Colt Resources Inc. (OTCQX: COLTF) (TSX-V: GTP)

Colt Resources Inc.  (TSX-V: GTP) (OTCQX: COLTF) (FRA: P01) is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is the largest lease holder of mineral concessions in the country.

Colt has assembled the largest mineral lease portfolio including gold, tungsten and base metals in Portugal. Portugal has a long tradition of mining history and historically was a major source of the riches that financed the Roman Empire. Colt enjoys an excellent working relationship with the Portuguese Government and looks forward to the development of several mines in this EU member country.

Colt Resources Strong Investor Base

• Management – 6%
• HNW European – 25%
• North American Retail – 35%
• Asian Institution 5%
• European Retail – 16%
• Non-European Retail 13%

The Company operates two wholly-owned subsidiaries in Portugal:

• Eurocolt Resources Unipessoal Lda. (“Eurocolt”)
• Aurmont Resources Unipessoal Lda. (“Aurmont”)

Formal Ratification of Colt-AIOC Joint Venture

Colt-AIOC Joint Venture application for an Experimental Mining License on its 47 Km2 Boa Fé gold project has been ratified. Colt Resources has the equipment and experienced personnel on site.

Additionally, the Direcção-Geral de Energia e Geologia, a division of the Portuguese Ministry of Economy and Innovation, formally awarded the larger Montemor Gold Exploration License.

The Company has proceeded with the final payment of €125,000 and the issuance of three million restricted shares increasing the ownership and control of the Boa Fé gold project from 51% to 100%.

The Montemor Gold Project and Montemor Regional Concession

The Montemor Gold Project and Montemor Regional Concession are located some 100 km east of the Lisbon, the capital city, near the towns of Montemor-o-Novo and Évora, in the Alentejo region of southern Portugal.

Boa Fé / Montemor Projects Advanced Stage Gold Projects

• Boa Fé / Montemor gold projects are at an advanced development stage with potential for near term production
• Located 100 km east of Lisbon
• Near surface gold deposits located along a major shear zone: > 30 km long
• Historical work includes over 500 trenches and over 1,000 drill holes
• Boa Fé / Montemor are prospective areas containing historical resource estimates that range from >150koz to 550koz Au in five separate high grade near surface deposits, as defined over the period 1991-2008
• Readily Recoverable Gold: Initial metallurgical testwork has demonstrated that gold is readily
  recoverable using a combination of conventional methods (gravity, flotation and cyanide technologies)
• Resource Expansion Potential Based on SRK’s estimates, potential exists to expand historical resource to a range of 8-12Mt, grading an average of 2.5-3.0 g/t Au above a potentially economic cut-off, contained in a series of small open pit and underground deposits

Boa Fé Concession – Two Drilling Rigs in Place by Mid-November

Colt anticipates initially having two drill rigs in operation on the Boa Fé concession by mid-November.

Over the next month the Company will commence:

• An aggressive resource definition and mine development program at Boa Fé
• An extensive regional exploration program (Montemor Concession) over the remaining parts of the shear zone which historically have received very little attention

The Boa Fé property has been explored intermittently during the last 20 years during which time significant funds have been spent on geochemistry, trenching and drilling. This has resulted in an extensive historical database which was acquired as part of the transaction.

Boa Fé Gold Project 3D Drilling and Trenching Results

Boa Fé/Montemor Advanced Stage Gold Project
Santa Margarid do Sado Base Metal Project

• Located along a major shear zone that is greater than 30 km long
• Several high grade outcropping gold deposits identified with significant untested strike and depth potential
• Bulk of historical work focused on near surface zones of mineralization

Historical Work

• Rio Tinto – 1991 – Environmental base line studies
• RioFinex – 1991- Resource Estimate
• Iberian Resources 2004 – Resource Estimates
• Iberian Resources 2005 – Resource Estimates
• Iberian Resources -2006 – Metallurgical testing and open pit design
• Tamayan Resources – 2007 – Resource estimates
• Tamayan Resources – 2008 – Resource Estimates, metallurgical testing and open pit design

Regional Setting

Boa Fé / Montemor Concession

The Boa Fé Shear zone is located approximately 95km east of Lisbon and is known to extend over 30Kms. Gold mineralization was identified during the 1950’s but remained largely overlooked until the 1980’s when several exploration companies including RTZ and Riofinex began to test the potential of the property. Low gold prices during the 1990’s forced those companies to abandon the property and the significant amount of data that had been collected.

