Colossus Minerals Inc. announced assay results from its expanded auger drilling program on the Elefante Area and its ongoing surface drilling program on the CMZ and GT Zone of its 75% owned Serra Pelada Gold-Platinum-Palladium Project. The Serra Pelada Project is a Colossus-COOMIGASP joint venture and is located in the State of Para, Brazil. Follow-up auger drilling in the Elefante Area continues to delineate high grade gold in soils and saprolite with values of 7.81 g/t, 5.70 g/t and 18.00 g/t gold intersections within two metres from surface. SPD-132 intersected 4.5 metres grading 16.08 g/t gold, 0.61 g/t platinum and 1.19 g/t palladium in the GT Zone filling in a 50 metre wide gap. SPD-133 intersected 0.5 metres of 12.65 g/t gold and a separate 0.5 metres of 4.39 g/t gold in the upper limb zone, proving that this zone contains high-grade gold intervals and warrants further exploration. Drill results indicate that both the upper and lower limbs of the fold structure may be more important mineralization-bearing zones than previously believed. Elefante Area: A follow-up auger drilling program was conducted in the Elefante Area after the initial auger holes SPTRD-016 and SPTRD-017 reported high grade mineralization in the area The latest results, which include values ranging from 1.06 g/t to 18.00 g/t of gold all within two metres from surface, suggest there could be a broad halo of gold mineralization occurring in the Elefante Area sourced by a deeper bedrock zone. SPTRD090 returned 1.5 metres of 2.71 g/t gold, 0.11 g/t platinum and 0.12 g/t palladium in the saprolite. This hole is located due west and along strike of the two high grade holes reported in December 2011 (SPTRD016 and SPTRD017). Currently the trend (approximately 100 metres by 50 metres) remains open to the west, east and north. Additional auger drilling is planned in the next few weeks to expand on the current program. The resulting data will be used to help guide the diamond drilling program that is tentatively scheduled for late in the second quarter of this year. GT Zone: SPD-132 was drilled on section 75NE and was designed to test for mineralization behind SPD-127, thought to be just outside of the GT Zone corridor. The results returned 4.45 metres of 16.08 g/t gold, 0.61 g/t platinum and 1.19 g/t palladium and filled in a 50 metre wide gap in this part of the zone. This intersection is only 140 metres northwest of the high grade CMZ and could indicate that the GT Zone itself is a higher grade corridor within the extensive lower limb. The GT Zone remains open to the southeast and further drilling is underway to test for mineralization between the GT Zone and CMZ to see if these zones are in fact part of a single, large lower limb mineralized system. Central Mineralized Zone: The results suggest that the focus of future surface drilling needs to be placed on the upper and lower limbs as specific target zones. Holes SPD-133 and SPD-135 indicate that these zones contain high grade values locally over significant thicknesses. With more focused drill testing, the upper limb has the potential to develop into a new zone while the lower limb is exhibiting potential to host economic mineralization between the GT Zone and the CMZ. SPD-133 was drilled along section 225NE and was designed to investigate the upper limb mineralization and the CMZ. The hole was successful in returning two narrow intervals (0.5 metres each) of 12.65 g/t and 4.39 g/t gold, confirming that the upper limb mineralization contains significant gold grades and that further drill holes designed to specifically target the upper limb at better angles and with tighter spacing are in order to evaluate its full potential. SPD-134A was drilled along section 25SW and was designed to fill a gap between holes SPD-032 and SPD-047. The results returned 4.19 metres of 19.59 g/t gold, 1.60 g/t platinum and 3.26 g/t palladium, reinforcing the high grade nature of the mineralization representing the CMZ and demonstrating that it can lie tightly up against the nose of the fold. These results suggest that the ongoing, tightly spaced underground drilling may reveal additional areas of the CMZ that were not detected by the widely spaced surface drill holes. SPD-135 was drilled along section 25NE and was designed to test for CMZ mineralization in close proximity to the hinge of the fold structure. This hole intersected a classic succession of zones by first intersecting the upper limb and returning 88.65 g/t gold interval over 0.58 metres within a broader envelope that returned 11.87 g/t gold over 5.60 metres (Platinoids are typically not found in this zone). This upper limb intersection filled in a roughly 60 metre gap between holes indicating that this portion of the upper limb may be entirely mineralized and connects with the CMZ. Further drilling is underway to fill gaps between the current upper limb mineralization and the CMZ. The next mineralized zones intersected 5.19 metres of 3.14 g/t gold, 1.67 g/t platinum and 3.07 g/t palladium followed by 5.25 metres of 4.60 g/t gold in the central portion of the zone and 2.40 metres of 10.61 g/t gold, 2.07 g/t platinum and 3.26 g/t palladium in the bottom portion of the CMZ before exiting into the surrounding sandstone.