Castle Resources Inc.
TSX VENTURE : CRI

February 19, 2008 17:38 ET

Castle Resources Inc. Appoints Stephen Shefsky as President and Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Feb. 19, 2008) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Castle Resources Inc. ("Castle" or the "Company")(TSX VENTURE:CRI) is pleased to announce that Stephen Shefsky has been appointed as Castle's new President and Chief Executive Officer to replace Stephen Wallace. Mr. Shefsky enjoys a successful career in mineral exploration and has been involved in the financing, exploration and the development of resource companies for more than 12 years. Mr. Shefsky has been a director of Castle Resources since March 2007.

Mr. Mark Brennan, Executive Chairman of Castle, stated: "The Board of Castle would like to welcome Mr. Shefsky as the Company moves into a new phase of its growth with the expected acquisition of the Cobalt Silver Camp in Ontario." He added, "Having brought the Cobalt opportunity to Castle, Mr. Shefsky has added a new dimension and great potential on behalf of shareholders."

Mr. Shefsky commented, "I am very excited to join Castle in the capacity of President and CEO. I would like to focus on pushing our programs ahead aggressively." He added, "While the Company remains excited by the prospects of its Mexican project, the Legends of Cobalt acquisition provides a significant critical mass that gives us the potential for short term development as well as a larger regional exploration opportunity."

The Board wishes to extend their sincere thanks and appreciation to Stephen Wallace for his efforts and accomplishments with Castle.

About Castle

Castle recently signed a Letter of Intent to acquire rights to a majority land position within the Cobalt Ontario Silver Camp, one of the prolific silver mining camps in the Cobalt region.

- Historic Cobalt Mining Camp produced more than 445 million oz silver, 45 million lbs cobalt

- District-scale exploration opportunity on previously unconsolidated 3,083 ha land package

- Near-term potential for mine rehabilitation, tailings production and additional acquisitions

In addition, Castle is focusing on high-quality advanced exploration projects in Mexico. The Company's initial focus is on silver exploration and development in Zacatecas, Mexico, a prolific silver camp in Mexico. Management's goal is to quickly advance current projects and to seek additional opportunities to continue to add value for shareholders.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect the financial results is included in documents filed from time to time with Canadian securities regulatory authorities by the Company.

The TSX Venture Exchange has neither approved or disapproved of the contents of this press release.

Contact Information

  • Castle Resources Inc.
    Stephen Shefsky
    President and CEO
    (416) 366-4200
    (416) 366-4201 (FAX)