TORONTO, ONTARIO--(Marketwired - June 12, 2013) -

Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) (the "Company" or "Colossus") announced today that it has closed the previously announced offering with GMP Securities L.P. and Dundee Securities Ltd., as co-lead underwriters (the "Co-Lead Underwriters"), on their own behalf and on behalf of a syndicate of underwriters which included Canaccord Genuity Corp., Clarus Securities Inc. and TD Securities Inc. (together with the Co-Lead Underwriters, the "Underwriters"), with PowerOne Capital Markets Limited acting as a selling group member, pursuant to which a total of 17,968,750 common shares of the Company ("the "Offered Shares"), including those issued pursuant to the exercise, in full, of an over-allotment option granted to the Underwriters, were issued and sold at a price of C$1.60 per Offered Share for aggregate gross proceeds of C$28,750,000 (the "Offering"). The Underwriters were paid a cash commission by the Company equal to 5.0% of the gross proceeds of the Offering.

The net proceeds are intended to be used to fund development expenditures on the Serra Pelada gold-PGM mine and general working capital.

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.