Colt Resources Inc. Reports High Grade Gold and Tungsten Results from
Regional Exploration on its Concession in Northern Portugal

    
    Trading Symbols: GTP - (CNSX)
                     P01 - (FRANKFURT)
                     COLTF.PK - (USA OTC Pink Sheets)
    

MONTREAL, June 7 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is very pleased to provide an update on preliminary exploration work completed on regional gold and tungsten targets on its 100% owned Moimenta-Almendra concession located in northern Portugal.

Highlights of regional exploration work include the following:

    
    - Numao Au Prospect: New area of granite-hosted high grade gold
      mineralization discovered by Colt. Of 38 rock samples assayed, 18
      samples returned (greater than)0.5 g/t Au; 4 samples returned
      (greater than)10 g/t Au; peak value of 38.29 g/t Au. Preliminary soil
      survey indicates wide significant gold-in-soil anomaly with a peak
      value of 297 ppb Au.
    - Almendra W Prospect: Widespread tungsten skarn mineralization occurs
      over an area 0.5 km wide by 2.9 km long; scheelite-rich skarn horizons
      are generally thin, (less than)1.5 m, but high grade: 14 of 23 rock
      samples assayed (greater than)0.4% WO3; 5 assayed (greater than) 1.0%
      WO3; peak value of 1.80% WO3.
    - Muchoes W Prospect: New area of tungsten mineralization discovered by
      Colt. Scheelite bearing skarn horizons found, in outcrop and float,
      over a 6 km strike length; locally, skarn horizons are
      (greater than) 5 m wide. Of 26 rock samples sent for analysis, 18
      assayed (greater than)0.1% WO3, 7 samples (greater than) 0.50% WO3; and
      4 samples (greater than) 1.00% WO3: ranging from 1.14% to 2.90% WO3.
    - Santa Comba area: Old surface mining works follow shear zones and
      greisen alteration in granite over an area 150 m wide by
      (greater than) 800 m long. All 16 rock samples collected show anomalous
      values for either Ag, Cu, As or Bi. Maximum values are as follows:
      (greater than)200 ppm Ag; 5309 ppm Cu; 17795 ppm As; and 347 ppm Bi.
    - Tomadias area: An old artisanal Sn-W mine zone, samples from rock dumps
      show anomalous values in Ag, As, Cu, Pb, Sn and Zn. Maximum values are
      as follows: (greater than)200 ppm Ag; 15770 ppm As, 3709 ppm Cu, 5736
      ppm Pb, 4751 ppm Sn, and 1723 ppm Zn.
    

These results are very encouraging and indicative of the high geological potential of the Moimenta-Almendra concession. Additional exploration work is planned in the near future to test the most promising target areas.

    
    Moimenta-Almendra Concession: Regional Exploration Update
    ---------------------------------------------------------
    

Located in northern Portugal, some 100 km east of city of Porto, the Moimenta-Almendra concession covers an area of 566 km2. This concession surrounds the Penedono and Armamar-Meda concessions, which cover areas of 102 km2 and 466 km2, respectively. Together, these three concessions form an extensive contiguous block of 1,104 km2 in area (http://www.coltresources.com/en/presentation; Colt Resources Presentation: pages 7 and 8).

Numao Au Prospect

Located in the northeastern part of the Moimenta-Almendra concession, the area of Numao was chosen as a follow up to historical Au and As stream sediment anomalies. No mineral occurrences were known in the area prior to work carried out by Colt.

Preliminary prospecting and mapping work revealed granite hosted mineralization consisting of millimetric to centimetric quartz-arsenopyrite-scorodite-pyrite veins, locally with enclosing envelopes of arsenopyrite-bearing greisen or sericitized granite. Mineralization was observed over an area some 200 m by 400 m.

Of 39 outcrop and float rock samples collected, 13 samples assayed greater than 1 g/t Au; 7 samples greater than 5 g/t Au; and, 4 samples greater than 10 g/t Au: the latter ranging from 13.81 g/t to 38.29 g/t Au. High grade results, (greater than) 5 g/t Au, were mostly from grab samples of thin quartz-arsenopyrite-scorodite or thin semi-massive arsenopyrite-scorodite veinlets in altered granite.

    
       Table 1: Numao Au prospect rock sample assay result highlights.

           -------------------------------------------------------

            SAMPLE     ANOMALY      Au g/t    Ag ppm       As ppm

           -------------------------------------------------------
            205529      Numao        38.29      7.7        120495
           -------------------------------------------------------
            205533      Numao         7.70      5.9         36709
           -------------------------------------------------------
            205540      Numao        10.71     62.4        161934
           -------------------------------------------------------
            205543      Numao         6.81      0.7         36910
           -------------------------------------------------------
            205544      Numao        23.72      6.1        191679
           -------------------------------------------------------
            205545      Numao         6.62      2.2         39191
           -------------------------------------------------------
            205546      Numao        13.81      5.7         67308
           -------------------------------------------------------
    

A preliminary soil survey of very limited extent was run over the prospect: grid consisted of three 100 m spaced lines with stations at 25 m. Results from 72 soil samples shows a local anomaly, some 125 m to 225 m wide and 240 m long, with values (greater than)10 ppb Au and (greater than)80 ppm As, and peaks of 297 ppb Au and 1872 ppm As. Additional field work including a more extensive soil survey grid is planned.

