Colt Resources Intersects 0.89% WO3 over 15.00m including 1.64% WO3 over 7.00m at its Tabuaço Tungsten Project, Northern Portugal

MONTREAL, March 24 /CNW/ -- 

Trading Symbols:       GTP - (TSX-V)
                       P01 - (FRANKFURT)
                       COLTF - (OTCQX)

MONTREAL, March 24 /CNW Telbec/ - Colt Resources Inc. ('Colt' or the
'Company') (TSXV: GTP) (FRA: P01) (OTCQX: COLTF) is very pleased to
announce that it has received preliminary analytical results for the
first three holes drilled this year in its Tabuaço (São Pedro das
Águias) tungsten project, located on the company's wholly owned
Armamar-Meda concession in northern Portugal.

These successful drill holes have intersected thick and richly
mineralized skarn horizons, and confirmed the extension of the known
mineralized zone for a further 100m West of Colt's previous drilling
grid.

Colt's current drilling program is designed to confirm and expand the
historical, non NI 43-101 compliant resource estimate of 1 million
tonnes grading 0.87% WO(3) (SPE-BRGM JV, early 1980's).

Nikolas Perrault, President and CEO of Colt, says, 'Based on these very encouraging results, the company has decided to
mobilize an additional drill rig on this project as soon as possible.'

The received results are summarized as follows:

 ______________________________________________________
|Drill hole DHT-11A (inclined 55(o) to N031(o)) (72.95m|
|deep)                                                 |
|______________________________________________________|
|  From (m)  |  To (m)  |Grade % WO(3)|   Length (m)   |
|____________|__________|_____________|________________|
|       31.10|     35.35|         0.19|            4.55|
|____________|__________|_____________|________________|
|       46.55|     52.55|         0.77|            6.00|
|____________|__________|_____________|________________|
|       70.90|     72.25|         0.62|            1.35|
|____________|__________|_____________|________________|
|Drill hole DHT-12 (vertical, 118.65m deep)            |
|______________________________________________________|
|   From (m) |   To (m) |Grade % WO(3)|    Length (m)  |
|____________|__________|_____________|________________|
|       17.85|     20.85|         0.25|            3.00|
|____________|__________|_____________|________________|
|       52.20|     67.20|         0.89|           15.00|
|____________|__________|_____________|________________|
|Including                                             |
|______________________________________________________|
|       59.20|     66.20|         1.64|            7.00|
|____________|__________|_____________|________________|
|                                                      |
|______________________________________________________|
|       78.25|     93.65|         0.45|           15.40|
|____________|__________|_____________|________________|
|Including                                             |
|______________________________________________________|
|       82.20|     90.85|         0.66|            8.65|
|____________|__________|_____________|________________|
|Drill hole DHT-10A (vertical, 15.00m deep)            |
|______________________________________________________|
|   From (m) |   To (m) |Grade % WO(3)|    Length (m)  |
|____________|__________|_____________|________________|
|       11.40|     12.40|         0.43|            1.00|
|____________|__________|_____________|________________|

QA/QC

Sample intervals are reported as metres (m) downhole and as such do not
represent true width. The actual dip of the skarn controlled
mineralization is generally shallow. It is estimated that true widths
may range between 75% and 95% of the sample widths.

All drill core is transported by Company personnel from drill site to a
nearby secure storage facility for logging and sampling. Sampling
intervals are defined after core logging and determination of scheelite
contents by examination under short-wave UV-light.

One half of the core is sent for analysis, while the other half is
retained in the core boxes for future reference.


All samples are sent by courier to OMAC Laboratories Ltd, at Galway,
Ireland, an ISO 17025 accredited facility. Samples are analyzed for W
and Sn using a metaborate fusion followed by XRF (laboratory code
BF/EL). Assay results for tungsten are reported by the laboratory as
W%. WO(3 )values are calculated using a conversion factor of 1.26.

A set of standards, duplicates and blanks is employed by Colt in their
sample stream as well as the laboratory's own standards and duplicates.
Results to date are well within the accepted norm.

About Colt Resources Inc.

Colt Resources Inc. is a Canadian 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.

In addition to the Tabuaço tungsten project located on the Company's
100% owned Armamar-Meda concession in northern Portugal, Colt holds
gold and base metal properties in Portugal.

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 obtaining 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, 2010 press release and October 13, 2010 press release).

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).

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 southwest 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 deposits. Two of these occur
in Portugal, namely Neves Corvo and Aljustrel, and are located 75 and
35 km southeast, respectively, of Santa Margarida. Colt filed a NI
43-101 Technical Report on the Santa Margarida do Sado property on
February 14, 2011 (see: February 16, 2011 press release). The Company is currently implementing the recommended follow-up
exploration program.

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).

Jeffrey Volk, MSc, CPG, FAusIMM, of SRK Consulting (U.S.) Inc., is the
independent qualified person, as defined in NI 43-101, for Colt's
projects in Portugal.

The Company's shares trade on the TSX-V, symbol: GTP; the Frankfurt
Stock Exchange, symbol: P01; and, the OTCQX, symbol: COLTF.

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 annual
information form dated February 14, 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.

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.

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