House and Home House and Home
Wed, June 30, 2010
[ Wed, Jun 30th 2010 ] - Market Wire
A Positive Look atACAS Shares

Castle Resources Announces New President & Chief Operating Officer


Published on 2010-06-30 06:41:32 - Market Wire
  Print publication without navigation


TORONTO, ONTARIO--(Marketwire - June 30, 2010) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce that Mr. Mike Sylvestre has joined the Company as President & Chief Operating Officer effective immediately.

Mr. Sylvestre is an experienced senior mining executive with a track record of leading major mining operations over a 30+ year career. Mr. Sylvestre has held senior management positions domestically and internationally as CEO Vale Inco New Caledonia, where he completed construction and began commissioning of the $4 billion Goro nickel hydromet project, President Vale Inco Manitoba where he managed one of Inco's largest integrated mining properties producing 130 million pounds of refined nickel per year, and Vice President of Operations PT Inco, one of the world's largest open cast nickel laterite operations.

Mr. Sylvestre holds a MSc and a BSc in Mining Engineering Degree from McGill University and Queen's University respectively. Mike has also studied at the Richard Ivey School of Business and MIT Sloan School of Management.

"I am excited to be joining Castle Resources as President & COO at this point in the Company's evolution," said Mr. Mike Sylvestre. "I believe Castle's pipeline of projects provide tremendous growth opportunity and value for shareholders. Included in this pipeline are the Granduc Property which I believe has huge potential to become a premier Canadian copper/gold/silver mining operation. As well, Castle currently has the Elmtree Gold Project in New Brunswick advancing through the feasibility stage."

Mr. Stephen Shefsky, Chief Executive Officer of Castle Resources commented: "As the Company transitions to mine development at Elmtree and moves to acquire and redevelop the past producing Granduc Copper Mine it is clear that a mining professional with Mr. Sylvestre's level of operational experience will be an invaluable asset to the Company."

About Castle Resources

Castle Resources Inc. is a Toronto-based junior mineral exploration company focusing on high-quality, advanced exploration projects. Management's goal is to complete due diligence on the past producing Granduc Copper Mine and begin new exploration activities; as well, management is quickly advancing the Elmtree Project in New Brunswick toward feasibility in 2010. 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.


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.