current reports that would be required to be furnished to the SEC on Form 6-K
      if the Company were required to furnish these reports. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will file a copy of
  each of all of the information and reports referred to above with the SEC for
  public availability within the time periods specified in the rules and
  regulations applicable to such reports (unless the SEC will not accept such a
  filing) and will post the reports on its website within those time periods.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding that the Company
  may not remain subject to the reporting requirements of Section 13 or 15(d) of
  the Exchange Act or otherwise report on an annual basis on forms provided for
  such annual reporting pursuant to rules and regulations promulgated by the SEC,
  the Company will continue to provide the above information and reports specified
  above to the trustees within the time periods specified above. Taskeo will not
  take any action for the purpose of causing the SEC not to accept any such
  filings. If, notwithstanding the foregoing, the SEC will not accept the
  Company&#146;s filings for any reason, the Company will post the reports referred to
  in the preceding paragraphs on its website within the time periods described
  above.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company has designated any
  &#147;significant subsidiary&#148; (as defined in Article 1, Rule 1-02 of Regulation S-X)
  as an Unrestricted Subsidiary (as defined in the applicable Prospectus
  Supplement), then the quarterly and annual financial information required by the
  preceding paragraphs will include a reasonably detailed presentation, either on
  the face of the financial statements or in the footnotes thereto, and in
  Management&#146;s Discussion and Analysis of Financial Condition and Results of
  Operations, of the financial condition and results of operations of the Company
  and its Restricted Subsidiaries (as defined in the applicable Prospectus
  Supplement) separate from the financial condition and results of operations of
  the Unrestricted Subsidiaries of the Company.</P>
<P align=justify><B><I>Events of Default</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in the
  applicable Prospectus Supplement relating to a particular series of Debt
  Securities, the following is a summary of events which will, with respect to any
  series of the Debt Securities, constitute an event of default under the
  Indenture with respect to the Debt Securities of that series:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the Company fails to pay principal of, or any premium on, or any Additional
      Amounts in respect of, any Debt Security of that series when it is due and
      payable; </P>
  <LI>
    <P>the Company fails to pay interest (including Additional Amounts) payable on
      any Debt Security of that series when it becomes due and payable, and such
      default continues for 30 days; </P>
  <LI>
    <P>the Company fails to make any required sinking fund or analogous payment
      when due for that series of Debt Securities; </P>
  <LI>
    <P>the Company fails to observe or perform any of its covenants or agreements
      in the Indenture that affect or are applicable to the Debt Securities of that
      series for 90 days after written notice to the Company by the trustees or to
      the Company and the trustees by holders of at least 25% in aggregate principal
      amount of the outstanding Debt Securities of that series; </P>
  <LI>
    <P>certain events involving the Company&#146;s bankruptcy, insolvency or
      reorganization; </P>
  <LI>
    <P>except as otherwise permitted under the Indenture, any guarantee is held in
      any judicial proceeding to be unenforceable or invalid or ceases for any
      reason to be in full force and effect, or any guarantor, or any person acting
      on behalf of any guarantor, denies or disaffirms its obligations under its
      guarantee; and </P>
  <LI>
    <P>any other event of default provided for in that series of Debt Securities. </P>
  </LI>
</UL>
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<P align=center>- 29 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A default under one series of
  Debt Securities will not necessarily be a default under another series. A
  trustee may withhold notice to the holders of the Debt Securities of any
  default, except in the payment of principal or premium, if any, or interest, if
  any, if in good faith it considers it in the interests of the holders to do so
  and so advises the Company in writing.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an event of default (except
  for events involving the Company&#146;s bankruptcy, insolvency or reorganization) for
  any series of Debt Securities occurs and continues, a trustee or the holders of
  at least 25% in aggregate principal amount of the Debt Securities of that series
  may require the Company to repay immediately:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the entire principal and interest of the Debt Securities of the series; or </P>
  <LI>
    <P>if the Debt Securities are discounted securities, that portion of the
      principal as is described in the applicable Prospectus Supplement. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an event of default relates to
  events involving the Company&#146;s bankruptcy, insolvency or reorganization, the
  principal of all Debt Securities will become immediately due and payable without
  any action by the trustee or any holder. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to certain conditions,
  the holders of a majority of the aggregate principal amount of the Debt
  Securities of the affected series, by written notice to the trustees may, on
  behalf of the holders of all of the Debt Securities of the affected series,
  rescind and annul an accelerated payment requirement or waive any existing
  default or event of default and its consequences under the Indenture, except a
  continuing default or event of default in the payment of principal of, premium
  on, if any, or interest, if any, on, the Debt Securities. If Debt Securities are
  discounted securities, the applicable Prospectus Supplement will contain
  provisions relating to the acceleration of maturity of a portion of the
  principal amount of the discounted securities upon the occurrence or continuance
  of an event of default.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than its duties in case of
  a default, a trustee is not obligated to exercise any of the rights or powers
  that it will have under the Indenture at the request or direction of any
  holders, unless the holders offer the trustee reasonable security or indemnity.
