Castle Gold Corporation

Castle Gold Corporation

July 02, 2008 13:11 ET

Castle Gold Appoints New Chief Financial Officer and Manager of Investor and Public Relations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2008) - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX VENTURE:CSG) is pleased to announce the appointment of Mrs. Janet O'Donnell as Chief Financial Officer (CFO) of the Company and Mr. Rory Quinn as Manager Investor and Public Relations.

Mrs. O'Donnell was most recently CFO of a Canadian manufacturing company with domestic manufacturing facilities and subsidiary offices in Latin America with international sales of consumable products exclusively to the mining industry. She was employed with the company for 22 years holding various positions in the accounting and finance fields leading-up to a 3 year period as the company's CFO. During her tenure, and particularly while employed as the company's CFO, Mrs. O'Donnell was an integral part of the team that took the company public as an income trust in 2005 and assisted in raising $75 million in equity capital coincident with the initial public offering (IPO). Due to the regulatory changes to the income trust sector, the company of which Mrs. O'Donnell was employed was sold to a private equity group in 2007.

Mr. Quinn was most recently an Investor Relations Account Manager at Ascenta Capital (a full service Investor Relations and finance firm located in Vancouver) where managed accounts included Crowflight Minerals under Mr. Atkins and for Golden Band Resources. Prior to that Mr. Quinn worked for Gillette Company (now Proctor & Gamble) for over 7 years where he held progressively more responsible roles in sales and marketing. Rory brings numerous buy and sell side contacts in addition to several relationships in the financial community to his new role with Castle Gold.

Thomas Atkins, President and CEO of Castle Gold, commented on the appointments stating: "Castle Gold is pleased to be working with Janet and Rory. I am confident that Janet's years of experience in all facets of financial accounting, control and as the CFO of a public company provide the skills and experience the Company is seeking. Similarly, we're pleased to have Rory join the team and welcome his enthusiasm and experience to the role of Investor Relations. On behalf of the Castle Gold management team and the board of directors of the Company I'd like to welcome Janet and Rory to Castle Gold and look forward to working with them and to their contributions going forward."

Both Mrs. O'Donnell and Mr. Quinn will report to the Company's Toronto office. Mr. Michael O'Connor, current Manager of Investor Relations for Castle Gold in Vancouver will remain with the Company until the end of July to facilitate the transfer of investor relations responsibilities to Mr. Quinn.

Mrs. O'Donnell has been granted 240,000 options to acquire common shares of the Company at an exercise price of $0.50 per common share, Mr. Quinn has been granted 168,000 options to acquire common shares of the Company at an exercise price of $0.50 per common share. Options vest on a quarterly basis over 12 quarters; 20,000 options per quarter and 14,000 options quarterly for each of Mrs O'Donnell and Mr. Quinn, respectively.

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.

Contact Information

  • Castle Gold Corporation
    Thomas Atkins
    President and CEO
    (416) 214-4809
    Castle Gold Corporation
    Rory Quinn
    Manager Investor and Public Relations
    (416) 214-4809
    (416) 366-7421 (FAX)