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SERRA PELADA SERRA PELADA

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					                                    1983         2011


SERRA PELADA
SERRA PELADA
Building Brazil’s Next Gold Mine.




                                           October 2011
                                                                             Forward Looking Statements
Forward‐looking statements in this presentation include statements regarding the timing and nature of future exploration and development programs that are dependent
on projections that may change as drilling continues, or if unexpected ground conditions are encountered. The Company does not currently have any mineral properties that
are in production or that contain a reserve as defined by National Instrument 43‐101. In addition, areas of exploration potential are identified which will require additional
drilling to determine whether or not they contain similar mineralization to areas that have been explored in more detail. Significant additional drilling is required at Serra
                                  size.
Pelada to fully understand system size

Certain information contained in this presentation, including any information relating to Colossus Minerals Inc.’s (“Colossus” or the “Company”) future financial or operating
performance may be deemed “forward‐looking”. All statements in this presentation, other than statements of historical fact, that address events or developments that
Colossus expects to occur, are “forward‐ looking statements”. Forward‐looking statements are statements that are not historical facts and are generally, but not always,
identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”,
 forecast , budget                                                                                          will , would , may , could , should            might
“forecast”, “budget” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such
forward‐looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and
uncertainties, many of which are beyond the Company’s ability to control or predict. Forward‐looking statements are necessarily based on estimates and assumptions that
are inherently subject to known and unknown risks, uncertainties and other factors that may cause Colossus’ actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such forward‐looking statements. Such factors include, without limitation: price levels and volatility in the spot
and forward markets for commodities; the uncertainties inherent to current and future legal challenges Colossus is or may become a party to; controls, regulations and
political or economic developments in the countries in which the Company does or may carry on business; changes in national and local government legislation in Canada,
Brazil or any other country in which Colossus currently does or may in the future carry on business; the lack of certainty with respect to foreign legal systems, which may not
be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the speculative nature of mineral exploration and
development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting
requirements of each jurisdiction that Colossus operates; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the
United States and Brazil; significant capital requirements; impact of any hedging activities; taxation; additional funding requirements; loss of key employees; changes in
project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties;
     competition. addition,                                                                          exploration,                    mining,
and competition In addition there are risks and hazards associated with the business of mineral exploration development and mining including environmental hazards      hazards,
industrial accidents, unusual or unexpected formations, pressures, cave‐ins, flooding as well as other risks discussed under the heading “Risks Factors” included in Colossus’
latest Annual Information Form filed at www.sedar.com. Forward‐looking statements are not guarantees of future performance, and actual results and future events could
materially differ from those anticipated in such statements. All of the forward‐looking statements contained in this presentation are qualified by these cautionary
statements. Colossus expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, events or
otherwise, except in accordance with applicable securities laws.

The technical information in this presentation has been reviewed by Vic Wall, PhD, Director and VP of Exploration of Colossus Minerals Inc. and Qualified Person for the
project.


                                                                                                                                                                      2
                                                         Investment Highlights




•   Serra Pelada was host to the largest precious metals rush in Latin American history, 
    1979 ‐ 1986
    1979 
•   Gold and PGM grades at Serra Pelada among the highest on record
•   Located in a politically low‐risk jurisdiction
•   Project is fully permitted and construction well underway
    Project is fully permitted and construction well underway
•   Potential to be in lowest cost quartile of producers globally
•   Significant exploration upside
•   Commercial production in 2013
    Commercial production in 2013


                                                                                            3
                                  Corporate Structure
All dollar amounts $CDN, unless noted            Current Position

Shares outstanding ‐
Shares outstanding basic                              105  illi
                                                      105 million
Shares outstanding ‐ fully diluted                  110.7 million
Market capitalization (10/06/11)                     $618 million
Share price (10/06/11)                                      $5.89
52‐week range                                     $5.14 – $9.87
Insider ownership (approximate)
                p                                              5%
Institutional ownership (approximate)                        65%
Options & warrants outstanding                         5.7 million
Cash balance (approximate at 6/30/11)
C hb l                                          USD $80 million
                                                USD $80 
Major Shareholders

