...and Recommends Shareholders Vote the YELLOW Proxy AGAINST The Dissident

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• TASEKO MINES LTD Financials
  EDGAR Online Financials 21 days ago
• Taseko Mines Limited -- Moody's Downgrades Taseko's ratings to Caa1; outlook is negative
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• RRC's Golden Leashes linked to the performance of Taseko's bonds and shares raise "concerns which may lead to conflicts of interest among dissident directors once elected and call into question their ability to satisfy their fiduciary duties.…Such arrangement may incentivize the dissident nominees, once elected, to pursue strategic alternatives which may be in better interest of bondholders or promote a focus on short term results at the expense of long-term shareholders."
• "The dissident may be incentivized to liquidate Taseko assets perhaps not at an optimal timing to temporarily boost the company's cash position in order to facilitate the company to repurchase bonds or to hasten repayment of the bonds at par, which may not be necessarily in the best interest of long-term shareholders."
• "The average of the company's fees paid related to HDI services over its total operating expenses from 2011-2015 accounts only for 1.18%, which does not appear to be a major source that would drive up the company's costs as a whole."
• "Upon review of the one acquisition transaction of Curis which was deemed a HDI-related party transaction questioned by the dissident, there do not appear to be major significantly noted governance concerns in terms of the transaction process in light of the following:
  • The three HDI directors abstained from the decision-making and a special committee of independent directors was appointed to oversee the acquisition.
  • There was an independent fairness opinion with respect to the transaction.
  • The consideration paid by Taseko to Curis was slightly below the midpoint of the valuation range in the formal valuation provided by Deloitte LLP, which was engaged by Curis' special committee."

Accordingly, ISS recommends that shareholders use Taseko's YELLOW proxy card to vote:

• AGAINST RRC's proposal to remove Taseko's directors, Russ Hallbauer, Ron Thiessen and Robert Dickinson as directors
• AGAINST RRC's resolution to fix the Board at nine and elect four RRC Nominees
• AGAINST RRC's alternative proposal to fix the board side at 12 directors
• WITHHOLD on the four RRC Nominees

*Permission to quote from the ISS report was neither sought nor obtained

Vote the Yellow Proxy Today

Taseko believes shareholders should follow the ISS and Glass Lewis recommendations and vote the YELLOW proxy immediately. While Taseko believes it has the support of most shareholders, every vote will count and if the Dissident Nominees are elected, the value of your investment will be at risk. Even if a shareholder previously voted a blue proxy, a later-dated YELLOW proxy will cancel the earlier vote.

Taseko encourages shareholders to read the proxy contest related materials to understand the main reasons to support directors Russ Hallbauer, Ron Thiessen and Robert Dickinson. Shareholder materials are available at www.tasekomines.com/proxycontest and on SEDAR, www.sedar.com.

The proxy voting deadline is 10 am (Pacific Time) on May 6, 2016. Shareholders with questions about voting their shares should call Laurel Hill Advisory Group at 1-877-452-7184 (toll free) or by email at [email protected]. The Meeting will be held at The Pinnacle Hotel, 138 Victory Ship Way, North Vancouver, British Columbia, on May 10, 2016, at 10:00 a.m. local time.

Shareholders may also contact Taseko's proxy solicitation agent:
Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America: 416-304-0211
Email: [email protected]

Russell Hallbauer
President and CEO

About Taseko

Taseko is focused on the operation and development of mines in North America. Headquartered in Vancouver, Canada, Taseko is the owner (75%) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's Aley Niobium Project, Florence Copper Project, and New Prosperity Gold-Copper Project are all advanced staged projects which provide the Company with a diverse commodity pipeline.