Castle Peak Mining Ltd.
TSX VENTURE : CAP

Castle Peak Mining Ltd.

April 27, 2011 12:19 ET

Drilling Initiated on Castle Peak's Akorade Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) -Castle Peak Mining Ltd. ("Castle Peak" or "the Company") (TSX VENTURE:CAP) is pleased to announce that drilling has started on the newly named Akorade Project (translates to "treasure" in Ghana's Twi language), which comprises all seven of the Company's adjoining mineral concessions in the southern Ashanti belt in Ghana, West Africa. Initial drilling is taking place on the Apankrah Mine structure on the Nkwanta property, where artisanal miners have historically exploited approximately 120 metres ("m") of this structure down to depths of 40m. Previous grab sampling programs sampling along strike of the Apankrah Mine structure returned values ranging from 0.02 grams per ton ("gpt") to 38.6gpt gold; limited sampling of the immediate hanging and footwall returned values ranging from 0.18 to 0.33gpt gold. Drilling will evaluate shallow to moderate depths across the previously untested alteration haloes crossing the known Apankrah and previously identified parallel structures.

Preparatory work for drill evaluation is now underway on the Nana structures, a target defined by part of the Apankrah Main soil anomaly (2,000m x 400m) located to the northwest (see Figure 1 for locations of both Apankrah Mine and Nana structures). The Nana structures have also been exploited by artisanal workers with excavations on the order of 100m in strike length. The two sub parallel structures, approximately 50m apart, that define this target have returned grab samples from previous sampling programs that ranged from <0.01gpt to 163gpt gold.

The Company continues work on the airborne geophysical survey (magnetics, VTEM, radiometrics) over the entire land package, and has completed 1,188 kilometres ("km") of the planned 3,425km survey. Geometry and mechanical issues have affected production however these issues appear to have been resolved and production flying has recently been re-initiated. The Company is also receiving assay results from target generation auger drilling on Ayiem, Kedadwen, Bonsaso and Dompem.

Qualified Person(s)

Castle Peak's technical disclosure in this news release has been reviewed and approved by Darren Lindsay, P.Geo., Castle Peak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101 ('NI 43-101'). Quality assurance and quality control procedures currently being established include the systematic insertion of blanks, standards and duplicates into the sample stream either in the field or at the Lab; samples are placed in sealed bags and are delivered to Intertek Mineral Services (previously Transworld) Laboratories in Tarkwa, Ghana. The Castle Peak projects are early stage exploration properties and do not contain any mineral resources as defined by NI 43-101.

About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company focused on advancing greenfields and early stage gold projects. The Company holds a strategic land package in the Ashanti belt adjacent to several producing gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most prolific gold belts in the world with over 150 million proven ounces uncovered and current investment in excess of $2.5 B USD. Castle Peak is now executing an aggressive Phase I exploration program on identified gold targets.

On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from targeted results the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Castle Peak disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/CAP0427.pdf

Neither 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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