TORONTO, ONTARIO--(Marketwire - March 2, 2009) - CASTLE GOLD CORPORATION (Castle Gold, the Company) (TSX VENTURE:CSG - News)is pleased to announce that it will begin the first phase of a reversecirculation drill program to test the potential to expand oxide goldmineralization at the Company's 100 percent owned El Castillo Mine,Durango state, Mexico. The focus of this program is to test the areasto the south and the east of the El Castillo pit where based onhistoric drilling on the deposit by Battle Mountain Gold, recentgeological mapping and a historical geochemical survey the Companybelieves there is good potential to discover additional goldmineralization.
Thomas Atkins, President and CEO of Castle Gold commented on thedrill program stating: "We're excited to begin this program! For CastleGold, this is the first time we've put some drills in the ground totest the resource expansion potential at El Castillo. The Company'sgeological team, led by Manager of Exploration, Miguel Cardona, havemapped the geology and structures and evaluated geochemical data in thetarget areas. We believe the product of this work provides goodevidence of the potential for these areas to host additional gold. Ifgold mineralization is of economic grade and width, we would hope toquickly enhance the resources of the area thereby enabling us to bringthis material into the mine plan. What is exciting about this work isit is the first step in a process which could result in additionalreserves and if sufficient, result in a scenario whereby goldproduction may be further expanded beyond our current objective of inexcess of 50,000 oz per year at El Castillo."
The program hasbeen designed to efficiently test extensions to the geology andstructures that have hosted gold mineralization in the El Castillo openpit reserve. The program will consist of an initial 14 to 18 holereverse circulation program totalling approximately 2,200 metres (referto attached Figure 1 - Phase 1 Exploration Drill Program, El CastilloResource Expansion Drilling). If the first phase drill program issuccessful, an in-fill drill program to bring this material into themineral resource of the mine is planned to follow. The drill program isexpected to take from 4 to 6 weeks to complete with results from drillchip sampling, mapping and assaying to follow the advancement of theprogram. It is expected that complete results from the program will beavailable approximately four weeks following conclusion of the program.
About Castle Gold
CastleGold Corporation is a growth oriented gold producer with projectsfocused in the America's. The Company owns a 100% interest in the ElCastillo gold mine in Mexico and a 50% interest in the El Sastre goldmine in Guatemala. Castle Gold is also advancing exploration anddevelopment work at its La Fortuna gold-silver-copper project in Mexico.
For further information visit our website: www.castlegoldcorp.com.
Figure 1 - Phase 1 Exploration Drill Program, El Castillo Resource Expansion Drilling can be viewed at the following link: https://media3.marketwire.com/docs/csg0302fig1.pdf.
(Drill locations projected over satellite Image of site and overlay of geochemical survey results)
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