Colossus Minerals Inc. announced assay results from ongoing surface and underground drilling programs on 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. Highlights includes: SPUD-011 intersected 33.90 meters grading 3.67 g/t gold, 1.13 g/t platinum and 2.93 g/t palladium including a higher grade zone of 5.95 meters grading 9.62 g/t gold, 3.41 g/t platinum and 8.46 g/t palladium in the upper portion of the Central Mineralized Zone (CMZ).

The hole exhibited better grades and a wider zone than what was interpreted from surface drilling. SPUD-012 intersected 3.25 meters grading 4.29 g/t gold, 3.17 g/t platinum and 3.45 g/t palladium at the beginning of the CMZ before the hole was stopped due to technical problems. This hole was also successful in exhibiting higher grades and a wider zone than what was interpreted from surface drilling. SPD-175 intersected 1.20 meters grading 273.47 g/t gold, 18.82 g/t platinum and 62.67 g/t palladium in the lower limb zone (Lower Limb) indicating that the high grade mineralization mined out of the historic pit, less than 150 meters to the southeast, continues along the lower limb of the folded structure.

SPD-181 intersected 3.55 meters grading 18.81 g/t gold, 24.46 g/t platinum and 31.38 g/t palladium in the upper portion of the CMZ in between holes that returned lower grade mineralization at this elevation. This result suggests that high grade mineralization can occur at Serra Pelada that can go undetected between widely spaced drill holes and therefore demonstrates the need to drill the deposit on tight spacing.