Mr. Harry Katevatis reports

COLOSSUS RESOURCES ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING

Colossus Resources Corp. has completed the first tranche of its previously announced non-brokered private placement by the issuance of 1,575,000 units at a price of 16 cents per unit for aggregate gross proceeds of $252,000. Each unit comprises one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 30 cents for 24 months from closing of the offering.

The units, common shares, share purchase warrants and shares issued upon exercise of the share purchase warrants are subject to a four-month hold period, expiring Aug. 18, 2024.

The proceeds of the first tranche will be used to pay annual property fees in Chile and for working capital.

About Colossus Resources Corp.

Colossus Resources is a relatively young junior mineral exploration company focused on maximizing shareholder value through the acquisition, discovery and advancement of high-quality copper-gold projects in the Americas.

We seek Safe Harbor.