April, 2011

Setting the Standard in Mine Development

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 estimatedmineral resource and reserve quantities, grades and contained metal, and possible futuremining, exploration and development activities, are forward-looking statements. Although theCompany believes the expectations expressed in such forward-looking statements are basedon reasonable assumptions, such statements should not be in any way construed asguarantees of future performance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could cause actual results to differmaterially from those in forward-looking statements include market prices for metals, theconclusions of detailed feasibility and technical analyses, lower than expected grades andquantities of resources, mining rates and recovery rates and the lack of availability ofnecessary capital, which may not be available to the Company on terms acceptable to it or atall. The Company is subject to the specific risks inherent in the mining business as well asgeneral economic and business conditions. For more information on the Company, Investorsshould review the Company's annual Form 20-F filing with the United States SecuritiesCommission at www.sec.gov. and its Canadian securities filings that are available atwww.sedar.com.

Forward-Looking Statements

The Taseko Advantage

• ~$200 million cash on hand ($1/share)• Significant cash flow at current metal prices• Debt free

FinancialStrength

Growth

Stability

Long-LifeAssets

• Diversified project pipeline of 100% owned, near-term gold, copper and niobium projects

• 90% copper production increase by 2014

• 8 million ounces of gold reserves (16 million ounces of gold resources)• 6 billion pounds of copper reserves (11 billion pounds of copper

resources)• Large developing niobium resource

• Assets located in secure political jurisdiction• Experienced, operations-focused management team

Assets Located in British Columbia

BritishColumbia

Gibraltar(Copper / Moly)

Prosperity(Gold / Copper)

Vancouver

Williams Lake

Aley(Niobium)

Harmony(Gold)

Mackenzie

$0

$100

$200

$300

$400

$500

$600

$700

$800

2007 2008 2009 2010

(C$,

mill

ions

)

Cash and Equivalents Total Assets Shareholders' Equity

Strong Balance Sheet

Financial Strength

Location: 65 km north of Williams Lake, British Columbia

Ownership: 75%

Mineral Reserves:under review

2.7 billion pounds recoverable copper30 million pounds recoverable molybdenum

Mine Type: Open-pit, 55,000 tpd mill throughput

Mine Life:under review

+20 years

• 25% of Gibraltar was sold to Japanese consortium in Q1 2010 for $187 million

• $300 million invested to modernize the operation from 2006-2010; Ramp up to 55,000 tpd in H1 2011

• Additional $325 million expansion approved; construction to be completed by end of 2012

• Gibraltar is the second largest open pit copper mine in Canada

• Reserve update mid-May 2011; 43-101 mid-June 2011

→ ~$1.5 billion replacement value of fixed property and mineral assets

*LOM Production estimates are 100% of mine production

Asset Stability Gibraltar Copper Mine

Gibraltar Copper MineAsset Growth

GDP3 Project Scope

• Construction of a new 55,000 tpd concentrator• Expansion of mining fleet to allow 85,000 tpd ore delivery; 330,000 tpd mining rate• Construction of a new molybdenum separation facility• Upgrade site infrastructure to support higher mining rates and concentrator

throughput

Reserve Update

• Cut-off to remain at 0.20% Copper• Pit shells to be evaluated from $2 - $3• Expected 43-101 update by June 2011; a significant conversion of Gibraltar’s 500

million tons of resources is anticipated

Gibraltar Copper MineAsset Growth

Project Rationale• Based on a conservative $1.50/ pound margin, the project has a simple payback of

3 years• Project completion by December 2012• Take advantage of current copper curve• Transitional growth until Prosperity Federal EA Certificate received• Low capital intensity

• $4,300 / tpd mill capacity • $5,900 / tpd mill capacity (including mining equipment)

• Prosperity engineering team transferred to GDP3

Gibraltar Copper Mine

Production Profile• By 2013 copper production will have increased by 70% and molybdenum

production will increased by 170%

• Long-term total operating costs, site + off property costs, are expected to be US $1.50-$1.70/ pound

