Castle Resources Acquires Horseshoe Property As Part of Strategic Move into the Stewart Mining Camp, British Columbia

TORONTO, ONTARIO, Nov 02 (MARKET WIRE) --
Castle Resources Limited (TSX VENTURE: CRI) ("Castle" or the "Company")
is pleased to announce that it has entered into an agreement to acquire a
100% interest in the Horseshoe Claim Group in the prolific Stewart Mining
Camp in northwest British Columbia, Canada.

Castle will earn a 100% undivided interest in the Horseshoe Property over
a 3 year period by spending $1.5 million on exploration and drilling
expenses. Castle will pay the vendor a total of $300,000 and will issue
360,000 shares of the Company over the term of the option, subject to
exchange approval.

"The Horseshoe Property has several attractive high-grade vein systems at
surface which we intend to aggressively explore in the coming year," said
Mr. Stephen Shefsky, President & CEO of Castle Resources. "As part of a
focused effort to acquire highly-prospective mineral properties in the
Stewart Gold Belt, we believe the Horseshoe property offers our
shareholders exposure to an attractive exploration block in a historical
mining camp that has produced many world class deposits."

The Horseshoe Property has numerous promising precious metal surface
showings including the High-Grade Vein showing, which has received most
of the historic work in the area. According to a Minister of Mines Annual
Report in 1926, a sample of quartz vein material assayed 86.2 g/t gold
and 123 g/t silver During a recent property visit, 3 grab samples were
collected along the High-Grade Vein, which returned values of 20.7 g/t Au
and 68.3 g/t Ag; 2.23 g/t Au; and 0.9 g/t Au. The 4th grab sample was
collected from a separate showing with a visible surface strike length of
over 100 metres averaging 7+ metres in width and returned values of 2.0%
Cu, 156 g/t Ag and 1.04 g/t Au.

Castle is planning a comprehensive exploration program for next year to
test this vein system with the goal of developing a NI 43-101 compliant
resource calculation. The closest past producer to the Horseshoe Property
is known as the Porter-Idaho located less than 750 meters to the north of
the property boundary.

Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified
Person responsible for the scientific and technical work discussed as
defined under National Instrument 43-101 and has reviewed this press
release.

About Castle Resources

Castle Resources Inc. is a Toronto-based junior mineral exploration
company focusing on high-quality, advanced exploration gold projects.
Management's goal is to quickly advance the new Elmtree option and to
seek additional opportunities to continue to add value for shareholders.
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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Castle Resources Limited
Stephen Shefsky
President & CEO
416-366-4200
cancap@on.aibn.com

Castle Resources Limited
Lenny Foreht
Corporate Development
416-364-2266
lforeht@linearcapital.com

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