Tao Minerals Ltd.
OTC Bulletin Board : TAON

Tao Minerals Ltd.

October 12, 2010 14:44 ET

Tao Minerals Ltd. Presents Letter of Intent to Acquire the Mutata Property

MEDELLIN, COLOMBIA--(Marketwire - Oct. 12, 2010) - Tao Minerals Ltd. (Tao) (OTCBB:TAON) is pleased to report that it is has presented a letter of intent to acquire the Mutata property, a prospective gold and platinum property in Colombia. Minera Primecap Geological Services (MPGS) has been performing the due diligence on this potential acquisition and General Manager, Mr. Juan Restrepo has acted on behalf of Tao in the negotiation process. MPGS are currently assessing the property. Tao has been allowed 90 days for this assessment period with extension clauses if deemed necessary. This potential gold and platinum property presents an excellent low cost opportunity for Tao to continue our corporate goal of assembling a high quality portfolio of Colombian mineral properties to compliment the El Colmillo Gold Project.

Tao Minerals Ltd. is a mining exploration and development company formed to acquire, develop, and exploit natural resource properties focusing primarily on the rich, yet highly underdeveloped gold deposits of Colombia doing so in a socially and environmentally responsible manner.

Notice regarding forward looking statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the expectation of low cost opportunity, the final terms of the acquisition and the gold production of the property to be acquired.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2009 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Tao Minerals Ltd. - Medellin, Colombia
    James A. Sikora
    President & CEO