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To: LoneClone who wrote (38104)	6/4/2009 9:25:55 AM
From: LoneClone	Respond to of 192834

Colossus Minerals Inc. TICKER: TSX: CSI theaureport.com DESCRIPTION: Colossus Minerals Inc. (“Colossus”) is an emerging mineral exploration and development company focused on Brazilian gold. Led by its skilled management team and world-class Board of Directors, Colossus has developed a robust business model that is sensitive to creating value for its shareholders. To date, the company has two high-grade precious metals projects, one of which, considered to be their “flagship”-- Serra Pelada, has proven to be a geologically unique high grade deposit with potential to delineate a significant gold-platinum-palladium resource. From 1979-1986, Serra Pelada hosted the largest precious metal rush in Latin American history. The deposit that was mined had some spectular grades of precious metals including historical drill hole FD-032, which averaged 43 metres at 4709 g/t gold, 204 g/t platinum and 1174 g/t palladium. WEBSITE: colossusminerals.com Closing Of $24.7 Million Bought Deal Financing (3/10/09) The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates. "TGR: What about Colossus? WI: Colossus Minerals is one of my favorites for a number of reasons. Again, the jurisdiction is one I like—it's in Brazil, a mining-friendly country. But what's interesting about Colossus is its very, very rich property. The grades are unlike anything I've seen in my career. And because of the tremendous grades, in terms of gold and some of the other precious metals—platinum and palladium—they're able to achieve a substantial amount of ounces of precious metals in a very small plot of land. In my opinion, Colossus will get to 3 million ounces of gold and with byproduct credits, such as platinum and palladium, that gold can be mined at a negative cost and over a short period of time. That's extraordinarily lucrative and attractive for a major mining company to step in and mine this ore. Right now, the company is extremely cheap and definitely on the majors' radar screens. The risk I see going forward is Colossus' ability to handle its relationship with partners. Its partner is a company called COOMIGASP (Cooperativa de Mineração dos Garimpeiros de Serra Pelada), an organization of the Garimpeiros who once mined the deposit in a large open pit. They're teamed up with Colossus to work on mining the underground portion of this deposit. It's frankly an extremely exciting deposit, probably richer than anything else I've ever seen. It has a negative cost of production and could be mined very quickly. It's like having almost $3 billion worth of metal just sitting there ready for you to take it out. I think it's extremely cheap and I imagine a number of majors see the same benefit, too. TGR: It's a large lake, right? WI: That's right; the old open pit has filled in with water. What Colossus has is the down-dip extension of that high-grade material found in the pit." - The Gold Report Interview with Warren Irwin (05/08/09) "We add Colossus Minerals to our exploration group. The company's primary focus is its 75%-owned Serra Pelada gold PGM project located in the Carajas region, Para State, northern Brazil. The company's other asset is the 70%-owned Natividade project in Tocantins State, Brazil. With $31 million in the treasury (last reported at $8.7 million), recently bolstered by a $24.7 million equity financing in March 2009, Colossus is adequately financed to advance Serra Pelada with an exploration budget of $5.7 million during 2009. Colossus outperformed the Haywood Junior Exploration Index (HJEI), precious metals control group (HJPI), and gold price on a TTM and 90-day basis." -CHRIS THOMPSON, HAYWOOD SECURITIES (05/04/09) "Colossus is poised to release the first set of drill results from their Phase II program initiated at the Serra Pelada project in Brazil. The company has three diamond drill rigs turning on site and we expect to see regular exploration news flow from Colossus over the next six months. In the current environment, Canaccord Adams Mining Analyst Nicholas Campbell believes Colossus is in position to begin attracting significant speculative interest over the next six months. For the most part, drilling has slowed substantially in the junior mining sector. Corporate coffers at most junior exploration companies are running low, exploration budgets have been slashed or halted and, therefore, the potential for new discoveries to drive speculative interest is significantly lower than in previous years. Colossus has ~$27 million in the bank to continue advancing the Serra Pelada project, there are three diamond drills turning and, most importantly, the unique, high-grade nature of the Serra Pelada project has the potential to deliver some eye-popping assay results. In this context, Colossus has the opportunity to attract substantial interest. Campbell has increased his multiple, estimated