Colossus Minerals Announces Search for Chief Operating Officer

TORONTO, ONTARIO -- (Marketwire) -- 11/08/12 -- Colossus Minerals Inc. (the "Company" or "Colossus") (TSX: CSI)(OTCQX: COLUF) announces it has commenced a search for a new Chief Operating Officer to replace Mr. Lyle Pritchard, former Vice President, Operations, who is no longer with the Company. Claudio Mancuso, President and CEO, will assume the management duties formerly handled by Mr. Pritchard while a search is undertaken to augment the production and construction teams at Serra Pelada.

About Colossus:

Colossus is a development-stage mining company focused on bringing its Serra Pelada project into production. Serra Pelada, located in the mineral prolific Carajas region in the State of Para, Brazil, is host to one of the highest grade gold and platinum group metals deposits in the world. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Coverage of this famous mining rush by 60 Minutes can be viewed by following the link below. Colossus Minerals shares, warrants and notes trade on the Toronto Stock Exchange (TSX) under the symbols CSI, CSI.WT.A and CSI.NT respectively and in the United States its Common Shares trade on the OTCQX under the symbol COLUF. The Company is headquartered in Toronto, Canada.

http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887

Contacts:

Colossus Minerals Inc.

Ann Wilkinson

VP, Investor Relations

(416) 643-7655
awilkinson@colossusminerals.com
www.colossusminerals.com