Tao Minerals Ltd. announced that it is beginning the execution of its plan to upgrade the El Colmillo Gold Mine by expending the funds from the previously announced, most recent, financing tranche of $100,000 to implement Phase I of the mine upgrade program. Phase I of the program focuses on the existing mining works. The mine is currently idle and Phase I activities are designed to accomplish its reactivation to the extent of its existing full installed capacity. Actions to accomplish this will include developing the tunnels to increase the throughput volume of ore and, in concert with that, working to increase knowledge of the mine´s characterization in terms of its specific mineralogy to determine the best approach to the set-up of the upgraded gold recovery circuit.

On 06/17/2008, Tao Minerals Ltd. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Tao Minerals Ltd. has secured an additional financing in the amount of $500,000. The $500,000 financing will be provided by a different investor than the $1,000,000 financing. An initial tranche of $150,000 has been received by Tao with respect to this new financing with the balance due to be received within thirty days. As previously disclosed, the initial tranche of $125,000 on the original $1,000,000 financing was already received. The balance of $875,000 under the original $1,000,000 is due after the declaration of effectiveness of the registration statement to be filed with the Securities and Exchange Commission with respect to the original $1,000,000 financing. The receipt of the initial tranche of both financings along with imminent arrival of the other infusions mark the first of a number of steps which will enable the company to quickly move forward to achieve its near and mid-term development goals.