The Boa Fé / Montemor exploration concession contains historical resource estimates that range from >150koz to 550koz Au, as defined over the period 1991-2008, comprising several gold deposits.

The exploration potential exists to expand this historical resource to a range of 8-12Mt, grading an average of 2.5-3.0 g/t Au grade above potentially economic cut-off, contained in a series of small open pit and underground deposits.

History of Exploration

During the 2000’s, several junior companies recommenced near surface exploration for gold. The application process to commence mining of several high grade, near surface gold deposits was stalled in 2008 as a result of the bankruptcy of Tamaya Resources, the most recent explorer of the project. It should be noted that the most recent work done at Boa Fé was in the mid 2000’s, a period during which gold was trading under $700 per ounce.

The current license area (Boa Fé experimental mining license, or Boa Fé license area) encompasses 47km2 ,with an additional 728km2 of exploration concession (Boa Fé / Montemor exploration concession) staked surrounding the Boa Fé license area.

Initial metallurgical testwork has demonstrated that gold is readily recoverable from Boa Fé / Montemor mineralized material using a combination of gravity, flotation and cyanidation technologies.

The much larger exploration concession currently under application appears to hold significant potential, given the postulated extension of the currently defined Boa Fé shear zone in the experimental mining license area.

Tabuaço (São Pedro das Águias) Tungsten Project – Armamar‐Meda Concession

Colt Resources acquired 140 hectares at its Tabuaço (São Pedro das Águias) tungsten project, located in the company’s Armamar‐Meda concession in northern Portugal. The acquisition of these surface rights not only provides Colt with unhindered access to the ground for exploration but more importantly, it is a crucial step for the next stages of the development of the Company’s Tabuaço tungsten project.

Tabuaço Near Term Objectives

• Definition Drilling
• Metallurgical Testwork
• Resource Estimation
• Infill Drilling
• Geotechnical Drilling
• Metallurgical Drilling
• Pre-Feasibility

The final analytical results for nine holes from its ongoing drilling campaign at its Tabuaço (São Pedro das Águias) tungsten project, located in the wholly owned Armamar‐Meda concession in northern Portugal, continue to confirm that the deposit model is robust and that the predicted grades and thicknesses are being achieved.

These results are part of an ongoing drilling program designed to provide data on the internal grade and structural consistency of the deposit and to test for lateral extensions of several richly mineralized skarn horizons.

Colt’s current drilling program is designed to confirm and expand the historical, non NI 43‐101 compliant resource estimate of 1 million tonnes grading 0.87% WO3 (SPE‐BRGM JV, early 1980’s). These, and previously reported, results indicate that the deposit is open in all directions and that grades and thicknesses are increasing as one steps away from the historical resource zone.

Four diamond drill rigs are currently in operation on the deposit so as to increase data flow as the company moves towards the preparation and delivery of an initial NI 43-101 resource estimate later this year

Tungsten Demand

• China hosts nearly two-thirds of the world’s production reserves and accounts for over three-quarters of global production, but has become a net importer in recent years to satisfy domestic demand
• Very few western mines exist often with contractual or ownership ties to consumers
• Additional western concentrate capacity is required to guarantee access to raw materials
• Despite modern applications, overall market size is restricted

Colt Resources Projects and Concessions

Portuguese Properties

1. Penedono Gold Property Concession

Penedono Gold Concession with Extent of Known Gold Bearing Zones over 16 KM

The Penedono Concession consists of 51.231km2, which represents a reduction from the original concession area as an annual requirement under Portuguese mining law. Colt has subsequently been successful in negotiating an extension of the concession for an additional 3 years and has increased the size of the concession to 102.471 km2.

• Geological Model: Intrusion Related Gold Systems – similar to Alaska and Yukon
• 16 km long belt of widespread areas and clusters of gold-bearing quartz vein systems
• Historic gold mine at Santo Antonio: mined by the Romans at surface; mined underground in the 1950s, when gold was fixed at US $35 /oz, minimal modern exploration
• Potential for deposits of: Underground high-grade gold veins and open pit lower-grade gold zones
• Large gold-in-soil anomalies remain untested and vast areas have not been covered by soil surveys

As at December 31, 2010 the Company had invested $1.8 million ($1.5 million as at March 31, 2010) with respect to its Penedono Concession and Exploration License.