  If they provide this reasonable security or indemnity, the holders of a majority
  in aggregate principal amount of any series of Debt Securities may, subject to
  certain limitations, direct the time, method and place of conducting any
  proceeding for any remedy available to a trustee, or exercising any trust or
  power conferred upon a trustee, for any series of Debt Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will be required to
  furnish to the trustees a statement annually as to its compliance with all
  conditions and covenants under the Indenture and, if the Company is not in
  compliance, the Company must specify any defaults. The Company will also be
  required to notify the trustees as soon as practicable upon becoming aware of
  any event of default.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No holder of a Debt Security of
  any series will have any right to institute any proceeding with respect to the
  Indenture, or for the appointment of a receiver or a trustee, or for any other
  remedy, unless:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the holder has previously given to the trustees written notice of a
      continuing event of default with respect to the Debt Securities of the
      affected series; </P>
  <LI>
    <P>the holders of at least 25% in principal amount of the outstanding Debt
      Securities of the series affected by an event of default have made a written
      request, and the holders have offered reasonable indemnity, to the trustees to
      institute a proceeding as trustees; and </P>
  <LI>
    <P>the trustees have failed to institute a proceeding, and have not received
      from the holders of a majority in aggregate principal amount of the
      outstanding Debt Securities of the series affected (or in the case of
      bankruptcy, insolvency or reorganization, all series outstanding) by an event
      of default a direction inconsistent with the request, within 60 days after
      receipt of the holders&#146; notice, request and offer of indemnity. </P>
  </LI>
</UL>
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<P align=center>- 30 -</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, such above-mentioned
  limitations do not apply to a suit instituted by the holder of a Debt Security
  for the enforcement of payment of the principal of or any premium, if any, or
  interest on such Debt Security on or after the applicable due date specified in
  such Debt Security.</P>
<P align=justify><B><I>Defeasance</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When the Company uses the term
  &#147;defeasance&#148;, it means discharge from its obligations with respect to any Debt
  Securities of or within a series under the Indenture. Unless otherwise specified
  in the applicable Prospectus Supplement, if the Company deposits with a trustee
  cash, government securities or a combination thereof sufficient to pay the
  principal, interest, if any, premium, if any, and any other sums due to the
  stated maturity date or a redemption date of the Debt Securities of a series,
  then at the Company&#146;s option:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>the Company will be discharged from the obligations with respect to the
      Debt Securities of that series; or </P>
  <LI>
    <P>the Company will no longer be under any obligation to comply with certain
      restrictive covenants under the Indenture and certain events of default will
      no longer apply to the Company. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this happens, the holders of
  the Debt Securities of the affected series will not be entitled to the benefits
  of the Indenture except for registration of transfer and exchange of Debt
  Securities and the replacement of lost, stolen, destroyed or mutilated Debt
  Securities. These holders may look only to the deposited fund for payment on
  their Debt Securities.</P>
<P align=justify>To exercise the defeasance option, the Company must deliver to
  the trustees:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>an opinion of counsel in the United States to the effect that the holders
      of the outstanding Debt Securities of the affected series will not recognize
      income, gain or loss for U.S. federal income tax purposes as a result of a
      defeasance and will be subject to U.S. federal income tax on the same amounts,
      in the same manner and at the same times as would have been the case if the
      defeasance had not occurred; </P>
  <LI>
    <P>an opinion of counsel in Canada or a ruling from the Canada Revenue Agency
      to the effect that the holders of the outstanding Debt Securities of the
      affected series will not recognize income, gain or loss for Canadian federal,
      provincial or territorial income or other tax purposes as a result of a
      defeasance and will be subject to Canadian federal, provincial or territorial
      income tax and other tax on the same amounts, in the same manner and at the
      same times as would have been the case had the defeasance not occurred; and </P>
  <LI>
    <P>a certificate of one of the Company&#146;s officers and an opinion of counsel,
      each stating that all conditions precedent provided for relating to defeasance
      have been complied with. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company is to be
  discharged from its obligations with respect to the Debt Securities, and not
  just from the Company&#146;s covenants, the U.S. opinion must be based upon a ruling
  from or published by the United States Internal Revenue Service or a change in
  law to that effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the delivery of
  the opinions described above, the following conditions must be met before the
  Company may exercise its defeasance option:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>no event of default or event that, with the passing of time or the giving
      of notice, or both, shall constitute an event of default shall have occurred
      and be continuing for the Debt Securities of the affected series; </P>
  <LI>
    <P>the Company is not an &#147;insolvent person&#148; within the meaning of applicable
      bankruptcy and insolvency legislation; and </P>
  <LI>
    <P>other customary conditions precedent are satisfied. </P>
  </LI>
</UL>
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<P align=center>- 31 -</P>
<P align=justify><B><I>Modification and Waiver</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Modifications and amendments of
  the Indenture may be made by the Company and the trustees pursuant to one or
  more Supplemental Indentures (a &#147;Supplemental Indenture&#148;) with the consent of
  the holders of at least a majority in aggregate principal amount of the
  outstanding Debt Securities of each series affected by the modification
  (including, without limitation, consents obtained in connection with a purchase
  of, or tender offer or exchange offer for the Debt Securities). However, without
  the consent of each holder affected, no such modification may:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>change the stated maturity of the principal of, premium, if any, or any
      instalment of interest, if any, on any Debt Security; </P>
  <LI>
    <P>reduce the principal, premium, if any, or rate of interest, if any, or
      change any obligation of the Company to pay any Additional Amounts; </P>
  <LI>
    <P>reduce the amount of principal of a debt security payable upon acceleration
      of its maturity or the amount provable in bankruptcy; </P>
  <LI>
    <P>change the place or currency of any payment; </P>
  <LI>
    <P>affect the holder&#146;s right to require the Company to repurchase the Debt
      Securities at the holder&#146;s option; </P>
  <LI>
    <P>impair the right of the holders to institute a suit to enforce their rights
      to payment; </P>
  <LI>
    <P>adversely affect any conversion or exchange right related to a series of
      Debt Securities; </P>
  <LI>
    <P>reduce the percentage of Debt Securities required to modify the Indenture
      or to waive compliance with certain provisions of the Indenture; </P>
  <LI>
    <P>reduce the percentage in principal amount of outstanding Debt Securities
      necessary to take certain actions; </P>
  <LI>
    <P>waive a redemption payment with respect to any Debt Security (other than a
      payment hat may be required pursuant to certain covenants contained in an
      amendment or supplement of the provisions of the Indenture); </P>
  <LI>
    <P>release any guarantor from any of its obligations under its guarantee or
      the Indenture, except in accordance with the Indenture. </P>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of at least a
  majority in principal amount of outstanding Debt Securities of any series may on
  behalf of the holders of all Debt Securities of that series waive, insofar as
  only that series is concerned, past defaults under the Indenture and compliance
  by the Company with certain restrictive provisions of the Indenture. However,
