Castillian Resources Corp.
TSX VENTURE : CT

Castillian Resources Corp.

July 14, 2011 07:30 ET

Castillian Commences Exploration at Canadian Creek Property, Yukon

Ties onto Kaminak's Sugar Gold-in-Soil Trend

TORONTO, ONTARIO--(Marketwire - July 14, 2011) - Castillian Resources Corp. ("Castillian" or the "Company") (TSX VENTURE:CT) is pleased to announce that it has commenced exploration at its Canadian Creek property ("Canadian Creek" or the "Property") in the highly prospective Tintina Gold Belt of central Yukon. The Property consists of 320 claims covering approximately 6,180 hectares located 160 kilometres south of Dawson and approximately 50 kilometres southeast of the White (Underworld/Kinross) gold discovery and 25 kilometres southeast of the Coffee (Kaminak) gold discovery (see Figure 1). As previously announced, Castillian has an option to acquire a 60% interest in the Property from Cariboo Rose Resources Ltd.

The Castillian 2011 phase 1 exploration program, which is budgeted at $1.1 million, will initially focus on completing soil geochemical coverage over the entire Property followed by trenching/geology, ground magnetic and induced polarization surveys to define prospective structures and drill targets. The trenching/geology program will initially focus on the six existing gold-in-soil trends defined on the Property from previous soil geochemistry programs. As shown in Figure 2, a compilation map of historical exploration data, only about 50% of the Property was previously covered by soil geochemical sampling leaving significant room for further gold-in-soil anomaly discoveries. There is a significant gap between previous soil geochemical coverage and the boundary with the Kaminak property as shown in Figure 2. On July 12, 2011, Castillian was granted a Class 3 exploration permit for five years of proposed activity on the Property including drilling, extension of access trails, trenching and other key activities by Yukon Energy Mines and Resources.

Dr. Bill Pearson, P.Geo., President & CEO commented: "We are delighted to begin exploration on this highly prospective property which has the potential to be a core asset for Castillian. The entire area will be the focus of intense exploration this summer. We have a very strong exploration team on site and work is progressing very rapidly."

Canadian Creek ties onto the Kaminak Gold Corporation ("Kaminak") claims and is immediately south of the recently discovered "Sugar gold-in-soil trend" on the southeastern side of the Kaminak claims. The very large tonnage low grade Casino copper-gold-molybdenum porphyry deposit owned by Western Copper is located immediately east of the Property (see Figure 1).

The geology and previous exploration on the Property is outlined in an NI 43-101 technical report entitled "Summary Report on the Canadian Creek Property, Whitehorse Mining District, Yukon Territory, with Recommendations for Continuing Exploration" authored by R.J. Johnston, P.Geo. and Colin W.P. Russell, P.Geo., dated April 15, 2011 and can be found on SEDAR. Mr. Johnston, who previously carried out exploration on the Property is a qualified person as defined by NI 43-101 and Mr. Russell is an independent qualified person as defined by NI 43-101. The report recommends a two-phased $3 million exploration program.

Mr. Kevin Brewer P.Geo., Manager, Yukon for Castillian and Mr. Tony Gilman, P.Eng., Consulting Geological Engineer with Terrane Geoscience Inc., both of whom are qualified persons as defined by National Instrument 43-101 ("NI 43-101"), have reviewed and approved the scientific and technical content of this press release.

About Castillian Resources

Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT", which has gold and base metal properties in Canada and South America. Castillian's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland, where it is carrying out a 25,000 metre diamond drill program.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the exploration on the Property, the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures,. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; acquisition risks, the actual results of current exploration activities; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; the Property not being integrated successfully or such integration proving more difficult, time consuming or costly than expected,; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry; and, delays in obtaining governmental approvals or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ct_fgs_714.pdf

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information