Colossus Minerals Inc (COLUF)

[vladuski]

COLOSSUS-COOMIGASP program

Accomplished to date:

- completed a detailed topographic survey including the capture of remaining CVRD drill collars

- acquired 45,000m of CVRD drill core and advanced a program of re-sampling and re-assay program for gold, PGE’s and other elements of potential economic significance

- begun modeling of the historical drill hole database to guide drilling

- completed eleven drill holes (3350 metres) of an initial 5000m resource delineation campaign. The results of the three diamond drill holes for which assays have been received to date may be viewed by clicking on the respective number, SPD-001, SPD-002, SPD-004. SPD-001 may be viewed also on Section 100NE and SPD-002 may be viewed also on Section 00.

Program for 2008, budget C$6.6 million:

- finish the re-assay program and 3D geological model

- complete 8,000m of core drilling

- initiate baseline environmental studies

Program for 2009, budget C$9.0 million:

- conduct of a further 12,000m of diamond drilling

- establish a 43-101 compliant resource

- complete a scoping study leading to the application for a mining lease and a feasibility study in 2010.

http://www.colossusminerals.com/main/?SerraPelada