Almendra W Prospect

Situated at the eastern limit of the Moimenta-Almendra concession, the Almendra area shows numerous W-Sn artisanal and small scale mining works from the early-mid 20th century. Known tungsten mineralization in the area consists of medium to coarse grained single to parallel bands of scheelite rich skarn horizons. These horizons are hosted within tightly folded metasedimentary rocks and outcrop over an area some 0.5 km wide by 2.9 km long. Locally, skarn horizons are centimetre size up to a metre wide and up to 50 to 100 m long: typically stretched and pinched out along strike. Preliminary mapping in the area has delineated a 30 m wide zone with numerous thin skarn bands that outcrop discontinuously for some 1.1 km.

Of 23 skarn grab samples collected, 19 samples returned assay results (greater than) 0.10% WO3; 12 samples (greater than) 0.50% WO3; and 5 samples (greater than) 1.00% WO3: ranging from 1.18% to 1.80% WO3.

    
      Table 2: Almendra W prospect rock sample assay result highlights.

                        -----------------------------

                         SAMPLE     ANOMALY     WO3%

                        -----------------------------
                         205516     Almendra    1.18
                        -----------------------------
                         205547     Almendra    1.42
                        -----------------------------
                         205549     Almendra    1.50
                        -----------------------------
                         205103     Almendra    1.80
                        -----------------------------
                         205105     Almendra    1.27
                        -----------------------------
    

Muchoes W Prospect

The Muchoes area is located some 5.5 km west of Almendra within the Moimenta-Almendra concession. There are known W-Sn mineral occurrences and historical W geochemical anomalies at the southeastern limit of the area. Northwest of these occurrences, rock samples mostly of medium to coarse grained weakly banded skarn outcrop and suboutcrop were collected over a total strike length of 6 km. Locally, skarn horizons are greater than 5 m wide. Of 26 skarn grab rock samples, 18 samples assayed (greater than) 0.10% WO3; 7 samples (greater than) 0.50% WO3; and 4 samples (greater than) 1.00% WO3: ranging from 1.14% to 2.90% WO3.

    
       Table 3: Muchoes W prospect rock sample assay result highlights.

                        -----------------------------

                         SAMPLE     ANOMALY     WO3%

                        -----------------------------
                         205117     Muchoes     0.80
                        -----------------------------
                         205119     Muchoes     0.90
                        -----------------------------
                         205125     Muchoes     1.14
                        -----------------------------
                         205131     Muchoes     1.33
                        -----------------------------
                         205132     Muchoes     1.47
                        -----------------------------
                         205133     Muchoes     2.90
                        -----------------------------
    

Santa Comba area

Near the southeastern portion of the Moimenta-Almendra concession, the Santa Comba area is found some 7 km south of Muchoes prospect. The general area has been the site of W-Sn semi-artisanal mining in the early-mid 20th century. The area was chosen as a target in light of past artisanal mining and historical Au-W and As-Bi geochemical anomalies.

Mineralization appears to be related to ENE trending shear zones within a syn-tectonic granitic intrusion. Old surface mining works follow shear zones and greisen alteration in granite over an area 150 m wide by (greater than) 800 m long. Observed mineralization consists of wolframite, cassiterite, arsenopyrite, pyrite, molybdenite, chalcopyrite, bornite, covellite, malachite, and chrysocolla. These occur disseminated in greisen zones and in thin quartz veins hosted in two mica granite.

All 16 grab rock samples collected show background Au values. However, all samples show anomalous values of either Ag, Cu, As or Bi: 6 samples (greater than) 20 ppm Ag and up to (greater than)200 ppm Ag; 9 samples show Cu values (greater than) 1000 ppm Cu: range from 1104 ppm to 5309 ppm Cu; 12 samples (greater than) 1000 ppm As: range from 1381ppm to 17795 ppm As.

    
       Table 4: Santa Comba area rock sample assay result highlights.

