Castle Resources Announces $6.0 Million Brokered Private Placement Flow-Through Financing

TORONTO, ONTARIO--(Marketwire - Sept. 29, 2011) -

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Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Corporation") is pleased to announce a brokered private placement of Flow-Through Common Shares (the "Shares") led by Scotia Capital Inc. (the "Agent"), in which the Agent will raise up to $6.0 million on a reasonable commercial efforts basis (the "Financing") at a price of $0.63 per Share.

The net proceeds from the sale of the securities will be used for Canadian Exploration Expenses ("CEE") on the Granduc Copper property located near Stewart, British Columbia.

Under the terms of the Financing, the Agent will receive a cash commission representing 5% of the gross proceeds of the sale of the securities.

About Castle Resources

Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Mine and begin new exploration activities; as well, management is advancing the Elmtree Gold Project in New Brunswick toward feasibility in 2011. Castle currently has $6 million in its treasury and has issued and outstanding shares of 106 million. For more information please visit the Castle Resources' website at www.castleresources.com.

Disclaimer

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forwardlooking information, whether as a result of new information, future events or otherwise.