Carlisle Goldfields Limited

July 12, 2011 17:32 ET

Carlisle Goldfields Grants Options to New Director and Announces Appointment of CFO and Controller

TORONTO, ONTARIO--(Marketwire - July 12, 2011) - Carlisle Goldfields Limited ("Carlisle" or the "Company") (TSX:CGJ) is pleased to announce the appointment of James Macintosh as a director of Carlisle. Mr. Macintosh has more than 25 years of experience in the mining industry and as a mining analyst. As part of his compensation, Mr. Macintosh has been granted options to purchase 350,000 common shares of Carlisle at an exercise price of $0.30 per share. The options are exercisable within five (5) years from the date of grant.

The Company is also pleased to announce the appointment of Anita Bailey as Controller and the appointment of Julio DiGirolamo as Chief Financial Officer, replacing Donald A. Sheldon, who will continue as a director as well as Chief Administrative Officer and Corporate Secretary. Mr. DiGirolamo is a Chartered Accountant with over 16 years of senior-level public company experience, including five years as an officer of a TSX and NASDAQ listed gold mining company with activities focused in Latin America. For over 23 years, Ms. Bailey has been providing financial services to both publicly-listed and privately-held mining companies.

"We are very pleased to have James, Julio and Anita join Carlisle. The addition of such qualified and capable people to our team is a very positive development," says Bruce Reid, President and Chief Executive Office of Carlisle.

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.

In mid-2010 (see News Release dated July 26, 2010), Carlisle announced a NI 43-101 compliant Resource Estimate on the MacLellan Gold Property in Lynn Lake, Manitoba, which included Total Open Pit and Underground Resources having increased to 5.3 million tonnes containing 658,200 ounces of AuEq (Gold Equivalent) at an average grade of 3.85 g/t AuEq in the Measured and Indicated categories and 4.4 million tonnes containing 506,200 ounces of AuEq at an average grade of 3.56 g/t AuEq in the Inferred category.

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 potential benefits associated with the hiring of Carlisle's new Chief Financial Officer and Controller, that involve various known and unknown risks and uncertainties and other factors, such as general market trends that impact the mining sector, including the ability of mining companies to obtain financing. 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 the Investment Industry Regulatory Organization of Canada nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

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