Taseko Appoints New Director

January 28, 2010

Vancouver, BC — Ronald Thiessen, Chairman of the Board of Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) (“Taseko” or the “Company”) is pleased to announce the appointment of Richard Mundie to Taseko’s Board of Directors.

Mr. Mundie, a Chartered Accountant in the Province of British Columbia, held a number of senior executive positions during a 25 year career with Cominco and Teck Cominco (now Teck Resources). In his roles with Teck, he was instrumental in developing strong business relationships with an international customer base composed of diverse economies such as India, Asia, Europe and the Americas.

As Director of Business Development for Cominco, he was responsible for mergers, acquisitions and divestitures, and as Vice President, Commercial for Teck Cominco, he was tasked with marketing mineral products throughout Europe, the United States and Asia. Mr. Mundie was also the lead negotiator on the extension of the Northeast coal contracts for the Bullmoose and Quintette Mines and as well he was responsible for marketing the metallurgical coal production for the Elkview Mine, while production grew from 2.5 million to 6 million tonnes per annum prior to the formation of the Fording Income Trust of which Elkview became a key asset.

From 2005 to 2007, Mr. Mundie was Teck’s Vice President, Asia Affairs and Chief Representative (China) where he was active in the global mining community and participated in several joint ventures to build stronger relationships with the Chinese government.

For further information on Taseko, please visit the Company’s website at www.tasekomines.com or contact:

Brian Bergot, Investor Relations - 778-373-4545, toll free 1-800-667-2114

Ronald W. Thiessen
Chairman

No regulatory authority has approved or disapproved of the information contained in this news release.

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 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 our ability to complete the mill upgrade on time estimated and at the scheduled cost;
  • 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 or ongoing 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.

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