Note: All figures are on a 100% basis

Asset Growth

Annual Estimated Production (million lbs)

2011 2012 2013 2014 2015

Copper 95 115 165 180 180

Molybdenum 1.1 2.0 3.0 3.0 3.0

GDP3 Ramp UpGDP3 Construction

Commenced

Capital Costs & Financing

*Company exploring debt alternatives

Gibraltar Copper MineAsset Growth

Source of Funds: Use of Funds:

C$M % of total C$M % of total

Cash and debt* $ 176 54% Concentrator & Moly Plant $ 235 72%

Equipment financing $ 90 28% Mining Equipment $ 90 28%

JV Partner $ 59 18%

Total $325 100% Total $325 100%

2011 2012 2013 2014

Commissioning

Construction

Procurement

Project Engineering

Reserve update

Drill Program

Preliminary GDP3 Timeline

Gibraltar Copper MineAsset Growth

Growth: Project Pipeline

100% Owned Assets

• Prosperity Gold/Copper Project

• Aley Niobium Project

• Harmony Gold Project

BritishColumbia

Gibraltar(Copper / Moly)

Prosperity(Gold / Copper)

Vancouver

Williams Lake

Aley(Niobium)

Harmony(Gold)

Mackenzie

5-year production profile (based on new Federal Environmental Submission)

→ Life of mine average annual production ~490,000 gold eq. ounces**

Location: 125 km south-west of Williams Lake, British Columbia

Ownership: 100%

Mineral Reserves:7.7 million ounces recoverable gold3.6 billion pounds recoverable copper

Mine Type: Open-pit, 70,000 tpd mill throughput

Mine Life: +20 years

Growth Prosperity Gold-Copper Project

Yr 1* Yr 2 Yr 3 Yr 4 Yr 5 Average

Gold (ounces) 160,000 300,000 325,000 275,000 305,000 300,000

Copper (thousands, pounds) 75,000 130,000 130,000 120,000 120,000 130,000

* Based on 6 months production** Based on long-term Au price US $875/oz, Cu Price US $2.25/lb

$0.00

$0.60

$1.20

$1.80

$2.40

2005 2006 2007 2008 2009 2010

(Cu

- US$

/lb)

$0

$300

$600

$900

$1,200

(Au

- US$

/oz)

Project Economic Criteria Prosperity Gold-Copper Project

Consensus Price Average Au = $550

Consensus Cu = $2.25

Consensus Au = $975

Consensus Price Average Cu = $1.32

Old Project:2005 Project Economic CriteriaCu = US $1.50

Au = US $ 575

Revised Project:2011 Project Economic CriteriaCu = US $2.25

Au = US $ 875

2010 2011 2012 2013 2014 2015 2016

Commissioning

Construction

Detailed Facility Engineering &Site Prep

Federal EA Certificate

New CEAA Review

New Engineering for Project

Mine Permit Process

Provincial EA CertificateGranted

Timeline

Prosperity Gold-Copper ProjectGrowth

Location: Northern British Columbia

Ownership: 100%

Mine Type: Open Pit, 5000 tpd mill throughput

Mine Life: +20 years

Growth

Niobium

• Similar usage as molybdenum in steel• Specifically used in manufacturing high strength, low alloy steels• Green technologies, turbines, aerospace, automobile steels, oil and gas

• Global annual consumption of ferro-niobium is 210 million pounds/ year • Growing at 5-7% per year

• US $4.5 billion industry

• Price has averaged over US $20/ pound in the past four years

• 3 producers worldwide:• CBMM, Brazil• Anglo American, Brazil• IAMGOLD, Canada

Aley Niobium Project

Growth

Aley Deposit History

Cominco: Discovered in 1980• Spent $2 million on a 20 hole drill program from 1983-1986, outlined significant

niobium mineralization

• Divested in 2006, non-core

Taseko: Acquired in 2007 for $5 million• Preliminary drilling in 2007, 18 holes which confirmed Cominco’s work

