Castillian Resources Corp.
TSX VENTURE : CT

Castillian Resources Corp.

February 28, 2008 08:00 ET

Castillian Intersects 14.40 Meters Grading 1.05% Nickel and 0.33% Copper, Provides Remaining Drill Results for 2007 Delineation Drilling, Mangabal South Nickel-Copper Deposit, Brazil

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2008) - Castillian Resources Corporation (TSX VENTURE:CT) announces remaining drill results from drilling completed up to the end of 2007 on the near-surface Mangabal South deposit in Goias State, Brazil (Figure 1). Since the previous news release on Jan 11, 2008 all remaining assay results have been received. These holes, along with previously released drill holes, will form the basis of a forthcoming resource estimate for the Mangabal South Deposit. Highlights from this drilling are included in Table 1 below, including hole CRMS-07-060 which intersected 15.55 meters grading 0.91% nickel and 0.46% copper; hole CRMS-07-076 which intersected 14.40 meters grading 1.05% nickel and 0.33% copper; hole CRMS-07-085 which intersected 9.00 meters grading 1.18% nickel and 0.39% copper and hole CRMS-07-086 which intersected 7.00 meters grading 0.99% nickel and 0.38% copper. A summary of all remaining results is listed in Table 2 at the end of this news release (see Figure 2 and 3 for hole locations), including drill holes completed outside of the mineralized zone to establish the limits of the deposit. A complete summary of results from 90 drill holes including those previously released, will be posted on Castillian's web site.

The Mangabal Project concessions cover approximately 153,000 hectares over mafic/ultramafic intrusive rocks that have intruded into a Proterozoic basin adjacent to an Archean craton boundary. This structural setting is comparable to most major nickel sulphide mining camps globally including Jinchuan - China, Thompson -- Canada, Kabanga --Tanzania and Pechenga - Russia. The Mangabal South deposit occurs within the Mangabal mafic-ultramafic intrusion which is one of at least fourteen such intrusives within Castillian's extensive property position. The deposit has a pipe-like morphology and extends from surface in the northeast to approximately 175 meters vertical depth at its southwestern end. The deposit plunges shallowly at approximately 15 degrees to the southwest and extends along the plunge for approximately 450 meters. The sulphide mineralization, comprising pyhrrotite, pentlandite and chalcopyrite, is hosted within olivine-bearing melanorite to peridotite intrusive rocks as massive, semi massive to net textured and disseminated magmatic sulphides which are locally remobilized into veins. The Mangabal intrusion is internally folded and variably metamorphosed with the Mangabal South deposit occurring in an area of lower deformation than adjacent mafic gneisses and amphibolites. The geological setting is very similar to the Americano intrusion approximately 20 kilometres to the east where the Americano nickel mine has been in production since September, 2006.

The deposit appears to be cut off by a fault at the down plunge limit (Figure 3) and one of the objectives for the construction of the 3D model will be to examine the structural relationships in this area along with bore hole geophysical data to determine how to target a potential extension at depth.

Castillian has an option to purchase a 100% interest in the Property from Xstrata Nickel (press release dated January 8, 2008 for details).

Selected highlights from this last round of results are listed in Table 1 below and a summary of results for drill holes CRMS-07-052 to CRMS-07-90 is included in Table 2 at the end of the release. A summary of all holes drilled on the Mangabal South Deposit is available on Castillian's website, including drill hole collar information.



Table 1: Selected intersections from Mangabal South Drilling.

