Castillian Resources Corp.

Castillian Resources Corp.

May 19, 2011 16:30 ET

Castillian Strengthens Management Team

Appoints Colinda Parent as Vice President, Corporate Development

TORONTO, ONTARIO--(Marketwire - May 19, 2011) - Castillian Resources Corp. ("Castillian" or the "Company") (TSX VENTURE:CT) is pleased to announce that it has appointed Colinda Parent as Vice President, Corporate Development of the Company.

Ms. Parent has extensive capital markets experience having spent more than 15 years in institutional equity sales and five years in investment banking in Toronto. Prior to joining Castillian, she was one of the founders of Sandfire Securities Inc., a Toronto-based institutional equity boutique focused on raising funds for and trading stocks in small and mid-cap Canadian-listed resource companies. She was also on the Board and Executive Committee at Sandfire Securities Inc. Ms. Parent is a CFA charter holder and has an MBA from the Ivey School of Business.

"We are very happy to have Colinda on board," commented Dr. Bill Pearson, P.Geo., President & CEO of Castillian. "Her knowledge and experience in the capital markets will be invaluable to the Company as we continue to grow."

In addition, the Company announces that it has granted a total of 7,925,000 stock options pursuant to the stock option plan of the Company to certain officers, directors, consultant and employees of the Company. The options shall vest immediately, subject to the statutory four month hold period, are exercisable at $0.20 per option and expire on May 16, 2016. The grant of options remains subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

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 15,000 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 impact of the appointment, the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, statements regarding the potential and financial impact of the filing of the financial statements, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. 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, not realizing on the potential benefits of the proposed transaction; 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 required financing 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.


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