TORONTO, ONTARIO--(Marketwire - Nov. 15, 2012) - Carlisle Goldfields Limited ("Carlisle" or the "Company") (TSX:CGJ)(OTCQX:CGJCF) announces that it has appointed Jennifer Boyle to the Board of Directors, subject to TSX approval.
For almost 20 years, Ms. Boyle has been active in the junior resource sector, focusing on corporate-finance transactions. Ms. Boyle was the Chief Executive Officer of St. Eugene Mining Corporation prior to its acquisition earlier this year by Claude Resources Inc. and is now the President and Chief Executive Officer of Satori Resources Inc. (TSX VENTURE:BUD), a spinout company created from the acquisition of St. Eugene. Ms. Boyle also acts as the President of Takara Resources Inc. and, in addition to her appointment as a director of Carlisle, she sits on the board of directors of Nevada Exploration Inc. (TSX VENTURE:NGE), Satori and Takara. Prior to her direct experience with junior resource companies, Ms. Boyle was a corporate securities lawyer with a focus on junior resource companies.
Carlisle's President and Chief Executive Officer, Bruce Reid, commented, "Jennifer's experience in joint ventures and other corporate finance transactions is an asset to Carlisle moving forward through our current stage of development. We are pleased to have Jennifer and the experience she brings, as part of our team."
About Carlisle: Carlisle Goldfields Limited is a Canadian‐based gold exploration and development company, focused on development of its mining leases and claims in the Lynn Lake Greenstone Belt of Northern Manitoba, covering approximately 20,000 hectares which include the former MacLellan Gold mine and two other former producing gold mines as well as numerous other historically identified Gold Zones all within close distance of the town of Lynn Lake.
In March 2012 (see News Release dated March 13, 2012), Carlisle announced an updated Resource Estimate on its MacLellan Gold Project in Lynn Lake, Manitoba. This included Open Pit and Underground Resources in the Measured and Indicated Categories having increased to 32.4 million tonnes containing 2,018,100 ounces of AuEq at an average grade of 1.94 g/t AuEq (1.9 g/t Au and 4.4g/t Ag). The pit‐contained Measured and Indicated categories of 29.9 million tonnes contain 1.7 million ounces of AuEq at an average grade of 1.8g/t AuEq (1.7 g/t Au and 4.4g/t Ag). The current Measured and Indicated Categories represent 94% of this total resource estimate.
In September 2012 (see News Release dated September 24, 2012), Carlisle announced its initial Burnt Timber Project Inferred Resource estimate totaling 23,438,000 tonnes containing 780,500 ounces of gold ("Au") at an average grade of 1.04 grams per tonne ("g/t"). The Indicated Resource is estimated to be 1,021,000 tonnes containing 45,900 ounces of gold at an average grade of 1.40 g/t. The Company's new resource estimate used a 0.4 g/t cut off to a depth of 170 metres from surface.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Company's shares and other securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-Looking Statements", including the establishment and estimate of resources, that involve various known and unknown risks and uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, Carlisle expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of this release.