Taseko Mines Ltd (TGB)

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TGB News yesterday!!

May 2, 2006 - 8:00 AM EDT

Taseko Update Progress of Feasibility Study Work on Prosperity Copper-Gold Project

Taseko Mines Limited (TSX:TKO)(AMEX: TGB) announces that it has retained engineering firm SNC Lavalin to update the feasibility study on its Prosperity copper-gold project, located 125 kilometres southwest of the city of Williams Lake in south-central British Columbia. Taseko's 100% owned Prosperity property hosts one of the largest undeveloped open pittable copper-gold deposits in North America.

Completion of a preliminary overview study of the project is expected by the middle of May. This overview study will guide detailed engineering work for updating the feasibility study.

The initial focus of the overview study will be redesign of the concentrator, in particular, utilizing a large diameter single SAG mill (Semi-Autogenous Grinding mill) as opposed to multiple smaller SAG mills. A single SAG mill design will significantly reduce the capital and operating costs relative to previous studies undertaken on the Prosperity project, as grinding circuits account for 40% of the cost of concentrator facilities.

Previously reported measured and indicated resources for Prosperity copper-gold deposit at 0.20% copper cut-off are as follows: