Colt Resources Investor Presentation, July 2010

1. Gold, Tungsten,
and Base Metal Projects
in Portugal
GTP – (CNSX)
P01 – (FRANKFURT)
COLTF – (USA Pink Sheets)
1

2. Forward looking statements
Except for historic information, the matters discussed in
this presentation contain forward-looking statements.
These statements involve known and unknown risks,
delays, uncertainties and other factors not under the
Corporation’s control that may cause actual results,
levels of activity, performance or achievements to be
materially different from the results, levels of activity,
performance, achievements or expectations expressed
or implied by these forward-looking statements.
2

3. Who we are
 A Canadian junior exploration company
 With an experienced dynamic management
 Determined to become a producer within two
years
3

4. Experienced Dynamic Management
Team
Directors and Officers
Nikolas Perrault, CFA, President and CEO
Mario Justino, M.Sc., P. Geo., Vice-President Exploration
Aurelio Useche, CMA, Director & Chief Financial Officer
James Ladner, lic.oec.HSG, Director, Zurich
Donald J.P. Ziraldo, C.M., LLD, Director, Toronto
David Johnson, B.A.(Hons.), LL.B. Attorney, Director
J. Wayne Murton, P.Eng., Director, Vancouver
Exploration Team
Mario Justino, M.Sc., P. Geo., Vice-President Exploration
J. Wayne Murton, P.Eng., Geologist and Mining Consultant
Filipe Faria, Geologist and Principal Consultant in Portugal
Jorge Valente, P.Eng., CEO, Eurocolt Resources Ltda.:
(the wholly owned subsidiary of COLT in Portugal)
Advisory Board
Jean Depatie, Montréal, Québec
Declan Costelloe, Lakewood, Colorado,
Kevin Ernst, New York, New York
4 John D. Redfern, Montréal, Québec

5. Share Structure1
Listed on the Canadian National Stock Exchange under GTP
Listed on Frankfurt and Berlin Exchanges under the Symbol P01
Listed on USA Pink Sheets under the Symbol COLTF
 Shares Outstanding: 39 million
 Shares fully diluted: 63 million
 Current share price $0.27
 52 wk high – low $0.47 – $0.07
 Market capitalization: $10.5 million
 Average exercise price
of warrants and options: $0.30 per share
 Significant management ownership and
strong shareholder base
1As of July 2, 2010 CAN$
5

6. Why Portugal?
 Stable and mining friendly country of the European Union
 Exceptional geological potential; remains largely overlooked and
under-explored
 Properties easily accessible year round
 Well developed modern infrastructure: close proximity to roads,
water, power, and port facilities
 Excellent labour force availability with a hard working culture
 Excellent government relationships at both state and municipal
levels
 Potential access to various EU financial incentive programs for
infrastructure development
6

7. A significant land package.
Currently the second largest holder Properties:
of mineral exploration rights in Total: ~ 1,464 km2
Portugal.
Northern Portugal
Concession Name Principal commodity
Penedono Gold 102 km2
Tungsten - 436 km2
Armamar - Meda
Gold
Gold –
Moimenta -
Tungsten - 566 km2
Almendra Tin
Southwestern Portugal
Massive
Sulphides
Santa Margarida
(VMS): 360 km2
do Sado
Cu Pb Zn (Ag,
7 Au)

8. Why Gold?
8

9. Outline of concessions and location of
exploration targets in Northern Portugal
9

10. Penedono Gold
Concession
 Mineralization comprised of widespread clusters of
gold-bearing vein systems, locally containing tungsten.
Penedono
 Veins occur as clusters within a broad west-northwest
trending 16 km long belt.
 Veins consist of:
– Steeply dipping quartz-sulphide veins (e.g. Santo
Antonio area) Index
– Quartz-sulphide “greisen” veinlets and zones
– Sheeted veins and stockwork
 Potential for deposits of:
– Underground high-grade gold veins
– Open pit lower grade gold zones
 Numerous untested, large gold-in-soil anomalies
 Excellent infrastructure, road access throughout the
concession, with a supportive local population
10

11. Penedono Gold Concession
Extent of gold-bearing vein sets over NW Zone: 16km long
Main Drill Area Santo Antonio Gold
Mine
(closed)
Santo Antonio
13 en echelon
vein system
Vein
sets
Penedono
Concession
outline
Penedono Concession
Sept. 2009
(Modified after W. Gruenwald, 2008)
11

12. Penedono Gold Concession
Exploration History
 Explored and exploited for gold dating back to Roman times.
 Very limited modern exploration.
 In the mid-1950’s, the Santo Antonio gold mine went into
production and operated for at least 9 years.
– Tenuous records indicate perhaps 110,000 tonnes of material
were processed with perhaps 331,000 grams of gold
recovered.
– Grade possibly up to 14 g/t Au (source INETI).
 Only 6 drilling campaigns completed since 1996, with a total of
7,431 meters in 68 shallow holes.
 Just over half targeted the Santo Antonio vein system.
12