  these holders may not waive a default in any payment of principal, premium, if
  any, or interest on any Debt Security or compliance with a provision that cannot
  be modified without the consent of each holder affected.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may modify the
  Indenture pursuant to a Supplemental Indenture without the consent of any
  holders to:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>evidence its successor, or a successor of a subsidiary guarantor, under the
      Indenture; </P>
  <LI>
    <P>make any change that would provide additional rights or benefits to holders
      of the Debt Securities or that does not adversely affect the legal rights of a
      holder; </P>
  <LI>
    <P>add events of default; </P>
  </LI>
</UL>
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<P align=center>- 32 -</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <P>provide for unregistered securities to become registered securities under
      the Indenture and make other such changes to unregistered securities that in
      each case do not materially and adversely affect the interests of holders of
      outstanding Debt Securities; </P>
  <LI>
    <P>establish the forms of the Debt Securities; </P>
  <LI>
    <P>appoint a successor trustee under the Indenture; </P>
  <LI>
    <P>add provisions to permit or facilitate the defeasance and discharge of the
      Debt Securities as long as there is no material adverse effect on the holders; </P>
  <LI>
    <P>cure any ambiguity, correct or supplement any defective or inconsistent
      provision or make any other provisions in each case that would not materially
      and adversely affect the interests of holders of outstanding Debt Securities,
      if any; </P>
  <LI>
    <P>comply with any applicable laws of the United States and Canada in order to
      effect and maintain the qualification of the Indenture under such laws to the
      extent they do not conflict with the applicable laws of the United States; </P>
  <LI>
    <P>change or eliminate any provisions of the Indenture where such change takes
      effect when there are no Debt Securities outstanding which are entitled to the
      benefit of those provisions under the Indenture; </P>
  <LI>
    <P>to provide for the assumption by the Company or a subsidiary guarantor&#146;s
      obligations in the case of a merger, amalgamation or consolidation or sale of
      all or substantially all of the assets of the Company or subsidiary guarantor; </P>
  <LI>
    <P>to comply with the requirements of the SEC; </P>
  <LI>
    <P>to conform the text of the Indenture, the Debt Securities or a guarantee to
      the Indenture; </P>
  <LI>
    <P>to provide for the issuance of additional Debt Securities in accordance
      with the Indenture; and </P>
  <LI>
    <P>to allow a subsidiary guarantor to execute a Supplemental Indenture. </P>
  </LI>
</UL>
<P align=justify><B><I>Governing Law</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture and the Debt
  Securities will be governed by and construed in accordance with the laws of the
  State of New York, except that discharge by the Canadian trustee of any of its
  rights, powers, duties or responsibilities hereunder shall be construed in
  accordance with the laws of the Province of British Columbia and the federal
  laws of Canada applicable thereto.</P>
<P align=justify><B><I>The Trustees</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any trustee under the Indenture
  or its affiliates may provide other services to the Company in the ordinary
  course of their business. If the trustee or any affiliate acquires any
  conflicting interest and a default occurs with respect to the Debt Securities,
  the trustee must eliminate the conflict within 90 days, apply to the SEC for
  permission to continue as trustee or resign.</P>
<P align=justify><B><I>Resignation and Removal of Trustee</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A trustee may resign or be
  removed with respect to one or more series of the Debt Securities and a
  successor trustee may be appointed to act with respect to such series.</P>
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<P align=center>- 33 -</P>
<P align=justify><B><I>Consent to Service</I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Indenture,
  the Company will irrevocably designate and appoint Corporation Service Company,
  Suite 400, 2711 Centerville Road, Wilmington, Delaware, USA 19808, as its
  authorized agent upon which process may be served in any suit or proceeding
  arising out of or relating to the Indenture or the Debt Securities that may be
  instituted in any U.S. federal or New York State court located in The Borough of
  Manhattan, in the City of New York, or brought by the trustees (whether in their
  individual capacity or in their capacity as trustees under the Indenture), and
  will irrevocably submit to the non-exclusive jurisdiction of such courts.</P>
<P align=center><B>CANADIAN FEDERAL INCOME TAX CONSIDERATIONS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable prospectus
  supplement will describe certain Canadian federal income tax consequences to an
  investor acquiring any Securities offered thereunder.</P>
<P align=center><B>MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable prospectus
  supplement will describe certain United States federal income tax consequences
  to an investor acquiring any Securities offered thereunder.</P>
<P align=center><B>LEGAL MATTERS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters relating to
  the Securities offered by this Prospectus will be passed upon for us by McMillan
  LLP, Vancouver, B.C., with respect to matters of Canadian law, and Paul, Weiss,
  Rifkind, Wharton &amp; Garrison LLP, New York City, New York, with respect to
  matters of United States law. The partners and associates of McMillan LLP and
  Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP beneficially own, directly or
  indirectly, less than 1% of any class of securities issued by the Company. As at
  the date hereof, the partners and associates of McMillan LLP, as a group, and
  the partners and associates of Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP,
  as a group, each beneficially own, directly or indirectly, less than one percent
  of the outstanding Common Shares of the Company.</P>
<P align=center><B>AUDITORS, TRANSFER AGENT AND REGISTRAR</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The auditors of the Company are
  KPMG LLP, Chartered Accountants, Vancouver, British Columbia. The transfer agent
  and registrar for the Common Shares of the Company is Computershare Investor
  Services Inc. at its principal office in Vancouver, British Columbia and
  Toronto, Ontario.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial
  statements and the notes thereto as at December 31, 2010 and 2009 and for the
  years ended December 31, 2010 and 2009 and for the fifteen month period ended
  December 31, 2008 incorporated in this Prospectus by reference have been audited
  by KPMG LLP, independent registered chartered accountants, as stated in their
  report, which is incorporated herein by reference.</P>
<P align=center><B>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents have been
  filed or will be filed with the SEC as part of the registration statement of
  which this Prospectus forms a part: the documents listed under &#147;Documents
  Incorporated by Reference&#148;; consents of accountants, engineers and counsel; form
  of trust indenture; and powers of attorney.</P>
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<P align=center>34</P>
<P align=center><b>EXPERTS</b></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of the Company as at December 31, 2010 and 2009 and for the years ended December 31, 2010 and 2009 and for the fifteen month period ended December 31, 2008, and management&rsquo;s assessment of the effectiveness of internal control over financial reporting as of December 31, 2010 have been incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. As discussed in Note 3(a) to the consolidated financial statements, the Company has adopted CICA Handbook Section 3055, Interests in Joint Ventures.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information appearing in this
  Prospectus concerning estimates of our proven and probable mineral reserves
  and mineral resources was prepared by Scott Jones, P. Eng., and has been included
  herein upon the authority of Mr. Jones as an expert.</P>
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<P align=center> <b>AUDITORS&#8217; CONSENT</b></P>
<p>The Board of Directors of Taseko Mines Limited</p>
<p align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have read the amended and
  restated short form base shelf prospectus (the &#8220;Prospectus&#8221;) of
  Taseko Mines Limited (the &#8220;Company&#8221;) dated April 4, 2011 relating
  to the offering for sale of up to $350,000,000 of common shares, warrants, subscription
  receipts, debt securities, or any combination of such securities, of the Company.
