RARE EARTHS, SPECIALITY & MINOR METALS INVESTMENT SUMMIT

THE LONDON CHAMBER OF COMMERCE AND INDUSTRY ● THURSDAY, 18 MARCH 2010www.ObjectiveCapitalConferences.com

Investment Conferences

3.45 – 4.10 Challenges of developing a new European tungsten projectNikolas Perrault – CEO, Colt Resources

Gold, Tungsten, and Base Metal Projects in Portugal

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.

A Canadian junior exploration companyWith experienced dynamic management

Determined to become a producer within 24 months

WHO WE ARE…

with AN EXPERIENCED MANAGEMENT TEAMDirectors and Officers

Nikolas Perrault, CFA, President and CEOMario Justino, M.Sc., P. Geo., Vice-President ExplorationAurelio Useche, CMA, Director & Chief Financial OfficerDavid Johnson, B.A.(Hons.),LL.B. Attorney, Director J. Wayne Murton, P.Eng., DirectorJames Ladner, Director

Exploration TeamMario Justino, M.Sc., P. Geo., Vice-President ExplorationJ. Wayne Murton, P.Eng., Geologist and Mining ConsultantFilipe Faria, Geologist and Principal Consultant in PortugalJorge Valente, P.Eng., CEO, Eurocolt Resources Ltda.:

(the wholly owned subsidiary of COLT in Portugal)

Advisory BoardJean Depatie, Montréal, QuébecDeclan Costelloe, Lakewood, Colorado,Kevin Ernst, New York, New YorkJohn D. Redfern, Montréal, Québec

FINANCIAL PERSPECTIVES Shares Outstanding: 28.9 million

Shares fully diluted: 50.5 million

Market capitalization: $8.7 million

Average exercise price

of warrants and options: $0.26 per share

Significant management ownership andStrong shareholder base As of February 12 , 2010

Listed on the Canadian National Stock Exchange under GTP

Listed on Frankfurt and Berlin Exchanges under the Symbol P01

Portugal is a stable and mining friendly country of the EuropeanUnion, with exceptional geological potential that remains largelyunder-explored.

EUPortugal

Town of Penedono: Northern Portugal

Exploration Properties in Portugal

Location of Properties

Penedono Gold

Armamar - Meda Tungsten - Gold

Moimenta -Almendra

Gold –Tungsten -Tin

Santa Margarida do Sado

Massive Sulphides (VMS):Cu Pb Zn (Ag, Au)

Concession Name Principal commodity

Northern Portugal

Central Western Area

Properties in Portugal: total land package

Property description

Concession Name Principal commodity Area

Penedono Gold 102 km2

Armamar - Meda Tungsten - Gold 436 km2

Moimenta - Almendra Gold –Tungsten - Tin 566 km2

Santa Margarida do Sado

Massive Sulphides :Cu Pb Zn (Ag, Au) 360 km2

Total: ~ 1,464 km2

Colt has assembled a significant land package and is currently the second largest holder of mineral exploration rights in Portugal.

Tabuaço Tungsten Project

Penedono Gold Project

Penedono

Concession

Penedono Gold Concession: Location Map

Mineralization comprised of widespread clustersof gold-bearing vein systems, locally containingtungsten mineralization.

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) 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 throughoutthe concession, with a supportive local population

Index

Penedono

Penedono Gold Concession: Overview

Penedono:

Extent of gold-bearing vein sets over NW

zone

16 km long

Santo Antonio Gold Mine(closed)

Penedono Concession

outline

Vein sets

(Modified after W. Gruenwald, 2008)

Penedono Concession Sept. 2009

(after 50% reduction 2008)

Explored and exploited for gold since theRoman times.

In the mid-1950’s, the Santo Antonio goldmine went into production and operatedfor at least 3 years. Tenuous records indicate perhaps

110,000 tonnes of material wereprocessed with perhaps 331,000grams of gold recovered.

Grade possibly up to 14 g/t Au (sourceINETI).

Very limited modern exploration.

Only 5 drilling campaigns completed since1996, with a total of 5,233 meters in 46shallow holes. More then half targeted theSanto Antonio vein system.

