TORONTO, ONTARIO--(Marketwire - June 12, 2012) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce it has received the statutory right of way from the British Columbia Ministry of Forests, Lands and Natural Resource Operations for the 17 kilometre long Granduc Tunnel. The tunnel connects the underground mine site to the Granduc road which leads directly to year round port facilities in Stewart, B.C.
"This key piece of permitting allows Castle to access the underground mine site through the tunnel for a renewable period of 30 years. The right of way is vital to the strong infrastructure Castle acquired with the Granduc Copper Project," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "The tunnel was rehabilitated in 2011 and is fully accessible by mobile equipment."
The Granduc tunnel was constructed in the mid-1960s by Newmont Mining, the developer and initial operator of the Granduc Mine. The tunnel was designed for rail transportation of ore, people and supplies between the underground mine and the mill. In 2011 Castle Resources contracted Procon Mining and Tunneling to refurbish the tunnel and provide efficient and safe mobile access for operations.
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 in Stewart, B.C. For more information please visit the Castle Resources website at www.castleresources.com.
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.