Published: April 23, 2025 |

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Taseko Mines has released a progress update at its 100 percent owned Florence Copper Project in Florence, Arizona.

Construction continues to advance on schedule and first copper production is still targeted before the end of 2025. Overall project completion was at 78 percent as of March 31, 2025. During the first quarter there were approximately 440 contract personnel on site and 230,000 project hours were worked. Total project hours to-date are roughly 670,000 and there have been no reportable injuries or environmental incidents.

“After 15 months, construction progress continues to track to our original schedule. Wellfield drilling activity is now ramping down and will be completed on schedule in May, and we are steadily advancing towards first copper production later this year. Construction expenditures have been in line with expectations and our previous capital cost guidance remains unchanged,” said Stuart McDonald, president and CEO of Taseko.

“The project is in great shape and Florence Copper will soon become a major new supplier of copper cathode for the U.S. market. The project is uniquely positioned to produce and sell refined copper inside the United States and potentially benefit from premium COMEX copper pricing in the coming years,” added McDonald.

SUMMARY OF KEY ACTIVITES IN THE FIRST QUARTER

• 29 production wells were drilled and constructed in the quarter, for a total of 80 out of the 90 wells planned to be
  drilled during the construction phase
• Point of compliance well drilling was completed in the quarter
• Work on the building structure for the electrowinning facility was completed except for the final roof and wall
  sections that will be installed after the electrowinning overhead crane is installed in April.
• Installation of the cathode stripping machine started in March
• The solvent extraction area continues to advance with a focus on pipe and settler welding and electrical
  installation
• Hydrotesting of all the field erected tanks was completed
• Sandblasting and painting of the carbon steel tanks was completed
• Factory acceptance testing of the tank farm E-house was completed and it was delivered to site
• Assembly of the modular office and dry buildings was completed, and work on the exterior finishing started
• The substation area progressed and the installation of major equipment is well advanced
• Work on surface infrastructure advanced and installation of high density polyethylene piping in the main pipeline
  corridor continued and the storm water box culvert under the pipe corridor was completed

Another significant recent milestone for Florence Copper is the authorization to reuse a portion of surplus process water from operations. Approximately 25 percent of the Florence Copper property is used for agriculture, and with the new permit, this excess process water will replace irrigation water that is currently drawn from other sources. This will result in more water available for other users in the project area.

Headquartered in Vancouver, British Columbia, Canada, Taseko Mines is a dynamic North American mining company driven to unlock the true value of copper for its investors, employees, communities, and for a complex and changing world. Taseko’s corporate strategy has been to grow the company sustainably and profitably by focusing on the continued operations of its foundational asset, the Gibraltar Mine in central BC, and the advancement of North America’s next copper producer, Florence Copper in Arizona — while also advancing its pipeline of high-quality, advanced-stage development projects, including the Yellowhead copper project and the Aley niobium project.

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