Taseko Announces Closing of US$23 Million Bought Deal over-Allotment Option Exercised IN Full

TASEKO ANNOUNCES CLOSING OF US$23 MILLION BOUGHT DEAL

OVER-ALLOTMENT OPTION EXERCISED IN FULL

November 17 , 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO)

(“Taseko” or the “ Company”) announces that it has closed its previously announced bought deal offering,

(the “Offering”). A total of 27,750,000 common shares of the Company were sold at the price of US$0.83 per

Offered Share for gross proceeds of approximately US$ 23 million. The Offering was c ompleted pursuant to

an underwriting agreement dated November 11, 2020 among the Company and Cantor Fitzgerald Canada

Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including Velocity

Trade Capital Ltd., BMO Nesbitt B urns Inc., National Bank Financial Inc. and TD Securities Inc. (collectively,

the “Underwriters”).

In addition, the Underwriters have exercised the over -allotment option in full, with closing expected to be

completed on November 17, 2020. The Company wi ll issue an additional 4,162,500 common shares for

additional proceeds of approximately US$3.45 million.

The proceeds of the Offering are anticipated to be used to fund ongoing operating, engineering and project

costs in connection with the advancement of the Company’s Florence Copper Project and for general

corporate purposes and working capital.

The Offering was completed by way of a prospectus supplement (the “ Prospectus Supplement”) to the

Company’s existing Canadian base shelf prospectus (the “ Base Shelf Prospectus ”) and related U.S.

registration statement on Form F -10 (SEC File No. 333 -237948) (the “ Registration Statement”). The U.S.

form of Base Shelf Prospectus is included in the Registration Statement. This press release does not

constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the

securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration

or qualification under the securities laws of any such jurisdiction. The securities being offered have not been

approved or disapproved by any regulatory authority, nor has any such authority passed upon by the accuracy

or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.

For further information on Taseko, please contact:

Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533

Russell Hallbauer

Chief Executive Officer and Director

LEGAL_34704705.11

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release contains “forward -looking information” within the meaning of applicable Canadian securities

legislation, and “forward -looking statements” within the meaning of the United States Private Securities Litigation

Reform Act of 1995 (collective ly referred to as “forward -looking information”). The use of any of the words “expect”,

“plan”, “update” and similar expressions are intended to identify forward- looking information or statements. These

statements include expectations about the use of proceeds of the Offering, the anticipated closing of the Over-Allotment

Option and the advancement of the development of the Company’s Florence Copper Project . Though the Company

believes the expectations expressed in its forward -looking statements are based on reasonable assumptions, such

statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s

actual results, level of activity, performance or achievements to be materially different from those expressed or implied

by such forward- looking statements. For further information on Taseko and the assumptions and risks related to

Taseko’s business and forward looking statements , investors should review the Company’s annual information form,

annual MD&A and audited financial statements filed by the Company under Canadian securities laws at www.sedar.com

and included in the Company’s annual report on Form 40 -F filed with the United S tates Securities and Exchange

Commission at www.sec.gov, together with the Prospectus Supplement and other continuous disclosure filings made

by the Company that have been filed at www.sedar.com and www.sec.gov and incorporated by reference into the

Prospectus Supplement.

For readers in the European Economic Area and the United Kingdom

In any EEA Member State and the United Kingdom (each, a “ Relevant State”), this communication is only addressed to

and directed at qualified investors in that Relevant State within the meaning of the Prospectus Regulation. The term

“Prospectus Regulation” means Regulation (EU) 2017/1129.

For readers in the United Kingdom

This communication, in so far as it constitutes an invitation or inducement to enter into investment activity (within the

meaning of s21 Financial Services and Markets Act 2000 as amended) in connection with the securities which are the

subject of the offering described in this press release or otherwise, is being directed only at (i) persons who are outside

the United Kingdom; (ii) persons who have professional experience in matters relating to investments who fall within

Article 19(5) (Investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

(the “Order”); (iii) certain high net worth companies and persons who fall within Article 49(2)(a) to (d) (High net worth

companies, unincorporated associations etc .) of the Order; and/or (iv) any other person to whom it may lawfully be

communicated (all such persons in (i) to (iv) together being referred to as “relevant persons”). The Offered Shares are

only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Offered Shares

will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this

communication or any of its contents.