Castle Resources Inc.
TSX VENTURE : CRI

August 17, 2011 06:00 ET

Castle Resources Begins North Zone Drill Program at the Granduc Copper Project, B.C.

- In Total 5 Diamond Drills in Operation at the Granduc; Overall Scope of Surface Drilling Has Been Increased to 35,000 Meters

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2011) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to report that a 5th drill has been mobilized to the Granduc Copper Project near Stewart, B.C (the "Granduc Project").

"The objective of the North Zone drilling is to graduate the exploration potential identified by SRK in their NI 43-101 resource estimate into a resource category," stated Mr. Mike Sylvestre, President & CEO of Castle Resources Inc. "We believe the North Zone could represent significant future resource upside based on historical Newmont and Esso drill data."

Castle is also pleased to announce that it has acquired a mining claim located in the Skeena mining division in B.C. in connection with the development of its Granduc Project. In connection with this acquisition, Castle has paid cash consideration in the amount of $20,000, issued an aggregate of 94,118 common shares of Company, and has granted a 2% NSR over the acquired claim. The common shares issued in connection with the acquisition will all be subject to a four month regulatory hold period commencing from the date of issue.

In addition, the Company announces that, effective Friday, August 12, 2011, it completed its continuance under the Business Corporations Act (Ontario), as previously approved by special resolution of the shareholders of the Company at Castle's annual and special meeting held on March 22, 2011. The Company was previously governed under the Business Corporations Act (Alberta).

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 the100% owned past producing Granduc Copper Mine and begin new exploration activities; as well, management is quickly advancing the ElmtreeGold Project in New Brunswick toward feasibility in 2011. Castle currently has $14 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 forward-looking information, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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