TASEKO ENSURES MINIMUM REVENUE STREAM FOR THE NEXT 18 MONTHS

VANCOUVER, June 28, 2011 /CNW/ --
VANCOUVER, June 28, 2011 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE
Amex: TGB) ('Taseko' or the 'Company') has purchased put options on
approximately 90% of the Company's 2012 copper production, which
ensures a minimum selling price of US$3.50 per pound. The puts were
financed by selling funded calls at an average strike of US$5.07 per
pound at a cost of US$0.10 per pound.

Russell Hallbauer, President and CEO of Taseko, stated; 'This hedge
transaction was implemented to mitigate margin risk, as we have seen
ongoing volatility in commodity prices over the past six months causing
heightened concerns on copper price stability. The 2012 put options,
combined with the remaining 2011 put options, guarantees the Company's
revenue stream for the next 18 months. This security allows us to
bridge into Taseko's roster of future opportunities without the risk
associated with a significant reduction in copper prices.'

Mr. Hallbauer continued, 'With numerous near-term projects in the
pipeline, including Gibraltar Development Plan 3, advancement of the
New Prosperity Gold-Copper project and completing the feasibility level
evaluation of our Aley Niobium project, we believe it is prudent to
secure the revenue stream on our Gibraltar production to ensure these
opportunities can be fully realized.'

During the second quarter of 2011, procurement and detailed engineering
began on Gibraltar Development Plan 3 (GDP3). The CDN$325 million
capital project will result in a 90% increase in annual copper capacity
at Gibraltar to 180 million pounds and a 70% molybdenum production
increase to 3 million pounds annually by 2013 (75% to Taseko's
account).

In early June the New Prosperity project description was submitted to
the Federal Government. The Company expects the Canadian Environmental
Assessment Agency (CEAA) to proceed with the formal environmental
assessment process for New Prosperity in the near future.

In addition, Taseko's management team is also focused on expediting the
Aley Niobium Project.  In the next six months, the Company's objective
is to convert to a measured and indicated resource and have a
feasibility study at or near completion.

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 included 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.

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For further information on Taseko, please see the Company's website at www.tasekomines.com or contact: Investor Relations - 778-373-4533, toll free 1-877-441-4533