Colt Resources Appoints Jean Depatie as Non-Executive Chairman

MONTREAL, June 6, 2011 /CNW/ -- 

Trading Symbols: GTP - (TSX-V)

                 P01 - (FRANKFURT)

                 COLTF - (OTCQX)

MONTREAL, June 6, 2011 /CNW Telbec/ - Colt Resources Inc. ('Colt' or the
'Company') (TSXV: GTP) (FRA: P01) (OTCQX: COLTF) is very pleased to
announce the appointment of Jean Depatie as Non-Executive Chairman of
the Company. In addition to being a member of Colt's Advisory Board for
the past 3 years and a member of the Board of Directors since February,
Mr. Depatie has over 35 years of national and international experience
in economic geology. He has worked in over 15 countries and acted
directly or indirectly as a consultant for organizations such as the
United Nations, the World Bank, the Commonwealth Secretariat, the Asian
Development Bank, Banco Interamericano, the Canadian International
Development Agency and Quebec's Ministry of Natural Resources. Since
1981, he has been working as president or vice president or director of
several mining companies including Cambiex, Novicourt, Noranda Group,
Glamis Gold, Richmont Mines, Alexis Minerals, Louvem Mines and Sulliden
Explorations. Mr. Depatie sits on the board of directors of several
mining companies including Trinity Mining A.G. of Switzerland. Mr.
Depatie was instrumental in developing the Montreal office of
Consolidated Thompson Iron Mines Inc. and sat on the board of directors
of for six years until its recent acquisition by Cliffs Natural
Resources.  He is currently president of Decamines Inc. of Montreal.

'We are very pleased to announce today that management has decided that
the Company has now reached a stage where it is appropriate to separate
the positions of Chairman and that of President and CEO. In this light,
we are proud to announce that Jean Depatie has accepted to become
Non-Executive Chairman of the Board.' stated Nikolas Perrault,
President and CEO.

The Company also confirms that directors passed a resolution concerning
changes to the Company's Stock Option Plan presented at the Company's
Annual General Meeting of Shareholders held on September 8, 2010. The
resolution to approve an amendment to the Stock Option Plan to increase
the 'fixed number' of the aggregate number of Common Shares reserved
for issuance upon the exercise of options pursuant to the Stock Option
Plan from 10,918,119 to 12,250,000 was passed unanimously by the Board
of Directors and the amendments are subject to shareholder approval.

Colt is also pleased to announce that it has granted today an aggregate
of 3,250,000 Incentive Stock Options to Directors, Officers and
Consultants of the Company which have a term of 5 years and are
exercisable at CDN$0.73 per common share. These Options have been
reserved for issuance pursuant to the Company's 2007 Stock Option Plan
and are subject to the ratification of the Stock Option Plan at the
Company's next Annual General Meeting.

For further clarification to its press release of February 18, 2011,
Colt confirms that it has retained the services of Renmark Financial
Communications Inc. ('Renmark') to handle its North American retail
investor relations activities.

Renmark is a full service investor relations firm representing small,
medium and large cap public companies trading on US and Canadian
exchanges. The team of 25 Investor Relations professionals works hand
in hand with the Media and Web departments to communicate public
companies' story to existing and potential shareholders, as well as to
the entire financial community. (see: http://www.renmarkfinancial.com/)

In consideration of the services to be provided, the Company has an
agreement that commenced in February 2011 paying a monthly retainer of
$7,000 to Renmark for one year, which may be cancelled with a 30 day
notice any time after June 1, 2011.

Renmark does not have any interest, directly or indirectly, in Colt
Resources Inc. or its securities, or any right or intent to acquire
such an interest.

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.

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 revised annual information form dated
April 20, 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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