Colossus Minerals Inc. announced that John Frostiak, Director will assume the role of Chairman from Ari Sussman who is resigning effective October 15, 2012. Mr. Frostiak is a highly respected and experienced international mining executive who has served on Colossus' Board since September 2007. Mr. Sussman has been Chairman since December 15, 2006 and oversaw the company's acquisition, exploration and development of the 75% owned Serra Pelada Gold-Platinum-Palladium property.

Mr. Sussman leaves Colossus fully financed and within one year of production. Mr. Sussman also oversaw the listing of Colossus in February 2008, on the Toronto Stock Exchange. Concurrent with Mr. Sussman's resignation, Mr. Claudio Mancuso has been appointed a director of Colossus to serve until the next meeting of shareholders, at which point he will stand for election to the Board of Directors.

John Frostiak, incoming Chairman of the Board of Directors, is a registered professional engineer in the province of Ontario and a member of the Canadian Institute of Mining Metallurgy and Petroleum. Mr. Frostiak recently retired as Corporate Project Manager for Barrick Gold Corporation where he was responsible for the Kabanga Ni project (Xstrata Ni is the operator).