Colossus Minerals Names David Massola as New Chief Financial Officer

Toronto, Ontario, October 16, 2013 – Colossus Minerals Inc. (the “Company” or “Colossus”) (TSX: CSI) (OTCQX:COLUF) today announced that David Massola has been appointed the Company’s Chief Financial Officer and Executive Vice President effective October 21, 2013.

Mr. Massola has over 30 years of experience in the mining industry and has held a broad range of executive and management positions in Canada, Chile and the United States. Mr. Massola was President and Chief Executive Officer of Continental Nickel Limited from 2011 until it was acquired by IMX Resources Limited in 2012. Mr. Massola served as Chief Financial Officer and Senior Vice President of Globestar Mining Corp. from 2006 until it was acquired by Perilya Limited in 2011. Prior to joining GlobeStar, Mr. Massola served as Chief Financial Officer and Vice President of De Beers Canada, Inc. from 2001 to 2006, where his responsibilities included arranging debt facilities and the implementation of all accounting systems and financial controls for the Victor and Snap Lake mines. Prior to joining De Beers, Mr. Massola spent 20 years at BHP-Billiton where his roles included the position of Vice President of Finance at BHP Diamonds Inc. where he was responsible for all financial aspects of the Ekati Diamond Mine from the construction period through commercial production. Mr. Massola holds a BSc degree in Accounting from the University of California.

Mr. Massola succeeds Alden Greenhouse who will be leaving the Company to pursue other opportunities. Mr. Greenhouse will remain with the Company to assist Mr. Massola during a brief transition period. Colossus wishes to thank Mr. Greenhouse for his service and contributions to the Company.

Colossus also announced that Gregory Ho Yuen has been appointed the Company’s Vice President, Legal and Corporate Secretary.