Carlisle Announces Changes to Senior Management

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| Source: Carlisle Goldfields Limited

TORONTO, Feb. 3, 2014 (GLOBE NEWSWIRE) -- Carlisle Goldfields Limited (TSX:CGJ) (OTCQX:CGJCF) ("Carlisle" or the "Company") is pleased to announce the appointments of Abraham Drost as the new President and Chief Executive Officer ("CEO") with Bruce Reid transitioning to Executive Chairman of the Company.

Carlisle's new President and CEO, Abraham Drost commented that: "I am very pleased to join the executive team of Carlisle Goldfields. The Company is well positioned for growth as a result of the guidance and efforts of Bruce Reid and the Carlisle team over the past four years."

Carlisle's new Executive Chairman, Bruce Reid commented that: "It is with great pleasure that we announce the addition of Abraham Drost to the Carlisle team as President and CEO. We look forward to taking Carlisle to the next stage utilizing Abraham's knowledge and leadership that have been crucial to his past successes."

Mr. Drost is a registered Professional Geoscientist (Ontario) and Qualified Person with over twenty five years' senior management experience with a number of public issuers in the Canadian mining industry.

About Carlisle: Carlisle Goldfields Limited is a Canadian‐based gold exploration and development Company focused on development of its Lynn Lake Gold Camp in Lynn Lake, Manitoba, Canada. Carlisle now has five NI 43-101 compliant mineral resource estimates within its Lynn Lake Gold Camp, four of which form the basis for the December, 2013 PEA (Farley Lake Mine Deposit, MacLellan Mine Deposit, Burnt Timber Mine Deposit, and Linkwood Deposit).

Further details including mineral resource technical reports are available on SEDAR (www.sedar.com) or carlislegold.com/resource-summary.php.

FOR FURTHER INFORMATION PLEASE CONTACT BELOW

CARLISLE GOLDFIELDS LIMITED

2702 – 401 BAY STREET

TORONTO, ONTARIO, CANADA

info@carlislegold.com 

www.carlislegold.com

Nicholas Konkin

Director of Investor Communications

416-642-0869 ext. 3 or nkonkin@carlislegold.com 

Abraham Drost, CEO

Ph: 807-252-7800 or adrost@carlislegold.com

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Company's shares and other securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.

Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", including the establishment and estimate of resources that involve various known and unknown risks and uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, Carlisle expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of this release.