San Antonio vein mined by the Romans

Penedono Concession: Exploration History

Acquired concession from Rio Narcea in June 2007. Comprised of several distinct clusters of auriferous quartz veins, with

seven key areas outlined to date. Exploration focused on the Santo Antonio vein system - 13 en-echelon,

northeast trending veins outcropping over a 1.2 by 1 km area on theproject

Limited shallow drilling in 2008-2010 by Colt on Veins 11 and 13. Theseveins, which had never been drill tested before, produced several high-grade gold intersections*: (see following slide). 180.57 g/t over 0.38 m 87.04 g/t over 1.00 m included in 39.67 g/t over 2.23 m 34.40 g/t over 0.87 m included in 24.05 g/t over 1.87 m 26.56 g/t over 0.56 m included in 13.35 g/t over 1.41 m 18.37 g/t over 1.54 m included in 5.89 g/t over 8.14 m*drill hole interval widths

NI 43-101 Technical Report completedDecember 2008.

Penedono Concession: Colt Exploration Results

Colt 2008 – 2010 Drilling: Significant Gold Results

Santo Antonio veins: # 11 and 13

Vein 11•180.57 g/t over 0.38 m

•5.89 g/t over 8.14 mincl. 18.37 g/t over 1.54 m

• 8.34 g/t over 6.74 mincl. 7.00 g/t over 1.39 mincl. 24.05 g/t over 1.87 m

incl. 15.04 g/t over 1.00 mincl. 34.40 g/t over 0.87 m

Vein 13• 39.67 g/t over 2.23 m

incl. 59.99 g/t over 1.47 mincl. 87.04 g/t over 1.00 m

• 13.35 g/t over 1.41 mincl. 26.56 g/t over 0.56 m

13.35 g/t /1.41 m

39.67 g/t /2.23 m

Vein #11

5.89 g/t /8.14 m

8.34 g/t /6.74 m

Vein #13

180.57 g/t /0.38 m

The Penedono Project has potentialfor: high-grade vein gold depositsand low grade open pit gold zones.

Although the Santo Antonio veinsystem remains a major target forfurther drilling by Colt, other areas ofwidespread vein clusters as well asvast gold-in-soil anomalies remainlargely under-explored and have notbeen drill tested.

Interpretation and Conclusions: “It isapparent that there existhydrothermal systems with thecapacity and potential to hostsignificant gold and tungstendeposits.” (according to NI 43-101report)

Penedono Concession: Outlook

Penedono: Drill rig in operation

•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).

•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 AgLousal (mine closed): 6 MT @ 0.7% Cu, 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.

•Excellent infrastructure.

Index

Santa Margarida

Santa Margarida do Sado Concession

LAGOA SALGADA DEPOSIT

Tonnage ~ 2 MT @

0.36% Cu, 4.44% Pb, 5.03% Zn, 1.19 g/t Au and 74 g/t Aginferred mineral resource 2007

Santa Margarida

do Sado

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 Aghistorical resource

Santa Margarida do Sado: Location Map

Country Num. dep

Tonnage(Mt)

Cu(Mt)

Pb(Mt)

Zn(Mt)

Ag(t)

Au(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 ?

Table - Comparison of ore Tonnage (Ore Mined plus Resources and Reserves)From Massive Sulphide Deposits of Canada, Australia and IPB

Mt - Million metric tonnes; t - metric tonnes(Adapted and modified after Leistel et al., 1998)

Importance of the Iberian Pyrite Belt (IPB)

(source INETI - Portugal)

Santa Margarida do Sado Concession

Note: 5 of 11 Supergiant VMS deposits in the world are located in the Iberian Pyrite Belt, in Spain and Portugal.

(Source: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007: GSC)

Examples of large-tonnage volcanogenic massive sulphide (VMS) deposits of the World. Canadian deposits in red: IPB deposits outlined in yellow.

Importance of the Iberian Pyrite Belt (IPB)

Santa Margarida do Sado Concession

In the 1970’s, tungsten bearing skarns were discovered by government geologists south of the Tabuaço area.

Mineralization at Tabuaço consists of gently dipping, well-developed skarn horizons, up to 19 m thick, with significant scheelite (CaWO4).

