Tao Minerals Ltd. Enters Into Negotiations to Acquire Large Mining Concession in Sur de Bolivar, Colombia
MEDELLIN, Colombia, Dec. 6, 2012 /PRNewswire/ -- Tao Minerals Ltd. (TAO) (OTCQB: TAON) is very pleased to announce that it is in negotiations to acquire a large mining concession in the Sur de Bolivar (South Bolivar) region of Colombia. Government recorded gold production from the region, between 1987 and 1994 is ca. 1,271,000 ounces of gold, and the region is presently reporting the highest annual gold production in Colombia, averaging ca. 275,000 ounces per year since 1991.
Additionally, Tao reports that Britanico Security Group (BSG) will commence a full security review of its El Colmillo gold project. BSG will compile their findings along with intelligence reports provided by the Colombian army, local police agencies and available foreign intelligence as part of this undertaking. The El Colmillo Mine concession is located in eastern Antioquia department. Tao acquired the El Colmillo property in 2007 but continuous security concerns for the surrounding region have caused Tao to engage BSG for the security review.
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 in a socially and environmentally responsible manner. As a corporation, arriving early to the boom in the expansion of natural resource development in Colombia has enabled Tao to establish itself in Colombia over the past five years, becoming adept at the necessary legal and political processes and hiring highly qualified personnel in the geological, legal and security professions.
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 2011 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
James A. Sikora
President & CEO
Tao Minerals Ltd.
SOURCE Tao Minerals Ltd.
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.