       Asset Management, Acuity Investment Management, RBC Global 
Sprott Asset Management Acuity Investment Management RBC Global
Asset Management, OppenheimerFunds, Franklin Advisers, Sentry 
Investments
                                                                4
                                                                                          Senior Management
Ari Sussman                         • Over 15 years experience in natural resources industry
Executive Chairman 
                                    • Past decade focus on Latin America: raised over $500 million for many high‐quality mineral assets
                                    • CEO and Director of Continental Gold

Claudio Mancuso, CA                 • Over 10 years experience in mining industry and capital markets
President and CEO
                                    • Previously VP, Treasurer of Agnico‐Eagle Mines Limited
                                    • Involved in raising over $4 billion over the past five years in both equity and debt capital markets

Paulo Fagundes                      • 30 years operating experience in the mining industry specifically in South American mining projects
COO
                                    • Held various executive positions with Camargo Correa Group, a Brazilian diversified industrial group
                                    • General Manager of various Latin America mining operations, most recently the Mercedes Mine in northern 
                                      Mexico for Yamana Gold

Alden Greenhouse                    • Over 10 years capital markets experience in commodity risk management, foreign‐exchange and fixed income
CFO
                                      Senior management positions with RBC Capital Markets and Senior Analyst at Dominion Bond Rating Service
                                    • Senior management positions with RBC Capital Markets and Senior Analyst at Dominion Bond Rating Service

Vic Wall, PhD                       • Over 35 years experience in mining and research including various positions at Monash University in Australia, 
VP, Exploration                       Penn State and the University of Michigan
Qualified Person under NI 43‐101 
                                    • Co‐winner of the Goldcorp Challenge in 2001;  Chief Geologist, MIM Exploration Pty. Ltd. (1989‐1996); and Special 
                                      Advisor to Continental Gold

Augusto Kishida, PhD                • Over 35 years experience in Brazilian mining industry ‐ majority of career spent in various positions at Vale S.A.
VP, Business Development 
                                    • Discoveries include Fazenda Brasileiro gold deposit (Yamana) and the Catalao phosphate deposit (Anglo) 

John Wonnacott, P.Eng.              • Over 35 years experience in engineering, design, construction and management of major projects.
VP, Project Development
                                    • Engineering consultant for major mining companies including Vale S.A., Rio Tinto Limited & Diavik
                                    • Project Manager for the upgrade of Vale’s Acton PGM refinery in the UK
                                    • Co‐winner of the Canadian Council of Professional Engineers “Award of Engineering Excellence for 2003”


                                                                                                                                                     5
                                                                                                Board of Directors
Ari Sussman, Executive Chairman

Patrick Anderson                   • President and CEO of Dalradian Resources Inc., previously CEO of Aurelian Resources
                                     Co credited with discovery of FDN Deposit in Ecuador
                                   • Co‐credited with discovery of FDN Deposit in Ecuador

David Anthony                      • Currently Vice President and Senior Project Director at Cliffs Natural Resources responsible for development of a 
                                     $2.5B Chromite project in Northern Ontario. 
                                   • Previously held Senior positions at Barrick Gold in Tanzania responsible for the development of the Bulyanhulu, 
                                     Buzwagi and Tulawaka mines
                                      u ag a d u a a a          es

John Frostiak, P.Eng               • Over 35 years experience in the mining industry. Current Manager, Metallurgy and Process Development for 
Qualified Person under NI 43‐101
                                     Barrick Gold Corp.
                                   • Lead developer of both Pierina Mine and Bulyanhulu Mine for Barrick

G    H ll
Greg Hall                          • Over 35 years experience in the mining industry. Chief geologist world‐wide of Placer Dome until the Barrick
Qualified Person under NI 43‐101
                                     takeover
                                   • Credited discoveries include Granny Smith Mine (Barrick), Yandi Mine (Rio Tinto)

Mel Leiderman, CA                  • Managing Partner of Lipton LLP, Chartered Accountants.
                                     Current Member of Agnico‐Eagle Mines Limited Audit Committee (Chair from 2005 –
                                   • Current Member of Agnico Eagle Mines Limited Audit Committee (Chair from 2005 2011)

Douglas Reeson, MBA                • Current CEO of Gossan Resources and a director of Mega Uranium

Antenor Silva                      • President and CEO of MBAC Fertilizer Corp. (Brazil)
                                     Director of Yamana Gold Inc. since July 2003. He served as Yamana Chief Operating Officer from 2003 to 2007 
                                   • Director of Yamana Gold Inc since July 2003 He served as Yamana Chief Operating Officer from 2003 to 2007
                                     and as President from 2007 until his retirement from the position in 2009.



