Colt Resources Inc. ("Colt" or the "Company") CA:GTP -4.55%  (fra:P01) (otcqx:COLTF) is pleased to announce encouraging intercepts in the first three holes drilled at the Tabuaco tungsten project, in northern Portugal, as part of its resource expansion drilling program started on June 18(th) (News Release of June 16(th),2014).

The initial three holes of this latest phase of drilling, DHT-113, DHT-114 and DHT-115, have focused on testing the ground close to an isolated hole completed in December 2012, DHT-88, which intersected rich tungsten mineralization away from either the SPA or Aveleira deposits (Colt News Release of January 30(th), 2013). This isolated hole was not included with those used to estimate resources that formed the basis for the PEA published in Q3, 2013 (Colt News Release of September 4(th), 2013).

Visual inspection of the mineralized skarns intersected by all three holes, both under natural light and short-wave UV-light indicates that in general they compare very well, both in terms of mineralogy and texture, with hole DHT-88.

The rock mechanics conditions of the entire sequence intersected by the latest holes (both the mineralized zones and the hangingwall rocks) are very good and appear to be superior to that encountered elsewhere on the project.

The three initial holes of this latest program are located within 100m of DHT-88 and strongly suggest the presence of a previously undetected zone of mineralization unrelated to either the SPA or Aveleira deposits.

Sampling of the mineralized drill core of holes DHT-113, DHT-114 and DHT-115 is underway, and high priority has been given to reporting assay results from these very promising intercepts.

Table 1 Main WO(3) mineralized intervals of hole DHT-88 (assays previously reported) and estimated mineralized intervals from Holes DHT-113, DHT-114 and DHT-115 based on and core logging and visual inspection under short-wave UV-light (assay results pending).

• [Editor:Mango]