Jinchuan Group Ltd. Completes $431 Million Acquisition of Continental Minerals

On April 29, 2011, Jinchuan Group Ltd. completed its acquisition of Continental Minerals Corporation by way of a plan of arrangement under the Business Corporations Act (British Columbia). Former shareholders of Continental, including shareholders consequent upon exercise of options pursuant to the terms of the arrangement, received $2.60 in cash and $0.10 in dividend for each Continental common share held and 0.5028 of a common share of Taseko Mines Limited for each Continental preferred share held.

As a result of the arrangement, Jinchuan acquired all of the issued and outstanding common shares of Continental. The transaction values the common equity of Continental at approximately $431 million.

Continental is a Vancouver-based resource company. Since 2005, Continental has focused on exploring and developing the Xietongmen copper-gold property in Tibet Autonomous Region, China. Jinchuan is a large Chinese state-owned mining group.

Continental was advised by Trevor Thomas of Hunter Dickinson Services Inc., and was also represented by McMillan LLP with a team that included Bernhard Zinkhofer and Barbara Collins (corporate / securities), Peter Botz (tax) and Herb Ono (US securities).