Castle Gold Corporation

Castle Gold Corporation

May 15, 2008 15:30 ET

Castle Gold Announces Appointment of Two Directors and Resignation of a Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX VENTURE:CSG) is pleased to announce the appointment of Mr. Mark James Plaxton and Mr. Len Harris to the Company's Board of Directors.

James Mark Plaxton (age 40) graduated with a Bachelor of Applied Science in Materials and Metallurgical Engineering combined with a minor in Business Commerce from Queens University in Kingston, Ontario Canada. Mr. Plaxton is the founder, CEO, and Chairman of the INTAC Group of Companies and International Financial Consulting International Coordination Ltd. Mr. Plaxton's experience in the areas of business planning, financial modeling, accounting, corporate development and corporate restructuring (including restructuring of management and directors), mergers and acquisitions, transaction negotiations and closings, corporate finance and investor relations will benefit management and the Board of Directors of the Company with its current and future operations and planning. Mr. Plaxton is the Principal Portfolio Manager and Chief Investment Officer for INTAC GlobalInvestments and is also experienced in investment management and financing. In particular over the past 15 years Mr. Plaxton has been investing and working closely with the world's best performing asset managers including numerous internationally based gold and precious metals fund managers.

Leonard (Len) Harris is a 1949 Graduate Metallurgist from the Mount Morgan Technical College in Australia. Mr. Harris began his 59 year mining career in Australia working at three different mining projects and at Taquah & Abosso in Ghana. Mr. Harris then spent 18 years with Cerro de Pasco Corporation in Peru and New York followed by two years as Mine Manager at Texada Mines in Australia. Mr. Harris then spent 21 years with Newmont Mining Corporation in New York, Denver and Peru as Vice President R&D, Vice President Metallurgical Operations, General Manager of Minera Yanacocha, President and General Manager of Newmont Peru and Vice President and General Manager of Newmont Latin America. Presently, Mr. Harris is the Chairman of Resource Development Inc., Chairman Emeritus Mining, The Energy and Petroleum Task Force Chamber of the Americas, Chairman, International Committee SME, President ,B&H Mine Services, President & CEO Indico Resources Ltd., as well as a Director of Alamos Gold Inc., Aztec Metals Corp., Canarc Resources, Cardero Resources Corp., Endeavour Silver Corp., Golden Arrow Resources Corp,, IMA Exploration Inc., JVS Ingenieros, Solitario Resources and Sulliden Exploration Inc. He is a Consultant to H&H Metals Corp., Chancadora Centauro, Minera Titan del Peru and an Advisor to Euromerica and Vena Resources Inc. Mr. Harris has received numerous awards during his career and is a Golden Fellow of AusIMM, Fellow IMM, Life Member CIM, Honorary Member of the Peruvian College of Engineers and Legion of Honor of SME.

"It is with great pleasure that I welcome Mark and Len to Castle Gold as members of the Board of Directors," said Mr. Chris Babcock, President and CEO of Castle Gold. "Mark and Len bring broad and extensive experience in the areas of corporate strategy, development and finance along with broad mine development and operations and corporate governance experience to Castle Gold. I look forward to working with them as we work to bring the El Castillo Mine to full production in the future as well as the development of other projects. These additions to the Board of Directors are intended to support and enhance the Company's growth strategy and operations. I would like to thank Mr. Rodrigo Sanchez Mejorada for his service and contributions to the Company as a member of the Board of Directors. Rodrigo has resigned from the Board and I would like to take this opportunity to wish him well in his future endeavors."

Mr. Plaxton and Mr. Harris have each been granted 200,000 stock options at an exercise price of $0.46. The options vest 50,000 per quarter over the coming year and have a term of five years.

Castle Gold Corporation is a growth focused gold producer currently expanding gold production within the America's. Castle Gold owns a 100% interest in the El Castillo gold mine in Mexico and a 50% interest in the El Sastre gold mine in Guatemala. Castle Gold is also advancing exploration and development work at its La Fortuna gold project in Mexico and at its El Sastre, El Arenal, Bridge and Lupita Projects in Guatemala.


Christopher Babcock, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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