Colt Resources Announces Completion of 8,7 My $ Funding announced

Colt Resources Announces Completion of 8,7 My $ Funding announced

03.05.2012 MONTREAL – Colt Resources Inc. (“Colt” or the “Business”) (TSXV: GTP) (FROM: P01) (OTCQX: COLTF) is pleased to announce, that the previously announced "bought deal"- Private placement of 10.000.000 Ordinary shares (the “Shares”) the Company at a price of $ 0,50 per share for gross proceeds of 5.000.000 $ (the “Offer”) has completed. The offer was supported by a consortium of signatories, led by TD Securities Inc., completed, and includes Desjardins Securities Inc.. and Versant Partners Inc.. (together “Signatory”).

Under the terms of the Subscription Agreement between the Company and the signatories of the signers, the company has an additional 6% Cash paid in commissions and granted compensation options, The signatories of purchase of a total 800.000 Shares at any time prior to the 2. November 2013 allow.

Parallel to the offer, Also today, the company wants to complete the previously announced, non-brokered private placement of 7.400.000 Shares to European investors at a price of $ 0,50 per share for gross proceeds of 3.700.000 $ (the “Non-brokered private placement”) announce. The total gross proceeds from the offering and the non-brokered private placement is 8.700.000 $. A majority of the non-brokered private placement was subscribed to by one of the leading industrial conglomerates in Portugal. In connection with the non-brokered private placement, the company has decided, a certain finders 6% To pay cash commission and warrants to grant compensation, which the finder is entitled to a purchase-total 440.000 Shares at any time prior to the 2. More 2013 have.

The net proceeds from the offering and the non-brokered private placement will be used for exploration and development projects of the company, more specifically, to the current drilling program at the Boa Fe Montemor gold project to enlarge the company and to expedite, and for general working capital.

The issued and sold shares in the offer and the non-brokered private placement are subject to a four month hold period under applicable Canadian securities laws.

The shares are not registered under the U.S. Securities Act of 1933 , as amended, and may not be registered in the United States absent registration or an applicable exemption from registration offered or sold.

This press release does not constitute an offer to sell nor a solicitation of an offer to buy the securities in the United States. The securities have not been and will not under the United States Securities Act of 1933 , as amended, and may not be registered in the United States without an exemption from such registration offered or sold.

Über Colt Resources Inc.

Colt Resources Inc. is a Canadian junior exploration company engaged in acquiring, Exploration and development of mineral properties with an emphasis on tungsten and gold. It is currently focused on advanced exploration projects in Portugal, where it is the largest holder of mineral properties.

The company's shares are traded on the TSX-V – Symbol: GTP, der OTCQX – Symbol: COLTF.PK and at the Frankfurt Stock Exchange – Symbol: P01 gehandelt.

For further information please contact:

Nikolas Perrault,
President & CEO
Colt Resources Inc.
Such: +351-219-119813
Fax: (514) 843-7704

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

Declan Costelloe CEng,
Executive Vice President and COO
Colt Resources Inc.
Such: +351-219-119813
Fax: (514) 843-7704

Natalia Sokolova
Vice President, Investor Relations
Colt Resources Inc.
Such: (917) 574-2312
Fax: (514) 843-7704

FORWARD-LOOKING STATEMENTS: This press release may contain forward-looking statements, d.h. Statements about future plans, Expenditure, Objectives and results of Colt Resources Inc.. (the "Company") and assumptions based thereon. Forward-looking statements are identified by words such as "may", "Would", "May", "Will", "Likely", "Believe", "Expect", "Anticipate", "Intend", "Plan", „(in )"estimates and similar expressions and verbs, including its negated form. Forward-looking statements are not guarantees of future performance and do not necessarily represent accurate information about, whether, when and how these future results will be achieved. Forward-looking statements are based on the current state of available information and / or management's expectations regarding future events. They involve known and unknown risks and uncertainties and are influenced by unpredictable factors, many of which are beyond the control of the company. Such risks, Uncertainties and factors are in the "Revised Annual Information Form" from the company 20. April 2011 (available at described "Risk Factors”, wherein they are not limited to these. All of these risks, Uncertainties and factors could cause, that the actual events and results from those projected in the forward-looking statements to differ materially. The Company does not intend, and undertakes not to, forward-looking statements in this press release new information to update accordingly, unless, This is necessary because of the law.

Weder die TSX Venture Exchange noch ihr „Regulation Services Provider“ (like this in the "Policies" of the TSX Venture Exchange is defined) take responsibility for the adequacy or the accuracy of this release.

For the correctness of the translation is any liability assumed! Please note original English message!

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