2010 Exploration Program

• 23 holes drilled, for a total 4,500 meters

• Intersections from surface, up to 200 meters of niobium and rare earth mineralization

Aley Niobium Project

Top 50 Major Global Non-Producing Cu-Au Deposits by Gold Contained

• Prosperity is one of the largest non-producing copper-gold deposits in a jurisdiction with low political risk (2nd largest pre-producing deposit in a low political risk jurisdiction globally)

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High Political Risk

Medium Political Risk

Low Political Risk

Gold Grade (g/t)

94M 44M 32M

Source: Wellington West Capital Markets; Metals Economics Group 2008-2009; Fraser Mining Institute Survey for Political Risk; Transparency International Annual Report 2008

Appendix 1: Major Cu-Au Deposits

Appendix 2: Key AccomplishmentsJanuary 2010 • Received British Columbia Environmental Assessment Certificate for

Prosperity

March 2010 • Completed transaction to sell 25% Gibraltar Mine for ~$187 million

May 2010 • Signed gold stream agreement with Franco-Nevada to sell 22% of future gold production from Prosperity for US$350 million

June 2010 • BC Provincial Government granted Taseko a long-term mining lease for Prosperity, providing mineral tenure security

July 2010 • Federal Panel submitted its report to the Government of Canada, findings in-line with Taseko’s expectations and Provincial Approval

November 2010 • Prosperity project delayed due to Federal Government’s requested revisions

January 2011 • Announcement of successful drill program at Aley• 2010 production: 92.3 million lbs of copper and 941,000 lbs of molybdenum

February 2011 • Board approves a further capacity increase at the Gibraltar Mine, increasing annual copper production by ~60 million lbs to 180 million lbs

• Revised Prosperity Project description submitted to CEAA

Share Structure

Appendix 3: Investment Summary

Cash on Hand: ~C$212, as at December 31, 2011

Listed: TSX; TKO / NYSE Amex; TGB

Indices:S&P/TSX Composite : S&P/TSX Small CapS&P/TSX Global Mining : S&P/TSX Global Base Metals

Shares Outstanding: 188.9 million

Market Capitalization: $1.1 billion

52 Week High/Low: C$7.27/C$3.27 ; US$7.23/US$3.31

Analyst Coverage:

Scotia Capital, Raymond James, Wellington West, CIBC, Canaccord, Jennings Capital, Paradigm, BMO, TD Newcrest, Credit Suisse, Dahlman Rose, MLV

Target Range: $4.75- $14.25

Russell Hallbauer, P. Eng - President & CEO and Director – Mr. Hallbauer is a professional engineer with over 35 years of mining experience. He has a strong background in open pit and underground mining, overseeing operating joint ventures and revitalizing mines to profitability.

John McManus, P. Eng - Senior Vice President, Operations – Mr. McManus is a professional engineer who has worked in the BC mining industry for over 30 years. He has extensive experience in mine operation, mine engineering and environmental management.

Ron Thiessen, CA - Chairman – Mr. Thiessen is an accredited public accountant in Canada. For over 25 years, he has concentrated on the development of venture capital financing for emerging public and private companies. He is a corporate officer and director of several publicly traded exploration and development companies.

Peter Mitchell, CA - CFO – Mr. Mitchell is an accredited charter accountant in Canada. He has held leadership finance roles in the mining industry, as well as other industrial companies and more recently, in the for-profit education sector.

Brian Battison - Vice President, Corporate Affairs – Mr. Battison is a public affairs specialist with over 25 years of experience in policy development, issue management and communication in both the private and public sectors. He has been a senior political and policy advisor in BC and has served as Interim President & CEO of the Mining Association of BC.

Scott Jones, P. Eng - Vice President, Engineering – Mr. Jones has over 25 years of experience in the mining industry, including property valuations, mining feasibility studies and technical engineering support as well as 10 years in open pit operations and exploration in BC and the Yukon.

Dave Rouleau, P. Eng - Vice President, Operations – Mr. Rouleau has over two decades of experience in the mining and oil and gas industries. He has extensive experience in mine operations and engineering in British Columbia and Alberta.

