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Colossus Provides Clarification of Rumours

Toronto, Ontario, February 26, 2010 – Colossus Minerals Inc. (“Colossus” or the "Company”) (TSX:CSI) Colossus is issuing this press release to respond to rumours circulated earlier today regarding the status of the environmental approvals for the Company's Serra Pelada project.

Earlier today the Brazilian environmental agency Para State, COEMA (Conselho Estadual de Meio Ambiente), responsible for evaluating and approving or denying environmental impact studies met to consider the environmental application of Colossus and Coomigasp for the Serra Pelada project.

While Colossus anticipates a decision will be made shortly,  no such decision has yet been rendered or made public. 

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:  http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.

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