Building Value Through Operating and Developing Major Mining - PowerPoint PPT Presentation

Annual General Meeting Building Value Through Operating and Developing Major Mining Projects June 11, 2014 1

Forward Looking Statement Some of the statements contained in the following material are "forward ‐ looking statements". All statements in this release, other than statements of historical facts, that address estimated mineral resource and reserve quantities, grades and contained metal, and possible future mining, exploration and development activities, are forward ‐ looking statements. Although the Company believes the expectations expressed in such forward ‐ looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward ‐ looking statements. Factors that could cause actual results to differ materially from those in forward ‐ looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 40 ‐ F filing with the United States Securities Commission at www.sec.gov. and its Canadian securities filings that are available at www.sedar.com. 2

2013 – Strong Headwinds Declining Commodity Markets Copper $4.00 Down 7% $3.00 $2.00 $1.00 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 3

2013 – Strong Headwinds Declining Commodity Markets Molybdenum $12.00 Down 18% $10.00 $8.00 $6.00 $4.00 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 4

2013 – Strong Headwinds Declining Commodity Markets Iron Ore $160.00 Down 8% $140.00 $120.00 $100.00 $80.00 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 5

2013 – Strong Headwinds Declining Commodity Markets Nickel $10.00 Down 23% $8.00 $6.00 $4.00 $2.00 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 6

2013 – Strong Headwinds Declining Equity Markets S&P/TSX Global Mining 100 Down 20% 80 60 40 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 7

2013 – Strong Headwinds Declining Equity Markets S&P/TSX Div. Metals & Mining 1,100 1,000 Down 22% 900 800 700 600 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 8

2013 – Strong Headwinds Declining Equity Markets S&P/TSX Global Gold 350 300 Down 48% 250 200 150 100 Jan ‐ 13 Apr ‐ 13 Jul ‐ 13 Oct ‐ 13 9

LTM – Making up Ground Positive Trend 120 S&P/TSX Global Mining – Up 7% Taseko ‐ Up 8% Peers – Up 7% 100 Copper – Down 8% S&P/TSX Global Gold – Down 10% 80 May ‐ 13 Aug ‐ 13 Nov ‐ 13 Feb ‐ 14 May ‐ 14 Taseko Copper S&P/TSX Global Mining S&P/TSX Global Gold Peers 10

Superfecta • Increasing Production • 34% in 2013 (90 ‐ 121 Mlbs) • Modern, world class mine Production • Low geopolitical risk • Strong, stable copper price • Supported by declining inventories Cash Copper Operating Price Costs Flow • Decreased operating costs • 20% in 2013 (~$13.00 ‐ $10.50) C$ • Steady ‐ state operations to • Weakening C$ • Significant benefit to a provide further reductions Canadian producer 11

Increasing Production 180 150 Copper Production (millions of lbs) 250% Increase in Copper Production 120 90 60 30 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 * Note: Production amounts are on a 100% basis. *2014 is based on annualized first quarter production and not an estimate. 12

Copper Fundamentals 13

Copper Fundamentals 14

Taseko’s Growth Strategy Create shareholder value by optimizing Gibraltar cash flow and through prudent investments Maximize Gibraltar Grow revenue organically through the recently completed GDP3 Project Cash Flow Enhance margins through operating improvements and cost efficiencies Invest in Development Free cash flow generated by Gibraltar to support projects: Projects to Create Aley Niobium Project – metallurgical testing and Feasibility Study in Value 2014 New Prosperity Project – legal challenges to protect the project’s value Gibraltar expansion potential Other opportunities? Maintain strong Maintain strong cash position balance sheet and Continue to pay down debt (equipment leases) conservative financial Continue to purchase copper put options for downside protection management 15

Thank you. 16