Hole N Intercept
degrees From (m) To (m) (m) Ni% Cu% Co%

CRMS-07-060 95.50 114.05 18.55 0.59 0.32 0.02
Incl. 104.50 114.05 9.55 0.79 0.52 0.03
Incl. 107.80 110.35 2.55 1.26 0.39 0.05
CRMS-07-065 148.70 178.00 29.30 0.64 0.36 0.02
Incl. 148.70 164.25 15.55 0.91 0.46 0.03
Incl. 156.05 163.50 7.45 1.32 0.50 0.04
Incl. 160.05 163.50 3.45 1.62 0.49 0.05
CRMS-07-076 60.40 95.00 34.60 0.63 0.27 0.02
Incl. 69.90 84.30 14.40 1.05 0.33 0.03
Incl. 76.50 83.20 6.70 1.46 0.39 0.05
Incl. 77.00 81.30 4.30 1.82 0.40 0.05
CRMS-07-081 49.00 76.50 27.50 0.67 0.29 0.02
Incl. 49.70 54.00 4.30 1.01 0.38 0.03
Incl. 72.00 76.00 4.00 1.33 0.29 0.05
CRMS-07-083 58.45 99.30 40.85 0.40 0.16 0.02
Incl. 58.45 60.55 2.10 2.34 0.14 0.06
Incl. 74.30 84.45 10.15 0.69 0.33 0.03
Incl. 74.55 78.50 3.95 1.21 0.54 0.04
CRMS-07-085 76.80 103.45 26.65 0.57 0.23 0.02
Incl. 76.80 85.80 9.00 1.18 0.39 0.04
Incl. 76.80 81.20 4.40 1.87 0.47 0.07
CRMS-07-086 37.50 60.00 22.50 0.51 0.23 0.02
Incl. 40.30 48.00 7.70 0.99 0.38 0.03
Incl. 40.30 44.60 4.30 1.38 0.49 0.04
Incl. 39.00 41.80 2.80 1.79 0.47 0.05


Castillian's Managabal exploration team has commenced calculating the initial resource estimate using the Company's in-house resource specialist. The internal resource model including geological controls should be completed by the end of April. Modelling will be transferred to a qualified, independent company for verification and the final resource estimate is expected to be completed by mid May, depending upon contractor's availability. This is later than initially anticipated in large part due to back logs which slowed down receipt of assay data, due to very heavy volumes at the laboratory.

Quality Control

The company employs a QA/QC protocol on all aspects of the analytical procedures. Core samples are sawn and one half of the NQ core is restored to the core box for future reference and one half of the core is sent for analysis. Samples are taken in approx. 1.0 -metre intervals or less. Sample preparation is completed at the SGS Lakefield preparation lab in Goiania, Brazil and assayed at ALS-Chemex lab in Vancouver, Canada or SGS Lakefield Lab in Belo Horizonte, Brazil using multi-acid digest/ ICP-AES and AAS techniques. A blank sample is inserted every 40th sample and standard samples representing a range of grades are inserted at intervals of 1 in 20 samples.

The Quality Control and all aspects of the exploration program are supervised by Castillian Exploration Manager, Joel Hrominchuk, P.Geo., who is a Qualified Person as defined under National Instrument 43-101. Mr. Hrominchuk has reviewed the scientific and technical information in this press release.

David Gower, P.Geo., President and CEO of Castillian and a Qualified Person as defined by NI 43-101 has reviewed the content of this release.

About Castillan Resources

Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" with approximately 87 million shares issued and outstanding. Castillian has an option to purchase a 100% interest in the approximately 153,000 ha Mangabal nickel-copper project in Brazil from Xstrata Nickel. The company is earning an interest in the Las Aguilas Nickel-Copper-PGM Project in Argentina from Marifil Mines Ltd. and has a 100% interest in the Kagera Project which comprises over 1,600 square kilometers in the highly mineralized Kabanga Nickel Belt in Tanzania and rights to acquire 90% of the Pederson deposit, an advanced gold exploration project in Bolivia which is currently under force majeure.

Forward Looking Statements

This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections and similarities drawn to other deposits, estimates regarding the timing for resource modeling, future drill programs and the preparation of a 43-101 compliant technical report. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

To view Figure 1: Location Map - Castillian Mangabal Project Property Holdings, please visit the following link: http://media3.marketwire.com/docs/castillian-property.jpg

To view Figure 2: Mangabal South Deposit drill hole location map, please visit the following link: http://media3.marketwire.com/docs/mangabal-drill-map.jpg

To view Figure 3: Vertical longitudinal section showing drill hole intercepts for the Mangabal South Deposit, please visit the following link: http://media3.marketwire.com/docs/mangabal-drill-map-south-deposit.jpg

Table 2: Summary of remaining drill results for the Mangabal South Deposit, a complete list of all holes is posted on Castillian's web site at www.castillian.ca. The true width for the following intervals depends on the geometry of the ore body along strike. True widths are expected to be 80-95% of core length for angle holes and approximately 50% of core length for the vertical holes. This is an estimate only and actual true widths will be determined when the final 3D modelling is completed.



