Company Summary

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Business Overview

Colt Resources Inc. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is the largest lease holder of mineral concessions.

Investment Highlights

We have:

  • A solid, experienced management team
  • Large land package of very promising primarily gold and tungsten properties that remain largely unexplored or under-explored
  • 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
  • The largest licensee lease holder in Portugal

Projects/Properties Info

Advanced Boa Fé / Montemor Gold Project
The Boa Fé Experimental Mining License (47Km²) is surounded by the Montemor Exploration Concession (728 Km²). Both are 100% controlled by Colt.

Boa Fé / Montemor is a highly prospective area known to host several near surface gold deposits hosted within a regional shear mapped to extend over 30km.  The deposits remain open along strike and to depth. Readily accessible, located 95km east of Lisbon, with excellent infrastructure including roads, railway, water supply and electricity. Significant historic database (confirmed to be NI43-101 compliant) and has been combined with Colts NI43-101 compliant drill database representing a total sampled drill interval of 117,077m.

SRK Consulting (UK) has prepared an NI 43-101 compliant mineral resource estimate, dated March 4, 2013 for 5 gold deposits within Boa Fé and 1 within Montemor.  The estimate reports Indicated Mineral Resources of 340,310 oz (6.07mt @ 1.74g/t Au) and Inferred Mineral Resources of 84,200 oz (1.55mt @ 1.69g/t Au). Cut-off grade of 0.44g/t Au.

Preliminary Economic Assessment (PEA), dated May 7, 2013 also prepared by SRK based on the 6 NI43-101 supported gold deposits.  Assuming open pit mining methods, the study considers 4 processing options, each of which delivered positive NPV5% and IRR results using conservative capital and operating cost estimates.  Using Colts preferred Option D (see PEA on company website), the study delivered a pre-tax NPV5% of $92.8m and IRR of 39.6% and a post-tax NPV5% of $64.3m and IRR of 30.2%.

 Environmental Impact Assessment is nearing completion and Feasibility Study is scheduled to be complete by year end 2013.

 Boa Fé and Montemor remain largely unexplored and the potential to increase resources remains high.

Strategic Tabuaço Tungsten Project
The Tabuaço Experimental Mining License (EML) is located in north central Portugal, with excellent infrastructure including roads, railway, water supply and electricity.

Tungsten is found as fine to coarse disseminations of scheelite within skarn horizons. The skarns are virtually devoid of sulphides and molybdenum, which is very favorable for potential mineral processing.

Preliminary metallurgical test-work suggests potential for high recovery using conventional processing methods. Press Release March 2, 2011 

High grade mineralization reported including: 1.50% WO₃ over 10.01m and 0.93% WO₃ over 13.34m including 1.05% WO₃ over 8.74m. Press Release September 18, 2012

SRK Consulting (UK) and SRK Exploration Services with inputs from SRK Denver has prepared an NI43-101 compliant mineral resource estimate, dated October 3, 2012, which Indicated Mineral Resources of 815,000 MTU (1.495mt @ 0.55% WO₃) and Inferred Mineral Resources of  720,000 MTU (1.23mt @ 0.59% WO₃). Cut off grade of 0.3% WO₃ .

Significant resource expansion potential.
Completion of Preliminary Economic Assessment (PEA) anticipated for Q2 2013

Management Bio

Nikolas Perrault, President & Chief Executive Officer

Mr. Nikolas Perrault is a Chartered Financial Analyst who has spent the first 15 years of his career working as an investment executive with some of Canada’s largest institutions, including National Bank, Merrill-Lynch, CIBC and Scotia Capital. Mr. Perrault holds a Bachelor of Commerce and obtained his Chartered Financial Analyst designation in 1997.

Shahab Jaffrey, Chief Financial Officer

Mr. Jaffrey is an experienced chartered accountant possessing strong commercial and technical skills with core expertise in financial reporting and advisory related issues having worked with large International and Canadian accounting firms. He possesses more than 13 years of experience across Australia, Canada, Russia, Kazakhstan, Pakistan and the Middle East with major clients being listed companies in the Mining and Oil & Gas sector. His last role was with Sherritt International Corporation as part of their senior internal audit and risk management team.

Declan Costelloe, Executive Vice President and Chief Operating Officer

Mr. Costelloe is a chartered engineer (UK Engineering Council) and a mining geologist with over 20 years experience. He serves on the boards of several public companies.

David A. Johnson, Chief Legal Officer and Corporate Secretary

Mr. Johnson is an attorney and trade-mark agent with his own law firm based in Montreal, Quebec, Canada. Mr. Johnson specializes in corporate law, commercial transactions and intellectual property.

Filipe Faria, Vice President, Exploration
Mr. Faria is a geologist with over thirty years experience in mineral exploration. Over the course of his career, he has been responsible of numerous geological and mineral exploration/evaluation projects for a number of domestic and international companies focusing in Western Europe and Southern Africa.

João Carlos Gaspar de Sousa, Vice President, Operations
Joao is a Senior Exploration Geologist with 28 years of experience including 5 years as the Country Manager for Iberian Resources Portugal (the former owner of Colt’s Montemor project)

Jorge Valente, Vice President, Engineering and Development
Mr Valente has over 40 years of extensive experience in the mining industry. He is the author of two books and many articles dealing with subjects of his specialty, some of which havebeen published in English.

Luis Martins, Advisory Board Chairman and Director Business & Development Europe
Luis Martins is a geologist with 30 years of experience in the exploration and mining sector. He has published over 100 national and international peer-review publications.

Contact Info:

General Inquiries
2000 McGill College Avenue, Suite 2010
Montreal, Quebec, Canada H3A 3H3
Tel: + (514) 843-7178   Fax: + (514) 843-7704
Nikolas Perrault, CFAPresident & Chief Executive Officer