Colossus Resources Announces Debt Settlement and Non-Brokered Private Placement Financing

Vancouver, British Columbia–(Newsfile Corp. – August 29, 2025) – Colossus Resources Corp. (TSXV: CLUS) (“Colossus” or the “Company“) announces today that it has entered into debt settlement agreements with various creditors to settle an aggregate amount of CDN$248,990.50 in outstanding debt relating to loans, management fees, and certain other outstanding obligations, through the issuance of an aggregate of 4,979,810 common shares of Colossus (the “Common Shares“) at a deemed price of CDN$0.05 per Common Share (the “Shares for Debt Transaction“).

Closing of the Shares for Debt Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange (“TSXV”). The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four months and one day following the date of issuance, in accordance with applicable securities laws and TSXV policies.

The Company also announces a non-brokered private placement financing of up to 1,800,000 units (the “Units“) of securities at a price of CDN$0.05 per Unit for aggregate gross proceeds of up to CDN$90,000 (the “Financing“) for general working capital. Each Unit will be comprised of one (1) common share and one-half (1/2) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of CDN$0.10 for a period of two (2) years from closing of the Financing. The expiry date of the warrants may be accelerated if the Company’s common shares trade at or above $0.20 for 20 consecutive trading days following the expiry of the four month hold period.

About Colossus Resources Corp.

Colossus Resources is a relatively young junior mineral exploration company focused on maximizing shareholder value through the acquisition, discovery and advancement of high-quality copper — gold projects.

ON BEHALF OF THE BOARD OF DIRECTORS
“Charalambos (Harry) Katevatis”
President & CEO
Colossus Resources Corp.

Neither 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.

Forward-Looking Statements

Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264568