Colossus Minerals Appoints David Anthony to the Board of Directors
TORONTO, ONTARIO -- (Marketwire) -- 05/18/11 -- Colossus Minerals Inc. (the 'Company' or 'Colossus') (TSX: CSI) is very pleased to announce the appointment of Mr. David Anthony to its Board of Directors.
Mr. Anthony is a mining engineer with more than 30 years experience in the mining industry and brings strong engineering and mineral processing expertise. From 2001 to 2010 Mr. Anthony held senior positions at Barrick Gold in Tanzania responsible for the development of the Bulyanhulu, Buzwagi and Tulawaka mines which are three of the four world-class gold and copper operations which form African Barrick Gold ('ABG'). Mr. Anthony was appointed Chief Operating Officer of ABG in 2009. ABG was listed on the FTSE in 2010 with a market capitalization of $3.8 billion.
Mr. Anthony graduated from Queens University in 1979 with a Bachelor of Science in Mining Engineering (Mineral Processing).
In order to make room for Mr. Anthony, Dr. Vic Wall has agreed to step down as a director of the Company yet will maintain his current Vice President, Exploration title and will continue to guide all exploration efforts at Serra Pelada.
'Dave brings very strong engineering expertise to the Board and will complement our existing skill sets very well,' commented Ari Sussman, Chairman of the Board. 'I would like to thank Vic for his dedication as a board member and look forward to benefiting from his expertise as he continues to guide our exploration efforts in unlocking the geological potential of Serra Pelada.'
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
Forward-looking statements in this press release include statements regarding the timing and nature of future exploration and development programs that are dependent on projections that may change as drilling continues, or if unexpected ground conditions are encountered. The Company does not currently have any mineral properties that are in production or that contain a reserve as defined by National Instrument 43-101. In addition, areas of exploration potential are identified which will require additional drilling to determine whether or not they contain similar mineralization to areas that have been explored in more detail. Significant additional drilling is required at Serra Pelada to fully understand system size.
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.
Contacts:
Colossus Minerals Inc.
Ann Candelario
VP Investor Relations
(416) 643-7655
acandelario@colossusminerals.com
www.colossusminerals.com