Introduction

The Akoko Project consists of two granted Prospecting Licences and is located ~10 km east of Adamus Resources’ Salman gold project and 40km south of the Prestea gold mine.

Exploration by Castle has resulted in the definition of a JORC Code compliant resource estimate for the Akoko Project totalling 1.7Mt @ 1.9g/t gold for 103,300 ounces. This resource is made up of two separate gold deposits known as Akoko North and Akoko South.

The Akoko Project is located 25km south of Tarkwa in south west Ghana in the prolific gold producing Ashanti belt. Gold mineralisation was first discovered on this greenfields project by Castle in late 2007. Since that time Castle has undertaken eight RC drill programs and defined substantial oxide gold mineralisation. Runge Limited completed an independent resource estimate for the Akoko South and Akoko North gold deposits and estimated a total Indicated and Inferred Mineral Resource of 103,000 ounces.

Significant results reported from the latest phase of RC drilling at Akoko North include:

Gold mineralisation occurs within near surface horizontal zones up to 150m wide. These zones are laterally continuous and can be traced along strike for at least one kilometre. The mineralised zones are typically hosted within medium grained sediments and quartz veining is common.

A number of soil anomalies remain untested including a significant anomaly straddling a granite greenstone contact along the south eastern side of the Project area. This area will be the target of regional exploration during 2012.

Updated June 2012