Colossus Minerals Inc. Announces COOMIGASP Shareholder Approval of Agreements to Acquire 774 Hectares of Additional Ground Continguous to Serra Pelada

Colossus Minerals Inc. (TSX: CSI)reported that the shareholders of its joint venture partner, COOMIGASP (Cooperativa de Mineracao dos Garimpeiros de Serra Pelada), have approved the previously announced option agreement with Vale S.A. to acquire a 100% interest to mine precious metals in a 700 hectare land package (“Area B”) contiguous to the existing 100 hectare Serra Pelada Project (“Area A”) currently being developed by Colossus and COOMIGASP.

The press release is quoted as saying:

In addition, the agreements between Colossus, through its Brazilian subsidiary (“Colossus Brazil”), and COOMIGASP (“CC Agreement”) covering the transfer of the Vale Option Agreement into Serra Pelada Companhia de Desenvolvimento Mineral (“SPC”), the Colossus/COOMIGASP joint venture company, and the transfer to SPC of an approximate 74-hectare tenement currently owned 100% by COOMIGASP (“Area C”) also received shareholder approval (see press release dated March 30, 2010).

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