VANCOUVER, July 28 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE AMEX: TGB) ("Taseko" or the "Company") is pleased to provide the following update on its Prosperity Gold-Copper project.

The Prosperity Project is currently undergoing both a provincial and federal Environmental Assessment process. The Government of British Columbia process, being conducted by the Provincial Environmental Assessment Office, is expected to conclude by the end of October 2009. The Government of Canada process, a Federal Review Panel coordinated by the Canadian Environmental Assessment Agency, is expected to be completed in early 2010.

Russell Hallbauer, President and CEO of Taseko says, "Taseko has put forward an innovative and comprehensive fish and fish habitat management plan to compensate for the impact the project will have on the 111 hectare Fish Lake. Last week, on July 22, 2009, the Canadian Government's Federal Department of Fisheries and Oceans (DFO) provided clarification on its evaluation of the compensation plan, advising that DFO will be guided by the fisheries objectives set by the Province of British Columbia, which is responsible for managing the fisheries resource affected by the development project. This clarification is an important step and consistent with the efforts both governments have been making over many years to achieve greater harmonization on such matters.

"With both regulatory review processes continuing to move forward, the Company anticipates being in a position to make a decision on building the project in March of 2010."

Several First Nations, including those in closest proximity to the project, are participating fully in the Federal Review process.

Those interested in tracking the progress of the regulatory process can do so at the website for the Canadian Environmental Assessment Agency Registry for the Prosperity Gold-Copper Mine Project: http://www.ceaa-acee.gc.ca/050/details-eng.cfm?cear_id(equal sign)44811 where all federal-related documents and information are posted and at the Environmental Assessment Office website http://a100.gov.bc.ca/appsdata/epic/html/deploy/epic_project_home_6.html for all documents and information relating to the provincial review process.

Russell Hallbauer
President and CEO
No regulatory authority has approved or disapproved of the information
contained in this news release.
                     Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not 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 capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, continued availability of capital and financing, the ability to obtain and maintain required permits, including environmental, construction and mining permits and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com.