Colt Resources Inc.

Colt also lodged a performance bond in the form of a bank guarantee for the amount of €50,000 in favour of the Portuguese Government
Colt is also obligated to pay to the Portuguese Government Exploration License fees, as follows:
- €5,125 on or before October 29, 2008 (already paid)
- €2,562.50 on or before October 29, 2009
Should the property be placed into commercial production, Colt is obligated to pay 4% Net Smelter Returns Royalty to the Portuguese Government