Ridge Acquisition Terminated

Coltstar Ventures Inc.

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

February 24, 2011 TSX Venture Exchange Canadian Trading Symbol: CTR

RIDGE ACQUISITION TERMINATED

Coltstar Ventures Inc. ("Coltstar") announces that the acquisition of Ridge Exploration Pty Ltd (“Ridge”) has been terminated. Coltstar will not be issuing 10 million shares and Ridge shareholders will not be nominating a member to Coltstar’s board of directors. Coltstar currently has 30,408,102 shares issued and outstanding.

Coltstar Ventures Inc. is a mineral exploration company that is currently exploring for iron ore and precious metals in Europe and Canada. www.coltstarventures.com

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.