Castle Resources Inc. Announces Closing of Non-Brokered Private Placement - Seite 2

The Common Shares and Warrants issued pursuant to the Offering, any Common Shares issued upon the due exercise of Warrants, the Debt Amendment Warrants, and any Common Shares issued upon the due exercise of the Debt Amendment Warrants, are subject to a four month and one day hold period from the date of issue of the securities issued under the Offering and the Debt Amendment Warrants, as applicable.

Prior to the completion of each of the Offering and the issuance of the Debt Amendment Warrants, the Company applied to the Canadian Securities Exchange (the "CSE") for relief from the CSE's minimum pricing rules, and the CSE granted the Company an exemption from its requirement that securities be issued at no less than $0.05 per share.

About Castle Resources Inc.

Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Mine in Stewart B.C. 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.