Public Online Information Resource Launched to Promote Open Discussion
VANCOUVER, June 6, 2011 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE
Amex: TGB) ("Taseko" or the "Company") has submitted a revised project
description to the Federal Government in pursuit of final approval of
its New Prosperity Gold-copper Project.
The New Prosperity project addresses the concerns identified during the
original federal review process while building on the core strengths
and benefits of the original Prosperity proposal. The new proposal
preserves Fish Lake and limits the impact to the environment. It aims
to relieve concerns of the First Nations and the federal Panel while at
the same time delivering significant economic value to British Columbia
and Canada.
"We have made significant efforts to address all the necessary
requirements for final federal approval. Preserving Fish Lake, which
adds $300 million in capital and operating expense to the project is an
example of that effort and a reflection of the depth of our commitment
to the success of New Prosperity and to the principles of
sustainability," says Taseko President & CEO Russell Hallbauer.
"Prosperity is the 7th largest undeveloped gold-copper porphyry deposit in the world and as
such has the ability to deliver economic value and social benefit on a
national scale. We are looking forward to delivering the potential of
this project for Canadians, including all levels of Government, First
Nations communities, the people of the Cariboo and our shareholders,"
concluded Mr. Hallbauer.
Taseko is launching an in-depth online information portal (http://newprosperityproject.ca). The site encourages public dialogue and represents a progressive
approach to community engagement.
Russell Hallbauer
President and CEO
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:
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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;
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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;
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uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a
mining project;
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uncertainties related to our ability to complete the mill upgrade on
time estimated and at the scheduled cost;
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uncertainties related to the ability to obtain necessary licenses
permits for development projects and project delays due to third party
opposition;
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uncertainties related to unexpected judicial or regulatory proceedings;
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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;
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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;
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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;
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the risk of inadequate insurance or inability to obtain insurance to
cover mining risks;
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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;
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environmental issues and liabilities associated with mining including
processing and stock piling ore; and
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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.com and home jurisdiction filings that are available at www.sedar.com.