Mr. Richard Quesnel reports

ISSUANCE OF SHARES FOR SENIOR NOTE INTEREST AND DEPARTURE SETTLEMENT WITH PREVIOUS CFO

Colt Resources Inc. has arranged to settle some of its existing debt through the issuance of shares.

Shares for interest payment on senior note

Colt has settled the interest of the senior note owed as of Dec. 31, 2013. See press release from Nov. 4, 2013. The company has issued an aggregate of 130,660 common shares at a deemed price of 29.88 cents per common share. The amount of indebtedness to be settled by this arrangement totals $39,041. The senior note agreement provides for automatic settlement of interest payment by way of share issuance. Noteholders wishing to receive their interest payment in cash must notify the company 30 days prior to each coupon date. This share issuance has been conditionally approved by the TSX Venture Exchange.

Shares for debt owed to former chief financial officer

Colt announces that it has arranged to settle part of the outstanding debt owed to its former chief financial officer, Aurelio Useche, by issuing an aggregate of 368,193 common shares at a deemed price of 30.11 cents per common share. The amount of indebtedness to be settled by this arrangement totals $110,863.60. Mr. Useche resigned as the company's chief financial officer on Dec. 4, 2013.

The common shares issued in connection with this debt settlement will be subject to a hold period of four months from issuance. The arrangement is subject to approval of the TSX Venture Exchange.

We seek Safe Harbor.