Colt to Proceed with a Non-Brokered Private Placement

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

    MONTREAL, June 15 /CNW Telbec/ - Colt Resources Inc. (the "Company")
wishes to announce that it intends to proceed with a non-brokered private
placement consisting of up to 10,000,000 shares at a price of $0.10 per share
to raise gross proceeds of up to $1,000,000.
    The Company intends to use the proceeds for exploration expenditures on
the Company's mineral properties in Portugal and for general working capital
    The securities issued pursuant to the private placement will be subject
to a four month hold period and the offering will be subject to normal
regulatory approvals.
    The Company may pay finder's fees in cash of up to 8% of the proceeds.

    Colt is a Canadian based junior mining exploration company with
properties in Canada and Portugal. The Company's shares trade on the Canadian
National Stock Exchange (CNSX) Symbol: GTP and on the Frankfurt Stock
Exchange, Symbol: P01.

    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.

For further information:

For further information: Nikolas Perrault, CFA, President & CEO, Colt
Resources Inc., (514) 501-2985, (514) 394-0009, Fax: (514) 394-0888,

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Colt Resources Inc.

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