May 11, 2012                                                                                                

TSX-V Symbol: CTR


Mr. Arndt Roehlig reports:

Vancouver, BC: Coltstar Ventures Inc. (the “Company”) announces it has accepted the resignation of Garry Stock as Chief Financial Officer (“CFO”) effective immediately.

Concurrently, a member of the Board of Directors, Jon Lever has been appointed interim CFO of the Company.

Mr. Lever will be working closely with the Company’s auditors, Davidson & Company on outstanding audit issues. The Company will provide updates regarding the completion of the audit as progress is made.

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