  We have complied with Canadian generally accepted standards for an auditor's
  involvement with offering documents.</p>
<p align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the incorporation
  by reference in the above-mentioned Prospectus of our report to the shareholders
  of the Company on the consolidated balance sheets of the Company as at December
  31, 2010 and 2009 and the consolidated statements of operations and comprehensive
  income (loss), shareholders&#8217; equity and cash flows for the years ended
  December 31, 2010 and 2009 and for the fifteen month period ended December 31,
  2008. Our report is dated March 16, 2011.</p>
<p align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We also consent to the incorporation
  by reference in the above-mentioned Prospectus of our report to the directors
  of the Company on the consolidated balance sheets of the Company as at December
  31, 2010 and 2009 and the consolidated statements of operations and comprehensive
  income (loss), shareholders&#8217; equity and cash flows for the years ended
  December 31, 2010 and 2009 and the fifteen month period ended December 31, 2008
  which include note 23, &#8220;Differences between Canadian and United States
  Generally Accepted Accounting Principles&#8221;. Our report is dated March 28,
  2011.</p>
<p>(signed) KPMG LLP</p>
<p> Chartered Accountants</p>
<p> Vancouver, Canada<br>
  April 4, 2011 </p>
<p align="center">A-1</p>
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<P align=center><B>PART II</B><BR>
</P>
<P align=center><B>INFORMATION NOT REQUIRED TO BE DELIVERED TO<BR>OFFEREES OR
PURCHASERS</B></P>
<P align=justify><B>Indemnification of Directors and Officers.</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko Mines Limited and
Gibraltar Mines Ltd. are subject to the provisions of the <I>Business
Corporations Act </I>(British Columbia) (the &#147;<B>Act</B>&#148;).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 160 of the Act, an
individual who:<BR></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>is or was a director or officer of the Registrant, </P>
  <LI>
  <P>is or was a director or officer of another corporation (i) at a time when
  the corporation is or was an affiliate of the Registrant, or (ii) at the
  request of the Registrant, or </P>
  <LI>
  <P>at the request of the Registrant, is or was, or holds or held a position
  equivalent to that of, a director or officer of a partnership, trust, joint
  venture or other unincorporated entity, </P></LI></UL>
<P align=justify>and includes, the heirs and personal or other legal
representatives of that individual (collectively, an &#147;<B>eligible party</B>&#148;),
may be indemnified by the Registrant against a judgment, penalty or fine awarded
or imposed in, or an amount paid in settlement of, a proceeding (an &#147;<B>eligible
penalty</B>&#148;) in which, by reason of the eligible party being or having been a
director or officer of, or holding or having held a position equivalent to that
of a director or officer of, the Registrant or an associated corporation, (a)
the eligible party is or may be joined as a party, or (b) the eligible party is
or may be liable for or in respect of a judgment, penalty or fine in, or
expenses related to, the proceeding (&#147;<B>eligible proceeding</B>&#148;) to which the
eligible party is or may be liable. Section 160 of the Act also permits the
Registrant to pay the expenses actually and reasonably incurred by an eligible
party after the final disposition of the eligible proceeding. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 161 of the Act, the
Registrant must, after the final disposition of an eligible proceeding, pay the
expenses actually and reasonably incurred by the eligible party in respect of
that proceeding if the eligible party (a) has not been reimbursed for those
expenses, and (b) is wholly successful, on the merits or otherwise, in the
outcome of the proceeding or is substantially successful on the merits in the
outcome of the proceeding. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 162 of the Act, the
Registrant may pay, as they are incurred in advance of the final disposition of
an eligible proceeding, the expenses actually and reasonably incurred by an
eligible party in respect of that proceeding; provided the Registrant must not
make such payments unless it first receives from the eligible party a written
undertaking that, if it is ultimately determined that the payment of expenses is
prohibited by Section 163, the eligible party will repay the amounts advanced.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 163 of the Act, the
Registrant must not indemnify an eligible party against eligible penalties to
which the eligible party is or may be liable or pay the expenses of an eligible
party in respect of that proceeding under Sections 160, 161 or 162 of the Act,
as the case may be, if any of the following circumstances apply: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>if the indemnity or payment is made under an earlier agreement to indemnify
  or pay expenses and, at the time that the agreement to indemnify or pay
  expenses was made, the Registrant was prohibited from giving the indemnity or
  paying the expenses by its memorandum or articles; </P>
  <LI>
  <P>if the indemnity or payment is made otherwise than under an earlier
  agreement to indemnify or pay expenses and, at the time that the indemnity or
  payment is made, the Registrant is prohibited from giving the indemnity or
  paying the expenses by its memorandum or articles; </P></LI></UL>
<P align=center>I- 1<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>if, in relation to the subject matter of the eligible proceeding, the
  eligible party did not act honestly and in good faith with a view to the best
  interests of the Registrant or the associated corporation, as the case may be;
  or </P>
  <LI>
  <P>in the case of an eligible proceeding other than a civil proceeding, if the
  eligible party did not have reasonable grounds for believing that the eligible
  party&#146;s conduct in respect of which the proceeding was brought was lawful.
