Agoracom

TORONTO, ONTARIO -- (Marketwire) -- 11/05/08 -- Colossus Minerals Inc. (TSX: CSI) ("Colossus") is pleased to announce the appointment of Kevin Rosengren and Associates, and GeoTek Solutions to undertake geotechnical investigations of the Serra Pelada gold-platinum-palladium deposit ("Serra Pelada") and its surrounds. Serra Pelada (Brazil) is a Colossus-COOMIGASP joint venture.

The objective of the geotechnical studies is to clarify open pit and/or underground options for the development of the Serra Pelada mine.

The Rosengren-GeoTek joint venture brings world-class experience and expertise in the design of open pit and underground openings. Kevin Rosengren, FAusIMM(CP), has been an industry leader in the field of geomechanics for more than forty years, recognised in his recent award as Mineral Industry Consultants Association inaugural Medalist. Paul Maconochie (MEngSc, CPEng and RPEQ) of GeoTek Solutions has provided geotechnical consulting, specialising in open pit wall stability, for over twenty years.

On the advice of its consultants, Colossus has completed geotechnical logging of core from the Company's Phase I Serra Pelada drilling program and will drill additional holes for geotechnical investigations in its Phase II program. Colossus has provided its recently developed geological model and drilling database to the geotechnical consultancy. The consultants will also advise on and liaise with a program of hydrological and baseline environmental studies which will facilitate dewatering of the historical open pit and future mine development.

Vic Wall, Colossus President and Qualified Person, comments "The geotechnical program and Colossus' resource drilling represent significant progress towards the development of a new mine at Serra Pelada. We are pleased to have retained the Rosengren-GeoTek joint venture to assist us on this endeavour."

Contacts:
Colossus Minerals Inc.
Elina Chow
(416) 643-7655
(416) 643-3890 (FAX)
Email: info@colossusminerals.com
Website: www.colossusminerals.com