COPPER-GOLD PROJECT: Taseko amends, resubmits Prosperity proposal

BRITISH COLUMBIA - Taseko Mines of Vancouver has amended and resubmitted to the federal government the project description for the Prosperity gold-copper development near Williams Lake. The Canadian government refused to permit the work in November 2010, citing the potential destruction of Tiztan Biny, commonly known as Fish Lake, considered sacred by the Tsilquot'in people.

The new project description addresses those concerns. Fish Lake will be preserved (at an additional cost of $300 million) and other environmental impacts limited.

Prosperity is the world's seventh largest undeveloped gold-copper porphyry, and the economic benefits are huge. Taseko estimates that over the 20-year life of the project, New Prosperity will pay more than $3 billion in federal and provincial taxes. Consumer spending will increase by $303 million per year in British Columbia. Local communities are largely in favour of the project.

Taseko has launched an in-depth online information portal (www.NewProsperityProject.ca). The site encourages public dialogue and represents a progressive approach to community engagement.