New Prosperity Gold Copper Project enters environmental assessment process
VANCOUVER, Nov. 8, 2011 /CNW/ - Taseko Mines Limited
('Taseko' or the 'Company') has been advised that a 'Notice of Commencement' has been posted by the Canadian Environmental Assessment Agency ('CEAA') related to its New Prosperity Gold-Copper Project. The Notice of Commencement confirms that the project description has met all criteria required for an environmental assessment and that a panel review will be conducted by the Federal review agency. The Minister of the Environment indicated that CEAA will complete this review in not more than 12 months and that CEAA would use information gathered in the previous environmental assessment to manage this timeline.Russell Hallbauer, Taseko's President & CEO, stated, 'Today's announcement by CEAA recognizes the importance of this project and provides a path for Taseko to continue to advance New Prosperity. While we need to develop a better understanding of the specifics of the panel review, the timeline evidences a significant commitment by CEAA to work effectively with us in this process. It is our sincere desire that New Prosperity moves through the panel review process in this timeframe and that the benefits of the project begin to be realized by the Country, the Province, the local communities and Aboriginals in the coming years.'
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 include 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 our ability to complete the mill
upgrade on time estimated and at the scheduled cost;
-- uncertainties related to the ability to obtain necessary
licenses permits for development projects and project delays
due to third party opposition;
-- 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; and
-- 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.
Taseko Mines Limited
CONTACT: on Taseko, please see the Company's website at
www.tasekomines.com or
contact: Investor Relations - 778-373-4533, toll free1-877-441-4533.
