Taseko Mines Limited: Gibraltar Mines Signs Long-Term Labour Agreement

Market Wire, October, 2007

Taseko Mines Limited (TSX: TKO)(AMEX: TGB) announced today that an extension to the labour agreement at its Gibraltar Mine was successfully ratified by its unionized employees. This new agreement will be in place until May 31, 2012.

Russell Hallbauer, Taseko's President and CEO, commented, "We are pleased that the Company and our employees' union, the Construction and Allied Workers' Union, have reached an agreement that will provide long-term labour stability to our operation as we continue to transform Gibraltar into a world class mining operation."

Mr. Hallbauer added, "This labour agreement, along with the ongoing $130 million capital investment in Gibraltar, are key components in ensuring the economic benefits of this successful operation continue to flow back to our shareholders, employees, suppliers and the regional communities of the British Columbia Interior."

For further details on Taseko and its properties, please visit the Company's website at www.tasekomines.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Russell Hallbauer, President and CEO

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 market prices, exploitation and exploration successes, lack of continuity of mineralization, continued availability of capital and financing, 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 20-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com .

No regulatory authority has approved or disapproved the information contained in this news release.

Contacts: Taseko Mines Limited Brian Bergot Investor Services (604) 684-6365 or Toll Free: 1-800-667-2114 (604) 684-8092 (FAX) Website: www.tasekomines.com