Colossus Minerals Inc (COLUF)

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Colossus Minerals Appoints Paulo de Tarso Serpa Fagundes Chief Operating Officer
Colossus Minerals Inc CSI

5/9/2011 4:12:56 PM

TORONTO, ONTARIO, May 09, 2011 (MARKETWIRE via COMTEX News Network) --
Colossus Minerals Inc. (the "Company" or "Colossus")(TSX: CSI) is very pleased to announce the appointment of Paulo de Tarso Serpa Fagundes as the Company's new Chief Operating Officer, effective May 9, 2011.
Mr. Fagundes has 30 years experience in the mining industry and brings strong operating experience specifically in South American mining projects. Mr. Fagundes was most recently General Manager of the Mercedes Mine in Mexico for Yamana Desenvolvimento Mineral Ltda. where he was responsible for the development of the underground gold mine, and from 2007 to 2009 he was General Manager of Yamana's San Andres Mine in Honduras where he was responsible for operations, administration and a successful expansion of the project. He previously held senior operating positions with Camargo Correa Group, a Brazilian conglomerate and Companhia Brasileira do Cobre, a Brazilian mining company, where he was Manager of the Sao Luiz underground mine.
Mr. Fagundes graduated from Universidade Federal do Rio Grande do Sul in 1981 with a Bachelor of Science in Mining Engineering, and from Universidade de Sao Pauloin 1999 with an MBA in Business Management - Human Resources. Mr. Fagundes is fluent in Portuguese, Spanish and English.
"We are thrilled that Paulo has agreed to take on the role of managing our aggressive development timeline to production at Serra Pelada," commented Ari Sussman, CEO. "Colossus will benefit greatly from Paulo's leadership as he brings a wealth of operating experiences across a platform of industries in Latin America."
Mr. Fagundes added, "I am very excited to be joining Colossus at such a pivotal moment in the history of the Company. This is a tremendous opportunity to contribute in bringing the high profile, historically significant Serra Pelada mine into production. I look forward to building strong and long-term relationships with our team and all stakeholders."
Randy Reichert, previously Colossus President and Chief Operating Officer, is no longer with the Company. The Company wishes him every success in his future endeavours. Ari Sussman, Colossus CEO has assumed the role of President.
About Colossus:
Colossus is a development-stage mining company focused on bringing into production the high-grade gold-platinum-palladium Serra Pelada project, located in the mineral prolific Carajas region in Para State, Brazil. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals shares trade on the Toronto Stock Exchange (TSX) under the symbol CSI. The Company is headquartered in Toronto, Canada.