TORONTO, ONTARIO--(Marketwire - March 7, 2011) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce it will launch a 30,000 metre drill program beginning this May at the Granduc Copper Project near Stewart, B.C. The objective of the drill program is to move the existing resources from the inferred to the indicated category as well as to allow the previously reported significant exploration potential tonnage to be upgraded and reported as a NI 43-101 compliant mineral resource.
Drilling Highlights:
"Castle's drill program this year will be very aggressive and will further delineate the downdip extent of the known Granduc mineralized zones," stated Mr. Mike Sylvestre, President & COO. "It is our goal to continue to demonstrate to our shareholders the potential for increasing copper resources at the Granduc."
Granduc Resource Estimate:
Granduc Highlights:
Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed this press release.
PDAC Booth
Castle Resources is an exhibitor at the Prospectors and Developers Association of Canada 2011 Convention this year in Toronto, Ontario. Please visit the booth #2319 to learn more about the Granduc Copper Project and meet management.
About Castle Resources
Castle Resources Inc. 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 and begin new exploration activities; as well, management is quickly advancing the Elmtree Gold Project in New Brunswick toward feasibility in 2011. Castle currently has $15 million in treasury and has issued and outstanding shares of 102 million.
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.
This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contact Information: Castle Resources Inc.
Mike Sylvestre
President & Chief Operating Officer
416-366-4100
mike@castleresources.com
or
Castle Resources Inc.
Lenny Foreht
VP Corporate Development
416-364-2266
lforeht@castleresources.com