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Colossus Minerals Announces Updated Technical Report

February 3, 2010

Toronto, Ontario, February 3, 2010 – Colossus Minerals Inc. (“Colossus” or “the Company”) (TSX:CSI) is pleased to announce that it has filed an updated National Instrument 43-101 ("NI 43-101") compliant technical report entitled "Technical Report on Recent Exploration at the Serra Pelada Gold Platinum Palladium Project in Pará State, Brazil for Colossus Minerals Inc." dated January 31, 2010 (the "2010 Report") in respect of the Serra Pelada property. The 2010 Report updates the NI 43-101 report filed on December 21, 2007. A copy of the updated report is available on SEDAR and the Company’s website.


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:

For further information, please contact:

Elina Chow, Public Relations Manager
Colossus Minerals Inc.
Tel: (416) 643-7655
Web site: www.colossusminerals.com
Email: info@colossusminerals.com