Castillian Resources Corp.
TSX VENTURE : CT
OTCQX : CTIIF

Castillian Resources Corp.

June 04, 2013 07:00 ET

Ryan Gold Converts 10% Interest in Hope Brook Into Castillian Shares

TORONTO, ONTARIO--(Marketwired - June 4, 2013) - Castillian Resources Corp. (TSX VENTURE:CT)(OTCQX:CTIIF) ("Castillian" or the "Company") announces that Ryan Gold Corp. has exercised its option to transfer its 10% interest in Castillian's Hope Brook Gold property back to Castillian in consideration for 8,000,000 common shares of Castillian having a deemed price of $0.25 per common share (see news releases dated February 6, 2013 and November 1, 2012).

Following the exercise of the option, Ryan Gold holds 10.6% of the issued and outstanding common shares of Castillian.

Dr. William Pearson, President & CEO of Castillian, stated: "We are very pleased that Ryan Gold has exercised their option. The exploration drilling program in November and December of 2012, which was funded by Ryan Gold's investment, outlined a major new target zone in the 240-Connector Zone area that extends at least 1,200 metres along strike. In addition, the drilling lead to the development of a new structural model for the Hope Brook project, which has opened up new target areas for resource expansion that will be tested in the next drill program."

ABOUT CASTILLIAN RESOURCES

Castillian is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" and on the OTCQX International under the symbol "CTIIF". Castillian's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland, which has 12.4 million tonnes at 1.48 g Au/t for 590,000 ounces of indicated mineral resources and 8.2 million tonnes at 2.07 g Au/t for 548,000 ounces of inferred mineral resources (see technical report entitled "Updated Mineral Resource Estimate Technical Report, Hope Brook Gold Project, Newfoundland and Labrador, Canada", effective October 1, 2012).

QUALIFIED PERSONS

Dr. Bill Pearson, P.Geo., President and CEO of Castillian, who is a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this press release.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding exploration plans and the estimation of mineral resources. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

Contact Information