Castle Gold Corporation

Castle Gold Corporation

July 04, 2008 13:45 ET

Castle Gold Announces Results of Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2008) - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX VENTURE:CSG) is pleased to announce the results of its annual general meeting of shareholders (the "Meeting") held on June 30, 2008. At the Meeting, the shareholders of the Company approved all resolutions placed before them by management, including the election of directors, the appointment of the auditor and the ratification of the previously approved stock option plan of the Company. Chester F. Millar, James Mark Plaxton, Leonard Harris, Richard J. Adams, Milton Baehr and Thomas Atkins were elected as directors of the Company and McGovern, Hurley, Cunningham LLP was appointed auditor of the Company at a fee to be fixed by the directors.

Mr. Plaxton commented on the appointment of Mr. Baehr as a replacement Director for Mr. Thompson: "Firstly, on behalf of Castle Gold we would like to thank Mr. Edward Thompson for his many years of hard work and dedication at Aurogin Resources and most recently Castle Gold. In particular, we appreciate Ed's guidance with respect to integrating and restructuring the management teams and boards of directors of Morgain Minerals and Aurogin Resources forming Castle Gold. We have the utmost respect for Ed Thompson's knowledge and experience as an executive director in the mining industry. We would like to take this opportunity to wish Ed well in his future endeavours both professional and personal. It was for personal reasons that Ed resigned from the Board of Directors and we are sad to see him go. However, change does bring about opportunity and Castle Gold is pleased to be working with Mr. Milton Baehr. We are confident that his numerous years of experience in all facets of the investing and finance world and his prior appointments as CEO and Chairman for several very successful businesses, most recently Strategic Financial Solutions / PerTrac Software, all provide the skills, experiences, and contacts that the Company is currently seeking. On behalf of the Castle Gold management team and the board of directors of the Company I'd like to welcome Mr. Baehr to Castle Gold and we look forward to working with him and to his contributions going forward."

Mr. Baehr has been granted 200,000 stock options at an exercise price of $0.50. These options vest 50,000 per quarter over the coming year and have a term of five years.

About Castle Gold

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.

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

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