  </P></LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an eligible proceeding is
brought against an eligible party by or on behalf of the Registrant or by or on
behalf of an associated corporation, the Registrant must not either indemnify
the eligible party against eligible penalties to which the eligible party is or
may be liable in respect of the proceeding, or, after the final disposition of
an eligible proceeding, pay the expenses of the eligible party under Sections
160, 161 or 162 of the Act in respect of the proceeding. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 164 of the Act, the
Supreme Court of British Columbia may, on application of the Registrant or an
eligible party, order the Registrant to indemnify the eligible party or to pay
the eligible party&#146;s expenses, despite Sections 160 to 163 of the Act. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The articles of a company may
affect its power or obligation to give an indemnity or pay expenses. As
indicated above, this is subject to the overriding power of the Supreme Court of
British Columbia under Section 164 of the Act.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the articles of Taseko
Mines Limited and Gibraltar Mines Ltd., subject to the provisions of the Act,
each Registrant must indemnify a director or former director of the Registrant
and the heirs and legal personal representatives of all such persons against all
eligible penalties to which such person is or may be liable, and the Registrant
must, after the final disposition of an eligible proceeding, pay the expenses
actually and reasonably incurred by such person in respect of that proceeding.
Each director and officer is deemed to have contracted with the Registrant on
the terms of the indemnity contained in the Registrant&#146;s articles. The failure
of a director or officer of the Registrant to comply with the Act or the
articles of the Registrant does not invalidate any indemnity to which such
person is entitled under the Registrant&#146;s articles. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the articles of Taseko
Mines Limited and Gibraltar Mines Ltd., each Registrant may purchase and
maintain insurance for the benefit of any eligible party against any liability
incurred by such party as a director, officer or person who holds or held an
equivalent position. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriters, dealers or agents
who participate in a distribution of securities registered hereunder may be
entitled under agreements to be entered into with each Registrant to
indemnification by each Registrant against certain liabilities, including
liabilities under the United States Securities Act of 1933, as amended, and
applicable Canadian securities legislation, or to contribution with respect to
payments which such underwriters, dealers or agents may be required to make in
respect thereof. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aley Corporation is organized
pursuant to t</P>
<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%">1. </td>
    <td><p align=justify><b>Indemnification</b>. A corporation may indemnify a
      director or officer of the corporation, a former director or officer of
      the corporation or another individual who acts or acted at the
      corporation's request as a director or officer, or an individual acting in
      a similar capacity, of another entity, against all costs, charges and
      expenses, including an amount paid to settle an action or satisfy a
      judgment, reasonably incurred by the individual in respect of any civil,
      criminal, administrative, investigative or other proceeding in which the
      individual is involved because of that association with the corporation or
      other entity.</p></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign=top width="5%">2. </td>
    <td><p align=justify><b>Advance of costs</b>. A corporation may advance moneys
      to a director, officer or other individual for the costs, charges and
      expenses of a proceeding referred to in subsection (1). The individual
      shall repay the moneys if the individual does not fulfill the conditions
      of subsection (3).</p></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign=top width="5%">3. </td>
    <td><p align=justify><b>Limitation</b>. A corporation may not indemnify an
      individual under subsection (1) unless the
      individual:</p></td>
  </tr>
</table>
<P align=justify>he provisions of the <I>Canada Business Corporations Act</I>, as
  amended (the &#147;CBCA&#148;). Section 124 of the CBCA provides as follows: </P>
<P align=center>I-2<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<p></p>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>acted honestly and in good faith with a view to the best
      interests of the corporation, or, as the case may be, to the best
      interests of the other entity for which the individual acted as director
      or officer or in a similar capacity at the corporation's request;
    and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>in the case of a criminal or administrative action or
      proceeding that is enforced by a monetary penalty, the individual had
      reasonable grounds for believing that the individual's conduct was
      lawful.</P></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%">4. </TD>
    <TD colSpan=2>
      <P align=justify><B>Indemnification in derivative actions</B>. A
      corporation may with the approval of a court, indemnify an individual
      referred to in subsection (1), or advance moneys under subsection (2), in
      respect of an action by or on behalf of the corporation or other entity to
      procure a judgment in its favor, to which the individual is made a party
      because of the individual's association with the corporation or other
      entity as described in subsection (1) against all costs, charges and
      expenses reasonably incurred by the individual in connection with such
      action, if the individual fulfils the conditions set out in subsection
      (3).</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD colSpan=2>
      <P align=justify><B>Right to Indemnity</B>. Despite subsection (1), an
      individual referred to in that subsection is entitled to indemnity from
      the corporation in respect of all costs, charges and expenses reasonably
      incurred by the individual in connection with the defense of any civil,
      criminal, administrative, investigative or other proceeding to which the
      individual is subject because of the individual's association with the
      corporation or other entity as described in subsection (1), if the
      individual seeking indemnity:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>was not judged by the court or other competent authority
      to have committed any fault or omitted to do anything that the individual
      ought to have done; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>fulfils the conditions set out in subsection
  (3).</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD colSpan=2>
      <P align=justify><B>Insurance</B>. A corporation may purchase and maintain
      insurance for the benefit of an individual referred to in subsection (1)
      against any liability incurred by the individual:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>in the individual's capacity as a director or officer of
      the corporation; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>in the individual's capacity as a director or officer, or
      similar capacity, of another entity, if the individual acts or acted in
      that capacity at the corporation's request.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">7. </TD>
    <TD colSpan=2>
      <P align=justify><B>Application to court</B>. A corporation, an individual
      or an entity referred to in subsection (1) may apply to a court for an
      order approving an indemnity under this section and the court may so order
      and make any further order that it sees fit.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">8. </TD>
    <TD colSpan=2>
      <P align=justify><B>Notice to Director</B>. An applicant under subsection
      (7) shall give the Director appointed under the CBCA notice of the
