Colt Resources Inc.

Colt Resources Inc.

October 23, 2007 15:36 ET

Colt Signs Investor Relations Agreement with GGM Europe Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2007) - Colt Resources Inc. (the "Company" or "Colt") (CNQ:COLT) is pleased to announce that it has entered into a Consulting Agreement with GGM Europe Limited ("GGM") a London, U.K., based company specializing in corporate finance and communications, to provide the Company with investor relations representation in Europe. The term of the Consulting Agreement is for a period of three months, which may be extended by mutual consent, and the monthly remuneration payable by the Company to GGM is $7,500.

About GGM Europe Limited:

GGM Europe is focused on small to mid-cap companies operating in the natural resources, alternative energy and technology sectors. GGM provides investor relation, corporate finance, distribution and fund raising services in the UK and around Europe.

About Colt Resources:

Colt Resources is a junior exploration company based in Vancouver, and focused on exploration of the Penedono gold property in Portugal. Additionally, the Company intends to explore the mineralization on the Extra High property in British Columbia.

On behalf of the Board of Directors,

Bedo H. Kalpakian, President, CEO and CFO

Cautionary Statements on Forward-Looking Information

Statements made in this news release contain certain forward looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The CNQ has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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