Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased
to announce today that it has raised gross proceeds of $5,999,994 by way of a
brokered private placement (the "Offering") of 9,523,800 flow-through common
shares ("FT Shares") at a price of $0.63 per FT Share. 


Scotia Capital Inc., as lead agent, and Cormark Securities Inc. (collectively,
the "Agents") acted as agents for the Offering. The Agents received a cash
commission of 5% of the gross proceeds.


The gross proceeds raised from the sale of FT Shares will be used by the Company
to finance qualified Canadian exploration expenditures on its Canadian resource
properties.


All securities issued pursuant to the Offering are subject to a four month
statutory hold commencing from closing. The Offering is subject to TSX Venture
Exchange acceptance of requisite regulatory filings.


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 advancing the Elmtree Gold
Project in New Brunswick toward feasibility in 2011. Following the completion of
the above referenced Offering, Castle has approximately $8 million in its
treasury and has issued and outstanding approximately 115 million common shares.


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.
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