Colossus Minerals Inc.
Colossus is a mineral development company with a major focus on Brazilian gold. Utilizing the considerable international mining experience and expertise of its principals, Colossus has developed useful geological models for gold and other mineralization in the Brazilian Shield, an expansive bedrock flat south of the Amazon region that dominates the country's interior. The Colossus geological models are being applied to area and project selection.
Brazil is a major mining country, with world-class deposits of iron ore, copper, nickel, manganese, and bauxite as well as gold. During Portuguese colonial times (1700s-1800s), Brazil was the world’s leading producer of gold. A second major gold rush occurred in the 1970s-80s when new hard rock mines were established and artisanal miner production from alluvial and regolithic sources was widespread. As a legacy, numerous auriferous systems have been located; many of these remain untested for their gold potential.
The current project for Colossus is Serra Pelada. Discovered in 1979, the site hosted the largest-ever gold rush in Latin America when up to 80,000 artisanal miners produced an estimated 2 million ounces of gold plus platinum and palladium from a 400mx300mx100m hand-dug open pit. In early 2007, COOMIGASP, a registered Brazilian cooperative company, was granted an exploration license for 100 hectares centered on the Serra Pelada pit; six months later, Colossus and COOMIGASP formed a partnership to develop the remaining high-grade gold-platinum-palladium bedrock mineralization. Under the terms of this joint venture, COLOSSUS will manage and operate the project, earning a majority interest by funding exploration and paying COOMIGASP a premium for the gold reserve established by the joint venture. COOMIGASP will separately develop the tailings and waste with initial financial and technical assistance from COLOSSUS.
Colossus has put together an exceptional management team. President and COO Randy Reichert has 20 years of mine operations experience, including responsibility for the successful Varvarinskoye gold-copper mine in Kazahstan, where he substantially improved mine productivity and cost management. CEO Ari Sussman has had extensive experience in market capitalization in the minerals industry. Vic Wall, Vice President of Exploration, is a geologist with 35 years in the minerals mining, consulting, and exploration industries; a Fellow of the Australian Institute of Geoscientists, Dr. Wall was the 2001 winner of the Goldcorp Challenge. Dr. Christian Grainger, Principal Geologist, has over 10 years of experience in mineral exploration and development in Brazil.
Given its mining culture, its international standard and transparently implemented mining code, and its stable political and fiscal environment, Brazil is a first-rate candidate for investment in mineral exploration. Although most of the major multinational mineral companies are operating in Brazil, comparatively few junior companies are involved in Brazilian exploration. With its winning team, its historically profitable holdings, and its good connections in the financial markets, Colossus is poised to become a leader in the Brazilian and broader exploration scenes. One of the most promising gold stocks on the TSX in a booming gold environment, Colossus has 98,476,767 fully diluted shares outstanding.
Colossus Minerals TSX:CSI; FWB:0C1
Head Office: 1 University Avenue, Suite 401 Toronto, Ontario, M5J 2P1 Contact: Elina Chow, Investor Relations T: (416) 643-7655 F: (416) 643-3890 Email: info@colossusminerals.com
Brazil Office: Colossus Geologia e Participa??es Ltda. Avenida Getulio Vargas, 1420 - Sala 1303 Savassi Belo Horizonte – Minas Gerais Brazil 30112-021
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