SOURCE: Tao Minerals Ltd.

May 01, 2008 12:50 ET

Tao Minerals Provides Update on the El Colmillo Mine Project

MEDELLIN, COLOMBIA--(Marketwire - May 1, 2008) - Tao Minerals Ltd. (OTCBB: TAOL) is pleased to provide this comprehensive outline of its plans, costs and timetable for the upgrading and initiation of gold mining operations at the El Colmillo Mine. The mine and mill upgrading activities are scheduled to commence following the receipt of the second tranche of $500,000 and be completed approximately 3 months from the start-up date. Below is a cost summary of the equipment and improvements, which will be involved in the upgrade, as well as a proposed 6 months operating budget:

Mine Development - Compressor, ventilation, pumps, electric
circuits, rails, wagons (8) and wood for construction.............$131,000

Recovery Plant Modifications - Jaw crusher, cone crusher,
shaker screen, constructions, mill adjustments, cyanide circuit
adecuation and secure room construction...........................$ 44,500

Mine Operation (6 months) - Salaries, food and lodging, fuel,
explosives, road maintenance, security............................$216,000

Subtotal..........................................................$391,500

30% Contingency...................................................$117,500

Total.............................................................$509,000

Following is an abbreviated and edited description of the mineralization of the El Colmillo mine from material produced by Duncan Bain, P. Geo.: At least 3 veins are recognized in the El Colmillo mineralized zone. If only the two main veins, El Colmilla and La Muela, are considered, with both having regional continuity, assuming a grade average of 10 grams/ton of gold (Historically, production ore grades have varied between 10 and 50 grams/ton of gold with zones of enrichment of up to 250 grams/ton) and a down-dip continuation of mineralization for 300 meters, with normal disseminated wallrock mineralization, the potential exists for the presence of a highly economic gold ore body. Additionally, the gross amount of economically extractable gold could be increased significantly by the probability of the existence of sub parallel veins, as well as by continuity of all mineralized structures along the strike both to the north and south of the known workings.

Stated Jim Sikora, CEO of Tao, "We are extremely excited to have advanced our project to the point where we are beginning the upgrade of the El Colmillo mine and recovery plant and are only months away from initiating production, which, we believe, will prove out the great value that our estimates indicate exists in this property."

About Tao Minerals Ltd.

Tao Minerals (OTCBB: TAOL) is a junior exploration company based in Medellin, Colombia. Tao is successfully positioning itself as a leader in gold exploration in Colombia through key acquisitions of properties with exceptional potential for low extraction cost deposits. Tao's focus in calendar 2008 is on the upgrading and initiation of operations of its El Colmillo mine, which offers the potential to quickly provide a strong revenue stream, able to fund exploration activities on the estimated high grade gold deposit of its Golondrina property and finance additional acquisitions, while greatly enhancing shareholder value.

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 acquisition of a majority interest in two properties located in Narino Department, Southwest Colombia. 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 2006 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time to time with the Securities and Exchange Commission.

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