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M on tre a l , Q u ebec, Ca n a d a / TheNewswire / April 20 2015 - C o l t R eso u rces I n c . ( " C o lt" o r t h e " C o m p a n y " ) (TS X V: G T P ) (FR A : P 01 ) ( O T C Pink: CO L TF) a nn o un ces the appointment of Mr. Sabri Karahan to its Board of Directors.

Mr. Sabri 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 EPCM work. Mr. Karahan has been with DAMA Engineering since 2005 and, during that time, DAMA Engineering has been transformed into an internationally recognised engineering company employing highly qualified engineers, geologists, geo-technicians 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 re-vitalised 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 organised 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.

Mr. Nikolas Perrault, President and CEO 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."

About Colt Resources Inc.

Colt Resources Inc. ( www.coltresources.com ) is a Canadian mining exploration and development company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is one of the largest lease holders of mineral concessions.

The Company's shares trade on the TSX - V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTCPink, symbol: COLTF.

FORWARD - LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward - looking information". Forward - looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Colt Resources Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward - looking statements. Forward - looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward - looking statements and information are based on information available at the time and/or management's good - faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's annual information form available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward - looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward - looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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