13. Penedono Gold Concession
Exploration Results
 Acquired concession from Rio Narcea in June 2007. Several distinct clusters of
auriferous quartz veins, with seven key areas outlined to date.
 Focused on the Santo Antonio vein system - 13 en echelon, northeast trending
veins outcropping over a 1.2 km by 1 km area.
 Limited shallow drilling in at Santo Antonio in 2008-2010 by Colt on Veins 11
and 13 produced several high grade gold intersections*: (see following slide).
Table of High Grade Results: Veins 11 and 13
Vein High grade drill intervals: Au g/t Hole number
vein 11 180.57 g/t over 0.38 m PPE 10-01
vein 13 87.04 g/t over 1.00 m included in 39.67 g/t over 2.23 m PPE 08-02
vein 13 75.64 g/t over 0.08 m (left over vein from mined stope) PPE 10-04
vein 13 35.34 g/t over 0.75 m included in 15.31 g/t over 1.80 m PPE 10-07
vein 11 34.40 g/t over 0.87 m included in 14.59 g/t over 3.15 m PPE 08-03
vein 13 26.56 g/t over 0.56 m included in 13.35 g/t over 1.41 m PPE 08-01
vein 11 18.37 g/t over 1.54 m included in 9.21 g/t over 4.14 m PPE 08-04
13

14. Penedono Gold Concession
2008 - 2010 Drilling: Significant Gold Results
Santo Antonio veins: # 11 and 13: Press release April 13, 2010
13.35 g/t /
Vein 11
1.41 m 39.67 g/t / • 180.57 g/t over 0.38 m
2.23 m
75.64 g/t / • 5.89 g/t over 8.14 m
0.08 m incl. 18.37 g/t over 1.54 m
Vein #13 Santo Antonio
15.31 g/t / 13 en echelon • 8.34 g/t over 6.74 m
1.80 m incl. 14.59 g/t over 3.15 m
vein system incl. 7.00 g/t over 1.39 m
incl. 24.05 g/t over 1.87 m
incl. 15.04 g/t over 1.00 m
incl. 34.40 g/t over 0.87 m
Vein #11
Vein 13
• 75.64 g/t over 0.08 m
18.37 g/t /
• 39.67 g/t over 2.23 m
1.54 m incl. 59.99 g/t over 1.47 m
180.57 g/t /
0.38 m incl. 87.04 g/t over 1.00 m
14.59 g/t / • 13.35 g/t over 1.41 m
3.15 m incl. 26.56 g/t over 0.56 m
100 m • 15.31 g/t over 1.80 m
incl. 35.34 g/t over 0.75 m
14

15. Penedono Gold Concession: Outlook
“It is apparent that there exists hydrothermal systems with the capacity and
potential to host significant gold and tungsten deposits.” (as per NI 43-101 report)
 The Penedono Project has potential for high-grade vein gold
deposits and low grade open pit gold zones.
 The Santo Antonio vein system remains a major target for
further drilling by Colt, other areas of widespread vein clusters
as well as vast gold-in-soil anomalies remain largely under-
explored and have not been drill tested.
15

16. Why Tungsten?
 Unique physical attributes:
– Highest melting point of all elements except carbon with high
thermal and electrical conductivity
– Extremely strong, wear resistant; with a hardness close to that
of diamonds - highest tensile strength of all metals
– Superior heaviness and density among metals
– Extremely corrosive resistant and relatively acid resistant,
deemed environmentally benign
 Strategic commodity having few, if any replacements, in the
majority of its industrial applications
 Primary use mainly for industrial cutting tools
16

17. Investing in Tungsten
 Mid-2000s: Rapid growth and emergence of the
Chinese economy increased demand for tungsten
products in the domestic market and reduced
exports, resulting in rapid global price increases.
 In the 1980s and 1990s, production of
WO3 and APT shifted to China. By late
1990s, China secured 90% of global
market for tungsten supply and
production.
 Trigger for new investment in tungsten
exploration.
 Global annual demand currently projected at 60,000 to 80,000 tonnes, expected to
grow by 8% to 10% annually.
 Chinese annual consumption estimated at 24,000 tonnes.
 Current price ~US$210 to US$2151 per MTU.
17 1As of June 24, 2010

18. Armamar – Meda Concession
Tabuaço Tungsten Project
 In the 1970’s, tungsten bearing skarns were
discovered by government geologists south of the
Tabuaço area.
Armamar -
Meda
 Mineralization at Tabuaço consists of gently
dipping, well-developed skarn horizons, up to
19 m thick, with significant scheelite (CaWO4).
Index
 In 1981-1982, a SPE/BRGM consortium drilled
6 holes leading to a historical resource at Tabuaço
of :
 ~1 million tons grading 0.87% WO3
(not NI 43-101 compliant).
 Best intersection includes:
19.35 m @ 1.18% WO3
 Virtually no exploration since 1982: Colt
acquired concession in Dec. 2007.
 NI 43-101 Technical Report, completed in Jan. 2009, indicated there was
18 “ample justification to recommend continued exploration on the concession.”