2. Armamar-Meda Tungsten Concession

The Armamar Meda Concession consists of 436.81 km2 which in turn is partially surrounded by the Moimenta-Almendra concession consisting of 566.58 km2.

As at December 31, 2010, the Company has invested $845,473 ($530,623 as at March 31, 2010) with respect to its Armamar Meda Concession and Exploration License.

Northern Concessions

3. Moimenta-Almendra Base and Precious Metal Concession

The Moimenta-Almendra Property which has a surface area of approximately 566 km2 and which is partially contiguous to the Company’s Penedono and Armamar-Meda Exploration Concessions (the “Moimenta-Almendra Exploration Licence”).

As at December 31, 2010, the Company has invested $211,037 ($141,263 as at March 31, 2010).

4. Santa Margarida do Sado VMS Concession

The Santa Margarida do Sado concession consists of 360.46 km2 of prospective ground situated on the western extension of the Iberian Pyrite Belt, where the favourable basement geology is concealed under Tertiary cover sediments of the Lower Sado Basin. The IPB extends for more than 250 km from southern Spain through southern Portugal and is the host for numerous volcanogenic massive sulphide deposits in both countries, including several giant deposits with (greater than) 100 Mt total geologic resources, such as Rio Tinto and Tharsis in Spain, and Aljustrel and Neves-Corvo in Portugal.

 

Santa Margarida do Sado

As at December 31, 2010, the Company has invested $124,934 ($33,317 for March 31, 2010) with respect to its Santa Margarida do Sado Concession and Exploration License.

Colt Resources Is the Largest Holder of Mineral Exploration Rights in Portugal

Portugal: Excellent Mining Environment

• Access to the area is excellent
• No weather impediments to operating a mine year round
• Abundant power and close to the Portuguese national grid

Portugal Advantages

• Mining friendly country with exceptional mineral potential, remains largely overlooked and underexplored

• Well-developed modern infrastructure; properties are close to roads, water, power and port facilities

• Available, experienced labor force

• Excellent government relationships at all levels

National Instrument 43-101 Technical Reports

The Company’s diamond drilling and property evaluation / exploration programs are under the supervision of J.W. Murton, P. Eng., a qualified person as defined by National Instrument 43-101. Mr. J.W. Murton is a director of Colt.

NI 43-101 Penedono Exploration Concession and Armamar-Meda Exploration Concession

During the nine-month period ended December 31, 2010, the Company commissioned Mr. Warner Gruenwald, P. Geo of Geoquest Consulting Ltd. to prepare for the Company a technical report compliant with NI 43-101 in respect to the Penedono Exploration Concession and the Armamar-Meda Exploration Concession. Mr. Warner Gruenwald is a qualified person as defined by National Instrument 43-101, and is independent of the Company.

NI 43-101 Tungsten Project – Armamar‐Meda

SRK Exploration and GEOLOG Tabuaço (São Pedro das Águias)

Colt has engaged SRK Consulting (U.S.) Inc. for the preparation of an initial NI 43-101 resource estimate for the deposit which will be published later this year. This Report is based upon the final analytical results for five holes from its ongoing drilling campaign at its Tabuaço (São Pedro das Águias) tungsten project, located in the Company’s wholly owned Armamar‐Meda concession in northern Portugal.

SRK Consulting (U.S.) Inc. has been awarded a broad mandate to provide overall technical assistance to Colt in Portugal and will be producing several NI 43‐101 compliant reports as projects progress (see: January 18, 2011 press release). Jeffrey Volk, MSc, CPG, FAusIMM, of SRK Consulting (U.S.) Inc., is the independent qualified person, as defined in NI 43‐101, for Colt’s projects in Portugal.

The Company will continue with an aggressive drilling campaign designed not only to expand on the initial resource base through additional step out holes but also to gain better geological, geotechnical and metallurgical knowledge through infill drilling.

In this second phase of drilling, high priority regional targets identified through field prospecting will also be tested. Four diamond rigs are currently in operation on the deposit. COLT’s field exploration programs in Portugal have been executed since 2007 by GEOLOG – Gabinete de Geociências Lda, under direction and supervision of COLT management.

GEOLOG is an independent geological consultancy based in Lisbon, Portugal. Founded in 1999, the firm is particularly dedicated to consulting and providing geological services to mining and quarrying corporations, with special emphasis on mineral exploration. Its staff includes a number of skilled geologists, prospectors and other technical people, with an extensive record of experience in the international mining industry.

