Mr. Nikolas Perrault reports

COLT RESOURCES APPOINTS SABRI KARAHAN TO ITS BOARD OF DIRECTORS

Colt Resources Inc. has appointed Sabri Karahan to its board of directors.

Mr. Karahan is a mining engineer with 40 years of experience in mining operation, development, engineering, mine management and corporate management. He is the founder, and is currently the chief executive officer and general manager of Dama Engineering of Ankara, Turkey, which serves the worldwide mining industry in the areas of exploration, project development, and engineering, procurement and construction management work. Mr. Karahan has been with Dama Engineering since 2005, and, during that time, Dama Engineering has been transformed into an internationally recognized engineering company employing highly qualified engineers, geologists, geotechnicians and economists.

Mr. Karahan is also on the board of Aimroc Mining Company, which is based in Azerbaijan. He has been a director of Aimroc Mining since 2011. From 1998 to 2005, Mr. Karahan was an executive board member and the general manager of Normandy Madencilik PLC, which was a subsidiary of Normandy Ltd. of Australia until 2002, and then a subsidiary of Newmont Ltd. In this capacity, Mr. Karahan led a team of engineers, lawyers and consultants that revitalized a major gold project in Turkey and opened the way for the gold mining industry in Turkey.

From 1988 to 1998, Mr. Karahan was an executive board member and the general manager of Cominco Madencilik PLC, which was a subsidiary of Cominco Ltd. of Canada. In this capacity, Mr. Karahan incorporated and organized Cominco Madencilik PLC in Turkey, recruited and trained a large exploration team, and led the team to do successful exploration work in Turkey for 10 years. He also managed government and public relations for the company. Mr. Karahan obtained a master of science degree from the mining faculty at the Technical University of Istanbul, Turkey.

Nikolas Perrault, president and chief executive officer of the company, comments: "We are extremely pleased to welcome Mr. Karahan to our board. He brings to Colt a wealth of hands-on mining experience spanning over several decades and across a range of different minerals. We look forward to working closely with him on many initiatives. This latest addition to our board is in continuation of a corporate restructuring process undertaken in 2014. We look forward to sharing additional developments with our shareholders in the near future."

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