Colt Resources Inc. announced the appointment of Jean Depatie as Non-Executive Chairman of the Company.

In addition to being a member of Colt’s Advisory Board for the past 3 years and a member of the Board of Directors since February, Mr. Depatie has over 35 years of national and international experience in economic geology. He has worked in over 15 countries and acted directly or indirectly as a consultant for organizations such as the United Nations, the World Bank, the Commonwealth Secretariat, the Asian Development Bank, Banco Interamericano, the Canadian International Development Agency and Quebec's Ministry of Natural Resources. Since 1981, he has been working as president or vice president or director of several mining companies including Cambiex, Novicourt, Noranda Group, Glamis Gold, Richmont Mines, Alexis Minerals, Louvem Mines and Sulliden Explorations. Mr. Depatie sits on the board of directors of several mining companies including Trinity Mining A.G. of Switzerland. Mr. Depatie was instrumental in developing the Montreal office of Consolidated Thompson Iron Mines Inc. and sat on the board of directors of for six years until its recent acquisition by Cliffs Natural Resources. He is currently president of Decamines Inc. of Montreal.

“We are very pleased to announce today that management has decided that the Company has now reached a stage where it is appropriate to separate the positions of Chairman and that of President and CEO. In this light, we are proud to announce that Jean Depatie has accepted to become Non-Executive Chairman of the Board.” stated Nikolas Perrault, President and CEO.

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