Coltstar Announces First Closing of Private Placement of 1,319,928 Units

Coltstar Ventures Inc.

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

COLTSTAR ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT OF 1,319,928 UNITS

April 28, 2010 TSX Venture Exchange Canadian Trading Symbol: CTR

Coltstar Ventures Inc. (the "Company") announces that it has closed the first tranche of its private placement (the "Offering") of a total of 1,319,928 units (the "Units") at a price of $0.35 per Unit for gross proceeds of Cdn $461,975. The Offering was previously announced by the Company on April 7, 2010. Each Unit consists of one common share and one quarter of one common share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional common share of the Company for one year from April 26, 2010, at a price of $0.50 per share. The common shares issued under the Offering and upon exercise of the Warrants are subject to a four-month hold period expiring on August 27, 2010. Two directors of the Company subscribed for a total of 290,000 Units under the Offering.

The Company expects to close the remaining offerings for units within the next two weeks.

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.

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