      application and the Director appointed under the CBCA is entitled to
      appear and be heard in person or by counsel.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">9. </TD>
    <TD colSpan=2>
      <P align=justify><B>Other notice</B>. On an application under subsection
      (7) the court may order notice to be given to any interested person and
      the person is entitled to appear and be heard in person or by
    counsel.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aley Corporation maintains
insurance for the benefit of its directors and officers against liability in
their respective capacities as directors and officers except where the liability
relates to the person's failure to act honestly and in good faith and with a
view to the best interests of the Registrant. The directors and officers are not
required to pay any premium in respect of the insurance. The policy contains
standard industry exclusions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Insofar as indemnification for
liabilities arising under the Securities Act of 1933, as amended (the &#147;1933
Act&#148;), may be permitted to directors, officers or persons controlling each
Registrant pursuant to the foregoing provisions, each Registrant has been
informed that in the opinion of the U.S. Securities and Exchange Commission such
indemnification is against public policy as expressed in the 1933 Act and is
therefore unenforceable.</B></P>
<P align=center>I-3<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<P align=center><B>EXHIBITS</B><BR></P>
<P align=justify>See the Exhibit Index hereto.</P>
<P align=center>I-4<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center><B>PART III</B></P>
<P align=center><B>UNDERTAKING AND CONSENT TO SERVICE OF PROCESS</B></P>
<P align=justify><B>Item 1. Undertaking</B>.<BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Registrant undertakes to
make available, in person or by telephone, representatives to respond to
inquiries made by the Commission staff, and to furnish promptly, when requested
to do so by the Commission staff, information relating to the securities
registered pursuant to this Form F-10 or to transactions in said securities.</P>
<P align=justify><B>Item 2. Consent to Service of Process.</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrants have previously
filed with the Commission a written Appointment of Agent for Service of Process
and Undertaking on Form F-X.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any change to the name or address
of the Registrants&#146; agent for service of process shall be communicated promptly
to the Commission by amendment to Form F-X referencing the file number of this
Registration Statement.</P>
<P align=center>II- 1<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_10></A>
<P align=center><B>SIGNATURES</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, the Registrants certify that they have reasonable
grounds to believe that they meet all of the requirements for filing on Form
F-10 and have duly caused this Registration Statement to be signed on their
behalf by the undersigned, thereunto duly authorized, in the City of Vancouver,
Canada, on this 4th day of April, 2011.</P>
<TABLE width="100%" border=0 cellPadding=0
cellSpacing=0
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; ">

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3><B>TASEKO MINES LIMITED</B>  </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3>By: </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left
    colSpan=2>/s/ Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD width="5%" align=left noWrap>&nbsp;</TD>
    <TD width="5%" align=left noWrap>Name: </TD>
  <TD width="45%" align=left noWrap>Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>Title: </TD>
    <TD noWrap align=left>President and Chief Executive Officer  </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3><B>GIBRALTAR MINES LTD.</B>  </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3>By: </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left
    colSpan=2>/s/ Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>Name: </TD>
  <TD noWrap align=left>Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>Title: </TD>
    <TD noWrap align=left>President and Chief Executive Officer  </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3><B>ALEY CORPORATION</B> </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD noWrap>&nbsp;</TD>
    <TD noWrap>&nbsp; </TD>
  <TD noWrap>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left colSpan=3>By: </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left
    colSpan=2>/s/ Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>Name: </TD>
  <TD noWrap align=left>Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>Title: </TD>
    <TD noWrap align=left>Chief Executive Officer</TD>
  </TR></TABLE>
<P align=center>II-2</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A>
<P align=center><B>SIGNATURES WITH RESPECT TO</B><BR><B>TASEKO MINES
LIMITED</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, this Registration Statement has been signed by the
following persons in the capacities indicated and on this 4th day of April,
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><B>Signature</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD width="47%" style="padding-left:50px;"><B>Title</B> </TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Russell E.
      Hallbauer </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>President and Chief Executive Officer
      and</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Russell E. Hallbauer</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Director </B>(Principal Executive Officer)
    </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Peter C.
      Mitchell </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Chief Financial Officer </B>(Principal
      Financial </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Peter C. Mitchell</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%">Officer and Principal Accounting Officer)
</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>*</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Ronald W. Thiessen</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Director and Chairman</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;* </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>T. Barry Coughlan</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Director</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;* </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Scott D. Cousens</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Director</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;* </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Robert A. Dickinson</B> </TD>
    <TD align=left width="6%">&nbsp;</TD>
    <TD align=left width="47%"><B>Director</B>
</TD></TR></TABLE><BR><BR><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=left>* By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="42%">/s/
      Peter C. Mitchell </TD>
    <TD align=left width="53%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="42%">Name: Peter C. Mitchell </TD>
    <TD align=left width="53%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="42%">Title: Attorney-in-Fact </TD>
    <TD align=left width="53%">&nbsp;</TD></TR></TABLE>
<P align=center>II-3<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_12></A>
<P align=center><B>SIGNATURES WITH RESPECT TO</B><BR><B>GIBRALTAR MINES
LTD.</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, this Registration Statement has been signed by the
following persons in the capacities indicated and on this 4th day of April,
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><B>Signature</B> </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD width="47%" style="padding-left:50px;"><B>Title</B> </TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Russell E.
      Hallbauer </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%"><B>President and Chief Executive Officer
      and</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Russell E. Hallbauer</B> </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%"><B>Director </B>(Principal Executive Officer)
    </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Peter C.
