TORONTO, ONTARIO, May 26, 2010 (Marketwire) -- Colossus Minerals Inc. (TSX:CSI) ("Colossus" or the "Company") is pleased to announce the appointment of Mr. Luiz Carlos Celaro as General Director of the Company's Brazilian subsidiary Colossus Geologia e Participacoes Ltda.
Mr. Celaro, a Brazilian citizen, has 35 years of in-country experience in engineering, construction, and mine management. Mr. Celaro worked for Vale S.A. for 9 years where he was involved in the development of several new mines in Brazil and abroad. After leaving Vale, he was a director of Bechtel/Promon, an engineering consortium responsible for metallurgy and mining contracts in Brazil. Additionally, he was the start-up engineering manager of Rio Tinto Alcan Inc.'s Morro do Ouro Mine (now Kinross Gold Corporation's Paracatu mine), and the construction and pre-operation manager for Goldcorp Inc.'s Amapari Mine. Most recently Mr. Celaro oversaw the construction of Luna Gold Corp.'s Aurizona Gold Mine.
Mr. Celaro holds degrees in both mining engineering from the Universidade Federal do Rio Grande do Sul in Brazil and an MBA in Environmental Management from Fundacao Getulio Vargas in Rio de Janeiro.
"Luiz brings to Colossus a strong pedigree of successful mine construction and start-ups. His engineering and management experience will be invaluable for Serra Pelada, where he will oversee the construction of the mine, plant, and related infrastructure," said Randy Reichert, President and COO of Colossus Minerals Inc. "We welcome Luiz to our team."
Colossus is a minerals development company focused on the Serra Pelada high-grade gold-platinum-palladium project in Para State of Brazil. Between 1980 and 1986, Serra Pelada was host to the largest precious metals rush in Latin American history. Coverage by 60 Minutes of this famous mining rush can be viewed at: http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Colossus, certain statements in this press release 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 "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 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.