In 1981-1982, a SPE/BRGM consortium drilled 6 holes leading to a historical resource at Tabuaço of :

~1million 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 “ample justification to recommend continued exploration on the concession.”

Index

Armamar -Meda

Armamar – Meda Concession: Tabuaço Tungsten Project

Penedono Gold Project

Tabuaço Tungsten Project

Armamar –Meda

Concession

Armamar – Meda Concession: Tabuaço Tungsten Project - Location Map

Tabuaço Tungsten Project : Property View

Terrain photo looking northwest

Geology Map - Tabuaço Tungsten Project

S. Pedro das Águias ZoneHistorical resource of 1.0 M

tonnes @ 0.87% WO3

Upper skarn horizon

Lower skarn horizons

Granite

Metasediments

Quinta ZoneExposed skarn

horizon

NW trending

longitudinal trace

2.1 km long

NW trending longitudinal section: some 2.1 km long

Quinta ZoneExposed skarn

horizon

S. Pedro das Águias ZoneHistorical resource of 1.0 M

tonnes @ 0.87% WO3

Upper skarn horizon

Lower skarn horizons

Tabuaço Tungsten Project: longitudinal section

Approximate surface outline of

SPE-BRGM, 1982 Resource Estimate of

~1 Million tonnes @ 0.87 % WO3

(not NI 43-101 compliant)

Tabuaço Tungsten ProjectS. Pedro das Águias Zone – Plan Map

N

B

Cross-section A – B: S. Pedro das Águias ZoneUpper and lower horizon results

Note: Panasqueira tungsten mine, located some 100 kmsouth of Tabuaço, hosts P&P Reserves of 2.43 MT @0.243% WO3 . (Source : Primary Metals, 2007)

Tabuaço Tungsten Project: High-Grade Tungsten Surface mapping, prospecting, channel and rock sampling completed on

skarn horizons by Colt since 2008. Selected surface and channel results from sampling: include:

São Pedro das Águias Zone – main skarn horizon: surface avg. gradeof 0.673% WO3; average from 23 channel samples taken across thewidth of the horizon, but over a total outcrop extension of 260 m.

São Pedro das Águias Zone - main skarn horizon: 0.45% WO3 over23.3 m: average from 6 samples collected over continuous width of23.3 m; including 0.78 % WO3 over 12.45 m.

Several samples from areas along strike returned values above 0.5 % WO3

Many samples also displayed elevated tin assay values

Tabuaço Tungsten Project: Recent Drill Results Drilling recently initialed by Colt on the São Pedro das Águias Zone to

confirm and expand on historical resource of ~1.0 million tonnes grading0.87% WO3 (non NI 43-101 compliant) has returned following results todate:

Hole DHT-01B: (press release January 20, 2010 )

4.75 m grading 0.52% WO3;

18.80 m grading 0.73% WO3;

includes 2.10 m grading 1.01% WO3 includes 13.77 m grading 0.84% WO3, which includes 3.00 m grading 1.14% WO3 and 6.32 m grading 0.99% WO3.

Hole DHT-02: (press release February 3, 2010)

13.60 m grading 0.93% WO3

includes 10.35 m grading 1.17% WO3, which includes 5.0 m grading 1.44% WO3

Hole DHT-01B: 18.80 m grading 0.73% WO3

Hole DHT-02: 13.60 m grading 0.93% WO3

Tabuaço Tungsten Project: OutlookDrilling:São Pedro das Águias Area:

~4,200 m drill program to confirm and expand on the historicalresource of ~1.0 million tonnes grading 0.87% WO3 (not NI 43-101compliant) .

Quintã – Távora Area: ~1,000 m drill program to test NW extensions of the main skarn

horizon

Metallurgical testwork: Bulk sampling of skarn mineralization for metallurgical testing

Evaluation & pre-feasibility workRegional Exploration:

Continued follow-up geological mapping, sampling, trenching and scout drilling of regional targets

IN CONCLUSIONColt Resources Inc. is well poised to take advantage of the strong anticipated movement is junior gold and mineral exploration stock prices with :

• A solid and 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 with potential for world-class base metal deposits,

• Properties are located in a stable and mining-friendly country, have easy access and excellent infrastructure.

Please visit us at www.coltresources.com

Thank you