May 14, 2012                                                                                                

TSX-V Symbol: CTR

Mr. Arndt Roehlig reports:

Vancouver, BC: Coltstar Ventures Inc. (the “Company”) announces the board of directors has decided to eliminate the office of Corporate Development held by Stephen Burega since a Cease Trade Order (“CTO”) has recently been issued by the British Columbia Securities Commission. The CTO was issued for failure to file financial statements and accompanying MD&A. Management’s current focus is working with its auditors to get the audit completed and to address the CTO.

On behalf of the Board of Directors:

 

/s/ “Arndt Roehlig”

Chief Executive Officer, President and Director

 

For further information please contact:

Arndt Roehlig

Telephone: (604) 569-1236