Colt to proceed with its first closing

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

MONTREAL, March 31 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce that it has received all the required subscription agreements for its first closing with gross proceeds totaling $1,000,000 for 4,000,000 Units in relation to the private placement the Company announced on February 9, 2010.

The Company is now working on its second closing which is anticipated before the end of April 2010.

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.

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For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., [phone], Fax: [phone], [email protected]; Aurelio Useche, CFO, Colt Resources Inc., [phone], Fax: [phone], [email protected]