Media Coverage: Sprott Asset Management's Charles Oliver and Jamie Horvat highlights Colossus in recent interview with Streetwise Reports

July 2, 2009

Dear Shareholders and Friends,

Senior portfolio managers at Sprott Asset Management, Charles Oliver and Jamie Horvat, highlighted Colossus Minerals in a recent interview with Streetwise Reports.  According to Charles and Jamie, "The impact of the derivatives has yet to express itself." In this exclusive interview with The Gold Report, they explain how gold will react in the New Financial (dis)Order. Both foresee $2,000 gold in the next three years and, ultimately, "significant" hyperinflation on a global scale over the next decade.

Bringing more than 21 years of experience in the investment industry, Charles Oliver joined Sprott Asset Management (SAM) in January 2008 as an Investment Strategist with focus on the Sprott Gold and Precious Minerals Fund. Prior to joining SAM, Charles was at AGF Management Limited, where he led the team that was awarded the Canadian Investment Awards Best Precious Metals Fund in 2004, 2006, 2007, and was a finalist for the best Canadian Small Cap fund in 2007.

Jamie Horvat joined SAM in January 2008. Jamie is co-manager of the Sprott All Cap Fund, the Sprott Gold and Precious Minerals Fund and the Sprott Global Equity Fund. Jamie has over 10 years of investment experience. Prior to joining SAM, he was co-manager of the Canadian Small Cap, Global Resources, Canadian Resources and Precious Metals funds at AGF Management Limited.

I thought you would be interested in reading their comments on Colossus. These are provided below.

Regards,

Ari Sussman

Chief Executive Officer

Mr. Oliver and Mr. Horvat�s Comments:

TGR: One of the holdings that you have, Colossus Minerals Inc. (TSX:CSI), was never mentioned in your all-cap portfolio.

CO: If you look at the Precious Metals Fund, one of the first acquisitions we made when we came over to Sprott was Colossus. I went to Eric [Sprott] and said I was buying it for the Precious Minerals Fund, and he was very interested in the story. So, if you go and look at the annual reports, you will see that we've been a big shareholder of Colossus.

JH: Colossus is an example of what Charles touched on earlier�the very few and far between. A company that we could wrap our head around their geological setting, the historic database and holes being presented, the fact that it was a past producer, etc., and we could get a very good sense even before a 43-101 that this has a large potential of being a mine one day.

To see the entire interview click here: http://www.theaureport.com/pub/na/2751