Aley - Reserves & Resources

The study was done using long term metal prices of US$45.00/kg for niobium and an exchange rate of US$0.90/C$1.00.

CATEGORY
(0.30% NB2O5 CUT-OFF)

TONNES
(MILLIONS)

NB2O5
(%)

Proven

44.3

0.52

Probable

39.5

0.48

Total

83.8

0.50

The NI 43-101 compliant reserve estimate takes into consideration all geologic, mining, milling, and economic factors, and is stated according to Canadian standards (NI43-101). (Under US standards no reserve declaration is possible until a full feasibility study is completed and financing and permits are acquired.)

Mineral Resources

The Mineral Reserves above are included in the following Measured and Indicated Mineral Resources.

CATEGORY
(0.20% NB2O5 CUT-OFF)

TONNES
(MILLIONS)

NB2O5
(%)

Measured

112.6

0.41

Indicated

173.2

0.35

Total

285.8

0.37

Supporting Work

The Mineral Reserves are based on engineering directed by Taseko incorporating the measured and indicated resources established in 2012, metallurgical and converter test work completed by SGS Canada Inc. and XPS Testwork & Consulting Services respectively, pit design and mine planning by Moose Mountain Technical Services, converter design by Ausenco, and tailings and water management layouts by Knight PiƩsold Ltd.


The Mineral Reserves are a subset of the Mineral Resources reported in the March 29, 2012 Technical Report, “Technical Report, Aley Carbonatite Niobium Project”, prepared by Ronald G. Simpson, P.Geo and a Qualified Person under National Instrument 43-101.

The mine plan, mine related costing, and tailings and water management design was supervised and reviewed by Greg Yelland, P.Eng., Chief Engineer for Taseko and a Qualified Person under National Instrument 43-101.

Metallurgical and converter test work was supervised and reviewed by Keith Merriam, P.Eng., Manager, Process Engineering for Taseko and a Qualified Person under National Instrument 43-101.

Process and plant design work was done in accordance with design criteria derived from metallurgical and pyrometallurgical test work under the supervision of Rob Rotzinger, P.Eng. Vice-President Capital Projects for Taseko and a Qualified Person under National Instrument 43-101.

The reserve estimation was reviewed by Scott Jones, P.Eng., Vice-President Engineering for Taseko and a Qualified Person under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation.

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