The firm has been involved in a number of projects for several client mining companies, both domestic and international, with particular focus on Portugal and Southern Africa.

Management Team

Nikolas Perrault, CFA, President & CEO

Mr. Nikolas Perrault is a Chartered Financial Analyst who has spent the first 15 years of his career working as an investment executive with some of Canada’s largest institutions, including National Bank, Merrill-Lynch, CIBC and Scotia Capital. He is President, CEO and Director of Colt Resources Inc., a Canadian-based junior exploration company engaged in the acquiring, exploring and developing mineral properties with an emphasis on gold and tungsten. His focus throughout his career has been on small cap resource companies. His work has focused on small companies in the energy and resource sectors in Canada and abroad, which has allowed him to develop an extensive international network. In May 2007, he founded a management consulting company providing strategic advice to early stage energy and resource companies. Mr. Perrault is also a director of one other public company, namely Calvalley Petroleum Inc. He was a director of RTN Stealth Software Inc. from 2010 to 2011 (now Quantitative Alpha Trading) and Ona Power Corp (formerly Ona Energy Inc.) from 2009 to 2010. He is a member of the Advisory Board of Quantitative Alpha Trading. Mr. Perrault is President of Twilight Capital Inc., which is registered as an exempt market dealer in Ontario. Mr. Perrault holds a Bachelor of Commerce and obtained his Chartered Financial Analyst designation in 1997.

Aurelio Useche, MBA, CMA, Chief Financial Officer

Mr. Useche has held several senior management positions in both Private and Publicly traded corporations including CEO, COO, General Manager and Vice-President, Operations. Mr. Useche has been involved in several entrepreneurial ventures and serves on the board of several private companies and non-for-profit organizations. Mr. Useche holds a BA, Economics from Concordia University (1992), an MBA Degree from Queens University School of Business (2001) and holds the professional designation CMA- Certified Management Accountant (2003).

Declan Costelloe, CEng., Executive Vice President and Chief Operating Officer

Mr. Declan Costelloe serves as President of Celtic Mining, Ltd., an independent mining consulting firm. Mr. Costelloe is a chartered engineer (UK Engineering Council) and a mining geologist with over 20 years experience. During 2007, Mr. Costelloe served as Investment Manager with the Goldfish Fund, a Denver based private gold equity investment group. From 2003 to 2006, Mr. Costelloe served as an investment manager with Veneroso Associates Gold Advisors (“VAGA”), an investment company focused on the gold industry, prior to which he served as research director of VAGA from 2000 to 2003. Mr. Costelloe holds a B.Sc. in geology from University College, Galway, and a B.Sc. in mining geology from the University of Wales College Cardiff. Mr. Costelloe also currently serves as a director of U.S. Gold Corporation (TSX:UXG), Bravo Gold Corp (TSXV:BVG), and Alexandria Minerals Corporation (TSXV:AZX)

João Carlos Gaspar de Sousa – Vice President, Operations (Portugal)

Joao comes to Colt from having worked as the senior project geologist of Genius Mineira, Lda., an Angolan company. He is a Senior Exploration Geologist with 28 years of experience including 5 years as the Country Manager for Iberian Resources Portugal (the former owner of Colt’s Montemor project), more than 2 years with Empresa de Desenvolvimento Mineiro, S.A. and its subsidiary, 13 years with Rio Tinto and 5 years with Lundin Mining Corporation (EuroZinc Mining Corp.) which owns the “Neves-Corvo” copper mine in Portugal. Mr. Gaspar de Sousa has a Geological degree from Faculdade de Ciências de Lisboa.

David A. Johnson, Corporate Secretary and General Counsel

David A. Johnson is an attorney and trade-mark agent with his own firm based in Montreal, Quebec, Canada. Mr. Johnson specializes in corporate law, commercial transactions, trade-marks and copyright law. He also practises in several industries including mining, software, energy, manufacturing, clean tech, transportation and entertainment. His international legal experience includes work in France, Portugal, Germany, Albania, the United States of America and Israel. Mr. Johnson has several years’ experience at the senior management level in a variety of companies and not for profit organizations. He is presently a director of Genoil Inc. (TSX-V. GNO), Corporate Secretary of Sofame Inc. (TSX-V.SOF) and a director and the Secretary-Treasurer of the International Law Association, Canadian Branch, a registered charity. Mr. Johnson holds a Bachelor of Arts (Hons.) from Queen’s University, a Master of Urban Planning, Bachelor of Common Law (L.L.B.) and a Bachelor of Civil Law (B.C.L.) from McGill University.

