Tao Minerals Provides Update of Operations at Its El Colmillo Gold Mine
Tao Minerals, Ltd. (OTCBB: TAOL) is pleased to announce the following operational activities at its El Colmillo Gold Mine property. Mining and accumulation of ore is underway. Access road improvements and maintenance are nearly completed. Roadwork completion will allow for the delivery of the electrical generation plant, which is on hand, and the Jaw Crusher for the processing plant, which is in Medellin, awaiting transport to the mine. Cleanup of the mine site and construction of support facilities (kitchen, living quarters) are substantially complete.
In a prior news release dated September 11, 2008, Tao projected that “initial mine production will begin within approximately 60 days.” Barring any unforeseen delays, it is now anticipated that the initiation of processing of mined ore will commence in mid-November.
“We are very excited that Tao Minerals is within a month of becoming a working gold producer!” stated James Sikora, CEO of Tao. “Despite weather delays slowing the completion of work on the mine access road, we are well along in the start-up process and anticipate being fully operational within days of the target deadline we projected in a release in early September.”
Current photographs of the mine and new equipment will be available on the Tao Minerals website soon. Notification of their posting on the site will be made in an upcoming news release.
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 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 start up of the El Colmillo Gold Mine, that the Phase 1 initial production may be 20 tonnes per day, that initial mine production will begin within approximately 60 days, the timing and execution of second and third phase production increases, or an optimal third phase mining/processing target of up to 100 tonnes of ore per day.
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 Info: Tao Minerals Investor Relations 1-877-331-8777 Svd@Taomining.com
SOURCE: Tao Minerals Ltd.