Castillian Resources Corp.

Castillian Resources Corp.

July 13, 2005 12:00 ET

Castilian/Falconbridge Joint Venture Adds to Landholdings on the Mangabal Nickel Project in Central Brazil

TORONTO, ONTARIO--(CCNMatthews - July 13, 2005) - The CASTILLIAN RESOURCES CORP. ("Castillian") (TSX VENTURE:CT), and FALCONBRIDGE LIMITED ("Falconbridge") joint venture has added 55,715 hectares onto the Mangabal Nickel project making the total project size 131,800 hectares. The additional land position was prompted by an interpretation of magnetic features suggesting the possibility of continued nickel/copper hostings outside areas controlled by the joint venture.

With the recent release of Brazilian government sponsored airborne surveys, there has been increased activity in the area, particularly from international major base metal producers. Falconbridge's work over the past two years indicates strong potential for a previously overlooked large-scale sulphide nickel-copper deposit within the project intrusives. All data has been compiled and interpreted by Falconbridge. Exploration activities have been accelerated since the joint venture agreement. The current exploration program has already completed 55 kilometres of grid mapping-sampling, regional prospecting of new areas, soil sampling, and detailed mapping. In addition, more than 180 line kilometres of line-cutting has been completed in preparation for ground geophysical confirmation surveys scheduled for this summer. The surveys are in anticipation of drill-testing coincident geochemical and geophysical targets in September.

"I am very pleased with the Falconbridge exploration group in Brazil, and in particular the competent exploration team on-site at the Mangabal project. The Project has tremendous potential with targets ranging from drill ready to grass-roots. This new airborne data also opens previously covered territory to Falconbridge's advanced exploration techniques on the recently acquired property. This project is being fast-tracked for discovery of mining camp-scale nickel/copper deposits." commented Castillian President & C.E.O. John Buckle, P.Geo.

Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange. The company is focused on acquiring, exploring and developing Nickel-Copper, polymetallic and base metal deposits in Latin America. Inventories of base metals are diminishing at historical rates with a prognosis for ever increasing consumption. Although the Brazilian shield has potential for mining-camp scale base metal deposits, this region has rarely seen the application of modern exploration technology. Also largely overlooked, is the potential for volcanogenic massive sulphide and polymetallic deposits in the Andean Cordillera. Recently restructured, Castillian Resources has targeted these potential resources, commencing with the high-profile Mangabal Joint Venture with Falconbridge Brasil Ltda.

Contact Information

  • Castillian Resources Corp.
    John Buckle
    President & CEO
    (905) 517-6555
    Castillian Resources Corp.
    Julian Bharti
    Shareholder Communications
    (416) 861-5907
    (416) 861-8165 (FAX)