Colt Resources Inc. (TSX-V: GTP) (OTCQX: COLTF) Recent Conference Call Points to Colt’s Strengths

Colt Resources Inc. (TSX-V: GTP) (OTCQX: COLTF) Recent Conference Call Points to Colt’s Strengths

Colt Resources Inc. (TSX-V: GTP) (FRA: P01.F) (OTCQX: COLTF) is the largest lease holder of mineral concessions in Portugal.

Colt has assembled the largest mineral lease portfolio including gold, tungsten and base metals in Portugal.

Colt’s recent investor conference call indicated the following:

Colt Resources is confident in the experience level of management and operational team.

As of the last filing Colt Resources has 98,000,000 shares outstanding and $10 million in cash. Additionally, the company’s real estate assets include a Port Vineyard valued in excess of $10 million, located above ground at the Company’s Tungsten project in Portugal.

Colt Resources is the largest holder of mineral claims in Portugal.

Two Key Projects Focus were the focus of the call:

  • Tabuaço (São Pedro das Águias) Tungsten Project
  • Boa Fé / Montemor – Advanced Stage Gold Projects – 100 percent control

Tabuaço (São Pedro das Águias) Tungsten Project: A 43-101 regarding the tungsten project was published November 7, 2011, and provided strong beginning for project. Colt Resources intends to fast track the tungsten project and placing it in production in the next two to three years. The Company anticipates that the tungsten project is likely to come on stream at a time when world tungsten supplies have been reduced coupled with increasing world demand.

Colt has four drill rigs on site.  The vineyard above ground on the surface of the tungsten project was acquired with the intention of continuing vineyard cultivation for port wine, co-existing with the tungsten project.

Boa Fé / Montemor – Advanced Stage Gold Projects: A 43-101 SRK Report was published in 2011, indicating over 40 km of a shear zone. Colt was recently granted a mining license for the project, receiving the final permit and one hundred percent control of the asset. The project includes over thirty years of exploration. The historical focus of exploration has been a near surface exploration of roughly the first 100 meters. While, the previous operators focused on the surface grids, Colt Resources is excited about the upside potential of exploring the deeper grids and their potential of the Montemor Gold Project as they explore and develop the asset. Colt aims to develop a 43-101 within the first half of 2012. Starting in January Colt anticipate a steady stream of growth based on the gold project.;

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”)

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

Colt Resources Portuguese Projects and Concessions

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


Nikolas Perrault
President & CEO
Colt Resources Inc.
Tel: +351916150926
Fax: +15146356100

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

Renmark Financial Communications Inc.
Florence Liberski:
Bettina Filippone:
Tel.: (514) 939-3989 or (416) 644-2020

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 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.

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 or any content on this web site.

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