      Mitchell </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%"><B>Chief Financial Officer </B>(Principal
      Financial </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Peter C. Mitchell</B> </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%">Officer and Principal Accounting Officer)
</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid">&nbsp; &nbsp;
    &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>*</B></TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Ronald W. Thiessen</B> </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%"><B>Director and Chairman</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%" >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid">&nbsp; &nbsp;
    &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>*</B></TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Robert A. Dickinson</B> </TD>
    <TD align=left width="6%" >&nbsp;</TD>
    <TD align=left width="47%"><B>Director</B>
</TD></TR></TABLE><BR><BR><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=left>* By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="42%">/s/
      Peter C. Mitchell </TD>
    <TD align=left width="53%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="42%">Name: Peter C. Mitchell </TD>
    <TD align=left width="53%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="42%">Title: Attorney-in-Fact </TD>
    <TD align=left width="53%" >&nbsp;</TD></TR></TABLE>
<P align=center>II-4<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_13></A>
<P align=center><B>SIGNATURES WITH RESPECT TO</B><BR><B>ALEY
CORPORATION</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, this Registration Statement has been signed by the
following persons in the capacities indicated and on this 4th day of April,
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=left><div align="center"><B>Signature</B> </div></TD>
    <TD align=left width="6%"  >&nbsp;</TD>
    <TD width="47%" style="padding-left:50px;">
<B>Title</B></TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%"  >&nbsp;</TD>
    <TD width="47%" >&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%"  >&nbsp;</TD>
    <TD width="47%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Russell E.
      Hallbauer </TD>
    <TD align=left width="6%"  >&nbsp;</TD>
    <TD align=left width="47%" ><B>President and Chief Executive
      Officer and</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Russell E. Hallbauer</B> </TD>
    <TD align=left width="6%"  >&nbsp;</TD>
    <TD align=left width="47%" ><B>Director </B>(Principal
      Executive Officer) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%"  >&nbsp;</TD>
    <TD width="47%" >&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="6%"  >&nbsp;</TD>
    <TD width="47%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>* </TD>
    <TD align=left width="6%"  >&nbsp;</TD>
    <TD align=left width="47%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Trevor Thomas</B> </TD>
    <TD align=left width="6%"  >&nbsp;</TD>
    <TD align=left width="47%" ><B>Director</B>
</TD></TR></TABLE><BR><BR><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=left >* By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="41%">/s/
      Russell E. Hallbauer </TD>
    <TD align=left width="53%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="41%">Name: Russell E. Hallbauer </TD>
    <TD align=left width="53%"  >&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center ></TD>
    <TD align=left width="41%" >Title:
    Attorney-in-Fact&nbsp;&nbsp;</TD>
    <TD align=left width="53%"
>&nbsp;</TD></TR></TABLE>
<P align=center>II-5<BR>
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_14></A>
<P align=center><B>AUTHORIZED REPRESENTATIVE</B><BR></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
Section 6(a) of the Securities Act of 1933, as amended, the undersigned has
signed this Registration Statement, solely in its capacity as the duly
authorized representative of the Registrants in the United States, on this 4th
day of April, 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=left>&nbsp;</TD>
    <TD align=left width="50%" colSpan=2><B>Puglisi &amp; Associates</B>
</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="45%">/s/
      Gregory F. Lavelle </TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">&nbsp;</TD>
    <TD align=left width="45%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Name: </TD>
    <TD align=left width="45%">Gregory F. Lavelle </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Title: </TD>
    <TD align=left width="45%">Managing Director </TD></TR></TABLE>
<P align=center>II-6</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_15></A>
<P align=center><B>EXHIBIT INDEX</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=center ><B>Exhibit</B> </TD>
    <TD align=center width="90%"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      ><B>No.</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >4.1 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Annual Information Form dated
      March 28, 2011 for the fiscal year ended December 31, 2010 (incorporated
      by reference to the Company&#146;s Annual Report on Form 40-F for the fiscal
      year ended December 31, 2010 filed on March 30, 2011) </TD></TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >4.2 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Consolidated financial
      statements and the notes thereto for the fiscal periods ended December 31,
      2010 and 2009, together with the auditors&#146; report thereon and management&#146;s
      discussion and analysis for the year ended December 31, 2010 (incorporated
      by reference to the Company&#146;s Annual Report on Form 40-F for the fiscal
      year ended December 31, 2010 filed on March 30, 2011) </TD></TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >4.3 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Management information circular
      dated May 13, 2010 relating to the annual general meeting of shareholders
      held June 16, 2010 (incorporated by reference to the Company&#146;s Form 6-K
      furnished to the Commission on May 20, 2010) </TD></TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit5-1.htm">5.1 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit5-1.htm">Consent of KPMG
      LLP<SUP>(1)</SUP> </a></TD>
  </TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit5-2.htm">5.2 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit5-2.htm">Consent of McMillan
      LLP<SUP>(1)</SUP></a><SUP></SUP> </TD>
  </TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit5-3.htm">5.3</a> </TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit5-3.htm">Consent of Scott Jones, P.
