Colossus Minerals Releases Preliminary Resource Estimate

TORONTO, ONTARIO--(Marketwired - Dec. 23, 2013) - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) ("Colossus" or the "Company") provides a preliminary resource estimate for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada ("COOMIGASP") located in the State of Pará, Brazil.

RPA Inc. (RPA) was retained by Colossus Minerals Inc. (Colossus) to complete a Mineral Resource estimate for its Serra Pelada project in Brazil. The Mineral Resource estimate is shown in Table 1 at a cut-off grade of 5 g/t Au and an effective date of December 20, 2013.

The Mineral Resource estimate is based on 248 surface core holes drilled by Colossus from 2007 to 2012 and 26 underground core holes drilled by Colossus in 2013. Drill core was split longitudinally and samples were assayed for gold, platinum and palladium. RPA has constructed three dimensional wireframes to constrain the mineralization. Grades were interpolated into the block model using ordinary kriging.

TABLE 1 MINERAL RESOURCES - DECEMBER 20, 2013
Colossus Minerals Inc. - Serra Pelada Project
Category	Tonnes (000)	g/t Au	g/t Pt	g/t Pd	Oz Au (000)	Oz Pt (000)	Oz Pd (000)
Indicated	557	12.8	2.7	4.0	230	48	71
Inferred	88	8.6	1.7	2.5	24	5	7

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