Taseko Mines | New Prosperity

Overview
Timeline

Taseko’s New Prosperity property is located in south-central British Columbia and hosts one of the most significant copper and gold deposits in Canada. It is also located in an area of cultural significance to the Tŝilhqot’in Nation, known as Teẑtan Biny and Nabaŝ.

Taseko has conducted progressive engineering, metallurgical, environmental, and feasibility studies on New Prosperity, resulting in a wealth of data and baseline studies available.
2019

New Prosperity

In late 2019, the Tŝilhqot’in National Government and Taseko entered into a confidential dialogue, with the involvement of the Province of British Columbia, in order to obtain a long-term resolution of the conflict regarding Taseko’s proposed copper-gold mine previously known as New Prosperity, acknowledging Taseko’s commercial interests and the Tŝilhqot’in Nation’s opposition to the project.

This dialogue has been supported by the parties’ agreement, beginning December 2019, to a series of one-year standstills on certain outstanding litigation and regulatory matters relating to Taseko’s tenures and the area in the vicinity of Teẑtan Biny.

2022

New Prosperity 2022

The standstill agreement was extended for a fourth one-year term in December 2022, with the goal of providing time and opportunity for the Tŝilhqot’in Nation and Taseko to negotiate a final resolution.

2023

New Prosperity 2023

The dialogue process made tangible progress but is not complete. In agreeing to extend the standstill through 2023, the Tŝilhqot’in Nation and Taseko acknowledge the constructive nature of discussions to date, and the future opportunity to conclude a long-term and mutually acceptable resolution of the conflict that also makes an important contribution to the goals of Reconciliation in Canada.

Category	US Short Tons (millions)	Copper Grade (%)	Molybdenum Grade (%)
Sulphide Mineral Reserves as of December 31, 2023 at a 0.15% copper cut-off
Proven	459	0.26	0.008
Probable	175	0.22	0.008
Ore Stockpiles	11	0.18	0.005
Total Proven and Probable Sulphide Reserves	645	0.25	0.008
Oxide Mineral Reserves as of December 31, 2023 at a 0.10% acid soluable copper cut-off
Proven	1	0.14	--
Probable	10	0.14	--
Ore Stockpiles	7	0.16	--
Total Proven and Probable Oxide Reserves	18	0.15	--
Mineral Resources as of December 31, 2023 at a 0.15% copper cut-off
Measured	790	0.25	0.008
Indicated	353	0.23	0.007
Total Measured and Indicated Resources	1,143	0.25	0.007
Inferred	75	0.22	0.004

The resource and reserve estimation was completed under the supervision of Richard Weymark, P. Eng., MBA, Vice President, Engineering for Taseko and a Qualified Person as defined by NI 43-101.
Gibraltar Mineral Reserves and Mineral Resources as of December 31, 2021 have been depeted to reflect mining in 2022 and 2023 as documented in the Company’s Annual Information Form for the Year Ended December 31, 2023 which is available on SEDAR+ at www.sedarplus.ca.
Gibraltar Mineral Reserves and Mineral Resources follow CIM Definition Standards for Mineral Resources and Mineral Reserves (2014).
Sulphide Mineral Reserves are exclusive of Oxide Mineral Reserves. Both Sulphide Mineral Reserves and Oxide Mineral Reserves are contained within Mineral Resources.
Oxide Mineral Reserve grades are reported in-terms of acid soluable copper.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Mineral Reserves are assumed to be extracted using open pit mining methods and are based on US$3.05/lb Cu price, $12.00/lb Mo price, exchange rate of US$0.80=C$1.00, metallurgical recoveries of 85% TCu and 40% Mo for sulphide ore and 50% ASCu for oxide ore.
The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: Cu price of US$3.50/lb, Mo price of US$14.00/lb, exchange rate of US$0.80=C$1.00, metallurgical recoveries of 85% for TCu and 40% for Mo.
A tonnage factor of 12ft3/ton has been applied for rock and 15ft3/ton for overburden and fill.
Additional information regarding data verification, exploration information, known legal, political, environmental or other risks can be found in the report entitled “Technical Report on the Mineral Reserve Update at the Gibraltar Mine, British Columbia, Canada” issued March 30, 2022 with an effective date of Match 15, 2022 which is available on SEDAR+ at www.sedarplus.ca. The Gibraltar Technical Report was prepared under the supervision of Richard Weymark, P. Eng., MBA. Vice President, Engineering of Taseko and a Qualified Person as defined by NI 43-101.
Numbers may not add due to rounding.

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New Prosperity

Taseko’s New Prosperity property is located in south-central British Columbia and hosts one of the most significant copper and gold deposits in Canada. It is also located in an area of cultural significance to the Tŝilhqot’in Nation, known as Teẑtan Biny and Nabaŝ.

Taseko Talks