Colt Appoints Richard Quesnel to the Board of Directors

MONTREAL, March 25 /CNW/ -- 

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

MONTREAL, March 25 /CNW Telbec/ - Colt Resources Inc. ('Colt' or the
'Company') (TSXV: GTP) (FSE: PO1) (OTCQX: COLTF) is pleased to announce that Mr. Richard Quesnel has joined its Board of
Directors and has been appointed the Company's Senior Technical
Advisor. Mr. Quesnel has served for over 5 years as President and Chief
Executive Officer of Consolidated Thompson Iron Mines of Montreal. He
has over 32 years of senior mine management and engineering experience
at large gold, copper, nickel and iron ore mining properties in Canada
and Western U.S.A. He has successfully developed, commissioned,
operated and expended mining operations, both open pit and underground.
Since 1986, he has been working as a mine manager or mining engineer of
several mining companies including Ledcor CMI Limited, JS Redpath
Limited, Les Mines McWatters, Barrick Goldstrike, Quebec Cartier Mining
and Placer-Dome. Mr. Quesnel is currently Senior Technical Advisor of
Consolidated Thompson Iron Mines.

Mr. Quesnel will fill the vacancy created by today's resignation of Mr.
J. Wayne Murton from the Board of Directors of the Company.

'I am extremely pleased to welcome Mr. Quesnel to Colt's Board of
Directors. He brings a wealth of mining experience to the Company. I
also wish to take this opportunity to thank Mr. Murton for his years of
service, long standing commitment and dedication to the Company,' noted Nikolas Perrault, President and CEO of Colt Resources Inc.

Colt also wishes to announce that it has granted today an aggregate of
750,000 Incentive Stock Options to Directors of the Company which have
a term of 5 years and are exercisable at CAD$0.91 per common share.
These Options have been reserved for issuance pursuant to the Company's
2007 Stock Option Plan.

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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