NEWS RELEASE January 18th, 2012 Trading Symbols: GTP - (TSX-V) P01 - (FRANKFURT) COLTF - (OTCQX) Colt Resources intersects 9.98g/t Au over 19.40m, including 45.07g/t Au over 3.0m at its Boa Fé Gold Project, Southern Portugal.

Montréal, Québec, Colt Resources Inc. ("Colt" or the "Company") (TSXV: GTP) (FRA: P01) (OTCQX: COLTF) is pleased to announce that it has received final analytical results for the first four holes of its ongoing drilling campaign on its Boa Fé gold project, located within the Company's 100% owned Boa Fé Experimental Mining License ("EML") in southern Portugal.
Colt's initial work program is designed to confirm and expand upon extensive historical drilling and trenching performed by previous operators. The results of this initial phase of drilling will form the basis for an initial NI 43