NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Castle Resources Inc. ("Castle") (TSX VENTURE:CRI) today announced that it has
agreed to pricing of its previously announced offering of common shares and
flow-through shares at $0.19 per common share and $0.21 per flow-through share. 


As previously announced the offering is being conducted by a syndicate of agents
led by Scotia Capital Inc. and including Paradigm Capital Inc., Cormark
Securities Inc., Haywood Securities Inc., D&D Securities Inc. and Mackie
Research Capital Corporation (together the "Agents"), whereby the Agents will
raise up to $6,500,000 (the "Offering") in a combination of common shares (the
"Common Shares") and flow-through shares (the "Flow-Through Shares"), including
up to C$5,000,000 of Common Shares and up to C$1,500,000 of Flow-Through Shares
in a marketed best efforts offering. 


The Agents shall also have the option (the "Agents' Option") to increase the
size of the Offering by up to an additional C$750,000 of Common Shares and up to
an additional C$225,000 of Flow-Through Shares sold pursuant to the Offering. 


The proceeds raised from the sale of the Common Shares will be used by the
Company to continue the redevelopment of its 100%-owned, past-producing Granduc
Copper Mine, and for working capital purposes. The proceeds raised from the sale
of Flow-Through Shares will be used by the Company to finance qualified Canadian
exploration expenditures on its Canadian resource properties.


The Offering is expected to close on or about October 2, 2012.

The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an exemption from the 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 State in which such
offer, solicitation or sale would be unlawful.


CASTLE RESOURCES INC. 

Lenny Foreht, VP Corporate Development 

Mike Sylvestre, President, CEO and Director

This news release includes certain statements that may be deemed
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to,
statements with respect to the Corporation's operations, exploration and
development plans, expansion plans, estimates, expectations, forecasts,
objectives, predictions and projections of the future. Generally, these
forward-looking statements can be identified by the forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "projects", "intends", "anticipates", or "does not
anticipate", or "believes", or "variations of such words and phrases or state
that certain actions, events or results "may", "can", "could", "would", "might",
or "will" be taken", "occur" or "be achieved". Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of
Castle Resources Inc. to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to: risks related
to the exploration and development of the Corporation's Granduc Project, risks
related to operations, construction delays and cost overruns, the actual results
of exploration, development and construction activities, conclusions of economic
evaluations, changes in project parameters as plans continue to be refined,
future copper prices, as well as those factors discussed in the sections
relating to risk factors of our business filed in Castle Resources Inc.'s
required securities filings on SEDAR. Although Castle Resources Inc. has
attempted to identify important factors that could cause results to differ
materially from those contained in forward-looking statements, there may be
other factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended.


There can be no assurance that any forward-looking statements will prove
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Castle Resources Inc. does not undertake
to update any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
Churchill Resources (TSXV:CRI)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Churchill Resources Charts.
Churchill Resources (TSXV:CRI)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Churchill Resources Charts.