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TORONTO, ONTARIO, Dec 21, 2011 (MARKETWIRE via COMTEX) — Castle Resources Inc. CA:CRI -1.01% (“Castle” or the “Company”) is pleased to announce the completion of the rehabilitation of the 17 km long haulage tunnel that connects the Granduc minesite to the haulage road leading directly to year round port facilities in Stewart, B.C.
“This is a milestone achievement in our efforts to move the Granduc Copper project forward,” stated Mr. Mike Sylvestre, President, CEO & Director of Castle Resources. “The ability to safely access the mine now clearly positions Castle as an aggressive mine redevelopment story, with the next objective being the rehabilitation of strategic underground levels and exploration drifts for further copper resource definition.”
“We would also like to thank Procon Mining and Tunneling’s management and crews for a job well done,” continued Mr. Sylvestre. “They had a perfect safety record and came in on schedule and on budget, a significant achievement given the length of the tunnel and the fact that it had not been worked in 27 years.”
The 17 km long Granduc tunnel was constructed in the mid-1960s by Newmont Mining, the developer and initial operator of the Granduc Mine. It was considered an engineering feat, designed for the fast and efficient rail transportation of ore, people and supplies between the underground mine and the mill.
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. 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.
To view the figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/figure1_cri.pdf .
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.
