Mr. John Gravelle reports

COLT RESOURCES PROVIDES CORPORATE UPDATE

Following Colt Resources Inc.'s last press release on Jan. 31, 2017, the TSX Venture Exchange contacted the company with a number of questions and requests for additional information. The TSX-V has halted trading of the shares and will review the trading status as its review progresses, and the company makes additional filings and public disclosures required.

About Colt Resources Inc.

Colt Resources is a Canadian mining exploration and development company engaged in acquiring, exploring and developing mineral properties with an emphasis on copper, gold and tungsten. It is currently focused on advanced-stage exploration projects in Portugal, where it is one of the largest leaseholders of mineral concessions.

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