Artha Resources Corp CTMIF

Castillian Announces Completion of Option Obligati

[Frik61]

Castillian Announces Completion of Option Obligations by Ryan Gold

Castillian Resources Corp. CT

2/6/2013 11:34:03 AM

Castillian Announces Completion of Option Obligations by Ryan Gold

TORONTO, ONTARIO--(Marketwire - Feb. 6, 2013) -Castillian Resources Corp. (TSX VENTURE:CT)(OTCQX:CTIIF) ("Castillian" or the "Company") announces that Ryan Gold Corp. has completed its obligations with respect to the acquisition of a 10% interest in Castillian's Hope Brook Gold property (the "Property") by incurring aggregate exploration expenditures on the Property of $2,000,000 by December 31, 2012.

Castillian and Ryan Gold will form a joint venture under which Ryan Gold will have a carried 10% interest until December 31, 2013, following which each company will contribute to further expenditures on the Property in proportion to their respective joint venture interests. Ryan Gold has an option to transfer its 10% interest back to Castillian prior to June 30, 2013 for that number of shares of Castillian that is equal to the sum of all expenditures incurred on the Property by Ryan Gold (the "Expenditures") divided by the greater of (a) $0.05 and (b) the market price of Castillian's common shares on the TSX Venture Exchange at the time Ryan Gold exercises this option, less the maximum discount permitted under the policies of the TSX Venture Exchange. At any time prior to December 31, 2013, Castillian will have the option to purchase the interest back from Ryan Gold in consideration for, at Castillian's option, either a cash payment to Ryan Gold equal to the Expenditures or 40,000,000 Castillian shares.

ABOUT CASTILLIAN RESOURCES