Mr. Nikolas Perrault reports

COLT RESOURCES CLOSES PRIVATE PLACEMENT

Colt Resources Inc. has completed a private placement. Pursuant to the private placement, the company has issued 9.77 million units for gross proceeds of $977,000 to the company. Each unit comprises one common share at 10 cents per share and one-half of a warrant. Each full warrant will be exercisable at a price of 15 cents during a period of 36 months from the date of closing of the private placement. The company has agreed to pay certain finders a cash commission of $33,760, and to grant warrants to such finders entitling them to purchase an aggregate of 168,800 common shares of Colt at 15 cents at any time before April 11, 2018.

The proceeds of the offering will be used toward general working capital purposes and to fund the exploration program at the Alvalade copper-zinc project in the Iberian pyrite belt in Portugal.

All securities issued to purchasers and finders under the offering will be subject to a four-month hold period from the closing date, pursuant to securities legislation and the policies of the exchange.

We seek Safe Harbor.