Mr. John Frostiak reports

COLOSSUS MINERALS ANNOUNCES BOARD CHANGE

Colossus Minerals Inc.'s John S.M. Turner has resigned from the board of directors for personal/family reasons.

John Frostiak, chairman of the board, said: "Mr. Turner has made many valuable contributions during 11 months with Colossus. On behalf of the board and management we'd like to thank John for his contributions. We regret that family circumstances prevent John from continuing in his role as a director of Colossus."

At this time, no replacement candidate has been identified. The seven remaining members of the board, six of whom are non-management and possess a diverse set of skills, remain committed to the company and its focus on the development of the 75-per-cent-owned Serra Pelada gold-platinum-palladium mine in northern Brazil.