19. B NW trending Geology Map of the
longitudinal trace A-B
2.1 km long
Tabuaço Tungsten
Project
Quinta Zone
Exposed skarn horizon
Granite Metasediments
S. Pedro das Águias Zone
Upper skarn horizon
Main Drill Area Lower skarn horizons
A
19

20. Armamar – Meda Concession
Tabuaço Tungsten Project - longitudinal section
NW trending longitudinal section: 2.1 km long
A Main Drill Area B
São Pedro das Águias
Zone
Quinta Zone
Historical resource of
Exposed skarn
1 Million tonnes @ 0.87% WO3 horizon
Upper skarn horizon
Lower skarn horizons
20

21. Armamar – Meda Concession
Tabuaço Tungsten Project – High Grade W
• Since 2008, surface mapping, prospecting, channel and rock sampling
completed on skarn horizons by Colt.
• Selected surface and channel results from sampling: include:
– São Pedro das Águias Zone – main skarn horizon: surface avg. grade
of 0.673% WO3; average from 23 channel samples taken across the
width of the horizon, but over a total outcrop extension of 260 m.
– São Pedro das Águias Zone - main skarn horizon: 0.45% WO3 over
23.3 m: average from 6 samples collected over continuous width of
23.3 m;
 including 0.78 % WO3 over 12.45 m.
• Several samples from areas along strike returned values above 0.5 %
WO3 and many samples also displayed elevated tin assay values
Note: Panasqueira tungsten mine, located some 100 km south of Tabuaço, hosts P&P Reserves of 2.43 MT @
21 0.243% WO3 . (Source : Primary Metals, 2007)

22. Armamar – Meda Concession
Tabuaço Tungsten Project – Drill Results
Drilling initiated by Colt on the São Pedro das Águias Zone to confirm and
expand on historical resource of ~1.0 million tonnes grading 0.87% WO3*
returned the following results in the first two drill holes:
Hole DHT-01B Hole DHT-02
(press release January 20, 2010) (press release February 3, 2010)
 4.75 m grading 0.52% WO3;  13.60 m grading 0.93% WO3
 18.80 m grading 0.73% WO3;
includes 10.35 m grading 1.17% WO3,
includes 2.10 m grading 1.01% WO3 which includes:
includes 13.77 m grading 0.84% WO3,
which includes: 5.0 m grading 1.44% WO3
3.00 m grading 1.14% WO3 and
6.32 m grading 0.96% WO3.
*non NI 43-101 compliant
22

23. Armamar – Meda Concession
Tabuaço Tungsten Project – Drill Results
skarn WO3%
Drill Hole incl. (deg) depth (m) from (m) to (m) interval* (m)
WO3% drill results* horizon (avg.)
DHT-01B -90 59.85 upper 7.10 11.85 4.75 0.52
Highlights after main 19.15 37.95 18.80 0.73
only 9 hole drill incl. 19.15 21.25 2.10 1.01
program. incl. 24.18 27.18 3.00 1.14
incl. 29.18 36.00 6.82 0.96
DHT-02 -90 90.30 main 52.60 66.20 13.60 0.93
*Press release June 14, 2010
incl. 57.95 62.95 5.00 1.44
DHT-05 -90 42.25 main 16.95 26.65 9.70 0.38
incl. 16.95 19.45 2.50 1.25
DHT-06 -90 84.85 main 12.64 17.82 5.18 0.34
DHT-07 -90 60.35 main 35.80 38.60 2.80 0.25
DHT-08 -90 78.35 main 42.40 54.40 12.00 0.60
incl. 42.40 47.75 5.35 1.09
lower 67.75 70.70 2.95 0.15
DHT-09 -45 150.00 upper 60.50 62.20 1.70 0.25
main 93.60 115.20 21.60 0.54
incl. 93.60 96.00 2.40 1.11
incl. 99.00 104.00 5.00 0.88
lower 124.15 127.80 3.65 0.17
Interval: > 5m in red
WO3% (avg.): highlights > 0.50 and > 1.00
*downhole interval
23

24. Armamar – Meda Concession
Tabuaço Tungsten Project – Outlook
Drilling
São Pedro das Águias Area:
 Drill program to confirm and expand on the historical resource of ~1.0
million tonnes grading 0.87% WO3 (not NI 43-101 compliant) .
Quintã – Távora Area:
 Drill program to test NW extensions of the main skarn horizon
Metallurgical test work
 Bulk sampling of skarn mineralization for metallurgical testing
Evaluation & pre-feasibility work – Regional Exploration
 Continued follow-up geological mapping, sampling, trenching and scout
drilling of regional targets
24