Hole N degrees UTM-E (m) UTM-N (m) Azimuth Angle

CRMS-07-052 576,621.8 8,196,764.2 360 -90
Incl.
CRMS-07-054 576,495.5 8,196,608.4 315 -45
CRMS-07-055 576,370.5 8,196,451.1 315 -55
CRMS-07-056 576,639.4 8,196,782.0 360 -90
And
CRMS-07-058 576,658.0 8,196,798.9 360 -90
CRMS-07-060 576,517.0 8,196,628.9 315 -45
Incl.
Incl.
Incl.
CRMS-07-061 576,693.5 8,196,798.5 360 -90
And
Incl.
CRMS-07-062 576,352.6 8,196,573.9 55 -70
And
CRMS-07-063 576,439.6 8,196,523.2 315 -55
Incl.
Incl.
CRMS-07-064 576,711.1 8,196,781.0 315 -45
And
Incl.
CRMS-07-065 576,477.8 8,196,519.5 315 -45
Incl.
Incl.
CRMS-07-066 576,300.9 8,196,523.0 360 -90
CRMS-07-067 576,728.7 8,196,763.4 360 -90
CRMS-07-068 576,409.3 8,196,486.6 315 -55
CRMS-07-069 576,746.3 8,196,745.7 315 -45
CRMS-07-070 576,764.5 8,196,762.9 315 -50
CRMS-07-071 576,447.7 8,196,456.4 315 -50
CRMS-07-072 576,675.7 8,196,816.4 360 -90
CRMS-07-073 576,567.8 8,196,747.8 360 -90
CRMS-07-074 576,478.3 8,196,696.4 360 -90
CRMS-07-075 576,477.3 8,196,590.6 315 -45
Incl.
And
Incl.
CRMS-07-076 576,424.6 8,196,643.4 360 -90
Incl.
Incl.
Incl.
CRMS-07-077 576,459.6 8,196,608.2 315 -45
CRMS-07-078 576,549.4 8,196,659.9 315 -65
And
CRMS-07-079 576,353.1 8,196,468.9 360 -90
CRMS-07-080 576,265.3 8,196,559.0 360 -90
CRMS-07-081 576,531.5 8,196,677.8 315 -70
Incl.
Incl.
CRMS-07-082 576,460.5 8,196,607.5 315 -70
And
And
CRMS-07-083 576,496.0 8,196,713.2 135 -70
Incl.
Incl.
Incl.
CRMS-07-084 576,442.5 8,196,554.9 315 -45
CRMS-07-085 576,417.9 8,196,622.5 315 -80
Incl.
Incl.
CRMS-07-086 576,692.9 8,196,728.5 315 -55
Incl.
Incl.
Incl.
CRMS-07-087 576,318.1 8,196,540.1 315 -80
CRMS-07-088 576,442.9 8,196,554.6 315 -65
CRMS-07-089 576,674.4 8,196,672.8 315 -45
CRMS-07-090 576,711.7 8,196,709.0 315 -45


