Gibraltar - Reserves & Resources

Gibraltar Reserves and Resources at December 31, 2016

CATEGORY
(AT 0.15% CU CUT-OFF)

SIZE
(MILLION TONS)

GRADE

RECOVERABLE METAL
CU (BILLIONS LBS)

CONTAINED METAL
CU (BILLIONS LBS)

CU (%)

MO (%)

Proven

546

0.26

0.008

2.5

2.8

Probable

142

0.23

0.008

0.6

0.6

Total P&P Reserves

688

0.26

0.008

3.1

3.6

Measured

773

0.26

0.008

-

4.0

Indicated

258

0.24

0.007

-

1.2

Total M&I Resources

1,031

0.25

0.008

-

5.2

The resource and reserve estimation was completed by Gibraltar mine staff under the supervision of Scott Jones, P.Eng., Vice President, Engineering of 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. The estimates used long term metal prices of US$2.75/lb for copper and US$11.00/lb for molybdenum and 0.85 C$/US$ foreign exchange.. Reserves and Resources were updated and are stated as of Dec 31/16. . Mineral reserves are contained within the measured and indicated mineral resources.

.