Coltstar Announces Closing of Convertible Debenture Financing

Coltstar Ventures Inc.

Suite 1680, 200 Burrard Street Vancouver, BC Canada V6C 3L6

COLTSTAR ANNOUNCES CLOSING OF CONVERTIBLE DEBENTURE FINANCING

June 8, 2010 TSX Venture Exchange Canadian Trading Symbol: CTR

Coltstar Ventures Inc. (the "Company") announces that it has closed its non-brokered private placement (the "Offering") of convertible debentures announced March 17, 2010 and amended on May 3, 2010 (the "Debentures") at a price of $0.30 per unit for gross proceeds of Cdn $105,000. The Debentures are convertible at the option of the holder, into units of the Company at a price of $0.30 per unit, each unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable for one common share of the Company at a price of $0.30 for five years from May 13, 2010. The common shares issued under the Offering and upon exercise of the warrants are subject to a four-month hold period expiring on October 13, 2010.

The Company is a mineral exploration company that is currently exploring for base and precious metals in Europe and Canada.

On behalf of the Board of Directors

“Damien Reynolds”

Chairman, President and CEO of Coltstar Ventures Inc.

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.