Castle Resources Inc.
TSX VENTURE : CRI

August 29, 2007 18:25 ET

Castle Resources Inc. Third Quarter Financial Statements For Period Ended June 30, 2007

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2007) - Castle Resources Inc. (the "Company") (TSX VENTURE:CRI) today released its unaudited financial statements for the Company's Third Quarter ended June 30, 2007.

The net loss for the three-month period ended June 30, 2007 was $329,236 or $(0.018) per share.



SUMMARY OF INCOME STATEMENT INFORMATION

Income Statement June 30, 2007 June 30, 2006
(Three Months) (Three Months)

Net Income (loss) ($329,236) ($7,636)
Per share - basic and diluted ($0.018) ($0.002)
Weighted average shares outstanding - basic 18,299,358 3,525,000


The Company had interest income of $12,550 for the quarter ended June 30,
2007 and expenses of $341,786.


SUMMARY OF CASH FLOW INFORMATION

Cash Flow June 30, 2007 June 30, 2006
(Three Months) (Three Months)

Cash from operating activities $ (291,951) $ (4,310)
Cash from investing activities $ (98,578) $ 0
Cash from financial activities $ 373,701 $ 15,000
Increase in cash and cash equivalents $ (16,828) $ 10,690
Cash and cash equivalents - beginning
of period $ 1,396,931 $ 266,375
Cash and cash equivalents - end of period $ 1,380,103 $ 277,065


SUMMARY OF BALANCE SHEET INFORMATION

June 30, September 30,
Balance Sheet 2007 2006

Cash and cash equivalents $ 1,380,103 $ 222,555
Total assets $ 4,204,931 $ 311,665
Total liabilities $ 50,031 $ 45,021
Share capital $ 4,670,001 $ 412,844
Total shareholders' equity $ 4,154,900 $ 266,644
Total liabilities and shareholders' equity $ 4,204,931 $ 311,665


As at June 30, 2007, the Company had net working capital of $1,530,083.

The Company's unaudited June 30, 2007 financial statements may be viewed on SEDAR at www.sedar.com.

About Castle Resources Inc.

Castle Resources Inc. is a Toronto-based junior mineral exploration company focusing on high-quality advanced exploration projects in Mexico. The Company's initial focus is on silver exploration and development in Zacatecas, Mexico, one of the most prolific silver camps in Mexico and the world. Management's goal is to quickly advance current projects and to seek additional opportunities to continue to add value for shareholders.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Castle Resources Inc.
    Eric Szustak C.A.
    CFO
    (416) 619-0801
    or
    Castle Resources Inc.
    Stephen Wallace
    President & CEO
    (416) 619-0801