                                                                                                                                                 6
                                      Brazil

•   Commodity based economy 
•   Largest economy in South 
    America
•   World’s 8th largest economy by 
    GDP
•   World’s 5th largest country by 
    p p
    population – 190 million 
    people
•   Real GDP growth of 6% forecast 
    in 2011, controlled inflation 
    in 2011 controlled inflation
    and stable monetary policy
•   Mining friendly regulatory 
    regime

                                          7
Serra Pelada – Location and Infrastructure
                                • Prolific Carajas
                                  region

                                • Major deposits of 
                                  iron ore, copper‐
                                  gold, manganese

                                • Robust 
                                  infrastructure 
                                  with access to 
                                  roads power
                                  roads, power, 
                                  water and skilled 
                                  labour

                                • Vale S.A. 
                                  investing billions 
                                  of dollars over 
                                  the next decade 
                                  in the region
                                           g



                                                 8
  Serra Pelada Project

 Land Package
• Rare sediment hosted high‐grade gold‐
  platinum‐palladium deposit
• 874 hectare property 
• Ownership Structure:
  Colossus  75%
  COOMIGASP 25%

• High potential for additional discoveries




                                        9
                                                 Serra Pelada Overview
• Historical open pit size 400x300x100 metres
• Over 2 million ounces of gold mined at a 
  poor recovery rate from approximately 350 
  poor recovery rate from approximately 350
  metres of strike length in historic pit
• Gold, platinum and palladium mineralization 
  continues under pit and to the southwest
• 90,000 metres of drilling to date
• Multiple mineralized zones have been 
  outlined:
        Central Mineralized Zone (CMZ) 
      • C t l Mi      li d Z     (CMZ)
        – mineralized for 500 metres from the 
        edge of the historic pit and open at 
        depth to the southwest
      • GT Zone 
        – 500 metres of strike and open up‐
        plunge to the northeast and at depth 
        to the southwest
        to the southwest
      • Portal Zone

                                                                    10
                 Historical Pit
               gy f
          Geology of the CMZ




Central Mineralized Zone is 
Central Mineralized Zone is
clearly visible in the SW of 
the historical open pit




                                11
                                                                            Longitudinal Section of the CMZ
                                    Assay                                                                                  Assay
Drillhole   From (m)   To (m) Interval (m) Au (g/t)   Pt (g/t)   Pd (g/t)       Drillhole         From (m)    To (m) Interval (m) Au (g/t)   Pt (g/t)    Pd (g/t)
SPD‐115      253.05    264.70      11.65 57.28         6.58        7.66         SPD‐113              182.10   257.30       74.40 31.17           3.02          6.78
(incl)       258.20    260.20       2.00 106.85       12.94       17.27         (incl)               226.11   234.10        7.99 172.71          9.84         32.25
                                                                                                                               Assay 
                                                                                         Drillhole     From (m)   To (m) Interval (m) Au (g/t)     Pt (g/t)     Pd (g/t)
                                                                                         SPD‐034        198.90    269.60       70.70 53.59         20.77         31.30
                                                                                         (incl)         207.05    227.49       20.44 158.82        67.14        101.10




         CMZ                                                                As drilling density increases –
         extends                                                            grade increases
         onto new 
         ground




                                                                                                                                                                           12
                                                                                       Serra Pelada Results
                                                                                                              Historical Open Pit

Cabral 2002 From (m)   To (m) Interval (m) Au (g/t)   Pt (g/t)    Pd (g/t)
FD‐0032        40.0     83.0        43.0    4,709        204       1,174




