Castle Gold Corporation

Castle Gold Corporation

April 30, 2009 12:13 ET

Castle Gold Announces New Appointment to Board of Directors and Announces 2008 Financial Report Conference Call

TORONTO, ONTARIO--(Marketwire - April 30, 2009) - CASTLE GOLD CORPORATION (Castle Gold, the Company) (TSX VENTURE:CSG) is pleased to announce the appointment of Mark Selby to the Board of Directors.

Mr. Selby has nearly 20 years experience in management consulting and has held a number of financial and corporate development roles in the transportation and mining industry. Mr. Selby is currently Vice-President Business Planning & Market Research with Quadra Mining Inc., a mid tier base metals company. Prior to joining Quadra in 2008, Mr. Selby founded Selby & Co in 2006, to provide consulting advice to mining companies, private equity and hedge fund clients on commodities and business issues. From 2001 until 2007, Mr. Selby's was with Inco Limited where he held the positions of Director Market Research (2003), Director - Marketing, Business Planning and Development (2005) and Assistant Vice President Strategic Planning and Corporate Development. His five year career with Inco culminated in the transaction between Inco and CVRD whereby Inco was acquired by CVRD and where Mr. Selby led the Strategic Planning and Corporate Development group during the multi-party acquisition battle. Before joining Inco, he was a partner at Mercer Management Consulting from 1994 until 2001 where he consulted to clients in the transportation and resource sectors. Mr. Selby graduated from Queen's University in 1989 with a Bachelor of Commerce (Honours).

Mr. Plaxton, Chairman of the Board, comments on Mark Selby's appointment to the Board of Directors: "We are excited to have Mark Selby join our Board of Directors and the Audit Committee as an independent - active - value add - member, his experience both as a strategy consultant and in his evaluation and M&A work at Inco and at Quadra will be invaluable as Castle Gold continues to advance our Strategic Alternative Review and build a Preeminent Gold Mining Company."

The Company announces that 250,000 options to purchase common shares have been granted to Mr. Selby at an exercise price of $0.71 expiring on April 27, 2014. 200,000 of these options have quarterly vesting and are allocated for Board duties and 50,000 options are allocated for Audit Committee duties.

Castle Gold would also like to announce a 2008 Financial Report conference call scheduled for May 1, 2009 10:30 a.m. EST. Participant dial in numbers are:

Local: 416-695-6616; and

Toll free (North America): 1 800-769-8320.

A replay will also be available at dial-in number: 416 695-5800 or toll free: 1 800 408-3053, pass code: 4658837. The Company will also post the conference call on its website.

The Company also announces that further to its press release of April 2, 2009 concerning the appointment of Alpha Investors Ltd. ("Alpha") to assist the Company in its investor relations efforts and outreach program to potential investors, the term of the agreement between the Company and Alpha that commenced on March 31, 2009 is for one year and may be subsequently renewed on a month-to-month basis.

About Castle Gold

Castle Gold Corporation is a growth oriented gold producer with projects focused in the America's. The Company 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-silver-copper project in Mexico.

TSX-V Trading Symbol: CSG
Total Shares Outstanding: 75.3MM
Fully Diluted: 82.3MM
52-Week Trading Range: C$0.15 - $0.71

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.

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