Colossus Minerals Inc. Announces Overnight Marketed Offering

Toronto, Canada, July 23, 2013 - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) (the “Company” or “Colossus”) announced today that it has filed and received a receipt for a preliminary short form prospectus in connection with an overnight marketed public offering (the “Offering”) of equity securities in the capital of the Company (“Securities”). The Offering will be conducted through a syndicate of underwriters co-led by GMP Securities L.P. and Dundee Securities Ltd. (the “Underwriters”). The Company has agreed to grant the Underwriters an over-allotment option to purchase up to that number of additional equity securities as is equal to 15% of the Securities sold pursuant to the Offering, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering at a price equal to the offering price of the Securities.

The Offering will be priced in the context of the market with final terms to be determined at the time of entering into an underwriting agreement.

The Securities will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec.

The net proceeds from the Offering are intended to be used to fund development expenditures at the Serra Pelada gold-PGM project including the completion of the process plant, to fund operating losses up to and including production ramp-up, to fund the costs associated with increasing the capacity of its dewatering system, and for working capital and for general corporate purposes.

The Offering is expected to close on or about August 13, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.