Colossus Minerals Inc.

Colossus Minerals Inc.

February 25, 2008 09:05 ET

Colossus Minerals Inc. Closes Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2008) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Colossus Minerals Inc. ("Colossus") is pleased to announce that it has closed on the over-allotment option (the "Over-Allotment Option") granted pursuant to its initial public offering which closed on February 13, 2008. The Over-Allotment Option was exercised in full for 2,580,000 additional units (the "Additional Units") for aggregate gross proceeds of $3,225,000. Each Additional Unit is comprised of one common share in the capital of Colossus and one-half of one common share purchase warrant (each a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one common share in the capital of Colossus at an exercise price of $2.00 expiring February 13, 2011.

The syndicate of agents for the offering was led by GMP Securities L.P. and included Macquarie Capital Markets Canada Inc., Blackmont Capital Inc. and Evergreen Capital Partners Inc.

Colossus intends to use the net proceeds from the offering for a significant exploration program on the Serra Pelada Gold-Platinum-Palladium project in Para State, Brazil, exploration work on the company's other properties and for general corporate purposes.

About Colossus:

Colossus is exploration and development focused on mineral resource properties in Brazil. The Company's exploration activities are currently focused on the Serra Pelada Property, consisting of one exploration license covering 100 hectares in Para State, Brazil. In addition, the Company has dedicated certain resources to its Sumidouro Property located near Ouro Preto in Minas Gerais State, Brazil and the Natividade Property in the State of Tocantins, Central Brazil.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.

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