mineable reserve and target price." -NICHOLAS CAMPBELL, CANACCORD ADAMS (05/01/09) "Colossus Minerals announced Thursday that it has accelerated its development plans for the Serra Pelada gold-platinum-palladium project in Brazil. Colossus now has three diamond rigs on the property operating on its Phase II drill-out program. Phase II drilling, which is anticipated to continue through the end of 2009, is focused on 500 metres of strike length of the Central Mineralized Zone, as well as testing new targets to both the east and west of this zone. To date, five holes of diamond coring have been completed with three more holes presently in progress. Colossus management stated that all completed holes appear to have intersected mineralization and have been logged and sampled for assaying. CEO and Chairman Ari Sussman said, 'Facilitated by the company's recent financing, Colossus is positioned and is putting additional systems in place to advance the Serra Pelada project to Final Exploration Report stage before end 2009, ahead of schedule.' Going forward, Sussman expects to see another set of assay results in the next couple of weeks. Campbell notes that one potential explanation for the recent run-up and outperformance of Colossus' share price relative to other small-cap precious metal equities is the recent increase in the price of platinum and palladium. Colossus is weighted mainly to gold (we estimate ~70%), but still has significant exposure to PGMs (~30%). Campbell states that we should see regular drilling news flow from May forward and the drill results will likely be the main driver for the shares in 2009." - Morning Coffee, Canaccord Capital (04/13/09) "On a day when the spot gold and the majority of gold stocks were significantly lower, investors were piling into CSI. Canaccord Adams Mining Analyst Nicholas Campbell expects drill results out of Colossus any day now. Colossus is one of Campbell's favorite stories and has been featured on Canaccord Adams' most recent list of top takeover candidates. Earlier this month, Colossus closed an 11.5 million-unit offering, raising gross proceeds of $24.7 million for the company. With the financing, the company should have in excess of $31 million in the bank. Campbell expects the company to spend roughly $10 million in 2009 on its 75%-owned Serra Pelada gold/PGM project in Brazil. The 2009 program will likely include 10,000m of core drilling, analysis of rock mechanics, metallurgy and environmental base line studies, with the objective of submitting a Final Exploration Report on the Serra Pelada project by the end of the year. Campbell believes that the Serra Pelada project has the potential to host a 3.5 million gold-equivalent resource. And remember that is not your average 3.5 million ounces of gold, the economics at Serra Pelada should be drool-worthy given the amazing high-grades Colossus is coming up with. The highlight interval reported by Colossus in early February was Hole FD-072, which returned a 7.88m interval grading 406.4 g/t gold, 98.4 g/t Platinum, 115.7 g/t Palladium, 2.74 g/t Rhodium and 1.52 g/t." - Morning Coffee, Canaccord Capital (04/07/09)

To: LoneClone who wrote (38104)	6/4/2009 10:52:09 AM
From: LoneClone	1 Recommendation Read Replies (1) \| Respond to of 192834

LIES, DAMN LIES & GFMS STATISTICS By Adrian Douglas freeofstate.org On April 24, 2009 China announced that they had added 454 tonnes of gold to their gold reserves since 2003 to bring them to 1054 tonnes. This stunned everyone in the gold world except GATA. GATA had reported from a confidential source as early as September 2003 that the Chinese were buying large quantities of gold. GFMS continued to report that China carried only 600 tonnes of gold every year since 2003. Recently Philip Klapwijk of GFMS announced that the fundamentals of the precious metals market looked very negative! Having missed such a large amount of gold being purchased by China would any one believe that collection of dopey analysts? Gold was trading around $930/oz at the time so his call is not looking too good! Anyone can make a mistake but if it is an honest mistake the appropriate action is to re-examine the data. From GATA’s information China acquired most of their new reserves on the world market. But what is interesting is that by GFMS data China has become the biggest gold producer in the world, surpassing South Africa. Why would such a prolific gold producer be acquiring gold on the world market instead of from its own production? Figure 1 is the total world gold production from 1980 to 2006 compiled by GFMS. What is stunning is the supposed massive increase in gold output from China in the last ten years. Extracting the data for China alone gives the chart in Figure 2. Apparently China ramped up gold production from 5 Mozs in 1998 to 9.2 Mozs by 2008. For anyone who knows anything about mining they would know that this is just not credible. This is like India surpassing Saudi Arabia as