Colt Resources appoints John Gravelle as Interim President and CEO

(TheNewswire)

Montreal, Quebec, Canada / TheNewswire / December 21 2016 - Colt Resources Inc. (“Colt” or the “Company”) (TSXV: GTP) (FRA: P01) (OTC Pink: COLTF) is pleased to announce the appointment of Mr. John Gravelle as its Interim President and CEO by its Board of Directors as the Company reviews its strategic options. Mr. Gravelle was elected to the Company’s Board of Directors at its last AGM as an independent director. He is currently the Chair of Colt’s Audit Committee. Mr. Gravelle has extensive experience working with mining companies in a professional services capacity. As a result of this he has built a strong network of relationships with senior executives and board members of public and private mining companies. The Company intends to work closely with its former President,CEO and Company co-founder, Mr. Nikolas Perrault, in some form of executive or consulting capacity during this transitional time. Terms and conditions of his role are currently under negotiation.

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 copper, 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.

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.

The Company’s shares trade on the TSX‐V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTC Pink, 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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