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VANCOUVER, Oct. 28, 2013 – The Federal Review Panel conducting the environmental assessment of Taseko’s (TSX: TKO) (NYSE MKT: TGB) New Prosperity Gold-Copper project is expected to submit its report to the Federal Minister of the Environment and release it to the public by Friday, November 1, 2013.
In anticipation of this report, Taseko wishes to inform the many stakeholders who have been involved in the environmental assessment over the past 24 months of the remaining steps in the process.
The Panel is not a decision making authority. The Panel Report is information for the Minister and it will be considered along with other information upon which the Federal Government will base its decision.
Federal Environmental Assessments are a design level planning tool focused on identifying potential adverse environmental effects that are within federal jurisdiction. The guidelines used to determine whether an adverse effect is likely, as prescribed in law under the Canadian Environmental Assessment Act of 2012, are as follows:
Step 1 – is the environmental effect adverse?
Step 2 – is the adverse environmental effect significant based on the application of the following five criteria?;
|(iii)||duration and frequency;|
|(iv)||degree to which the effect is reversible or not; and|
Step 3 – is a significant adverse effect “likely”?
Based on the project that Taseko has proposed and a fair and consistent application of the criteria under CEAA 2012, Taseko expects the Panel report to conclude there are no significant adverse environmental effects resulting from this project. Only the Minister of the Environment can determine whether the project is likely to cause adverse environmental effects, taking into account mitigation measures that are identified during the environmental assessment. If the Minister makes that determination, the Federal Cabinet will then decide whether these effects are justified in the circumstances, similar to the decision the Province made in its Environmental Review of Prosperity 2 ½ years ago. A decision statement from the Federal Government is expected to be issued within 120 days from the date of the report’s submission to the Minister.
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 included but are not limited to:
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.gov and home jurisdiction filings that are available atwww.sedar.com.
For further information on Taseko, please see the Company’s website tasekomines.com or contact:
Media – Brian Battison 778-373-4533 or toll free 1-877-441-4533
Investors – Brian Bergot 778-373-4533 or toll free 1-877-441-4533