Colossus Minerals Inc. announced the results from step-out diamond drilling on the Central Mineralized Zone of the Serra Pelada Project, the Colossus-COOMIGASP joint venture located in Para State, Brazil. SPD-034 intersected 70.70 metres @ 53.59 g/t gold, 20.77 g/t platinum and 31.30 g/t palladium (89.59 g/t gold-equivalent) including 20.44 metres at 158.82 g/t gold, 67.14 g/t platinum and 101.10 g/t palladium (275.17 g/t gold-equivalent) SPD-032 intersected 39.05 metres @ 21.47 g/t gold, 6.44 g/t platinum and 9.36 g/t palladium, (32.53 g/t gold-equivalent) including 4.80 metres at 161.87 g/t gold, 49.85 g/t platinum and 73.13 g/t palladium, (247.69 g/t gold-equivalent) SPD-028 intersected 8.80 metres at 60.05 g/t gold, 0.07 g/t platinum and 0.18 g/t palladium including 5.20 metres at 99.21 g/t gold, 0.10 g/t platinum and 0.25 g/t palladium, approximate true thicknesses of mineralization. These and other step-out drill-holes have contributed materially to the definition of gold-platinum-palladium mineralization, including ultra high grade subzones in the Serra Pelada Central Mineralized Zone.

Colossus Minerals Inc. announced the appointment of Randy Reichert as President and Chief Operating Officer, effective September 24, 2009. Additionally, Vic Wall has become the Vice President of Exploration and Augusto Kishida Vice President of Business Development. Randy Reichert brings over 20 years of experience in mine operations to the Colossus team. Prior to joining the company, Randy spent two years based in London as Chief Operating Officer with Orsu Metals Corp. and Oriel Resources plc With Orsu Metals Randy was responsible for the Varvarinskoye gold copper mine in Kazakhstan, and played a significant role guiding the operation through the ramp up period substantially improving mine productivity and cost management.

Colossus Minerals Inc. announced the appointment of Steven Poad as Chief Financial Officer of the company, effective immediately. John Ross, the current Chief Financial Officer will be leaving the company effective September 14, 2009 to pursue other opportunities.