the world’s biggest oil producer! Does China have massive rich gold reserves and are they at the cutting edge of mine development technology? Wikipedia has the following to say QUOTE en.wikipedia.org Gold mining in China dates back to the Song dynasty. The Chinese government began reforms in the mid-1990s encouraging small operators to consolidate and allow foreign companies to form joint ventures so that Chinese companies could learn modern management practices, financial controls, and industrial, environmental and safety standards. Domestic producers still suffer from a lack of scale. In 2000, there were about 2,000 gold producers - most of them relatively small and unsophisticated by international standards with very few able to operate on a global platform, though the number of producers had shrunk to about 800 in 2007 after mergers and acquisitions and restructuring and consolidation. Most of these firms’ technological standards and management are weak and inefficient. In the last five years (2002-2007), China’s Geological Survey Bureau said that five new gold deposits with reserves of 600 tons were found. END South Africa has 50% of the world’s unmined gold and is at the forefront of mining technology with some of the biggest mining companies in the world operating there. Apparently a rag-tag collection of artisans with only 7% of the world’s reserves can produce more than South Africa! If you believe that you will believe anything. The fact that GFMS can publish such absurd information further detracts from their credibility which has already been seriously questioned by their inability to determine that China almost doubled its gold reserves without them noticing! In figure 3 I have compared the GFMS world gold production with world gold production assuming Chinese gold output remained at 1998 levels of 5Mozs per year for the last 10 years. The shocking difference is in what this portends for future production trends. The GFMS profile has a gently declining production when extrapolated to 2015. When the absurd Chinese production growth is backed out the extrapolation is a shockingly rapid declining world gold output. What a great ruse! China wanted to diversify out of the large amount of dollar reserves it was accumulating. They reported that their gold holding remained static at 600 tonnes for 6 years. At the same time they reported that their gold production became the largest in the world. In other words, they claimed that they were not adding to demand but massively adding to supply! That would certainly help to keep prices of gold depressed. But such a ramp up in supply was fictitious. But it was a superb smoke screen to allow China to out-smart the arrogant Gold Cartel and take the gold they were surreptitiously dumping without the price rising too fast. Even now that China has admitted they lied about only having 600 tonnes of gold for the last 6 years, the dopes at GFMS have assumed that China was telling the truth about their mining output. They have swallowed the Chinese story hook line and sinker! They believe that China has increased its reserves from its supposed massive domestic production! The implications that China has relieved the Western Central Banks of their gold in the ill-conceived strong dollar policy are huge. The strong dollar policy has allowed China to acquire cheap gold to hedge the dollars they were accumulating. The projected world gold production decline when it is viewed without the fictitious Chinese output growth is shocking but totally in line with the fact that the Gold Cartel has suppressed the gold price below the cost of production for the last 15 years. The gold market action has recently changed dramatically. It is trading as if many big players have worked out what is really going on; that the end game is close. As more and more investors realize that there is very little gold available and the Cartel is desperately short, the price will rise to levels that will shock even the most staunchly bullish. The US Congress is debating whether to approve the sale of 400 t of IMF gold. This, if approved, will be spun by the Cartel controlled financial press as being very negative for gold. But remember that China probably produced 650 t less than what is reported over the last decade and they acquired 454 t more than reported. That is 1100 t that has not been accounted for. The IMF gold, if it has not already been disposed of, will be snapped up by a market that is hungry for more supply. The Chinese will be more than happy to buy it with their stash of ever more worthless paper. Strong Dollar? That would probably make a group of Chinese students laugh! Adrian Douglas June 2, 2009 www.marketforceanalysis.com Market Force Analysis is a unique analysis method which provides reliable indications of market turning points and when is a good time to enter, take some profits or exit a market. Subscribers receive bi-weekly bulletins on the markets to which they subscribe.

