tko agm 16 june2010

Annual General MeetingJune 16, 2010

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

Forward-Looking Statements

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Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10

Copper (US$/lb)Taseko Share Price (C$)

2008 – An Unprecedented Collapse

2009 – An Unexpected Rebound

A Year in Review

Low – US$1.26/lb

Low – C$0.66/share

February 2009 – Finalized a US$30 million term loan facility with Credit Suisse to fund expansion projects at its Gibraltar Mine

June 2009 – Purchased entire US$30 million of Convertible Bonds, out of working capital, eliminating the dilutive effects of the bonds

August 2009 – Completed installation of a new tower mill, increasing regrind capacity and improving metal recoveries

September 2009 – With the addition of Investec, the Company increased its term loan facility to US$50 million.

November 2009 – Increased Prosperity reserves to 7.7 million ounces of recoverable gold and 3.6 billion pounds of recoverable copper

January 2010 – Received British Columbia Environmental Assessment Certificate for Prosperity

March 2010 – Repaid entire US$50 million long-term credit facilityMarch 2010 – Completed transaction to sell 25% of Gibraltar Mine for ~$187

millionApril 2010 – 23.2 million pounds of copper production from Gibraltar in Q1 2010May 2010 – Signed gold stream agreement with Franco-Nevada to sell 22% of

future gold production from Prosperity for US$350 million

Key Accomplishments

A Year in Review

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CathodeConcentrate

A Year in Review

Steadily Increasing Production

• In second half of 2008, all capital projects were supspended• Expansion modernization projects back on track and benefits

now being realized

Financial Returns

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Financial Returns

Balance Sheet Strengthened

A Year in Review

Peer Performance

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Taseko

QuadraTeck

InmetFirst Quantum

Rio TintoAnglo

FreeportImperial

Capstone

Taseko Stock has increased670% in last 17 months, compared to our peer average of 270%

Location: 125 km south-west of Williams Lake, BC

Ownership: 100%

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

Mine Type: Open-pit

Estimated Annual LOM Production:

245,000 ounces gold110 million pounds copper

Mine Life: 33 years

Prosperity Gold-Copper Project

• Environmental Assessment Approval• Provincial Gov’t approval received on January 14, 2010 • Federal Gov’t approval expected in Q3/10

• Mine Permitting• Underway• Submission to British Columbia Ministry of Mines in

April/10

Yr 1* Yr 2 Yr 3 Yr 4 Yr 5

Gold (ounces) 158,300 294,900 324,200 274,000 303,600

Copper (thousands, pounds) 72,600 125,500 131,100 116,600 118,400


Production

• 33-year mine life• 5-year production profile

• 300,000 ounces au/year• 130 million pounds cu/year

• Life of mine average annual production ~400,000 gold eq. ounces

*Six months of production

Economics

• Feasibility Study complete • Capital cost of C$815 million• Operating cost of C$7.50 per

tonne milled• Total costs, net of BPCs at

US$3.00 cu, of negative US$330/oz gold

• Margin at today’s gold price is ~$1,500 per ounce of gold


$1.65 $2.15 $2.65 $3.15

$650 1 $225 $825 $1,425 $2,000

2 10% 17% 23% 28%

3 8.0 4.5 3.5 2.75

$750 1 $500 $1,100 $1,700 $2,300

2 13% 19% 25% 31%

3 5.5 4 3 2.5

$850 1 $775 $1,400 $1,975 $2,600

2 16% 22% 28% 34%

3 4.5 3.5 2.5 2.5

$950 1 $1,000 $1,600 $2,300 $2,900

2 19% 25% 31% 37%

3 4.0 3.0 2.5 2.25

Copper – US$/lb

1 – Pre Tax NPV @ 7.5% (C$, millions)

2 – IRR (%)

3 – Payback (years)

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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

Timeline


2006 2007 2008 2009 2010 2011 2012 2013 2014

Commissioning

Construction

Site Prep

Order Long-Lead Equipment

Project Financing

Federal EA Certificate Granted

Permit Applications Submitted

Permitting

Provincial EA Certificate Granted

Environmental Assessment Review

Reserve Update

Feasibility

BritishColumbia

Prosperity(Gold / Copper)

Williams Lake

Mt. Milligan(copper/gold)

Galore Creek(copper/gold)

Copper Mtn.(copper/gold)

