SOURCE: Tao Minerals Ltd.
MEDELLIN, COLOMBIA--(Marketwire - Sep 18, 2012) - Tao Minerals Ltd. (OTCBB: TAON) (the "Company" or "Tao").
The Company disseminated a news release on February 15, 2012 that disclosed an inferred resource of 851,581 ounces of gold in regards to the Company's El Colmillo property. The Company was subsequently advised by the British Columbia Securities Commission that the Company was subject to their jurisdiction at the time of the news release, a fact that the Company was not aware of at the time. As a result, any resource or reserve estimates released by the Company were to have been supported by a technical report prepared in compliance with National Instrument 43-101, as prepared by a Qualified Person as defined in the Instrument. Given this, the Company inadvertently disclosed a non-compliant and potentially misleading resource estimate not prepared by a Qualified Person, and not supported by a technical report in compliance with NI 43-101.
The Company retracts information about the inferred resource estimate and has removed this news release from its website. The Company clarifies that it has not received any resource or reserve estimates, as defined by NI 43-101.
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, any resource or reserve estimated or any potential gold production from the Company's property.
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-K for the 2011 fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
James A. Sikora
President & CEO
Tao Minerals Ltd.