To: LoneClone who wrote (38104)	6/4/2009 11:43:55 AM
From: LoneClone	Read Replies (1) \| Respond to of 192834

Hathor's Midwest NorthEast Drill Hole # 116 Intersects 2.5 Metres of 70% U3O8 with Assays up to 84% U3O8 Thu Jun 4, 11:05 AM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2009) - Hathor Exploration Limited (HAT:TSX-V) is pleased to announce U3O8 assay results for a further 23 drill holes from the 2009 winter drill program on the Roughrider Zone at its 90%-owned Midwest NorthEast property, northern Saskatchewan. Twenty of these drill holes intersected uranium mineralization (using a 0.05 wt% U3O8 cut-off grade) and high-grade highlights of U3O8 assayed core-length intervals (i) from 7 of these include: DDH From To Interval(i) U3O8 GT(ii) Maximum Grade (m) (m) (m) (wt%) (U3 O8 wt%) MWNE-09-116 241.5 254.5 13.0 18.12 235.54 84.20 including 247.5 250.0 2.5 70.34 MWNE-09-110C 237.0 253.0 16.0 4.96 79.35 34.10 including 247.5 252.0 4.5 16.13 MWNE-09-88 237.0 247.0 10.0 5.68 56.83 24.60 including 241.0 243.5 2.5 19.30 MWNE-09-102 241.0 253.0 12.0 4.91 58.89 22.30 including 244.5 251.0 6.5 8.03 MWNE-09-113 230.5 249.5 19.0 2.49 47.22 22.40 including 242.5 244.0 1.5 7.12 MWNE-09-113 255.0 260.0 5.0 0.59 2.95 0.93 MWNE-09-113 262.5 265.0 2.5 6.64 16.60 31.70 including 263.0 263.5 0.5 31.70 MWNE-09-89 231.5 244.5 13.0 2.63 34.24 33.80 including 235.0 236.5 1.5 16.88 MWNE-09-115 210.0 219.5 9.5 0.60 5.71 2.28 including 212.0 213.5 1.5 1.52 MWNE-09-115 222.5 228.5 6.0 4.42 26.54 12.70 including 222.5 225.0 2.5 7.53 (i) All intersections are down-hole, core-length intervals and true thickness of mineralization is yet to be determined. (ii) "GT" or "Grade x Thickness" is the product of the Interval and the U3O8 Mineralized Grade for that Interval The maximum grade intersected in the drill holes reported here is 84.20 wt% U3O8 over 0.50m. Two repeat analyses of this interval returned values of 84.3 and 84.70 wt% U3O8. Dr. Alistair McCready, Hathor's Senior Project Geologist, said: "We knew that drill hole 116 was going to be impressive from the visual examination, the down hole gamma survey and the high density measurements of core samples (up to 7.6 g/cc). We were, however, not expecting it to return some of the highest grades of uranium ever reported for Athabasca Basin mineralization. This further confirms that the Roughrider Zone may represent the best ever discovery by a junior in the Athabasca Basin." The other 13 drill holes contained uranium mineralization ranging from 0.39% U3O8 over 3.15 metres to 5.22% U3O8 over 1.5 metres. Three drill holes were not mineralized. During the winter, Hathor completed 30,711 metres of diamond drilling in 89 drill holes from the ice of South McMahon Lake. A full listing of U3O8 assay results, detailed drill collar information (for the entire winter's drilling), select pictures of altered and uranium-mineralized drill core and scintillometer results (cps values) are available on Hathor's website: www.hathor.ca. The cps values reported on drill core still to be assayed, from holes on the southwest and northeast sides of the mineralized zone, indicate that the mineralization is open to further extensions along strike. The successful 2009 winter drill program has: - Demonstrated good continuity of the Roughrider Zone mineralization - Identified significant strike and width extensions of the original Roughrider Zone - Demonstrated that the Roughrider Zone remains open in all dimensions - Discovered zones of high radioactivity at (+/- 5m) the unconformity - Intersected the highest grade assay reported from the project to date, to the southwest a 30m step-out, hole DDH MWNE-09-116, which falls slightly short of the record grades from the McArthur River mine, but higher than the best assays reported from the Cigar Lake mine. - Provided evidence for new basement-hosted zones A summer drill program is planned to commence shortly, utilizing both barge-based and a land-based drill rigs. These will be used to: further test for strike-length extensions and for potential sandstone-hosted mineralization occurring above the basal unconformity; continue in-fill drilling; and provide material for detailed metallurgical testing. Hathor is fully-funded to carry out this summer work and will be releasing assay data from the remaining drill holes of the winter campaign as they are received and verified. Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample. All repeat samples had good reproducibility, including those in the very high grade assay ranges. The very high grade samples were subjected to multiple check analyses. All samples are being analyzed for a suite of other elements including nickel, cobalt, copper and lead. Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property. Benjamin Ainsworth, P.Eng., a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Hathor Exploration Limited Stephen G. Stanley, Director To view the map accompanying this release please click on the following link: media3.marketwire.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts Tony Nunziata Hathor Exploration Limited 403-560-7040 J.J. Jennex Hathor Exploration Limited 604-684-6707 www.hathor.ca