Darren Lindsay Appointed CEO of Castle Peak Mining-Board Approves Phase One Exploration Budget
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/21/11 -- Castle Peak Mining Ltd. (TSX VENTURE: CAP) ('Castle Peak' or 'the Company') is pleased to appoint Darren Lindsay as President and Chief Executive Officer of Castle Peak. The announcement follows the resignation of former Chief Executive Officer Brian Lock, who will remain as Chairman on the Board of Directors.
Mr. Lindsay is a professional geoscientist with 15 years experience in exploration geology for precious and base metals in North and South America. Mr. Lindsay played a key role on the team involved with the expansion and feasibility level studies of the multi-million ounce Madrid and Doris gold deposits in Hope Bay, Nunavut, with Miramar Mining Corporation and later Newmont Mining Corporation. He has also worked with other junior and senior companies, including BHP Minerals Canada Ltd, Inmet Mining Corporation, and Kodiak Exploration Limited.
The Company also announces the Board approval of a $4 million Phase I exploration budget. Castle Peak plans to immediately undertake an airborne geophysical survey (VTEM, Magnetics and radiometrics) to complement the existing comprehensive geochemical database. Target evaluation will include the prioritization of drill targets on the Ayiem and POW properties with the intention of commencing a 15,000 metre drill program by the end of the second quarter.
About Castle Peak
Castle Peak Mining Ltd. is a Canadian-based exploration and development company focused on advancing greenfields and early stage gold projects. The Company holds a strategic land package in the Ashanti belt adjacent to several producing gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most prolific gold belts in the world with over 150 million proven ounces uncovered and current investment in excess of $2.5 B USD. Castle Peak is now working to commence an aggressive exploration program on identified gold targets.
On behalf of the Board of Castle Peak Mining Ltd.:
Darren Lindsay, President & CEO
For additional information please visit www.castlepeakmining.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements which are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from targeted results the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Castle Peak disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Castle Peak Mining Ltd.
Marlo Hamer-Jackson
Investor Relations Manager
604 681 1466 (X235)
604 681 1404 (FAX)
marlo@castlepeakmining.com
www.castlepeakmining.com