Castle Resources Inc.

August 10, 2009 10:12 ET

Castle Resources Begins New Drill Program at the Elmtree Gold Project

- 5,000 meter drilling program aims to expand resource and test boundaries of 3 principle exploration zones - Goal to upgrade a significant portion of the Inferred and Indicated resource (2008 NI 43-101 resource at Elmtree of 225,000 ounces Au)

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Castle Resources Limited (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce that a 5,000 meter drilling program has begun to advance the exploration and development of the Elmtree Gold Project near Bathurst, New Brunswick.

"We are excited to commence drilling at Elmtree," said Mr. Stephen Shefsky, President & CEO of Castle Resources Ltd. "The aim of this program is to further define the gold resource, increase economic-grade tonnage and ultimately improve our geological understanding. In addition, Elmtree has excellent potential given its proximity to the infrastructure of the Bathurst Mining Camp and the favourable New Brunswick mining jurisdiction."

The Elmtree property (85 claims, 1,375 hectares) hosts at least three gold-bearing zones, the higher grade West Gabbro Zone, original Discovery Zone and the larger tonnage, lower grade South Gold Zone. A portion of the Discovery Zone contains significant stringer mineralization with appreciable zinc-lead-antimony-gold-silver-indium values.

In 2008 a NI 43-101 compliant resource estimate reported 525,000 indicated tonnes in the West Gabbro Zone grading 2.45 g/t gold (41,000 ounces gold); 4,624,000 inferred tonnes in all 3 gold bearing zones at an average grade of 1.25 g/t gold (185,500 ounces gold).

The initial focus of the drill program will be the West Gabbro Zone with the objective of expanding the current resource and delineating the extent of the high-grade gold mineralization. Holes will test the eastern and western extension of the WGZ along strike and will also test deeper portions of the West Gabbro Zone. In addition, several holes have been designed to twin historical holes drilled by Lancana Mining Corp. to verify data for future resource calculations.

For the South Gold Zone and Discovery Zone, the primary objective is to test the unexplored claims and test for deeper intersections surrounding known mineralization. In addition, an IP target will be tested south of the SGZ which was identified from an IP reinterpretation and physical data collection program conducted recently by geophysicist Chris Hale of Intelligent Exploration (see website: The drill program is expected to take three months to complete with results from the first holes expected to be received in about 4 to 6 weeks.

Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work discussed as defined under National Instrument 43-101 and has reviewed this press release.

About Castle Resources

Castle Resources Inc. is a Toronto-based junior mineral exploration company focusing on high-quality, advanced exploration gold projects. Management's goal is to quickly advance the new Elmtree option and to seek additional opportunities to continue to add value for shareholders. For more information please visit the Castle Resources' website at


Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes","may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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