CAP Castle Peak Mining Ltd

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR
DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES


Castle Peak Mining Ltd. ('Castle Peak' or the 'Company') (TSX VENTURE:CAP), has
arranged a non-brokered private placement offering to raise gross proceeds of $3
million. Under the terms of the private placement, the Company will offer for
sale 8,571,428 million units ("Units") at $0.35 per Unit. 


Each Unit will consist of one common share of the Company and one-half of one
share purchase warrant (each whole warrant, a "Warrant"), where each Warrant
will allow the subscriber to purchase one additional common share of the Company
at an exercise price of $0.50 per share for a period of 12 months from the date
of closing, subject to adjustment/acceleration under certain circumstances. The
Company may, at its discretion, pay a cash finder's fee of up to 6 percent of
the total gross proceeds of the offering. The offering is anticipated to close
on or before September 30, 2011. 


The securities issued upon the closing of the offering will be subject to
customary securities legislation hold periods. The offering is subject to the
acceptance of the TSX Venture Exchange. 


Proceeds from the private placement will be used to fund the ongoing exploration
program at Castle Peak's Akorade project in Ghana, as well as working capital. 


The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States, or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any
jurisdictions in which such offer, solicitation or sale would be unlawful. Any
offering made will be pursuant to available prospectus and registration
exemptions and restricted persons to whom the securities may be sold in
accordance with the laws of such jurisdictions and by persons permitted to sell
the securities in accordance with the laws of such jurisdictions. 


About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company
focused on advancing greenfields and early stage gold projects. The Company
holds a strategic land package in the Ashanti belt adjacent to several producing
gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most
prolific gold belts in the world with over 150 million proven ounces uncovered
and current investment in excess of $2.5 B USD. Castle Peak is now executing an
aggressive Phase I exploration program on identified gold targets. 


On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer    

FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain
'forward-looking information' and 'forward-looking statements' within the
meaning of applicable securities laws. Such forward-looking statements are based
on the opinions and estimates of management at the date the statements are made,
and are subject to known and unknown risks, uncertainties and assumptions that
could cause actual results to vary materially from the anticipated results or
events predicted in these forward-looking statements, including the closing of
the offering and those risk factors identified in the Company's Filing Statement
filed under the Company's SEDAR profile. As a result, readers are cautioned not
to place undue reliance on these forward-looking statements. The forward-looking
statements contained in this news release are made as of the date of this
release. Except as required by applicable law, Castle Peak disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.

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