Castle Peak Mining Ltd.
TSX VENTURE : CAP

Castle Peak Mining Ltd.

June 05, 2012 20:30 ET

Castle Peak Mining Ltd. Announces Termination of Proposed Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2012) - Castle Peak Mining Ltd. (TSX VENTURE:CAP) ("Castle Peak" or "the Company") announces that the Company has mutually agreed to terminate the Memorandum of Understanding with Beijing Donia Resources Co. Ltd. announced on February 2, 2012. Castle Peak continues on track with its planned exploration program using proceeds from the recently closed brokered private placement (NR June 4, 2012). Additional funding opportunities will be evaluated to ensure the Company can execute on exploration opportunities as they arise.

About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company focused on advancing greenfield and early stage gold projects. The Company holds a strategic land package in the Ashanti belt adjacent to several producing gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most prolific gold belts in the world with over 150 million proven ounces uncovered and current investment in excess of $3.3B USD.

On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President & CEO

FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws including statements regarding proposed exploration, sampling and drilling at the Akorade Project. Such forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from the anticipated results or events predicted in these forward-looking statements, including those risk factors identified in the Company's Annual MD&A and Filing Statement filed under the Company's SEDAR profile. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Castle Peak disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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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