Colossus Minerals Inc. provided an update on the metallurgical test-work conducted on samples from Colossus' 75% owned Serra Pelada Gold-Platinum-Palladium Project. The Serra Pelada Project is a Colossus-COOMIGASP Joint Venture located in Para, Brazil. All test work was conducted on samples from drill hole SPD-113 (74.40 metres at 31.17 g/t gold, 3.02 g/t platinum and 6.78 g/t palladium, an interval with relatively low platinum group metals grades compared with other assay results previously disclosed. Highlights: Previously disclosed gravity test-work achieved recovery rates for gold between 77% and 88%, with recoveries from SPD-113 ranging between 77% and 80%. Flotation testing of the composite gravity tails sample achieved recovery rates of 77%, 78%, and 69% for the remaining gold, platinum and palladium respectively. The significant metallurgical flotation achievement for PGM's uses a readily available, conventional and low cost combination of reagents. The flotation concentrate was produced after only six minutes of flotation and is free of deleterious elements. Based on all metallurgical results achieved to date, Colossus expects that a combined gravity and flotation process in a plant should recover between 92%-96% gold, 74%-78% platinum and 67%-71% palladium. Gravity concentration test work completed in late 2011 confirmed the amenability of Central Mineralized Zone (CMZ) samples to a simple gravity gold separation process. Multi-stage gravity separation tests conducted at Met-Solve Laboratories (Langley, BC) on two composite samples from SPD-113 (drilled on section 00 of the CMZ) confirmed previous test results, with gravity recoverable gold values of 76.6% and 79.5%.