Jorge Valente, President of Eurocolt, Wholly-owned subsidiary of Colt Resources

Jorge Valente is a Portuguese citizen and resides in Brazil. Mr Valente has over 40 years of extensive experience in the mining industry. He is a mining engineer (graduated from IST, Lisbon, 1970), specializing in Geomathematics (mineral resources and ore reserves estimation and mine planning). He also teaches post-graduate courses at the School of Mines of UFOP (Ouro Preto Federal University), and is a certified CP (“competent person”, by SME – USA). He is the author of two books and many articles dealing with subjects of his specialty, some of which havebeen published in English.

Exploration Team

J. Wayne Murton, Director, P.Eng.

Mr. Murton is a geological and mining consultant and the President of J.W.Murton and Associates, based in Kelowna, B.C. He is a registered Geological Engineer with the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Murton has been active in the mining industry for over 40 years with junior companies as well as major mining companies. He has managed and directed exploration programs for base metals, uranium and precious metals and has managed and directed underground mine development as well as production from gold, silver and copper mines. He has been involved in projects ranging from preliminary exploration to mine management throughout North America, South America and West Africa. He has authored numerous property reports, qualifying and NI 43-101 reports as a QP (Qualified Person).

Filipe Faria

Mr. Faria is a geologist with thirty years experience in mineral exploration. He is a partner and the principal consulting geologist of GEOLOG – Gabinete de Geociências Lda, a geological consultancy based in Lisbon, Portugal. Over the course of his career, he has been responsible of numerous geological and mineral exploration/evaluation projects for a number of domestic and international companies focusing in Western Europe and Southern Africa. Fluent in Portuguese and English, Mr. Faria has been a member of the Portuguese Association of Geologists since 1982 and the Geological Society of Portugal since 1978.

Board of Directors & Advisory Board Board of Directors

Nikolas Perrault, CFA, President & CEO, Director (since December 2008)

Member of Audit Committee

Mr. Nikolas Perrault is a Chartered Financial Analyst who has spent the first 15 years of his career working as an investment executive with some of Canada’s largest institutions, including National Bank, Merrill-Lynch, CIBC and Scotia Capital. He is President, CEO and Director of Colt Resources Inc., a Canadian-based junior exploration company engaged in the acquiring, exploring and developing mineral properties with an emphasis on gold and tungsten. His focus throughout his career has been on small cap resource companies. His work has focused on small companies in the energy and resource sectors in Canada and abroad, which has allowed him to develop an extensive international network. In May 2007, he founded a management consulting company providing strategic advice to early stage energy and resource companies. Mr. Perrault is also a director of one other public company, namely Calvalley Petroleum Inc. He was a director of RTN Stealth Software Inc. from 2010 to 2011 (now Quantitative Alpha Trading) and Ona Power Corp (formerly Ona Energy Inc.) from 2009 to 2010. He is a member of the Advisory Board of Quantitative Alpha Trading. Mr. Perrault is President of Twilight Capital Inc., which is registered as an exempt market dealer in Ontario. Mr. Perrault holds a Bachelor of Commerce and obtained his Chartered Financial Analyst designation in 1997.

Aurelio Useche, MBA, CMA, Chief Financial Officer, Director (since October 2007)

Mr. Useche has held several senior management positions in both Private and Publicly traded corporations including CEO, COO, General Manager and Vice-President, Operations. Mr. Useche has been involved in several entrepreneurial ventures and serves on the board of several private companies and non-for-profit organizations. Mr. Useche holds a BA, Economics from Concordia University (1992), an MBA Degree from Queens University School of Business (2001) and holds the professional designation CMA- Certified Management Accountant (2003).

David A. Johnson, Corporate Secretary and General Counsel, Director (since July 2009)

David A. Johnson is an attorney and trade-mark agent with his own firm based in Montreal, Quebec, Canada. Mr. Johnson specializes in corporate law, commercial transactions, trade-marks and copyright law. He also practises in several industries including mining, software, energy, manufacturing, clean tech, transportation and entertainment. His international legal experience includes work in France, Portugal, Germany, Albania, the United States of America and Israel. Mr. Johnson has several years’ experience at the senior management level in a variety of companies and not for profit organizations. He is presently a director of Genoil Inc. (TSX-V. GNO), Corporate Secretary of Sofame Inc. (TSX-V.SOF) and a director and the Secretary-Treasurer of the International Law Association, Canadian Branch, a registered charity. Mr. Johnson holds a Bachelor of Arts (Hons.) from Queen’s University, a Master of Urban Planning, Bachelor of Common Law (L.L.B.) and a Bachelor of Civil Law (B.C.L.) from McGill University.

