Colossus Minerals Inc. provided a status of development at its 75% owned Serra Pelada Gold-Platinum-Palladium Project. Highlights: secondary development to access the bulk sample is well underway with just over 100 metres left to reach a new and deeper part of the Central Mineralized Zone providing a larger horizontal and vertical panel from which to extract a more representative sample. The bulk sample will consist of approximately 1,500 tonnes of material, a portion of which is to be collected and sent for testing to Metsolve in Canada.

Ground conditions and water inflow remain very manageable. Plant construction progressing and remains on track for completion in the first half of 2013.