Taseko Mines Ltd T.TKO

TKO hedging

[silverton]

TASEKO INITIATES COPPER HEDGING PROGRAM TO SECURE CASH FLOW FOR 2009

April 16, 2009, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the"Company") is pleased to announce that it has established a hedging program for approximately 50% of targetedcopper production to the end of 2009 from its wholly-owned Gibraltar Mine.

The Company used a producer put and call option – a zero premium cost strategy. Approximately 30 millionpounds of copper has been hedged with a price range of US$1.88 - US$2.36 per pound. Under the hedgingprogram, Taseko will receive the prevailing market copper price while within the price range. Should the marketprice be outside the price range, Taseko will receive a minimum of US$1.88 and a maximum of US$2.36 for the

hedged copper. The remaining estimated 30 million pounds of production is unhedged.

Russell Hallbauer, President and CEO of Taseko stated, "Even though the price of copper has increased considerably over the past three months, there remains uncertainty with the world economic outlook. Given this recent pricing strength, we believe it is timely to initiate a hedging strategy that will preserve profitability for Taseko in the event of a copper price retraction, while maintaining upside potential on the 50% of our production

that remains unhedged.”

Mr. Hallbauer continued, “With Gibraltar’s total cash costs of approximately US$1.15 per pound and a minimum hedge price of US$1.88 per pound on 50% of our production for the next eight months, we will continue our plans to complete the Phase II capital expansion at Gibraltar. After the completion of this phase, Gibraltar’s annual production is expected to reach 115 million pounds of copper and one million pounds of molybdenum.”

For further information contact: Brian Bergot, Investor Relations – 778-373-4545, toll free 1-800-667-2114

Russell Hallbauer

President and CEO