Castle Resources Inc.
TSX VENTURE : CRI

November 19, 2007 18:13 ET

Castle Resources Inc. Initial Drilling Intersects 143 g/t Ag, 1.43 g/t Au, 1.23% Pb and 4.53% Zn Over 1.5 m at San Ramon Silver Project in Zacatecas, Mexico

-Phase 1 drilling confirms expanded mineralization in San Ramon Zone -Drill Hole SR07-01 intersects 199 g/t Ag over 1.5 meters -Drill Hole SR07-03 intersects 143 g/t Ag, 1.43 g/t Au, 1.23% Pb and 4.53% Zn

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Castle Resources Inc. ("Castle", or the "Company") (TSX VENTURE:CRI) is pleased to report the results from the first five diamond drill holes on its 100% owned San Ramon silver and base metals project in Zacatecas, Mexico. The property is directly adjacent to Capstone Mining Corp.'s recently opened Cozamin (copper, silver, lead, zinc) mine.

The drilling program begun in June 2007 is Castle's initial drilling at San Ramon, a property that has had no previous drilling despite a history of underground development. This first phase drill program was designed to test the depth and continuity of the San Ramon-Los Gatos Zone and to provide initial testing of the two additional known vein systems.

To date, 12 diamond drill holes totalling 3,400 meters have been completed covering the initial objectives. The results of the first five diamond drill holes indicate that the San Ramon mineralization continues to the west of the San Ramon shaft and to the east between the San Ramon and Los Gatos workings.



Significant results from Holes SR07-01 to SR07-05 include:

- 1.5 m averaging : 199 g/t Ag, and 0.595% Zn
- 6.0 meters averaging : 55 g/t Ag, 0.59 g/t Au, 0.94% Pb and 1.90% Zn
including 3.0 m averaging : 93 g/t Ag, 1.03 g/t Au, 1.07% Pb and 2.43% Zn
including 1.5 m averaging : 143 g/t Ag, 1.43 g/t Au, 1.23% Pb and 4.53% Zn

See table 1 below for additional results.


The first five drill holes targeted the area between the San Ramon and Los Gatos underground workings, covering approximately 300 meters of the La Platosa - Veta Fuerte vein system, beneath the Los Gatos working and west along strike from the San Ramon shaft.

Hole SR07-01 drilled 50 metres to the west of the San Ramon shaft intersecting a 1.5m zone grading 199 g/t Ag, 0.134% Pb and 0.595% Zn. This corresponds to the mineralized zone mapped in the San Ramon underground workings.

Holes SR07-02 and 03 drilled between the San Ramon and Los Gatos workings contain intersections linking the two known underground mineralized zones. Hole SR07-02 had a 1.5m intersection 107 g/t and 0.3% zinc. Hole SR07-03 had a 6.0m section grading 55 g/t Ag, 0.59 g/t Au, 0.94% Pb and 1.90% Zn; including a 1.5 m section 143 g/t Ag, 1.43 g/t Au, 1.23% Pb and 4.53% Zn.

Holes SR07-04 and 05 targeted beneath the shallow Los Gatos working resulted in anomalous silver and base metal intersections approximately 5 metres wide in both holes. The Company will further investigate this area of interest in future exploration.

The planned program was modified to 12 holes from 23 holes in order to give maximum coverage based on surface data developed during the program and topography. To date, a total of 3,400m have been completed. The balance of the drill program will be completed after all 12 holes have been assayed in order to allow the management to perform a full evaluation of the results. The ongoing sampling and surface mapping program is designed to confirm the location of known veins and to develop new targets. Sampling is also underway on two newly identified adits on the San Fernando vein.

"The results of these drill holes have confirmed and expanded the mineralization of the San Ramon zone," said Stephen Wallace, President and CEO of Castle Resources. "The significant zinc intersection in Hole 3 has added an exciting new dimension to the project."

Below is a summary of the significant zones in drill holes SR07-01 to SR07-05.



Table 1.
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Sample Hole From To Width Au Ag Pb Zn
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metres g/t g/t % %
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122012 SR07-01 31.4 33.0 1.6 0.005 15.4 0.0051 0.0205
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122013 SR07-01 33.0 34.5 1.5 0.161 199 0.1340 0.5950
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122014 SR07-01 34.5 36.0 1.5 0.009 22.4 0.0158 0.0226
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122018 SR07-02 66.0 67.5 1.5 0.255 107 0.0517 0.304

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122246 to SR07-03 47.7 53.7 6.0 0.588 55 0.9370 1.90
122249
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including
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122247 to SR07-03 49.2 52.2 3.0 1.027 93.3 1.215 3.54
122248
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including
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122246 SR07-03 47.7 49.2 1.5 0.087 19.9 0.791 0.222
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122247 SR07-03 49.2 50.7 1.5 1.43 143 1.23 4.53
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122248 SR07-03 50.7 52.2 1.5 0.623 43.6 1.20 2.55
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122249 SR07-03 52.2 53.7 1.5 0.213 13.5 0.526 0.298
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122030 SR07-04 38.5 39.8 1.3 0.079 25.8 0.0957 0.228
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122031 SR07-04 39.8 40.7 0.9 0.016 4.4 0.0098 0.0105
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122032 SR07-04 40.7 41.4 0.7 0.033 3.9 0.0135 0.0123
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122033 SR07-04 41.4 42.9 1.5 0.108 16.0 0.1060 0.0737
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122038 SR07-05 54.4 56.0 1.6 0.094 16.7 0.1010 0.2510
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122039 SR07-05 56.0 57.0 1.0 0.01 6.3 0.0057 0.0087
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122041 SR07-05 57.0 58.4 1.4 0.03 16.0 0.0511 0.1180
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122042 SR07-05 58.4 59.9 1.5 0.125 22.9 0.0927 0.1750
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- Note: True widths are approximately 85% of reported widths.
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The San Ramon Claim Group, located approximately five kilometres northeast of the city of Zacatecas in the Zacatecas mining district, is composed of eight concessions totalling 312.2 hectares. Over the last 450 years this region of Mexico has been one of the most prolific silver producing areas in the world. Capstone Mining Corp. is continuing this trend with the opening of its Cozamin mine in 2006 on concessions directly adjacent to Castle Resources Inc.'s properties.

About the Company

Castle Resources Inc. is a Toronto-based junior mineral exploration company focusing on high-quality advanced exploration projects in Mexico. The Company's initial focus is on silver exploration and development in Zacatecas, Mexico, one of the most prolific silver camps in Mexico and the world. Management's goal is to quickly advance current projects and to seek additional opportunities to continue to add value for shareholders.

This news release has been reviewed and approved by Stephen Wallace P.Geo., a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. QA/QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then split in half during the sampling process with the remaining half being retained for verification and reference purposes. Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect the financial results is included in documents filed from time to time with Canadian securities regulatory authorities by the Company.

The Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Castle Resources Inc.
    Stephen Wallace P.Geo.
    President and Chief Executive Officer
    (416) 619-0801
    or
    Castle Resources Inc.
    Maurizio Fava
    Vice-President, Corporate Development
    (416) 917-1812
    Website: www.castleresources.com