Hole N degrees From (m) To (m) Intercept (m) Ni% Cu% Co%

CRMS-07-052 20.00 29.50 9.50 0.40 0.19 0.01
Incl. 27.50 29.50 2.00 1.03 0.38 0.02
CRMS-07-054 Not mineralized - - - -
CRMS-07-055 Not mineralized - - - -
CRMS-07-056 21.00 25.30 4.30 0.69 0.26 0.01
And 59.00 61.00 2.00 0.39 0.23 0.01
CRMS-07-058 20.00 24.30 4.30 0.43 0.21 0.01
CRMS-07-060 95.50 114.05 18.55 0.59 0.32 0.02
Incl. 104.50 114.05 9.55 0.79 0.52 0.03
Incl. 104.50 110.35 5.85 0.90 0.35 0.04
Incl. 107.80 110.35 2.55 1.26 0.39 0.05
CRMS-07-061 0.00 21.85 21.85 0.22 0.24 0.01
And 34.85 40.20 5.35 0.35 0.20 0.01
Incl. 34.85 35.60 0.75 0.92 0.48 0.03
CRMS-07-062 93.70 104.15 10.45 0.51 0.47 0.01
And 111.80 130.10 18.30 0.41 0.23 0.01
CRMS-07-063 150.00 161.75 11.75 0.57 0.49 0.02
Incl. 151.20 157.30 6.10 0.82 0.74 0.03
Incl. 152.60 153.80 1.20 1.49 1.09 0.05
CRMS-07-064 0.00 17.30 17.30 0.29 0.26 0.02
And 28.10 38.00 9.90 0.35 0.15 0.01
Incl. 28.10 31.65 3.55 0.60 0.23 0.03
CRMS-07-065 148.70 178.00 29.30 0.64 0.36 0.02
Incl. 148.70 164.25 15.55 0.91 0.46 0.03
Incl. 156.05 163.50 7.45 1.32 0.50 0.04
CRMS-07-066 Not mineralized - - - -
CRMS-07-067 50.70 67.45 16.75 0.20 0.14 0.01
CRMS-07-068 181.10 203.50 22.40 0.42 0.27 0.02
CRMS-07-069 44.00 48.00 4.00 0.43 0.21 0.02
CRMS-07-070 17.25 31.90 14.65 0.37 0.23 0.01
CRMS-07-071 187.15 187.45 0.30 1.66 0.09 0.07
CRMS-07-072 Not mineralized - - - -
CRMS-07-073 Not mineralized - - - -
CRMS-07-074 Not mineralized - - - -
CRMS-07-075 88.20 120.10 31.90 0.36 0.22 0.01
Incl. 101.00 108.50 7.50 0.66 0.46 0.02
And 153.60 159.65 6.05 0.78 0.16 0.02
Incl. 158.00 159.65 1.65 2.49 0.51 0.07
CRMS-07-076 60.40 95.00 34.60 0.63 0.27 0.02
Incl. 69.90 84.30 14.40 1.05 0.33 0.03
Incl. 76.50 83.20 6.70 1.46 0.39 0.05
Incl. 77.00 81.30 4.30 1.82 0.40 0.05
CRMS-07-077 Not mineralized - - - -
CRMS-07-078 87.90 110.00 22.10 0.19 0.13 0.01
And 111.50 116.50 5.00 0.47 0.24 0.02
CRMS-07-079 Not mineralized - - - -
CRMS-07-080 185.60 186.00 0.40 2.66 0.65 0.08
CRMS-07-081 49.00 76.50 27.50 0.67 0.29 0.02
Incl. 49.70 54.00 4.30 1.01 0.38 0.03
Incl. 72.00 76.00 4.00 1.33 0.29 0.05
CRMS-07-082 65.30 67.95 2.65 0.61 0.14 0.02
And 77.35 78.35 1.00 0.79 0.79 0.03
And 87.45 99.65 12.20 0.38 0.19 0.02
CRMS-07-083 58.45 99.30 40.85 0.40 0.16 0.02
Incl. 58.45 60.55 2.10 2.34 0.14 0.06
Incl. 74.30 84.45 10.15 0.69 0.33 0.03
Incl. 74.55 78.50 3.95 1.21 0.54 0.04
CRMS-07-084 103.00 106.40 3.40 1.06 0.21 0.03
CRMS-07-085 76.80 103.45 26.65 0.57 0.23 0.02
Incl. 76.80 85.80 9.00 1.18 0.39 0.04
Incl. 76.80 81.20 4.40 1.87 0.47 0.07
CRMS-07-086 37.50 60.00 22.50 0.51 0.23 0.02
Incl. 40.30 48.00 7.70 0.99 0.38 0.03
Incl. 40.30 44.60 4.30 1.38 0.49 0.04
Incl. 39.00 41.80 2.80 1.79 0.47 0.05
CRMS-07-087 Not mineralized - - - -
CRMS-07-088 115.50 121.50 6.00 0.21 0.07 0.01
CRMS-07-089 100.00 102.00 2.00 0.54 0.38 0.02
CRMS-07-090 60.50 61.00 0.50 1.06 0.20 0.05


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