Colossus Minerals Inc.

Colossus Minerals Inc.

January 28, 2010 15:29 ET

Colossus Minerals Announces Results of AGM and Expiry of Warrants

TORONTO, ONTARIO--(Marketwire - Jan. 28, 2010) - Colossus Minerals Inc. ("Colossus" or "the Company") (TSX:CSI) is pleased to announce the results of the voting at the Annual General and Special Meeting of Shareholders held on January 27, 2010. The Company's board of directors were re-elected by a significant majority of shares voted, giving the Board and the management team a strong mandate to move forward.

"We would like to thank the Colossus shareholders for giving us the opportunity to advance Serra Pelada for another year. Management are firmly focused on value creation and expect to meet certain critical milestones in the coming months," commented Ari Sussman, Chairman and CEO of Colossus Minerals Inc.

In addition, KPMG LLP was re-appointed as auditor of the Company and the shareholder rights plan was confirmed in accordance with its terms.

Colossus also wishes to remind certain warrantholders that the outstanding unexercised 2007 series common share purchase warrants are set to expire at 4:00pm (Toronto time) on February 13, 2010.

About Colossus:

Colossus is a minerals development company focused on the Serra Pelada high-grade gold-platinum-palladium project in Para State of Brazil. Between 1980 and 1986, Serra Pelada was host to the largest precious metals rush in Latin American history. Coverage by 60 Minutes of this famous mining rush can be viewed at:

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