Colossus Minerals Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Colossus Minerals Inc. is a minerals exploration and development company focused on gold and platinum group metals in Brazil. The Company is currently concentrating on the high grade gold-platinum-palladium Serra Pelada project in Para State, Brazil.

PROJECT IN HAND

(1) Serra Pelada Project

Colossus Minerals flagship project, Serra Pelada hosts the famed high-grade gold-platinum-palladium deposit. At resource delineation stage, the project is being advanced toward production by a Colossus-COOMIGASP joint venture.

Serra Pelada is situated in the mineral prolific Carajas Province near the towns of Curionopolis and Parauapebas, Para State, northern Brazil. Access and infrastructure are excellent.

Discovered in 1979, Serra Pelada was the site of the largest ever gold rush in Latin America. During the 1980's up to 70,000 garimpeiros (artisanal miners) produced an estimated 2 million ounces of gold plus platinum and palladium, from a 400 x 300 m open pit. Garimpeiro production declined due to pit wall collapse and flooding causing bedrock mining to be dormant since the late 1980's. Additionally, from 1980-1996, Companhia Vale do Rio Doce (CVRD) drilled over 200 holes into the deposit, of which Colossus has acquired 40,000 metres of drill core and the accompanying database.

The central mineralized zone at Serra Pelada was mined along about 350 m of strike length to depths of about 120 m. CVRD drilling in this area encountered some remarkable intersections, for example drill hole FD-0032, 43 m (from 40 m) assaying 4,709 g/t gold, 204 g/t platinum and 1,174 g/t palladium (Cabral et al, 2002).

Importantly, CVRD drilling confirmed that gold-platinum-palladium mineralization extends under the pit and for more than 450 m strike length to the western boundary of the concession. In these areas mineralization has been encountered at depths of 150-350 m and constitutes the prime target of the Colossus-COOMIGASP joint venture. Colossus has received the assay results from three drill holes and results include 46.72 metres at 24.11 g/t gold, 9.04 g/t platinum and 11.57 g/t palladium.

Colossus's work program through 2009 is budgeted at over $15 million and will include 20,000 metres of core drilling, re-assaying of a significant amount of CVRD core and independent 43-101 calculated resource and scoping studies.

Recent Results

· June 11, 2008: Results of drill hole SPD-002 include: 46.72 metres at 24.11 g/t gold, 9.04 g/t platinum and 11.57 g/t palladium

· May 29, 2008: Results of drill hole SPD-001: 88 metres at 5.80 g/t gold, 6.11 g/t platinum and 6.83 g/t palladium

Program for 2008, budget CDN$6.6 million:

· Finish the re-assay program and 3D geological model
· Complete 8,000 m of core drilling
· Initiate baseline environmental studies

Program for 2009, budget CDN$9.0 million:

· Conduct of a further 12,000 m of diamond drilling
· Establish a 43-101 compliant resource
· Complete a scoping study leading to the application for a mining lease and a feasibility study in 2010.


(2) Natividade Project

The Natividade gold property, in which Colossus has an option to earn up to 70%, is located in Tocantins State in an area of excellent infrastructure. Based upon the interpretation of huge colonial open pit workings, the Company's primary targets are high-grade vein structures. A phase I scout drilling program was recently conducted and results were favourable including 2 metres at 34.91 g/t gold and 19 metres at 7.72 g/t gold. Now that Colossus has received and interpreted the results, a deeper drilling program is planned for the third quarter of 2008.

Colossus Exploration Program

During 2008 Colossus will advance the Natividade project by:

· Completing geological and structural mapping to clarify the distribution and plunges of higher grade gold 'shoots';
· Rotary Air Blast (RAB) drilling and trench rock chip sampling and soil geochemistry to better define and prioritize drill targets;
· Reverse circulation drilling of selected targets.

The proposed program is expected to cost around US$600,000.


(3) Sumidouro Project

The Sumidouro gold property is located in an area of excellent infrastructure in the prolific Quadrilatero Ferrifero, Minas Gerais State, which is currently and historically Brazil's major gold producing region. Colossus has an option to earn up to a 70% interest in the 6,000 hectare project.