      Eng.<SUP>(1)</SUP></a><SUP></SUP> </TD>
  </TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >6.1 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Powers of
      Attorney.<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >7.1 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Form of Trust
      Indenture<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee >7.2 </TD>
    <TD align=left width="90%" bgColor=#eeeeee>Statement of Eligibility under
    the Trust Indenture Act of 1939 on Form T-1 of the trustee<SUP>(2)</SUP>    </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%">(1) </TD>
    <TD>
      <P align=justify>Filed as an exhibit to this registration statement on
      Form F-10.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Previously filed.</P></TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5-1.htm
<DESCRIPTION>CONSENT OF KPMG LLP
<TEXT>
<!DOCTYPE HTML PUBLIC "2011 Taseko US consent F-10 April 4.pdf">


<HTML>
<HEAD>
   <TITLE>Taseko Mines Ltd.: Exhibit 5.1 - 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">
<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 vAlign=top>
    <TD rowspan="5" align=left ><img src="kpmg.gif"></TD>
    <TD align=left width="40%"><B>KPMG LLP </B></TD>
    <TD align=left width="10%">Telephone </TD>
    <TD align=left width="10%">(604) 691-3000 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="40%"><B>Chartered Accountants </B></TD>
    <TD align=left width="10%">Fax </TD>
    <TD align=left width="10%">(604) 691-3031 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="40%">PO Box 10426 777 Dunsmuir Street </TD>
    <TD align=left width="10%">Internet </TD>
    <TD align=left width="10%">www.kpmg.ca </TD></TR>
  <TR vAlign=top>
    <TD align=left width="40%">Vancouver BC V7Y 1K3 </TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="10%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left width="40%">Canada </TD>
    <TD align=left width="10%">&nbsp; </TD>
    <TD align=left width="10%">&nbsp; </TD></TR></TABLE>
<P align=center><B>C</B><B>ONSENT OF </B><B>I</B><B>NDEPENDENT
</B><B>R</B><B>EGISTERED </B><B>P</B><B>UBLIC </B><B>A</B><B>CCOUNTING
</B><B>F</B><B>IRM</B><B> </B></P>
<P align=justify>The Board of Directors <BR>Taseko Mines Limited </P>
<P align=justify>We consent to the use of our reports dated March 28. 2011, with
respect to the consolidated balance sheets of Taseko Mines Limited as of
December 31, 2010 and 2009, and the related consolidated statements of
operations and comprehensive income (loss), stockholders&#146; equity, and cash flows
for the years ended December 31, 2010 and 2009 and the fifteen-month period
ended December 31, 2008, and the effectiveness of internal control over
financial reporting as of December 31, 2010, incorporated herein by reference
and to the reference to our firm under the heading &#147;Experts&#148; in the prospectus.</P>
<P><img src="kpmg-sig.gif"></P>
<P align=justify>Chartered Accountants </P>
<P align=justify>Vancouver, Canada <BR>April 4, 2011 </P>
<P style="MARGIN-LEFT: 40%" align=justify><FONT size=1>KPMG LLP, a Canadian
limited liability partnership is the Canadian </FONT><BR><FONT size=1>member
firm of KPMG International, a Swiss cooperative. </FONT></P>
<HR align=center width="100%" color=black noShade SIZE=5>

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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>exhibit5-2.htm
<DESCRIPTION>CONSENT OF MCMILLAN LLP
<TEXT>
<HTML>
<HEAD>
   <TITLE>Taseko Mines Ltd.: Exhibit 5.2 - 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>
<P><IMG src="mcmillan.gif" border=0>&nbsp;<BR>combining Lang Michener LLP and
McMillan LLP</P>
<P>&nbsp;</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=right><B>Our File No.</B> </TD>
    <TD align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="40%" >41315-0224 </TD></TR>
  <TR vAlign=top>
    <TD align=right><B>Date</B> </TD>
    <TD align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="40%" >April 5, 2011
  </TD>
  </TR></TABLE>
<P align=justify>To the Board of Directors<BR>Taseko Mines Limited<BR>905 West
Pender Street, Suite 300<BR>Vancouver, British Columbia V6C 1L6<BR><BR>Dear
Sirs/Mesdames:<BR><BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left ><B>Re:</B> </TD>
    <TD align=left width="85%"><B>Taseko Mines Limited</B> </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="85%"><B>Registration Statement on Form F-10/A</B>
  </TD></TR></TABLE>
<P align=justify>We hereby consent to the use of our name in the Registration
Statement on Form F-10/A filed by Taseko Mines Limited on April 5, 2011, as such
may thereafter be amended or supplemented, and in the base shelf prospectus
included therein, under the headings &#147;Enforceability Of Civil Liabilities By
U.S. Investors&#148; and &#147;Legal Matters&#148;.</P>
<P align=justify>In giving this consent, we do not thereby admit that we come
within the category of persons whose consent is required by section 7 of the
Securities Act of 1933, as amended.</P>
<P style="MARGIN-LEFT: 50%" align=justify>Yours truly,<BR><BR><I>/s/ McMillan
LLP</I><BR></P>
<P align=justify><FONT color=#ef4138></FONT>&nbsp;</P>
<P align=justify><FONT color=#ef4138></FONT>&nbsp;</P>
<P align=justify><FONT color=#ef4138></FONT>&nbsp;</P>
<P align=left><FONT color=#ef4138 size="1">McMillan LLP |</FONT>
<FONT color=#ef4138 size="1">Royal Centre, 1055 W. Georgia St., Suite 1500, PO Box
11117, Vancouver, BC, Canada V6E 4N7 |</FONT> <FONT
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<SEQUENCE>4
<FILENAME>exhibit5-3.htm
<DESCRIPTION>CONSENT OF SCOTT JONES, P. ENG
<TEXT>
<HTML>
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<P align=center><B>CONSENT OF SCOTT JONES</B><BR></P>
<P align=justify>The undersigned hereby consents to the use of its name, and the reference to it under &ldquo;Experts&rdquo;,  and
reference to the written disclosure of the technical report titled &#147;Technical
Report on the 105 Million Ton Increase in Mineral Reserves at the Gibraltar
Mine&#148; dated January 23, 2009, and the report entitled &#147;Technical Report, on the
344 million tonne increase in mineral reserves at the Prosperity Gold &#150; Copper
Project&#148; dated December 17, 2009 (collectively the &#147;Technical Reports&#148;) and any
extracts from or a summary of the Technical Reports in the final base shelf
prospectus of Taseko Mines Limited dated April 4, 2011 (including the documents
incorporated by reference therein) (the &#147;Prospectus&#148;) and the Registration
Statement of Taseko Mines Limited on Form F-10/A, dated April 4, 2011 (the
&#147;Registration Statement&#148;).</P>
<P align=justify>The undersigned hereby confirms that the undersigned has read
the Prospectus and the Registration Statement and believes that the Prospectus
and Registration Statement fairly and accurately represents the information in
the Technical Reports that supports the disclosure and the undersigned has no
reason to believe that there are any misrepresentations in the information
contained in the Prospectus and Registration Statement that are derived from the
Technical Reports or within the knowledge of the undersigned, as a result of the
services performed by the undersigned in connection with the Technical
Reports.</P>
<P align=justify>Date: April 4, 2011<BR></P>
<P align=justify>By:<BR><BR></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-BOTTOM: #000000 1px solid" align=left>/s/ Scott Jones
</TD>
    <TD align=left width="70%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Scott Jones, P. Eng </TD>
    <TD align=left width="70%"
>&nbsp;</TD></TR></TABLE><BR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
