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

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.

Nikolas Perrault, CFA 
President & CEO 
Colt Resources Inc. 
Tel: [phone]
Fax: [phone]
[email protected]

Christophe Romary, 
Vice President, Business Development 
Colt Resources Inc. 
Tel: [phone]
Fax: [phone]
[email protected]

Declan Costelloe, CEng 
Executive Vice President & COO 
Colt Resources Inc. 
Tel: [phone]
Fax: [phone]
[email protected]

Investor Relations for the USA:
Richard E. Cooper 
President, Cooper Global Communications 
Tel: [phone]
Fax: [phone]
[email protected]