Castle Resources Inc.
TSX VENTURE : CRI

January 21, 2011 16:00 ET

Castle Resources Announces Grant of Options

TORONTO, ONTARIO--(Marketwire - Jan. 21, 2011) - Castle Resources Inc. ("Castle" or the "Company") (TSX VENTURE:CRI) announced today that pursuant to the policies of the TSX Venture Exchange ("TSX-V"), the Company has granted 860,000 incentive stock options (the "Options") to an officer of the Company to acquire up to an aggregate of 860,000 common shares of Castle under its stock option plan, expiring on January 21, 2016. All Options are exercisable at $0.60 per share, being the closing price of Castle's common shares on the TSX-V on January 20, 2011, being the date immediately preceding the grant.

About Castle Resources

Castle Resources Inc. 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 quickly advancing the Elmtree Gold Project in New Brunswick toward feasibility in 2011. 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 forward-looking information, whether as a result of new information, future events or otherwise.

Neither the 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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