Gold mineralization is widespread in the project area, occupying geological settings similar to those of the nearby Mina Passagem (reportedly 2 million ounces of gold production and resources). Colossus' prime targets are hardrock resources consisting of high grade vein systems and bulk mineable deposits. Colossus plans on conducting a phase 1 drill program towards the end of 2008.

Colossus Exploration Program

During 2008 Colossus will advance the Sumidouro project by:

· Undertaking systematic surface exploration (trenching, sampling and mapping) of the main mineralized zones to better define and prioritize drill targets (completion by May 2008);
· Drilling priority targets (late 2008).

Expenditure on this program is expected to be around US$500,000.


MANAGEMENT

Colossus Minerals Inc. has a professional management team with experience in different areas.

Ari Sussman, CEO and Chairman of the Board
Mr. Sussman has over 10 years of experience in both the resources and investment markets. During his career, he has built a strong network of business contacts throughout Latin America. These contacts have lead to the evaluation and acquisition of multiple business opportunities. From 1998-2004, Mr. Sussman was a key partner in Titanium Corporation Inc. as he helped guide the company from inception to over $100 million in market capitalization.

Vic Wall, Ph.D., President, Q.P.
Dr. Wall is a geologist with 35 years in the minerals mining, exploration, consulting and research industries. Following a career in Australian and North American academics, he held senior positions in multinational major and junior minerals companies. Professional highlights include the targeting and acquisition of gold and base metal deposits on several continents, developing new models for precious, base metal and energy mineral systems and winning the Goldcorp Challenge in 2001.

Augusto Kishida, Ph.D., Vice President of Exploration
Dr. Kishida has over 35 years experience in the mining industry with primary focus in Brazil. Dr. Kishida holds an M.Sc. in Economic Geology from Federal University of Bahia, Brazil and a Ph.D. in geology from the University of Western Ontario, Canada. He has held many high level positions within various Brazilian companies including Companhia Vale do Rio Doce (CVRD), which is the largest mining company in Brazil. Career highlights include the discovery of the Fazenda Brasileiro gold deposit currently being mined by Yamana Gold Inc. and the Catalao phosphate deposit being mined by Anglo American PLC.

John Ross, M.B.A., C.A., Chief Financial Officer
Mr. Ross has over 20 years experience as a financial officer, much of which was spent in the mining industry, including serving as the past Chief Financial Officer of both FNX Mining and IamGold.

Christian Grainger, Ph.D., Principal Geologist
Dr. Grainger is a bilingual geologist with over 10 years experience in mineral exploration and development in Brazil. Dr. Grainger attended the University of Western Australia earning both his Bachelor of Science and Doctorate degrees, the latter of which was the subject of a thesis on the genesis of Colossus' Serra Pelada Deposit. Most recently, Dr. Grainger was a Senior Exploration Geologist with Troy Resources where he oversaw an exploration team of 30 people and was instrumental in the delineation of new resources and the evaluation of new acquisitions.

Heleno Costa, Vice President Operations, Serra Pelada
Mr. Costa graduated as a geologist from the University of Brasilia in 1976 has over 30 years experience in gold, base metal and scheelite exploration, project management, the negotiation of mineral opportunities within the Brazil and environmental management for a number of mining and exploration companies, including INCO, where he served for a period of 11 years in various project and management roles. Since 1992 he has been involved in the management of an environmental consultancy business, of which he was the founding director, which has been involved with various mining and exploration companies throughout Brazil. Additionally, he has served as the President of APROMIN, the association of mining professionals within Brazil during the period 1988-1990.

Board of Directors

Ari Sussman, Chairman of the Board

Vic Wall, Ph.D., President, Q.P.

Greg Hall, Q.P.

John Frostiak, P.Eng., Director and Q.P.

