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Colossus Minerals Inc. Provides Notice of Early Expiry of Warrants

October 26, 2009

Toronto, Canada, October 26, 2009 - Colossus Minerals Inc. (TSX: CSI) (the “Company” or “Colossus”) announced today that it will be providing notice to all registered holders of the unexercised common share purchase warrants (the "Warrants") issued in connection with Colossus' March 2009 public offering, of the Company's decision to accelerate the expiry date of such Warrants from 4:00 p.m. (Toronto time) on March 10, 2011 to 4:00 p.m. (Toronto time) on November 27, 2009, in accordance with their terms.  Each Warrant entitles the holder thereof to acquire one common share of the Company ("Common Share") at CDN$2.70.

Pursuant to the terms of the warrant indenture (the "Indenture") governing terms of the Warrants, the expiry date of the Warrants may be accelerated by Colossus in the event that (the "Acceleration Event") the closing price of the outstanding Common Shares on the Toronto Stock Exchange (the "TSX") is greater than $3.75 for a period of 20 consecutive trading days at any time after March 10, 2009.  If the Acceleration Event occurs the Indenture provides that the Company may, at its option, accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire at 4:00 p.m. (Toronto time) on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by Colossus in accordance with the Indenture; and (ii) March 10, 2011.  On October 13, 2009, the closing price of the Common Shares on the TSX was in excess of $3.75 for the 21st consecutive trading day.  

About Colossus Minerals Inc. (TSX: CSI)

Colossus is a minerals development company focused on gold and platinum group metals in Brazil. The Company is currently focusing its efforts on the high grade gold-platinum-palladium Serra Pelada project in Para State, 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 the following link: http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.

On Behalf of the Board of Directors

Per: “Ari Sussman”

Ari Sussman,
Chief Executive Officer and Chairman

For more information, please contact:

Colossus Minerals Inc.
Ari Sussman
1 University Avenue, Suite 401
Toronto, Ontario, M5J 2P1
(416) 643-7655
(416) 643-3890 (FAX)
Email: info@colossusminerals.com
Website: www.colossusminerals.com