                                     Gold in the sandstone below the CMZ
                                     CVRD              From (m)       To (m) Interval (m)   Au (g/t)   Pt (g/t)   Pd (g/t)
                                     FD‐0016               84.5      202.22      117.72      137.5       0.22       1.82




                                                                                                                              13
                                               Geological Cross‐Section:
                                                                                f
                                                             Location: 200m SW of Pit
                                    Assay
Drillhole   From (m)   To (m) Interval (m) Au (g/t)      Pt (g/t)    Pd (g/t)
SPD‐041      173.00    189.50      16.50       3.27        6.43        7.57

                                                                                 Assay
                                      Drillhole       From (m)      To (m) Interval (m) Au (g/t)      Pt (g/t)   Pd (g/t)
                                      SPD‐007          160.50       187.30          26.80   11.66      12.07      18.34
                                      (incl)           161.20       164.00           2.80   13.22      60.00      68.28



                                                                                                                 Assay 
                                                                        Drillhole
                                                                        D illh l       From (m)
                                                                                       F    ( )     To (m) Interval (m) A ( /t)
                                                                                                    T ( ) I t     l ( ) Au (g/t)    Pt (g/t)
                                                                                                                                    Pt ( /t)   Pd (g/t)
                                                                                                                                               Pd ( /t)
                                                                        SPD‐001         183.20      265.05       81.85       7.39    14.49      15.19
                                                                        (incl)          233.00      235.05        2.05      21.17   399.20     381.20




                                                                                                                                               14
    Geological Cross‐Section
            Location: 300m SW of pit
                                         Assay 
Drillhole   From (m)        To (m) Interval (m) Au (g/t)    Pt (g/t)   Pd (g/t)
SPD‐002      203.20      253.60         50.40 30.57          10.96      15.38
(incl)       228.00      229.50          1.50 638.04        255.20     361.90




                                                          Assay 
                Drillhole      From (m)      To (m) Interval (m) Au (g/t)     Pt (g/t)    Pd (g/t)
                SPD‐034          198.90     269.60         70.70 53.59            20.77    31.30
                (incl)           207.05     227.49         20.44 158.82           67.14   101.10




                                                                                              15
Geological Cross‐Section
          Location: 400m SW of pit



                                                 Assay
      Drillhole      From (m)       To (m) Interval (m) Au (g/t)   Pt (g/t)   Pd (g/t)
      SPD‐095          223.00      224.80         1.80 63.83         3.37       3.92
      (and)            235.07      242.00         6.93 59.66        70.68      45.95
      (and)            259.81      267.62         7.81 136.43      249.20     121.40


                                             Assay 
 Drillhole        From (m)      To (m) Interval (m) Au (g/t)   Pt (g/t)   Pd (g/t)
 SPD‐099           236.70    244.00          7.30 1494.70 516.60 558.90
 (incl)
 ( )               239.95    242.30          2.35 4631.70 1600.00 1730.00




                                                                                         16
                              SPD‐099: High‐Grade Core

            From       To     Interval    Gold     Platinum    Palladium
             (m)      (m)       (m)        (g/t)     (g/t)       (g/t)


            236.70   244.00    7.30      1494.70   516.60      558.90


including   239.95
            239 95   242.30
                     242 30    2 35
                               2.35      4631.70
                                         4631 70   1600 00
                                                   1600.00     1730.00
                                                               1730 00


            246.44   250.79    4.35       37.39     2.75         3.56




                                                                           17
                                              Full PGM Suite Assay Results
              From      Interval   Gold    Platinum   Palladium   Rhodium    Iridium   Ruthenium   Osmium
Drill Hole   (metres)   (metres)    g/t       g/t         g/t       g/t         g/t       g/t        g/t



 FD‐072      251.79     13.71      204.5    58.6      69.2        1.61      0.90        0.11        0.02

Including    251.79      7.88      406.4    98.4      115.7       2.74      1.52        0.19        0.03

             256.85      1.87      1431     248       321.4       6.50      4.21        0.39        0.10



