Mr. Todd C. Hennis Joins the International Advisory Board of Colt Resources Inc.

MONTREAL, Dec. 2 - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce that Mr. Todd C. Hennis of Golden, Colorado, has joined the Company's International Advisory Board. Formed to provide timely technical and strategic advice and guidance to Colt management, the Company's International Advisory Board welcomes its newest member. Mr. Hennis has 28 years experience in the mining and metals business. He graduated from Harvard College in 1982 with honors in economics, with emphasis on the natural resource industries. Mr. Hennis has extensive experience and background in the metal trading industry, both at the predecessor of Glencore International AG and at Cargill. His background and experience will be of great assistance to the Company as it readies for the rapid development of its advanced Montemor gold and Tabuaço tungsten projects in Portugal. Mr. Hennis is also President of Salem Minerals Inc., a privately owned resource company based in Colorado.


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).

Colt recently 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. Drilling is expected to be completed by mid-March 2011. An initial resource estimate is planned following completion of the drill program (see November 29, 2010 press releases: 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 the prolific Iberian Pyrite Belt, in southern Portugal.

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.

The Company's shares trade on the CNSX, symbol: GTP; the OTCQX, symbol: COLTF; and 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:

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