Douglas Reeson, M.B.A., Director

Patrick F.N. Anderson, Director


NEWS UPDATE

On September 29, 2008, Colossus Minerals Inc. announced that it has intersected further high-grade gold-platinum-palladium in the Central Mineralized zone of the Serra Pelada project located in Para State, Brazil.

Highlights:

· SPD-007 intersected 26.85 metres at 8.61 g/t gold, 8.85 g/t platinum and 14.43 g/t palladium plus 23.30 metres at 5.11 g/t gold, 1.55 g/t platinum and 2.34 g/t palladium.

· SPD-008 intersected 7.50 metres at 19.28 g/t gold, 2.37 g/t platinum and 5.27 g/t palladium plus 10.34 metres at 21.13 g/t gold, 5.80 g/t platinum and 8.42 g/t palladium.

· Both holes exhibit very-high-grade gold and platinum group element (PGE)-rich subzones.

· SPD-003 extended outer hinge zone mineralization, intersecting 6.0 metres at 40.59 g/t gold, 0.42 g/t platinum and 0.68 g/t palladium.

· Drilling to date shows continuity of high-grade gold-platinum-palladium mineralization along 100 metres of strike length, over vertical intervals of more than 70 metres and with widths up to 40 metres in the Central Mineralized zone, up to 260 metres southwest of the historic Serra Pelada open pit.

On September 8, 2008, Colossus Minerals Inc. announced that it appoints Patrick F.N. Anderson as director, replacing David D'Onofrio, who has stepped down to pursue other interests.

Mr. Anderson co-founded Aurelian Resources Inc. and was one of the discoverers of the Condor project, which hosts the FDN epithermal gold-silver deposit. Mr. Anderson has over 14 years of experience working in all aspects of the exploration business.

On August 20, 2008, Colossus Minerals Inc. announced that it has successfully completed its phase I drilling program on the Serra Pelada project in Brazil. 17 diamond drill holes were completed for 5,129 m of HQ coring. One other hole (SPD-009) was abandoned due to poor drilling conditions. All completed drill holes intersected apparently mineralized material, but SPD-003, SPD-005 and SPD-006 were off target.

Assay results for SPD-001, SPD-002 and SPD-004 are summarized below:

· SPD-001 intersected 88 m at 5.8 g/t gold, 6.11 g/t platinum and 6.83 g/t palladium.
· SPD-002 intersected 46.72 m at 24.11 g/t gold, 9.04 g/t platinum and 11.57 g/t palladium plus 14.65 m at 22.51 g/t gold, 4.56 g/t platinum and 5.01 g/t palladium.
· SPD-004 intersected 53.5 m at 5.35 g/t gold, 2.51 g/t platinum and 4.01 g/t palladium.

A contract has been let for 5,000 m of phase II diamond drilling by two rigs to be commenced first week of October.

On August 11, 2008, Colossus Minerals Inc. announced that it has purchased the outstanding 15% net profit interest of its future earnings from the Serra Pelada project for US$4.2-million.

On August 8, 2008, Colossus Minerals Inc. announced that it has appointed Karen Murray as corporate secretary of the Company. Kelly Tang has stepped down from the position to pursue other opportunities.

On June 11, 2008, Colossus Minerals Inc. announced the results from three drill holes, SPD-002, SPD-003 and SPD-004 from the Company's ongoing program on the Serra Pelada Project, a Colossus-COOMIGASP joint venture.

Highlights:

· SPD-002 intersected

46.72 metres at 24.11 g/t gold, 9.04 g/t platinum and 11.57 g/t palladium

14.65 metres at 22.51 g/t gold, 4.56 g/t platinum and 5.01 g/t palladium

· SPD-004 intersected

53.50 metres at 5.35 g/t gold, 2.51 g/t platinum and 4.01 g/t palladium

· Both holes exhibit very high grade Au- and PGE-rich subzones

· Drilling to date shows continuity of high grade gold-platinum-palladium mineralization along 100 metres of strike length and vertical intervals of more than 50 metres in the Central Mineralized Zone up to 260 metres southwest of the historic Serra Pelada open pit.

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