TORONTO, ONTARIO — (Marketwire) — 07/27/11 — Castle Resources Inc. (TSX VENTURE: CRI) („Castle“ or the „Company“) is excited to release its first set of drill assay results from the 2011 30,000 meter surface exploration program at the Granduc Copper Project located near Stewart, B.C.
„These initial results go a long way in confirming that the South Zone is a copper rich environment which doubles the known strike length of the Granduc,“ stated Mr. Mike Sylvestre, President & CEO of Castle Resources. „These new results coupled with Bell Copper drilling on the South Zone in 2005 and 2006 confirm historical assumptions that the Granduc Main zones continue to the south and notably increase in grade and width.“
Drill Highlights:
Please refer to the attached image which shows the location of our new South Zone drill holes and Bell Copper holes from 2005/06 and their relative position on strike with the Granduc Main Zone. These results clearly demonstrate the continuity of copper mineralization to the south on strike. It is Castle-s goal to continue to drill the South Zone as part of the overall objective of significantly growing the inferred copper resource (SRK Consulting NI 43-101 compliant) in addition to drilling downdip on the Granduc Main zone beneath the 1600 foot horizon.
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.
Granduc Resource Estimate:
Granduc Highlights:
About Castle Resources
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 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 $14 million in its treasury and has issued and outstanding shares of 106 million.
For more information please visit the Castle Resources- website at .
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.
To view a map associated with this press release, please visit the following link:
Neither the 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.
Contacts: Castle Resources Inc. Mike Sylvestre President & CEO 416-366-4100
Castle Resources Inc. Lenny Foreht VP Corporate Development 416-644-9003
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