FD‐058A      230.04      1.91      169.1   13.64      18.99       0.43      0.59        0.03       <0.02

   and       277.58      8.93      9.62     6.11      6.68        0.21      0.12        0.02       <0.02



 FD‐062      273.74      3.06      115.9   35.57      46.12       1.33      0.75        0.11       <0.02



 FD‐104      274.4       7.50      27.73    9.68      6.62        0.41      0.14        0.03       <0.02

                                                                                                           18
                                                                                                                                    Lower Limb Zones


                                                                                                        Assay 
                                                                        Drillhole From (m) To (m) Interval (m) Au (g/t) Pt (g/t) Pd (g/t)                • GT Zone is located 150 
                                                                        SPD‐066 138.80 140.62                 1.82    32.07 <0.02        0.01
                                                                                                                                                           metres west of the CMZ

Drillhole   From (m)
                                    Assay 
                       To (m) Interval (m) Au (g/t) Pt (g/t) Pd (g/t)                Drillhole From (m)
                                                                                                    ( )        ( )
                                                                                                                         Assay 
                                                                                                            To (m) Interval (m) Au (g/t) Pt (g/t) Pd (g/t)
                                                                                                                            ( )    (g )     (g )     (g )
                                                                                                                                                               • 500 metres of strike 
SPD‐110      129.10 130.50           1.10     8.57     0.20     0.52                 SPC‐012       133.90 139.05          5.15     8.04 154.50 245.80            and open up‐plunge 
(and)        191.90 193.30           1.40    10.62     0.42     1.45                 (incl)        134.80 139.05          4.25     9.43 197.30 313.90
                                                                                                                                                                 to the northeast 
                                                                                                                                                                 and at depth to the 
                                                                                                                                                                 southwest
                                                                                                                                                         • Portal Zone is located 700 
                                                                                                                                                                              Historic Pit
                                                                         Drillhole      From (m)
                                                                                                                 Assay 
                                                                                                    To (m) Interval (m) Au (g/t) Pt (g/t) Pd (g/t)
                                                                                                                                                           metres back from the 
                                                                         SPGT‐001        264.15 276.05           11.90    28.40     4.16 6.18              nose of the CMZ fold
                                                                         (incl)          270.70 274.95            4.25    67.89     7.64 13.96


                                                                                                                                                         • Other lower limb zones 
                                                                                                                                                           likely




                                                                                                                                                                                  19
Exploration Potential On New Ground
                  • 6 drill rigs currently operating
                  • Soil geochemistry, ground 
                         g          y g
                    radiometrics and geological 
                    mapping ongoing
                  • Drilling of shallow targets to 
                                 2H 2011
                    commence 2H 2011
                  • Under‐pit mineralization to be 
                    tested
                  • Continue drilling the 
                    southeast depth extensions of 
                    both the CMZ and GT Zones
                    500 metre step‐out holes 
                  • 500 metre step‐out holes
                    planned for the CMZ on 
                    Section 750SW




                                                      20
                       Serra Pelada Today: In Development

Historic Pit



               Stockpile pad

                                                                              Camp Kitchen
                                 Portal




                                                                        Accommodation Units


                                          Maintenance and office facilities

         Future mill site




                                                                                      21
Development Update
         • 3,500 metre decline 
           in progress – over 
           500 metres
           500 metres
           completed (end‐Sept 2011)

         • Advancing plans for 
           engineering and 
           engineering and
           design of mill facility

         • Construction of 
           gravity plant 
           gravity plant
           commencing 2H 
           2011

           Underground drilling 
         • Underground drilling
           to commence in 2H 
           2011




                           22
                              Development Photos




Current View of Site   Completed Accommodation Units




                                                       23
                         Development Photos




Portal Entrance   Underground Decline Development




                                                    24
                                  Development Photos




Underground Development   Rockbolter




                                                  25
                                 Development Photos




Underground Development   Underground Development




                                                    26
                                    Development Photos
                             Food Preparation




Camp Kitchen

               Dining Hall




                                                    27
Underground Development Program
         • Over 500 metres development completed (end‐Sept 2011) 
         • Production can commence at approximately 1,500 
           metres of decline development
         • Exploration and definition underground drilling to 
           commence in 4Q 2011
         • Initial bulk sample to be extracted from CMZ in 2H 
           2012
         • An initial 43‐101 reserve statement will be produced 
           which will outline the first 12 months of probable
           which will outline the first 12 months of probable 
           reserve in 1Q 2013, allowing the Company to 
           accurately predict future earnings 
         • The drill spacing for this reserve statement will be as 
                      p    g
           tight as possible, in sections up to 5 metre centres
         • As decline and underground development advances, 
           so will the pace of reserve drilling



