GOLD-COPPER DEVELOPMENT: Prosperity okay given by B.C. environment ministry

BRITISH COLUMBIA — Vancouver-based Taseko Mines received the environmental assessment certificate for the Prosperity gold-copper project from the Provincial Ministry of Environment on Jan. 14, 2010. The company will now proceed with securing and necessary leases, licences and permits to bring the project into production.

The Prosperity project, near Williams Lake, is one of the largest undeveloped gold-copper deposits in Canada. It hosts perhaps 4.2 billion lb of copper and 11.0 million oz of gold in proven and probable reserves. That estimate does not included addition pounds and ounces contained in measured and indicated resources.

Taseko estimates pre-production capital expenditures will be $807 million. Based on US$900/oz gold and US$2.00/lb copper, the project has a pre-tax net present value of C$1.6 billion and a 30% pre-tax internal rate of return.

Additional details may be read at www.TasekoMines.com.