Mr. Nikolas Perrault reports

COLT RESOURCES SECURES A STRATEGIC FOOTHOLD IN THE IBERIAN PYRITE BELT

Colt Resources Inc. has acquired Antofagasta's 60-per-cent ownership in the Alvalade copper zinc project, held by Avrupa Minerals Ltd., in Portugal's section of the Iberian pyrite belt.

The Sesmarias target in the Alvalade project is the first VMS (volcanogenic massive sulphide) discovery in the Iberian pyrite belt (IPB) since the early 1990s (Las Cruces, Spain, and Lagoa Salgado, Portugal) that is not associated with an existing mine. In addition, Sesmarias is located under tertiary sediment cover as a blind deposit. This discovery has contributed to a new intepretation of structural geological controls that are key to the understanding of how VMS deposits are formed and located in the IPB. This will have great impact on future exploration efforts throughout the 901.9-square-kilometre concession. Many additional targets in the concession remain untested, leaving Colt with considerable upside potential. Alvalade is 30 to 60 kilometres along strike from the Aljustrel and Neves Corvo mines. Work to date on the discovery has revealed massive and disseminated sulphide intercepts over a 1.8-kilometre strike length, with the discovery hole indicating proximity to the potential VMS ore zone. Intersection grades from drill hole SES010 show an interpreted true thickness between 35 to 45 metres, with 0.32 per cent copper, 1.95 per cent zinc and 0.61 per cent lead. Hole SES002, approximately 500 metres from hole 10, displays 11 metres of drilled thickness returning 1.81 per cent copper, 4.38 per cent zinc, 2.57 per cent lead and 0.13 per cent tin. These results are slightly higher in zinc and lead concentrations than Neves Corvo. Important to note is the tin concentration since Neves Corvo is unique for its very high tin concentrations relative to world VMS deposits, a feature that Sesmarias seems to share. Continued exploration efforts will focus on expanding the main zone, which is still open along strike and downdip.

Colt is in the process of planning, in collaboration with the Avrupa Minerals team responsible for the discovery, a 5,000-metre drilling program exclusively focused on delineation of the main ore zone at Sesmarias. This program is expected to begin in October, 2015.

In order to earn its 60-per-cent ownership, Colt has committed to the following scheduled payments to Antofagasta:

• $300,000 (U.S.) on March 31, 2016;
• $300,000 (U.S.) on March 31, 2017;
• $300,000 (U.S.) on March 31, 2018;
• $300,000 (U.S.) on March 31, 2019;
• A final payment of $1.2-million (U.S.) by December, 2019;
• $600,000 (U.S.) payment upon completion of an inferred mineral resource (as defined in National Instrument 43-101) of at least 500,000 tonnes of copper concentrate;
• A payment at the time of the preparation of a feasibility study in respect of the mineral rights providing for an internal rate of return of greater than 20 per cent on a posttax basis, a payment to Antofagasta of $1-million (U.S.);
• On the commencement of commercial production, payment to Antofagasta of $3-million (U.S.);
• Colt, if it so chooses, can make a payment at an earlier date reducing the total to $6.6-million (U.S.);
• Colt grants to Antofagasta a 1-per-cent net smelter return royalty on all products.

By replacing Antofagasta in the option agreement with Avrupa Minerals, Colt is on a clear path to 80-per-cent ownership of the Alvalade concession.

Nikolas Perrault, president and chief executive officer of Colt, commented: "By replacing Antofagasta in the option agreement with Avrupa Minerals, Colt is on a clear path to 80-per-cent ownership of the Alvalade concession. We are extremely pleased with this latest acquisition, which builds on Colt's existing foundation in Portugal. Synergies with existing operations can be expected. This acquisition gives the company access to a $6.5-million (U.S.) (approximated) geological information database, and legacy drilling from previous exploration efforts in the concession area."

About Avrupa Minerals Ltd.

Avrupa Minerals is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.

We seek Safe Harbor.