Coltstar Announces Convertible Debenture Financing

COLTSTAR VENTURES INC.

Coltstar Ventures Inc.

909 Bowron Street Coquitlam, British Columbia V3J 7W3

COLTSTAR ANNOUNCES CONVERTIBLE DEBENTURE FINANCING

March 17, 2010 TSX Venture Exchange Canadian Trading Symbol: CTR

Adrian Rollke, President of Coltstar Ventures Inc. ("Coltstar"), announces that Coltstar is proposing a non-brokered private placement of convertible debentures to raise gross proceeds of $105,000. The debentures mature 5 years from the date of issue and are convertible, at the option of the holder, into Units of Coltstar at a price of $0.15 per Unit. Each Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of Coltstar at a purchase price of $0.15 for 5 years from the relevant closing of the sale of the debentures. The debentures will bear interest at a rate of 10 percent per year.

Pursuant to the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the private placement of debentures is classified as a "related party" transaction as JAT001 Holdings Ltd., an insider and control person of Coltstar (the "Related Party"), is purchasing the debentures.

The Board determined that the exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101, are available since the aggregate consideration to be paid to the Related Party is reasonable and does not exceed 25% of the market capitalization of Coltstar as at March 17, 2010. Furthermore, the market value of the consideration paid by the Related Party in connection with the private placement of debentures is for an amount less than $2,500,000.

The proposed private placement is subject to the approval of the TSX Venture Exchange and all securities issued will be subject to a standard four-month hold period.

On behalf of the Board of Directors

"Adrian Rollke"

President, Chief Executive Officer and Director

For further information please contact:

Garry Stock Telephone: (604) 683-8236

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.