Appendix 4: Experienced Management Team

Robert Rotzinger, P. Eng - General Manager, Projects – Robert is a mechanical engineer and has worked at the Gibraltar Mine since 1994 where he has taken on increasingly senior positions. He has been tasked with the management of diverse engineering, environmental, metallurgical and mining initiatives, such as the revamped molybdenum circuit and Copper Refinery project. He was a key member of the team that restarted operations at Gibraltar last year as well as participating in the development of the Gibraltar Joint Venture with Ledcor CMI Ltd.

Tom Broddy - Manager, Engineering – Tom is a mining engineer with more than 19 years of experience in the mining industry. Prior to joining Taseko in 2006, he was Manager of Container Operations at Centerm container terminal in the Port of Vancouver. He spent 16 years at Tumbler Ridge working at both the Bullmoose and Quintette coal mines and has significant experience in mine engineering, blasting, pit operations and terminal management.

Mary Ellen Thorburn – Corporate Controller – Mary Ellen is a Chartered Accountant, a Certified Public Accountant, and a Chartered Financial Analyst with more than 18 years of experience in the mining industry. Prior to joining Taseko, she has worked for Barrick Gold Corporation, UBS Securities, and PWC both in Canada and Internationally.

Keith Merriam, P. Eng - Manager, Process Engineering – Keith is a P.Eng. and an Extractive Metallurgist with over 9 years experience in the Mining Industry, primarily in the area of Mineral Processing. He has worked primarily in technical, commissioning and operational roles, gaining experience in a variety of areas and taking on increasing levels of responsibility. Prior to joining Taseko in 2008, he was the Operations General Foreman at Hudson Bay Mining and Smelting’s Flin Flon Copper/Zinc Concentrator and prior to that, he held the position of Senior Mill Metallurgist.

Katherine Gizikoff - Manager, Government and Environmental Affairs – Katherine is a professional agrologist with 28 years experience at coal and metal mines in Western Canada. Prior to joining Taseko in 2007, Katherine was consulting, providing environmental management, reclamation, research, and permitting services for the mining industry in BC. Prior to that, she was an environmental coordinator for Manalta Coal in Alberta, with earlier work experience at Elkview and Similco. Katherine has extensive experience with government-industry committees, facilitation, community liaison and consultation.

Appendix 4: Experienced Management Team

Mineral Reserves @ C$5.50 NSR/t Cut-Off1

SizeM Tonnes

Grade Recoverable Metal Contained Metal

Au (g/t) Cu (%) Au (M oz) Cu (B lb) Au (M oz) Cu (B lb)

P&P reserves 830 0.41 0.23 7.7 3.6 11.0 4.2

M&I Resources 181 0.40 0.30 - - 2.3 1.1

Total 1,011 0.41 0.24 - - 13.3 5.3

1 The mineral resource and reserve estimations were completed by Taseko staff under the supervision of Scott Jones, P.Eng., Vice-President, Engineering and a Qualified Person under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation. The estimates for the reserves used long term metal prices of US$1.65/lb for copper and US$650/oz for gold and a foreign exchange of C$0.82 per US dollar.. A technical report was filed on www.sedar.com.

2 The resource and reserve estimation was completed by Gibraltar mine staff under the supervision of Scott Jones, P.Eng., Vice President, Engineering and a Qualified Person under National Instrument 43-101. Mr Jones has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation. The estimates used long term metal prices of US$1.75/lb for copper and US$10.00/lb for molybdenum and a foreign exchange of US$0.80/C$1.00. A technical report will be filed on www.sedar.com.

Category (at 0.20% Cu Cut-off)

Size(Million Tons)

Grade Recoverable Metal Contained Metal

Cu(%) Mo(%) Cu (Billions lbs) Cu (Billions lbs)

P&P Reserves 459 0.315 0.008 2.6 2.9

M&I Resources* 959 0.298 0.008 - 5.7

Appendix 5: Reserves and Resources

Prosperity

Gibraltar