Richard Quesnel replaces Jean Depatie as Chairman of the Board of Directors of Colt Resources

Richard Quesnel replaces Jean Depatie as Chairman of the Board of Directors of Colt Resources

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Richard Quesnel replaces Jean Depatie as Chairman of the Board of Directors of Colt Resources

Canada NewsWire

MONTREAL, June 21, 2013

Trading Symbols:



GTP - (TSX-V)



P01 - (FRANKFURT)



COLTF - (OTCQX)

MONTREAL, June 21, 2013 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is
pleased to announce that Mr. Richard Quesnel has agreed to accept the
position of Chairman of the Board following the decision of Mr. Jean
Depatie to step down from this role.

Mr. Quesnel has served for over 5 years as President and Chief Executive
Officer of Consolidated Thompson Iron Mines of Montreal. He has over 32
years of senior mine management and engineering experience at large
gold, copper, nickel and iron ore mining properties in Canada and
Western U.S.A. He has successfully developed, commissioned, operated
and expanded several open pit and underground mining operations. Since
1979, he has worked as a mine manager or mining engineer with several
mining companies including Ledcor CMI Limited, JS Redpath Limited, Les
Mines McWatters, Barrick Goldstrike, Quebec Cartier Mining and
Placer-Dome. He is currently also a board member of Sama Resources Inc.

"On behalf of the whole team, I wish to state that we are extremely
honored with this unique opportunity to work closely with Richard, to
benefit from his leadership and wealth of mining experience with
companies of all sizes. Richard´s proven track record of transitioning
a development stage company into a world class producer will prove of
huge benefit to Colt as it advances its assets in Portugal while
seeking out additional near production projects.  I would also wish to
sincerely thank Mr. Depatie for his dedicated services as Chairman
during the last two years" noted Nikolas Perrault, President and CEO of Colt Resources Inc.

ON BEHALF OF THE BOARD OF DIRECTORS OF COLT RESOURCES INC.

Nikolas Perrault, CFA, President & CEO

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.