VANCOUVER, June 13, 2019 /PRNewswire/ - Taseko Mines Limited
(TSX: TKO; NYSE American: TGB) ("Taseko" or the "Company")
announces that the Supreme Court of Canada ("SCC") has cleared the way for Taseko
to undertake geotechnical work at the Company's New Prosperity
Gold-Copper Project near Williams Lake,
BC.
The SCC, Canada's highest legal
authority, has spoken. It has dismissed the Tsilhqot'in First
Nation application to appeal an earlier judgement by the BC Supreme
Court and by the British Columbia
Court of Appeal and in doing so it has also confirmed the
resilience of British Columbia's
current mine permitting process.
"Getting permission to mine in British
Columbia may be difficult, but it's not impossible. It just
takes patience," said Russell
Hallbauer, President and CEO of Taseko. "The SCC decision is
clear, Provincial permits authorizing mineral exploration and
development can, if done with care and consideration, withstand any
possible legal challenge."
"For New Prosperity, this is an important point in
time. The law has been tested at the highest levels, the legal
challenges are over, the permit is sound, the work can and will
proceed. What this ruling does mean is that we are taking the
steps necessary to get closer to the day when such a decision can
be made to build New Prosperity," continued Mr. Hallbauer.
"The New Prosperity deposit is rare, the largest undeveloped
copper-gold deposit in Canada and
easily among the top 15 in the world. It can be a powerhouse for
economic change in BC's central interior. It can be a positive game
changer for First Nations as well. With BC lumber manufacturers
closing mills and curtailing operations, potential mines like New
Prosperity offer renewed hope and opportunity, especially for the
people of the central interior. People should never give up
on its potential, nor the value and opportunity it can deliver to
all the people of BC," concluded Mr. Hallbauer.
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" within the
meaning of applicable Canadian securities legislation and the
United States Private Securities Litigation Reform Act of 1995
(collectively, "forward looking statements") that were based on
Taseko's expectations, estimates and projections as of the dates as
of which those statements were made. Any statements that express,
or involve discussions as to, expectations, believes, plans,
objectives, assumptions or future events or performance that are
not historical facts, are forward-looking statements.
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 the ability to obtain necessary title,
licenses and permits for development projects and project delays
due to third party opposition;
- our ability to comply with the extensive governmental
regulation to which our business is subject;
- uncertainties related to unexpected 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;
- 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,
equipment failure or other events or occurrences, including third
party interference that interrupt the production of minerals in our
mines;
- the availability of, and uncertainties relating to the
development of, infrastructure necessary for the development of our
projects;
- our reliance upon key personnel; and
- uncertainties relating to increased competition and conditions
in the mining capital markets.
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, including the "Risk
Factors" included in our Annual Information Form.
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SOURCE Taseko Mines Limited