Colt Resources Inc. announced the completion of the infill drilling campaign, at its 100% controlled "Boa Fé" gold project located in Southern Portugal. Colt is also announced the commencement of infill and resource expansion drilling at its 100% controlled "Tabuaço" tungsten project located in Northern Portugal. The infill drilling program at Boa Fé was designed to improve confidence in previously reported resources and provide data needed to advance the feasibility study related work for the project which is already underway.

Since November 2013, a total of 74 (6636 metres) infill drill holes were completed at the Boa Fé Project targeting the Braços, Chaminé and Casas Novas deposits. Logging and sample preparation of the most recently collected core is ongoing and sample dispatch for assaying is planned when completed. Samples from holes drilled in late 2013 and early 2014 have been dispatched to the assay laboratory in Spain and assays are pending.

Since publishing a positive PEA for Boa Fé in May 2013, much internal work has been done to plan the most efficient strategy to advance the project. While the PEA addressed just six targets that had been previously identified by RTZ during the 1990s, it is the Company's belief that there is good potential to increase resources through additional exploration drilling both along strike and following the known deposits to depth. At Tabuaço, located in Northern Portugal, Colt is very pleased to announce the recommencement of drilling (June 18, 2014) designed to infill known resource areas and to test for deposit extensions.

The Tabuaço drilling program will initially be focused towards increasing the total resource base of the project, as previously reported from the São Pedro das Águias (SPA) and Aveleira deposits (Colt News Release of October 3, 2012). This will be accomplished through both: Drill testing for possible lateral extensions of the SPA deposit, which remains open to the west, underneath the granite body, and Exploring for potential new ore lenses located in the gap between the SPA and Aveleira deposits, where widely spaced exploration holes completed in 2012 indicate the presence of tungsten mineralized skarn horizons.