Colt Resources Inc. Continues to intersect high grade gold on its Penedono
Gold Project in Northern Portugal

    
    Trading Symbols: GTP - (CNSX)
                     P01 - (FRANKFURT)
    

MONTREAL, April 13 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce results from three diamond drill holes completed on its 100% owned Penedono Gold Project in northern Portugal.

Colt has been conducting a diamond drilling program on the Santo Antonio vein system targeting veins 11 and 13. These quartz-sulphide veins have returned several high-grade gold intersections.

The latest significant results from three holes drilled on vein 13 are as follows:

    
    - Hole PPE 10-07 intersected 35.34 g/t Au over 0.75 m at depth 49.50 m to
      50.25 m: included in an interval of 15.31 g/t Au over 1.80 m.
    - Hole PPE 10-08 intersected 7.73 g/t Au over 0.60 m at depth 90.95 m to
      91.55 m: included in an interval 5.89 g/t Au over 1.23 m.
    - Hole PPE-10-04 intersected 0.08 m of arsenopyrite-rich vein material
      (in situ) after the drill passed through a 1.60 m wide mine stope. This
      thin vein material, in the wall of the stope, assayed 75.64 g/t Au.


    Previous Drilling Results
    -------------------------
    

Drill hole PPE 10-01 on vein 11 intersected massive arsenopyrite mineralization that returned 180.57 g/t Au over 0.38 m, at depth 30.33 m to 30.71 m. This represents the highest gold grade obtained to date on the Santo Antonio vein system.

Previous drilling on vein 11 also intersected several high grade gold intercepts. Hole PPE 08-04 intersected 5.89 g/t Au over 8.14 m: including 18.37 g/t Au over 1.54 m. Hole PPE 08-03 intersected 8.34 g/t Au over 6.74 m: including 24.05 g/t Au over 1.87 m, which included 15.04 g/t Au over 1.00 m and 34.40 g/t Au over 0.87 m.

The table below shows a compilation of current and previously released high grade gold intersections on veins 11 and 13.

    
                 Table of High Grade Results: Veins 11 and 13
                 --------------------------------------------

    -------------------------------------------------------------------------
                                                                   Hole
     Vein              High grade intervals*: Au g/t            number
    -------------------------------------------------------------------------
    vein 11    180.57 g/t over 0.38 m                            PPE 10-01
    -------------------------------------------------------------------------
    vein 13     87.04 g/t over 1.00 m   included in 39.67 g/t    PPE-08-02
                                        over 2.23 m
    -------------------------------------------------------------------------
    vein 13     75.64 g/t over 0.08 m   (left over vein from     PPE-10-04
                                         mined stope)
    -------------------------------------------------------------------------
    vein 13     35.34 g/t over 0.75 m   included in 15.31 g/t    PPE-10-07
                                        over 1.80 m
    -------------------------------------------------------------------------
    vein 11     34.40 g/t over 0.87 m   included in 14.59 g/t    PPE08-03
                                        over 3.15 m
    -------------------------------------------------------------------------
    vein 13     26.56 g/t over 0.56 m   included in 13.35 g/t    PPE08-01
                                        over 1.41 m
    -------------------------------------------------------------------------
    vein 11     18.37 g/t over 1.54 m   included in 9.21 g/t     PPE08-04
                                        over 4.14 m
    -------------------------------------------------------------------------
    *downhole intervals
    

With only limited and shallow drilling completed to date, Colt believes it has simply scratched the surface in its evaluation of the Santo Antonio high grade gold system. Veins at Santo Antonio remain open at depth. In addition, significant kilometre size gold geochemical anomalies, soil and stream sediments, are located to the southwest and northeast of Santo Antonio. These geochemical anomalies have not been fully evaluated. Colt will vigorously pursue this promising gold project with an expanded drill program later this year.

    
    About the Penedono Gold Project
    -------------------------------
    

The Penedono concession (102 km2) is located in the interior of northern Portugal some four hours driving time from the capital city of Lisbon and three hours by paved highway from the coastal city of Porto.

Several widespread clusters of gold bearing quartz- sulphide veins occur within a very broad zone that extends from the southeast edge of the concession through to the central western edge of the concession, a distance of 16 km. Vein styles vary from thin centimetre size sheeted veins to thick metre size veins; these vein styles display potential for low-grade open pit and high-grade underground style mineralization, respectively.

The best known vein cluster is the Santo Antonio vein system that consists of at least 13 known en echelon, northeast trending, steeply dipping, gold bearing quartz-sulphide veins that outcrop over an area of 1 km by 1.2 km. Several veins were mined at surface for gold during Roman times. In the 1950's, the Santo Antonio mine operated for several years; underground work was carried out on several veins. At Santo Antonio, veins occur within leucocratic "S Type" two-mica granite of Hercynian age. These veins range in width from tight fractures to three metres wide and are up to 700 m in strike length.

    
    Quality Assurance/Quality Control
    ---------------------------------
    

Sample intervals are reported as metres (m) downhole and as such do not represent true width. Core samples were sawed in half and one half was sampled at appropriate intervals. Samples were delivered by courier to OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. The gold assaying method used was standard Fire Assay with AA finish technique on a 50 gram aliquot.

Commercial standards and blanks are inserted by Colt with submitted samples to verify precision of results. The laboratory inserts its own standards and carries out repeat assays on every 10 samples to ensure internal lab quality control. The lab was instructed to carry out check assays and metallics screen assay on high grade gold samples.

The technical portions of this news release have been prepared and approved by Mario Justino, P.Geo., Vice President Exploration for Colt, Qualified Person as defined by National Instrument 43-101.

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes", "anticipates", "plans", "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in those forward-looking statements. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

%SEDAR: 00015107E

SOURCE Colt Resources Inc.

For further information: For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., (514) 394-0009, nperrault@coltresources.com; Aurelio Useche, Chief Financial Officer, Colt Resources Inc., (514) 394-0009, auseche@coltresources.com

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