TORONTO, ONTARIO--(Marketwire - Aug. 2, 2011) - Colossus Minerals Inc. (the "Company" or "Colossus") (News - Market indicators) is very pleased to announce the appointments of Mr. Antenor F. Silva Jr. and Mr. Mel Leiderman to its Board of Directors. The appointments were effective on August 1, 2011 and as a result the Company's Board of Directors is now comprised of eight board members.
Mr. Silva is currently the President and Chief Executive Officer of MBAC Fertilizer Corp., a producer of phosphate and potassium fertilizers in Brazil that is currently focused on expansions, improvements and further development of existing assets that are expected to drive production to more than 500,000 tonnes of phosphate per year. Mr. Silva has approximately 40 years of experience in the mining and chemical industries, and has provided technical consultation and training in development, construction, start-up, operation, strategic planning and productivity for various mining, hydropower and industrial companies. Mr. Silva has been instrumental in researching and developing metallurgical and engineering processes for mill plants in mining projects in Brazil, and implementing metallurgical processes which contributed to the development of mines in Tunisia, Africa and Togo, Africa. Mr. Silva has gained significant experience in senior management at various engineering, mining and chemical companies. Mr. Silva has served as a Director of Yamana Gold Inc. since July 2003. He previously served as Chief Operating Officer from July 2003 to May 2007 and as President from May 2007 until his retirement from such position in September 2009. Prior to joining Yamana, Mr. Silva acted as Chief Operating Officer of Santa Elina Mines Corporation. Mr. Silva has also served as a director on the boards of several engineering and mining companies. Mr. Silva holds a Bachelor of Science degree in Mining Engineering from the Universidade do Estado de São Paulo in São Paulo, Brazil.
Mr. Leiderman, CA, TEP, ICD.D, is the managing partner of the Toronto accounting firm Lipton LLP, Chartered Accountants. He has over 30 years experience specializing in assurance and advisory services, financing, tax, estate and strategic planning for corporations and partnerships. He has served as an independent director of Agnico-Eagle Mines Limited since January 2003, has been a member of the Audit Committee since January 2003, and served as Chair of the Audit Committee from May 2005 to April 2011. He served as an Independent Director of Vale Inco. (Formerly CVRD Inco Limited) from October 2006 to 2007. He is a graduate of the University of Windsor (B.A.) and is a certified director of the Institute of Corporate Directors (ICD.D).
"We are delighted to welcome Antenor and Mel to our Board. Their respective experience and skillset further strengthens and complements that of our existing team and will be valuable as we advance the Serra Pelada gold-platinum-palladium project to production," commented Ari Sussman, Chairman of the Board.
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.
CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION
Except for statements of historical fact relating to Colossus, certain statements in this press release relating but not limited to the Company's exploration and development plans, activities and intentions, constitute "forward‐looking information" within the meaning of the Securities Act (Ontario) or "forward‐looking statements" within the meaning of the United States Private Litigation Reform Act of 1995. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. Forward‐looking statements are frequently characterized by words such as "target", "plan", "expect", "project", "intend", believe", "anticipate" and other similar words, or statements that certain events or conditions "appear to", "may" or "will" occur. Forward‐looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward‐looking statements. The factors include but are not limited to risks related to the joint venture operation, actual results of exploration activities, the inherent risks involved in the exploration and development of mineral properties, changes in project parameters as plans continue to be refined, delays in obtaining government approvals, the uncertainties of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties inherent to conducting business in Brazil and the rest of Latin America, the availability of equipment and supplies, unexpected adverse climate conditions, the reliance on only a few key members of management, as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form filed with Canadian provincial securities regulatory authorities and other regulatory filings which are posted on SEDAR at www.sedar.com. Unless required by law, Colossus undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward‐looking statements.
