Castle Resources Provides Corporate Update

Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased
to provide a corporate update for its 100% owned Granduc Copper Project, located
in northwest British Columbia.


"With robust PEA level economics and a significant resource inventory of over 2
billion pounds of copper equivalence the Granduc Copper Project is clearly a
major Canadian brownfield project," stated Mr. Mike Sylvestre, President & CEO
of Castle Resources Inc. "As we enter the early stages of pre-feasibility level
work, we are confident that the Granduc represents a compelling value
investment. The Granduc offers the potential for significant exploration upside,
and with existing infrastructure in place, notably a 54 km access road to the
mine site, a 17 km haulage tunnel, access to port facilities and hydro, many of
the ingredients are in place for the successful redevelopment of this past
producing mine."


Mr. Sylvestre continued: "With the Canadian junior resource equity markets in
distress, the management of Castle has given very careful consideration to all
budgetary decisions. Early this year we decided that cash preservation was our
number one priority, and as such we implemented a strict cash preservation
budget focused on maintaining the financial strength of the company. As of our
last quarterly financial filings, our current assets stand at just over $3
million, with the largest component of that amount being a tax credit receivable
of approximately $1.6 million that Castle received subsequent to the period end.
In addition, we have adjusted employment and consulting costs by downsizing and
have reduced management compensation by 20% across the board. All non-essential
standby costs related to our operations at the Granduc mine site and exploration
camps have been reduced or eliminated. We believe that by having implemented
this strategy early on we have put Castle in a position of strength for the next
phase of growth and development at the Granduc." 


Strategic Partner:

As press released on July 10, 2013, Castle has engaged KPMG Corporate Finance to
assist the company in attracting a strategic partner that will financially
assist in the continued development of the Granduc. Work has been ongoing and
Castle has signed numerous confidentiality agreements as part of the process of
due diligence and analysis. 


Preliminary Economic Assessment (PEA) Recap:

Based on a current NI 43-101 measured & indicated resource of 11.32 million
tonnes grading 1.47% Cu, 0.17 g/t Au and 12.4 g/t Ag and an inferred resource of
44.63 million tonnes grading 1.43% Cu, 0.19 g/t Au & 10.7 g/t Ag the Granduc PEA
demonstrates the following economics for an 8,500 tonnes/day underground mining
operation: a pre-tax net discounted value (NDV 8%) from a start date of Q1 2016
is $489 million with a pre-tax IRR of 20.9%; post-tax NDV 8% of $319 million
with a post-tax IRR of 17.8%, a 4 year payback period and annual production
averaging 70 million pounds of payable copper equivalent over a 15 year mine
life. Initial CAPEX is estimated at $494 million including a 16.3% contingency
of $69 million. Sustaining capital is estimated at $239 million. (see press
release dated February 28, 2013)


Castle would also like to announce today that pursuant to the policies of the
TSX Venture Exchange ("TSX-V"), the Company has granted 200,000 incentive stock
options (the "Options") to a director of the Company to acquire up to an
aggregate of 200,000 common shares of Castle under its stock option plan. All
Options are exercisable until September 12, 2018 at an exercise price of $0.09
per share. The closing price of Castle's common shares on the TSX-V on September
11, 2013, the date immediately preceding the grant, was $0.06 per share.


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


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Castle Resources Inc.
Mike Sylvestre
President & CEO
416-366-4100
msylvestre@castleresources.com


Castle Resources Inc.
Lenny Foreht
VP Corporate Development & Operations
416-366-4100
lforeht@castleresources.com
www.castleresources.com
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