James Ladner, Director (since February 2010)

Mr. Ladner is a financial consultant in Zurich, Switzerland and a professional company director. He graduated in economics and business administration, majoring in auditing, from the University of St.Gallen, Switzerland. He served as a member of Swiss Admissions Commission – Listing on Swiss Stock Exchanges and as a member of the Swiss Capital Market Commission of the Swiss National Bank . Mr.Ladner was a founder and managing director of RP&C International, London/New York/Zurich and served as the non-executive chairman of Bank Austria (Switzerland) Ltd..Previously Mr. Ladner was an Executive Vice President of Coutts Bank (Switzerland) Ltd. and has served on the board of several other companies, funds and banks in Switzerland and abroad including The Royal Bank of Scotland AG, Interallianz Bank AG, Asahi Bank AG, F.Van Lanschot Bankiers (Switzerland) Ltd., Immofonds, Energy Capital Investment Co plc, Equator Exploration Ltd.,StrataGold Corporation, Pan Pacific Aggregates plc, Nevoro Inc., Colombia Gold plc, Porto Energy Corp. and Coastport Capital Inc.. He is presently a director of the following public companies: Oracle Energy Corp.(OEC.V), Royal Coal Corp.(RDA.V) and Ardent Mines Inc.(ADNT.OB).

Donald J.P. Ziraldo, C.M., LLD, Director (since June 2010) Member of Audit Committee

Mr. Ziraldo was a founding partner of Inniskillin and the owner of Ziraldo Estate Winery in Niagara on the Lake. He is also Founding Chairman of VQA: Vintners Quality Alliance and became the international ambassador for Canadian icewine around the globe. Donald’s board and advisory positions include Shaftesbury Films, Acadamie Du Vin Internationale, Zerofootprint, and RTN Stealth. In 2006, the Ministry of Agriculture, Food and Rural Affairs appointed him as Chairman of the Vineland Research & Innovation Center. In recognition of his achievements, including the arts, community service, and contributions to the university, he was awarded an Honorary Doctor of Laws Degree from Brock University in 1994. Donald is also a recipient of the Order of Ontario in 1993 and Order of Canada 1998.In 1999, the National Post Business Magazine chose him as one of the top twenty-five Canadian CEOs of the century. Donald is an author of several books, including Icewine: Extreme Winemaking.

Declan Costelloe, CEng., Director (since October 2010)

Mr. Declan Costelloe serves as President of Celtic Mining, Ltd., an independent mining consulting firm. Mr. Costelloe is a chartered engineer (UK Engineering Council) and a mining geologist with over 20 years experience. During 2007, Mr. Costelloe served as Investment Manager with the Goldfish Fund, a Denver based private gold equity investment group. From 2003 to 2006, Mr. Costelloe served as an investment manager with Veneroso Associates Gold Advisors (“VAGA”), an investment company focused on the gold industry, prior to which he served as research director of VAGA from 2000 to 2003. Mr. Costelloe holds a B.Sc. in geology from University College, Galway, and a B.Sc. in mining geology from the University of Wales College Cardiff. Mr. Costelloe also currently serves as a director of U.S. Gold Corporation (TSX:UXG), Bravo Gold Corp (TSXV:BVG), and Alexandria Minerals Corporation (TSXV:AZX)

Jean Depatie, Montreal, Quebec, Non-Executive Chairman

Mr. Depatie has over 35 years of national and international experience in economic geology. He has worked in over 15 countries and acted as a consultant for organizations such as the United Nations, the World Bank, the Commonwealth Secretariat, the Asian Development Bank, Banco Interamericano, the Canadian International Development Agency and Quebec’s Ministry of Natural Resources. Since 1981, he has been working as president or vice president or director of several mining companies such as: Cambiex, Novicourt, Noranda Group, Glamis Gold, Richmont Mines, Alexis Minerals, Louvem Mines, Sulliden Explorations,etc..Mr. Depatie sits on the board of directors of several mining companies including Consolidated Thompson Iron Mines inc and Trinity Mining A.G. of Switzerland. He is currently president of Decamines Inc. of Montreal.

