Gibraltar - Reserves & Resources

The Company has filed an updated mineral reserve estimate and NI 43-101 Technical Report entitled “Technical Report on the Mineral Reserve Update at the Gibraltar Mine” dated November 6. Gibraltar’s updated proven and probable reserves as of December 31, 2018 are as follows:

Summary of Mineral Reserves – December 31, 2018
Taseko Mines – Gibraltar Mine

Ore Type

Category

Tonnage
(Mst)

Cu Grade
(%)

Mo Grade
(%)

Sulphide: 0.15% Cu Cut-off Grade

Proven

469

0.26

0.008


Probable

121

0.23

0.008


Ore Stockpiles

3

0.19

0.008


Total

594

0.25

0.008

Oxide: 0.10% ASCu Cut-off Grade


Proven

1

0.16



Probable

16

0.15



Total

17

0.15


Notes:
1. CIM (2014) definitions were followed for Mineral Reserves.
2. Mineral Reserves are presented on a 100% basis.
3. Mineral Reserves are estimated using a copper price of US$2.75/lb, a molybdenum price of US$8.00/lb, and an exchange rate of US$1.00: C$1.25.
4. Mineral Reserves for sulphide ore are estimated at a cut-off grade of 0.15% Cu with a maximum 50% ASCu content constraint. Mineral Reserves for oxide ore are estimated at a cut-off grade of 0.10% ASCu.
5. Mineral Reserves are estimated as mined and delivered to the processing facilities.
6. Numbers may not add due to rounding.

The mineral reserves stated above are contained within the measured and indicated mineral resources below:

Summary of Mineral Resources – December 31, 2018
Taseko Mines – Gibraltar Mine

Category

Tonnage
(Mst)

Cu Grade
(%)

Mo Grade
(%)

Measured

806

0.25

0.008

Indicated

303

0.23

0.007

Total Measured + Indicated

1,109

0.25

0.007

Inferred

59

0.21

0.004

Notes:
1. CIM (2014) definitions were followed for Mineral Resources.
2. Mineral Resources are presented on a 100% basis.
3. Sulphide Mineral Resources are estimated at a cut-off grade of 0.15% Cu.
4. Oxide Mineral Resources are estimated at a cut-off grade of 0.10% ASCu.
5. Mineral Resources are estimated using a long-term copper price of US$3.25/lb, a molybdenum price of US$12.00/lb, and an exchange rate of US$1.00: C$1.25.
6. Tonnage factors are 12 ft3/st for in situ material and 15 ft3/st for fill.
7. Mineral Resources are inclusive of Mineral Reserves.
8. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
9. Numbers may not add due to rounding.

The resource and reserve estimation was completed by Taseko staff under the supervision of Richard Weymark, P.Eng., MBA, Chief Engineer and a Qualified Person under National Instrument 43-101. Mr. Weymark has reviewed this release.

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