25. Regional Gold and Tungsten Targets*
Tabuaço tungsten Numão Au Prospect
project Up to 38.29 g/t Au
Almendra W Prospect
Up to 1.80% WO3
Penedono gold
project Muchões W Prospect
6 km strike length Santa Comba area
Up to : >200 ppm Ag;
Samples up to 2.90% WO3
5309 ppm Cu
*Press release June 7, 2010
25

26. Santa Margarida do
Sado Concession
• Targeting Volcanogenic Massive Sulphide (VMS)
deposits: copper, lead, zinc, silver and gold.
• Located within the Iberian Pyrite Belt (IPB), a
geological environment known for world-class
VMS deposits (see following table).
Index
• Concession adjacent to three known VMS
deposits:
 Lagoa Salgada: 2 MT @ 0.36% Cu, 4.44%
Pb, 5.03% Zn, 1.19 g/t Au and 74 g/t Ag
 Lousal (mine closed): 6 MT @ 0.7% Cu, Santa Margarida
0.8% Pb, 1.4% Zn, 1 g/t Au and 20 g/t Ag
 Caveira : exploited during Roman times
• Known geophysical anomalies have not been fully
tested; very limited drilling.
26 • Excellent infrastructure.

27. Santa Margarida do Sado
Concession - Location Map
LAGOA SALGADA
DEPOSIT
Tonnage ~ 2 MT @
Santa Margarida 0.36% Cu, 4.44% Pb, 5.03%
Zn, 1.19 g/t Au and 74 g/t Ag
do Sado
inferred mineral resource 2007
LOUSAL MINE
(closed in 1988)
Produced ~ 6 MT @
0.7% Cu, 0.8% Pb, 1.4%
Zn, 1 g/t Au and 20 g/t Ag
historical resource
27

28. Santa Margarida do Sado Concession
Importance of the Iberian Pyrite Belt (IPB)
Table - Comparison of ore Tonnage (Ore Mined plus Resources and
Reserves) from Massive Sulphide Deposits of Canada, Australia and IPB
Country Num. Tonnage Cu Pb Zn Ag Au
dep (Mt) (Mt) (Mt) (Mt) (t) (t)
Australia (Archean to Permian) 30 318 4.1 4.1 12.8 13345 486
Mount Read belt - Tasmania (Cambrian) 6 149 1.5 2.5 6.1 7423 156
Canada (Superior Province - Archean) 87 696 12.4 0.9 26.6 30621 669
Abitibi (Archean) 40 476 9.5 0.3 17.3 17284 575
Rouyn - Noranda + Val d'Or (Archean) 20 233 5.1 0.0 4.3 3995 528
Iberian Peninsula IPB (Dev. to Carbon.) 88 1 725 21.5 12.1 34.1 44707 898
Neves Corvo (by itself) 1 270 4.3 0.4 3.8 2 664 ?
Mt - Million metric tonnes; t - metric tonnes
(Adapted and modified after Leistel et al., 1998)
(source INETI - Portugal)
28

29. Santa Margarida do Sado Concession
Importance of the Iberian Pyrite Belt (IPB)
5 of 11 Supergiant VMS deposits in the world are located in
the Iberian Pyrite Belt, in Spain and Portugal.
Examples of Supergiant volcanogenic massive sulphide (VMS) deposits of the World:
Canadian deposits in red: IPB deposits outlined in yellow.
29 (Source: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007: GSC)

30. Why Colt Resources?
• A solid, experienced management team
• Large land package of very promising primarily gold and tungsten
properties that remain largely unexplored or under-explored
• Large concession within the prolific Iberian Pyrite Belt, a geological
environment that has potential for world-class base metal deposits
• Properties located in a stable and mining-friendly country of the EU
with easy access, excellent infrastructure and hard-working
available labour force
• Maintained excellent government relationships at both state and
municipal levels
• Currently reviewing potential EU financial incentive programs for
infrastructure
GTP – (CNSX)
P01 – (FRANKFURT, BERLIN)
COLTF – (USA Pink Sheets)
30

31. Contacts
Nikolas Perrault, CFA, President & CEO
Tel: +1 (514) 394-0009
E-mail: info@coltresources.com
Mario Justino, M.Sc., P.Geo., Vice-President Exploration
Tel: +1 (514) 394-0009
E-mail: info@coltresources.com
Aurelio Useche, CMA, Chief Financial Officer
Tel: +1 (514) 394-0009
E-mail: info@coltresources.com
Links
Company website: www.coltresources.com
Tungsten prices: Tungsten Prices - Metals Place
Gold prices: Technical Gold Charts and Data - London Fix
31