                                                           28
                  Proposed Underground Development




West Zone
Exploration drill drive




                                     320 metres vertical




                           Area A   Area B



                                                           29
Mining Method – Underhand Cut & Fill

                • Underhand Cut & Fill mining method for 
                  100% extraction of the ore
                  100% extraction of the ore

                • Work from top of the orebody down 
                  excavating under cemented rock fill

                • Used in a number of high‐grade gold mines 
                  including Goldcorp’s Red Lake Mine, 
                  Barrick’s Miekle Mine, Turquoise Ridge 
                  Mine, former Eskay Creek Mine and 
                  Mine, former Eskay Creek Mine and
                  Newcrest Kencana Mine

                • Trucks to haul ore to surface via the 
                  decline

                • Target a 1,000 TPD mining rate




                                                           30
                                                   Milestones
Objective                                                   Target

Commence Phase IV - 25 000m Surface Drilling Program
                    25,000m
                                                             
Complete Construction of 6-building Accommodation Complex
                                                             
Commence Underground Diamond Drilling Program               4Q 2011


Extract Initial Bulk Sample from the CMZ                    2H 2012


C   l t Dewatering t 320 metres
Complete D  t i    to      t                                2H 2012


Complete Gravity Processing Plant Construction              2H 2012


Initial 43-101 Outlining 12 Months Probable Reserves        1Q 2013


Commercial Production                                        2013




                                                              31
                                                          In Summary
•   Gold & PGM grades at Serra Pelada are among the highest on record
•   High grade, low cost emerging producer
    High grade low cost emerging producer
•   Project is fully permitted, construction well underway
•   Solid balance sheet 
•   90,000 metres d ill d d
    90 000                             i ifi         l    i      id
                     drilled to date, significant exploration upside




                                                                        32
                    TSX: CSI
      l      i    l
www.colossusminerals.com

         Colossus Minerals Inc.   416.643.7655
 1 University Avenue, Suite 401   info@colossusminerals.com
           Toronto, ON M5J 2P1    www.colossusminerals.com
                                  Ann Candelario, VP, Investor
                                  Relations



                                                                 33
APPENDICES



             34
                                       Community
•   Striving to build a stronger community – community based 
    projects
     • Hiring locally is a priority
     • Education and  training
     • Community donations (ambulance and police 
            h l )
          vehicles)
     • Health and dental services
     • Children’s programs (sports teams, first aid training, 
          social events)
          social events)




                                     35
                         Community Programs
•   Community based projects
     • Donation of ambulance and police vehicles
     • Public security and police training
     • School renovation
     • Hospital renovation
     • Municipal stadium renovation
     • Municipal  theatre renovation
     • 2012 ‐ installation of a community centre focused on 
       worker training and qualifications, income generation 
       programs, computer training centre and 
       environmental education

•   Health
     • Vaccination programs
         Medical and dental services
     • M di l d d t l           i


                                        36
                    Community Programs
•   Education and  training programs
     • Literacy programs
     • First aid and safety training
     • Serra Pelada Capoeira school for children, 
         teenagers, youth and adults
•   Children
     • Soccer school
     • Sporting events
     • Social events
     • Visual arts workshops
     • Reading programs




                                   37
                                                               Community Relations




Minister of Mines, Edison Lobao at Serra Pelada – April 2011




                                                                      38
                                                        Analyst Coverage

Research Firm           Analyst             Latest Coverage   Target/Rating
Canaccord Genuity       Nicholas Campbell   Sept 2011
                                            Sept 2011         $13.25 – Spec. Buy
                                                              $13 25 Spec Buy
Macquarie  Securities   Michael Gray        Sept 2011         $13.00 – Outperform
Dundee Securities       Ron Stewart         Sept 2011         $13.00 – Spec. Buy
GMP Securities          George Albino       Sept 2011         $12.50 – Buy 
Clarus Securities       Laurence Curtis     Sept 2011         $11.75 – Spec. Buy