Advisory Board

Arthur Lipper, Special Advisor to the Board

Arthur Lipper has been involved in the international financial industry for more than 50 years. He or the investment firms he has formed and Chaired have held memberships in the following exchanges; New York, American, most of the U.S. regional exchanges, COMEX and Bangkok. He has served as the advisor to the Bourse de Beyrouth and the Mid-America Commodities Exchange. The various mutual fund investment performance services he created have become industry standards. He filed with he U.S. SEC the first stock index fund and created a market in stock index futures in Amsterdam, before they were traded in the United States. He has also been active in assisting early stage companies and was the owner and Editor In Chief of Venture, The Magazine for Business Owners. He has authored five books on entrepreneurship and hundreds of articles. He has lectured at most of the significant business schools in the U.S. and serves as a Charter Trustee of the Kenan Institute of Private Enterprise, which is affiliated with the Kenan Flagler Business School of the University of North Carolina. He also is a member of the UCSD Board of Overseers.

One of the many companies he has assisted and advised is the privately owned Global Mining Inc., which he chairs and which, through a subsidiary, has a large gold bearing property in the state of Sonora, Mexico. He serves as the Chairman of the Berger Collection Educational Trust, at the Denver Art Museum, one of the largest collections of English art in the world. He served in the U.S. Marine Corp, and was awarded a Purple Heart. He lives in Del Mar, CA with his wife of 49 years.

John Redfern, Montreal, Quebec

Mr. Redfern spent many years with Canada Cement Lafarge and was Chairman of the Board of Lafarge Canada Inc. from 1984 – 2006. In addition to the Company’s Advisory Board, Mr. Redfern is also Chairman of the Advisory Board of Clean Water Resources.

Todd Hennis, Golden, Colorado

Mr. Hennis has 28 years experience in the mining and metals business. He graduated from Harvard College in 1982 with honors in economics, with emphasis on the natural resource industries. Mr. Hennis has extensive experience and background in the metal trading industry, both at the predecessor of Glencore International AG and at Cargill. His background and experience will be of great assistance to the Company as it readies for the rapid development of its advanced Montemor gold and Tabuaço tungsten projects in Portugal. Mr. Hennis is also President of Salem Minerals Inc., a privately owned resource company based in Colorado.

Kevin Ernst, New York, New York

Mr. Ernst is a Managing Partner at Grandview Capital Inc., a boutique investment banking firm delivering customized financial solutions to select emerging growth companies both public and private located worldwide. He brings more than 21 years of experience, including senior positions at industry-leading organizations (Merrill Lynch, UBS, NYSE Amex and the NYSE Euronext) Prior to joining Grandview Capital, Mr. Ernst spent 8 1/2 years at the NYSE Euronext/NYSE Amex as Managing Director, International Equity Division, where he focused on advising companies in Australia, Canada and China. Prior to joining NYSE Amex, he worked as a Vice President in Merrill Lynch’s Wealth Management Division for 12 years.

Nikolas Perrault
President & CEO
Colt Resources Inc.
Tel: +351916150926
Fax: +15146356100
info@coltresources.com

Declan Costelloe CEng,
Executive Vice President and COO
Colt Resources Inc.
Tel: (514) 317-6301
Fax: (514) 317-6302
info@coltresources.com

Renmark Financial Communications Inc.
Florence Liberski: fliberski@renmarkfinancial.com
Bettina Filippone: bfilippone@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com

FORWARD-LOOKING STATEMENTS:  This document does not constitute an offering document. Potential investors or shareholders should not rely on the information contained in this document before making an investment decision. Certain of the information contained in this presentation may contain “forward-looking information”. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Colt Resources Inc. (the “Company”), or the assumptions underlying any of the foregoing. In this presentation, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Company’s revised annual information form dated April 20, 2011 available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this presentation to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

SRK Consulting (U.S.) Inc. has been awarded a broad mandate to provide overall technical assistance to Colt in Portugal and will be producing several NI 43-101 compliant reports as projects progress (see: January 18, 2011 press release). Jeffrey Volk, MSc, CPG, FAusIMM, of SRK Consulting (U.S.) Inc., is the independent qualified person, as defined in NI 43-101, for Colt’s projects in Portugal.

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