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TASEKO MINES REPORTS DRILLING CONTINUES TO DELINEATE IMMENSE GOLD-COPPER DEPOSIT

               TASEKO MINES REPORTS DRILLING CONTINUES
              TO DELINEATE IMMENSE GOLD-COPPER DEPOSIT
    VANCOUVER, British Columbia, July 17 /PRNewswire/ -- Robert A. Dickinson, president of Taseko Mines Ltd. (NASDAQ: TKO.CF, Vancouver: TKO) is pleased to announce that diamond drilling at the Fish Lake Project near Williams Lake, British Columbia continues to successfully define a giant gold-copper deposit.  To date, the company has completed 120,000 feet of large diameter core drilling in 53 holes; drilling is on-going.  The deposit remains open to extension in all directions and a fourth drill rig has been moved to site to assist with deposit delineation.
    Although a revised mineral reserve estimate cannot be undertaken until the limits of the deposit have been completely defined, it is clear that the Fish Lake deposit ranks among the largest deposits of its kind in the world.  Current dimensions of the Fish Lake deposit are 2,300 feet north-south, 4,300 feet east-west and extending up to 2,700 feet deep.  With the forecast continued rise in both gold and copper prices, timing of development for the Fish Lake deposit is ideal.
    Detailed results -- above a 0.4 percent copper equivalent cutoff grade -- for holes completed and assayed to date by the company are listed in Table I and located on the attached Diamond Drill Hole Plan.
    The company continues to accelerate its feasibility, engineering and permitting program for a large-scale, low cost, open-pit mine development.  Reserves at Fish Lake are expected to be larger than any other British Columbian open pit metal mine.
    As an initial indication of the importance of the Fish Lake Project, average drill core results obtained to date are compared with start-up reserves of the large scale, British Columbia mining projects listed below:
                              Table II
               British Columbia Porphyry Copper Mines
                    Reported Reserves at Start-Up
                                               Grade
                Reserves      Copper   Moly    Gold    NSR(a)
    Mine       Million Tons   Percent  Percent  Oz/Ton  $/Ton
    Bell          128          0.48     ---    0.010    8.20
    Brenda        175          0.18    0.049     ---    5.00
    Fish Lake  In Progress     0.27     ---    0.014    7.90
    Gibraltar     360          0.37    0.008     ---    5.20
    Island        282          0.52    0.017   0.006    9.00
    Similco       60           0.53     ---    0.005    7.30
    Valley        870          0.48    0.007     ---    7.00
    (a) Metal Prices: Copper $US 1.15/lb.; Gold $US 350/ounce
    On July 11, 1992 Taseko Mines held a successful open house for the general public at the Fish Lake development site.  A total of 175 people from the Williams Lake and Chilcotin regions attended the information session.  Of these attendees, 50 took time to fill out a questionnaire on the project.  Eighty-six percent of those that responded were in favor of development of the Fish Lake Project; 14 percent were undecided and no one was opposed.  Taseko Mines said it wishes to thank the citizens of Williams Lake and the Chilcotin region for their high level of support of the Fish Lake Project.
                               Table I
               Drill Hole Results -- To July 16, 1992
    Drill   From    To      Thickness    Copper    Gold      Copper
    Hole   (Feet)  (Feet)    (Feet)     Percent   (Oz/Ton)    Equiv
                                                             Percent
    91-1     32     2746      2714        0.37     0.022      1.12
    91-2     25     2712      2687        0.35     0.019      1.00
    91-3    144     2617      2473        0.35     0.016      0.90
    91-4    105     2552      2348        0.32     0.015      0.84
    91-5     63     2419      2356        0.30     0.015      0.82
    91-6     35     2610      2575        0.31     0.013      0.78
    91-7     50      748       698        0.26     0.013      0.73
    91-8,10 649     2368      1719        0.33     0.015      0.86
    91-9    170     2303      2074        0.23     0.010      0.54
    92-11    40     1686      1646        0.18     0.011      0.56
    92-12   171     2545      2374        0.30     0.015      0.82
    92-13    30      272       242        0.18     0.023      0.98
    92-14    15     2697      2683        0.33     0.017      0.90
    92-15    97     1738      1504        0.21     0.011      0.59
    92-16   210     2342      2132        0.23     0.013      0.68
    92-17   150      512       362        0.10     0.028      1.08
    92-18    42      538       496        0.18     0.011      0.55
    92-19   220     2506      2286        0.29     0.015      0.79
    92-20   330      958       628        0.14     0.010      0.48
    92-21    20     2677      2657        0.31     0.017      0.88
    92-22    12      695       683        0.17     0.015      0.68
    92-23         Below 0.4 percent copper equivalent cutoff grade
    93-24         Below 0.4 percent copper equivalent cutoff grade
    92-25   144     2381      2237        0.26     0.016      0.80
    92-26   132     2279      2147        0.21     0.011      0.57
    92-27   214     1502      1288        0.22     0.010      0.58
    92-28    30     2316      2286        0.31     0.015      0.82
    92-29   321     1483      1161        0.21     0.012      0.61
    92-30   423     2765      2342        0.33     0.016      0.86
    92-31    40     2034      1994        0.28     0.012      0.70
    92-32   188      417       229        0.16     0.011      0.53
    92-33   354     1424      1070        0.15     0.011      0.53
    92-34    64     1306      1242        0.18     0.009      0.50
    92-35    74     2742      2669        0.33     0.015      0.86
    92-36    50     1293      1243        0.19     0.010      0.54
    92-37   175     2054      1879        0.20     0.012      0.59
    92-38       Below 0.4 percent copper equivalent cutoff grade
    92-39   715     2864      2149        0.34     0.014      0.81
    92-40  1030     2861      1831        0.35     0.013      0.80
    92-41   269     2119      1850        0.18     0.008      0.45
    92-42  1083     2010       928        0.26     0.014      0.75
    92-43    58      669       611        0.14     0.009      0.45
    92-44   755     2195      1440        0.24     0.011      0.62
    92-45    70     1588      1518        0.21     0.011      0.59
    92-46    52     1936      1713        0.16     0.009      0.47
    92-47  1109     2185      1076        0.26     0.012      0.66
    Average                   1680        0.27     0.014      0.75
    -0-                     7/17/92
    /CONTACT:  Robert A. Dickinson, president of Taseko Mines, 604-684-6365/
    (TKO.CF TKO.) CO:  Taseko Mines Ltd. ST:  British Columbia IN:  MNG SU: KJ -- LA012 -- 0293 07/17/92 13:50 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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