                                                                                   39
                                                             Area A – Payment Structure


    Range of production        Royalty as a percentage of
(millions of ounces of metal) gold price on precious metal
                                          sold*
      From            To

      ---              2.03                  ~ 2.1%


      2.03             4.79                  ~ 1.4%


     4.79+             ---                   ~ 1.3%



 Colossus must pay COOMIGASP R$350,000 (US$211,583**)
 per month and payments cease when production begins.
 In addition Colossus will finance their portion of CAPEX
 (25%).


 * Precious metal is defined as any one of gold, platinum,
 palladium, rhodium, osmium, ruthenium or iridium

 ** Basis 1.6288 R$ per US$ (3/31/11)




                                                                                     40
                                              Area B – Payment Structure

       700‐Hectare Land Tenement
Consideration:
• Have paid COOMIGASP R$8 million (US$4.5 
  million)
• Will pay COOMIGASP a royalty payment of 
  0.4326% of gold price of precious metals sold*
  Assume conditions of the Vale Agreement:
• Assume conditions of the Vale Agreement:
     • Spend US$5 million in exploration over 3 
       years.
      Present a reserve estimate (proven + 
     •P                    i     (
      probable) by the end of the 3rd year.
     • Pay Vale a fee of US$35/oz of gold, 
       platinum, palladium based on the reserve 
       platinum palladium based on the reserve     * Precious metal is defined as any one of gold, platinum, palladium, 
                                                   *P i         t l i d fi d               f ld l ti           ll di
       estimate.                                   rhodium, osmium, ruthenium or iridium



                                                                                                                       41
                                                                                Area C – Payment Structure

     74‐Hectare Land Tenement
                                                                                         AREA C
Consideration:
• Have paid COOMIGASP R$4 million (US $2.2 
    ll )
  million)
• Will pay COOMIGASP a royalty of 2.0908% of 
  gold price on precious metals sold*




                                 y        g ,p          ,p         ,        ,       ,
* Precious metal is defined as any one of gold, platinum, palladium, rhodium, osmium, 
ruthenium or iridium




                                                                                                        42
                Warrants and Options
                                    * as at September 30, 2011
                                    *       S     b 30 2011

WARRANT PRICE      # OF WARRANTS                   EXPIRY

    $0.40                  12,500             Dec 6, 2011
    $5.89
    $5 89                 198,177
                          198 177            O t 22 2011
                                             Oct 22, 2011

 OPTION PRICE        # OF OPTIONS                  EXPIRY
    $0.25                 250,000             Dec 15, 2011
    $0.40                 225,000             Jun 29, 2012
    $0.48
    $0 48                 500 000
                          500,000             Dec 10, 2013
                                              Dec 10 2013
    $1.00                 100,000              Sep 7, 2012
    $1.70                 300,000             Feb 25, 2013
    $1.94                 150,000             Mar 10, 2013
    $2.39                 250,000              Sep 8, 2013
    $3.70                  70,900             Sep 14, 2014
    $5.54                 110,000              Dec 7, 2014
    $5.83                  50,000             Dec 21, 2014
    $4.12                 500,000              Feb 5, 2015
    $7.06                  20,000              July 5, 2015
    $8.60                 200,000             Sep 13, 2015
    $7.63
    $7 63                 847 500
                          847,500              Feb 7, 2016
                                               F b 7 2016
    $8.37                 400,000              Mar 3, 2016
    $7.83                 200,000             Mar 14, 2016
    $7.97                 500,000            May 30, 2016
    $7.22                 150,000            June 22, 2016
    $7 74
    $7.74                 350 000
                          350,000              A 1 2016
                                               Aug 1, 2016
    $6.85                 170,000             Aug 24, 2016
    $6.74                 160,000             Sep 19, 2016

                                                        43

				
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