Colt Resources Announces the Appointment of Richard Quesnel as Executive Chairman of the Board

MONTREAL, June 26, 2013 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") announces the election of Richard Quesnel to the position of Executive Chairman of the Board of Directors following his recent appointment (Press Release dated June 21, 2013). This will allow Mr. Quesnel to expand and develop his role within the Company. Furthermore, following Mr. Jean Depatie's decision to step down from the position of Chairman, he has also decided to step down from Colt's Board of Directors effective immediately, so as to spend more time with his family.

"As mentioned in our previous release, our company is moving to the next phase of its development. Additionally and importantly, as our efforts to secure additional near term production assets has intensified, it is a real honor to have the opportunity to work full time with Richard. His experience in the development of several world class mining operations provides Colt with greatly enhanced skill sets necessary to successfully implement this strategy. We would also wish to sincerely thank Mr. Depatie for his dedicated services as Chairman and director during the last two years and we wish him well in his future endeavors" noted Nikolas Perrault, President and CEO of Colt Resources Inc.

About Colt Resources Inc.

Colt Resources Inc. 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 OTCQX, 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: COLT RESOURCES INC.