    -------------------------------------------------------------------------

    SAMPLE     ANOMALY     Au g/t   Ag ppm   As ppm   Cu ppm   WO3%   Sn ppm

    -------------------------------------------------------------------------
    205139  Santa Comba      0.03     46.7     241     3450    0.02     191
    -------------------------------------------------------------------------
    205140  Santa Comba      0.01     28.0     335     1104    0.01     158
    -------------------------------------------------------------------------
    205141  Santa Comba  (less than)  36.1     167     2621    0.01     325
                             0.01
    -------------------------------------------------------------------------
    205143  Santa Comba      0.01   (greater  1381     5309    0.04     539
                                      than)
                                       200
    -------------------------------------------------------------------------
    205145  Santa Comba  (less than)   9.6    3977     1146    0.10      46
                             0.01
    -------------------------------------------------------------------------
    205146  Santa Comba  (less than)  13.2    3885     1241    0.06      35
                             0.01
    -------------------------------------------------------------------------
    205147  Santa Comba  (less than)  23.5    3018     2473    0.01     147
                             0.01
    -------------------------------------------------------------------------
    205148  Santa Comba  (less than)  12.7    1921     2192    0.02      19
                             0.01
    -------------------------------------------------------------------------
    205149  Santa Comba  (less than)  28.5    4635     4031    0.01      74
                             0.01
    -------------------------------------------------------------------------
    205952  Santa Comba  (less than)  15.3   10420      414    0.01      53
                             0.01
    -------------------------------------------------------------------------
    

Tomadias area

Tomadias is an old Sn-W artisanal mining zone located some 3.5 km southeast of the Muchoes area and 5.8 km southwest of the Almendra area, within the Moimenta-Almendra concession. Samples were collected from surface rock dumps and from float. Mineralization consists mostly of arsenopyrite, chalcopyrite, and galena within quartz veins hosted in metasedimentary rocks. Assay results indicate background Au values but anomalous values in Ag, As, Cu, Pb, Sn and Zn. Of the 5 samples collected, 3 samples show values (greater than) 60 ppm Ag: from 64.8 ppm to (greater than) 200 ppm Ag. Maximum values for As, Cu, Pb, Sn, and Zn are as follows: 15770 ppm As, 3709 ppm Cu, 5736 ppm Pb, 4751 ppm Sn, and 1723 ppm Zn.

    
         Table 5: Tomadias area rock sample assay result highlights.

    -------------------------------------------------------------------------

    SAMPLE  ANOMALY   Ag ppm  As ppm   Cu ppm   WO3%   Sn ppm  Pb ppm  Zn ppm

    -------------------------------------------------------------------------
    205967  Tomadias (greater  2215      2984   0.10     2145    5736   1723
                       than)
                        200
    -------------------------------------------------------------------------
    205969  Tomadias    7.5    6764       28    0.02       7     2146    462
    -------------------------------------------------------------------------
    205970  Tomadias   64.8   12943      306    0.01      26     2882    949
    -------------------------------------------------------------------------
    205971  Tomadias  124.4     743      3709   0.02     4571    2485   1426
    -------------------------------------------------------------------------
    

About Colt Resources Inc.

Colt Resources Inc. is a Canadian based junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on tungsten and gold. It is currently focused on advanced stage exploration projects in Portugal, where it is the second largest lease holder of mineral concessions.

Colt's most advanced projects include the Tabuaço Tungsten Project and the Penedono Gold Project, located on the company's Armamar-Meda and Penedono concessions, respectively. Both projects have seen recent drill programs with very encouraging high grade tungsten and gold grades, respectively (see press releases dated February 3, 2010 and April 13, 2010: http://www.coltresources.com/en/press_releases). Up to date drill results on the Tabuaço Tungsten Project will be released very soon.

Portugal is a mining-friendly country of the EU with easy access, excellent infrastructure and a hard-working available labour force. Colt maintains excellent government relationships at both state and municipal levels. Colt is particularly encouraged by recent meetings and the rapport established with the mayors of municipalities in the vicinity of its major projects in northern Portugal. The company is currently reviewing potential EU financial incentive programs.

The Company's shares trade on the Canadian National Stock Exchange (CNSX), symbol: GTP; the USA OTC Pink Sheets under the symbol: COLTF.PK; and on the Frankfurt Stock Exchange, symbol: P01.

Quality Assurance/Quality Control

Samples were delivered by courier to OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. Rock and soil sample major and trace elements were analyzed by ICP-AES: OMAC Code AR/ES. Rock sample W and Sn were analyzed by XRF (borate fusion): OMAC Code BF/EL. Rock sample Au was analyzed by Fire Assay (50g)/AA Finish: OMAC Code Au4. Soil sample Au was analyzed by Fire Assay/AA Finish: OMAC Code Au3. The laboratory inserts its own in-house standards and blanks and carries out repeat assays to ensure internal lab quality control.

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.

SOURCE Colt Resources Inc.

For further information: For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., (514) 394-0009 Ext: 1, Fax: (514) 394-0888, info@coltresources.com; Aurelio Useche, Director & CFO, Colt Resources Inc., (514) 394-0009 Ext: 2, Fax: (514) 394-0888, info@coltresources.com; Helen Bilhete, Director Investor Relations, Colt Resources Inc., (514) 394-0009 Ext: 5, Fax: (514) 394-0888, info@coltresources.com

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