COPPER: Taseko improves economics at Florence project

ARIZONA – Taseko Mines of Vancouver has completed technical work at its Florence copper project 100 km southeast of Phoenix and significantly improved the project economics. [caption id="attachment_1003716743" align="alignleft" width="300"] Injection wells at the Florence copper site in Arizona.[/caption] Florence is an advanced in situ copper project. Most of the phase 1 operating permits are in place; only two more are required to begin testing. Major power, transportation, road and rail infrastructure are in place. Taseko acquired Florence when it acquired the former owner in 2014. These are the highlights of the most recent project analysis:

• Pre-tax net present value of US$920 million at a 7.5% discount rate;
• Pre-tax internal rate of return of 44% with a 2.3 year payback;
• Operating costs of US$1.10 per lb LME grade cathode copper;
• Total life of mine production in excess of 1.7 billion lb of copper;
• Average annual production of 81 million lb of copper for the 21-year mine life; and
• Total pre-production capital cost of US$200 million.

Taseko puts probable reserves at 345 million tonnes averaging 0.36% Cu. For further information, please visit www.TasekoMines.com.