Colt Resources to Commence Trading on the TSX Venture Exchange

Trading Symbols:

GTP - (CNSX)
P01 - (FRANKFURT)
COLTF - (OTCQX)

MONTREAL, Feb. 7 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce that it has been approved for listing on the TSX Venture Exchange (the "TSX-V") and that its common shares will begin trading on the TSX-V effective at market opening on Tuesday, February 8, 2011, under the trading symbol "GTP". As a result, the Company's common shares will be de-listed from the Canadian National Stock Exchange shortly before the commencement of trading on the TSX-V.

A listing application dated February 1, 2011 was prepared in accordance with the policies of the TSX-V and is available under the Company's profile on SEDAR at www.sedar.com.

Nikolas Perrault, President and CEO of Colt stated, "We are very pleased with this important milestone. This new listing allows us to immediately and significantly broaden and grow our well established shareholder base."

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 gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is the second largest lease holder of mineral concessions.

Colt is presently 51% owner and operator of the advanced stage Montemor gold project located in southern Portugal for which it is currently in the process of filing for an Experimental Mining License with the Direcção-Geral de Energia e Geologia, a division of the Portuguese Ministry of Economy and Innovation. Colt is on a clear path to 100% ownership of this project (see August 10 and October 13, 2010 press releases: www.coltresources.com).

In late 2010, Colt initiated a definition drilling campaign on the Tabuaço tungsten project located on the Company's 100% owned Armamar-Meda concession in northern Portugal. A total of 1530 m of drilling is planned and this will lead to an initial resources estimate by Q3 2011 (see November 29, 2010 press release: www.coltresources.com).

At the Penedono gold project, located on the Company's Penedono concession in northern Portugal, a trench and drill program is currently underway to test near surface gold mineralization at the Turgueira prospect (see October 28, 2010 press release: www.coltresources.com).

The Company also holds a large base metals concession, Santa Margarida do Sado, in southern Portugal, located in the Iberian Pyrite Belt  ("IPB") a 60 km wide by 250 km long mineralized belt that extends from the SW coast of Portugal to Spain. This world class massive sulphide environment has been explored for many years and a number of important mines have been discovered and exploited for copper, lead, zinc, locally including silver and gold. The IPB is host to 5 supergiant volcanogenic massive sulphide (VMS) deposits. Two of these occur in Portugal, namely Neves Corvo and Aljustrel, and are located 75 and 35 km SE, respectively, of Santa Margarida.

Portugal is a mining friendly member country of the European Union (EU) with easy access, excellent infrastructure and available labour force. Colt maintains excellent government relationships at both state and municipal levels. The company is currently reviewing potential EU financial incentive programs.

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: www.coltresources.com).

The Company's shares trade on the CNSX, symbol: GTP; the OTCQX, symbol: COLTF; and Frankfurt Stock Exchange, symbol: P01. The Company's shares will begin trading on the TSX Venture Exchange on February 8, 2011 and, consequently, the Company's common shares will be de-listed from the Canadian National Stock Exchange, effective at market opening on February 8, 2011.

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release 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  news release, 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 application statement dated February 1, 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 news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. 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.

SOURCE COLT RESOURCES INC.

For further information:

Nikolas Perrault,
President & CEO
Colt Resources Inc.
Tel:  (514) 394-0009    Ext: 1    
Fax: (514) 635-6100
info@coltresources.com




    Aurelio Useche,
Director & CFO
Colt Resources Inc.
Tel:  (514) 394-0009    Ext: 2    
Fax: (514) 635-6100
info@coltresources.com
    Helen Bilhete,
Director Investor Relations
Colt Resources Inc.
Tel:  (514) 394-0009    Ext: 5
Fax: (514) 635-6100
info@coltresources.com

Organization Profile

COLT RESOURCES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890