Red Chris(copper/gold)

Mining projects permitted in last 12-18 months


British Columbia/Canadian Permitting

• British Columbia is responsible for mine development

• The Province granted Prosperity EA Certificate in January 2010

• Four other similar projects have received EA Certificates and permits in recent history

• Federal review panel to issue final report to minister in early July

Vancouver


Details of Gold Stream Agreement

• Franco-Nevada will have right to purchase 22% of Prosperity gold production for $400/oz (inflation adjusted)

• Taseko will receive US$350 million plus 2 million Franco- Nevada 2017 share warrants

• Funding contingent on:• permitting,• project being fully financed, and• 75% of concentrate contracted for 5 years

• Deposit funded pro-rata with other sources of capital


Value of Gold Stream Agreement

• Taseko will receive ~45% of required construction capital by selling 6% of total gross revenue

Recoverable MetalAu 7.7 million ozCu 3.6 billion lb

Long-term Metal PricingAu price $925/ozCu price $2.10/lb

Total Au revenue $7.1 billionTotal Cu revenue $7.6 billionTotal revenue $14.7 billionAu revenue to FNV $0.9 billion% of total revenue to FNV 6.1%


FinancingSources: (C$ millions)

1) Cash on Hand $200

2) Sold 22% of Prosperity Gold Stream $350

3) Gibraltar Cashflow $100

Total $650Prosperity Capital Costs: $815

Financing requirements: $165

Financing Options:1. Project finance debt2. Sale of offtake for debt3. Sale of minority interest in Prosperity (5%-10%)

Gibraltar Copper Mine

Location: 65 km north of Williams Lake, BC

Ownership: 75%

Mineral Reserves:2.7 billion pounds recoverable copper30 million pounds recoverable molybdenum

Mine Type: Open-pit

Estimated Annual LOM Production:

90 million pounds copper (Taseko share)900,000 pounds molybdenum (Taseko share)

Mine Life: 25 years

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

• $300 million invested to modernize the operation• Remaining improvements expected to be completed by Q4 2010 • Average annual copper production to increase to 115 million

pounds by Q4 2010• Gibraltar is the second largest open pit copper mine in Canada• Replacement value of $825 million

Steadily Increasing Production

Gibraltar Copper Mine

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By 2013, copper production increasing by 200% plus 300,000 ounces of gold per year

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Looking Ahead

2010 Key Priorities

Receive Provincial approval for the development of Prosperity

Complete transaction to sell 25% of Gibraltar to Japanese Consortium

Reduce Long-term debt

Monetize a portion of Prosperity’s gold stream

Convert Prosperity’s mineral claims to a mining lease

Complete funding of remaining ~$165 million for construction of Prosperity

Receive final approvals for development of Prosperity from Federal Government

Commence site preparation work at Prosperity

Complete Gibraltar expansion/modernization project

Looking Ahead

New Higher Priced Hedges now in Effect

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Jan-10 Apr-10 Jul-10 Oct-10

If copper price below, then options pay Taseko

If copper above, then Taseko paysCap Price

Collar Price

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CopperCrude Oil

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If the price of copper declines, Gibraltar’s cash costs adjust accordingly

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CopperC$ / US$

Looking Ahead

Naturally Hedged


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Naturally Hedged

Looking Ahead


Analyst Recommendations

Raymond James - Tom Meyer 7.00 Paradigm Capital - David Davidson 7.75 Credit Suisse - Alex Terentiew 6.00 Canaccord Capital - Orest Wowkodaw 6.40 Jennings Capital - Peter Campbell 7.00 CIBC - Ian Parkinson 7.50 BMO Capital Markets - David Cotterell 7.00 TD Newcrest - Craig Miller 7.50 Wellington West - Steve Parsons 7.00

Bloomberg Consensus: 7.02

12-MonthTarget Price

The Taseko Advantage

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

FinancialStrength

GrowthPotential

Stability

Long-LifeAssets

• Planned 60% copper production increase from Gibraltar over next 9 months

• Diversifying into major gold producer

• 8 million ounces of gold reserves (16 million ounces of gold resources)

• 6 billion pounds of copper reserves (11 billion pounds of copper resources)

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

Market Capitalization = C$1.0 billion

Questions

tko agm 16 june2010

Business

taseko share

actual results

differ materially

williams lake

copper declines

prosperity

copper

00 copper