TAO Minerals Ltd. (fka TAON)

[JTJ]

TAOL news release from today (in case anyone missed it):

Tao Minerals Announces Receipt of $100,000 Tranche, Completing Funding From $500,000 Financing Agreement

MEDELLIN, COLOMBIA, Oct 24, 2008 (MARKET WIRE via COMTEX) -- Tao Minerals, Ltd. (TAOL) is pleased to report that it has received a tranche of $100,000 from a $500,000 financing agreement previously announced in a news release dated June 5, 2008. This $100,000 constitutes the final payment from the lender under the agreement and satisfies the lender's commitment to Tao under that contract. Tao will utilize funds from this tranche for corporate expenses and the funding of mine operations activities at Tao's El Colmillo Gold Mine.

Monies from this $500,000 financing have enabled Tao to repair and upgrade the mining and processing facilities at El Colmillo in preparation for the initiation of full operations at an initial Phase I processing rate of 20 tonnes of ore per day, with a Phase II goal of 30 TPD and a Phase III goal of 100 TPD.

Startup operations are in progress at El Colmillo and will be detailed in an upcoming news release, followed directly by an announcement of the posting of new photographs on the Tao website, illustrating that progress -- including pictures of new equipment, accumulated ore reserves, etc.