Tao Minerals Ltd.

Tao Minerals Ltd.

August 31, 2010 19:05 ET

Tao Minerals Ltd. Provides Update on Financing Activities

MEDELLIN, COLOMBIA--(Marketwire - Aug. 31, 2010) - Tao Minerals Ltd. ("TAO") (PINK SHEETS:TAON) is pleased to report that it has received $300,000 to date from its recent financing efforts. This funding will further enable Tao to move forward to achieve its near and mid-term development goals. Tao's primary focus is the start up and resumption of production at the El Colmillo gold mine project which offers the potential to quickly provide a strong revenue stream as Tao moves forward to becoming a growth oriented gold producing company. The company will be making further financing announcements as they become available.

Tao regrets to report that the CFO, Julio Calle, resigned his position due to a personal health issue. Tao President and CEO, James Sikora, said today, "We wish Julio an expedient recovery and we thank him for his service to the company over the past years." Mr. Sikora will assume the CFO position while the company searches for a replacement.

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 current report 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, including but not limited to, the use of the funds received from the equity financing for operational costs at the El Colmillo gold mine, the extent to which such funds will cover operational costs or upgrades, or that mine operations will commence or be upgraded. 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. We are not in control of metals prices and these could vary to make development uneconomic. 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 most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

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