TIDMTKO 
 
Taseko Mines Extends Copper Price Protection Strategy 
 
VANCOUVER, BC, March 29, 2021 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE 
American: TGB) (LSE: TKO) ("Taseko" or the "Company") announces that it has 
recently extended its copper price protection strategy by purchasing put 
options covering 41 million pounds of copper at a strike price of US$3.75 per 
pound for the second half of this year. The price protection now in place for 
the next nine months should secure a minimum operating margin of approximately 
C$165 million* for 2021. 
 
Stuart McDonald, President of Taseko, commented, "With the uncertainty in the 
world today around the impacts of Covid-19, and ongoing volatility in metal 
markets caused by a number of global economic and political issues, we felt 
that it was prudent to extend our price protection strategy.  Protecting a 
significant operating margin in 2021 allows the Company to focus on and advance 
near-term capital growth plans related to our Florence Copper Project, and also 
fund ongoing Environmental Assessment work at our Yellowhead Project.  This 
approach to managing copper price volatility does not cap our cash flow should 
copper prices continue to rise, as many of the world's largest banks and 
trading entities are indicating could occur." 
 
"Taseko's experienced senior management team, many of whom have been involved 
with and observed the base metals business for over 40 years, has been 
consistent in managing the financial performance of the Company. The team's 
decisions have held the Company in good stead over the past decade and 
protected shareholder value at all points of the copper price cycle, and we 
will continue to protect against downside risks while positioning the Company 
for success in a strong copper market in the years ahead," concluded Mr. 
McDonald. 
 
Russell Hallbauer 
Chief Executive Officer and Director 
 
No regulatory authority has approved or disapproved of the information 
contained in this news release. 
 
*Estimate based on actual Q1 copper prices to-date, current foreign exchange 
rates and forecasted production, operating costs for the remainder of 2021. 
 
CAUTION REGARDING FORWARD-LOOKING INFORMATION 
 
This document contains "forward-looking statements" that were based on Taseko's 
expectations, estimates and projections as of the dates as of which those 
statements were made. Generally, these forward-looking statements can be 
identified by the use of forward-looking terminology such as "outlook", 
"anticipate", "project", "target", "believe", "estimate", "expect", "intend", 
"should" and similar expressions. 
 
Forward-looking statements are subject to known and unknown risks, 
uncertainties and other factors that may cause the Company's actual results, 
level of activity, performance or achievements to be materially different from 
those expressed or implied by such forward-looking statements. These included 
but are not limited to: 
 
  * uncertainties about the effect of COVID-19 and the response of local, 
    provincial, federal and international governments to the threat of COVID-19 
    on our operations (including our suppliers, customers, supply chain, 
    employees and contractors) and economic conditions generally and in 
    particular with respect to the demand for copper and other metals we 
    produce; 
  * uncertainties and costs related to the Company's exploration and 
    development activities, such as those associated with continuity of 
    mineralization or determining whether mineral resources or reserves exist 
    on a property; 
  * uncertainties related to the accuracy of our estimates of mineral reserves, 
    mineral resources, production rates and timing of production, future 
    production and future cash and total costs of production and milling; 
  * uncertainties related to feasibility studies that provide estimates of 
    expected or anticipated costs, expenditures and economic returns from a 
    mining project; 
  * uncertainties related to the ability to obtain necessary licenses permits 
    for development projects and project delays due to third party opposition; 
  * uncertainties related to unexpected judicial or regulatory proceedings; 
  * changes in, and the effects of, the laws, regulations and government 
    policies affecting our exploration and development activities and mining 
    operations, particularly laws, regulations and policies; 
  * changes in general economic conditions, the financial markets and in the 
    demand and market price for copper, gold and other minerals and 
    commodities, such as diesel fuel, steel, concrete, electricity and other 
    forms of energy, mining equipment, and fluctuations in exchange rates, 
    particularly with respect to the value of the U.S. dollar and Canadian 
    dollar, and the continued availability of capital and financing; 
  * the effects of forward selling instruments to protect against fluctuations 
    in copper prices and exchange rate movements and the risks of counterparty 
    defaults, and mark to market risk; 
  * the risk of inadequate insurance or inability to obtain insurance to cover 
    mining risks; 
  * the risk of loss of key employees; the risk of changes in accounting 
    policies and methods we use to report our financial condition, including 
    uncertainties associated with critical accounting assumptions and 
    estimates; 
  * environmental issues and liabilities associated with mining including 
    processing and stock piling ore; and 
  * labour strikes, work stoppages, or other interruptions to, or difficulties 
    in, the employment of labour in markets in which we operate mines, or 
    environmental hazards, industrial accidents or other events or occurrences, 
    including third party interference that interrupt the production of 
    minerals in our mines. 
 
For further information on Taseko, investors should review the Company's annual 
Form 40-F filing with the United States Securities and Exchange Commission 
www.sec.gov and home jurisdiction filings that are available at www.sedar.com, 
including the "Risk Factors" included in our Annual Information Form. 
 
on Taseko, please visit the Taseko website at www.tasekomines.com or contact: 
Brian Bergot, Vice President, Investor Relations, 778-373-4533 or toll free 
1-877-441-4533 
 
 
 
END 
 
 

(END) Dow Jones Newswires

March 29, 2021 08:30 ET (12:30 GMT)

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