CAP Castle Peak Mining Ltd

Castle Peak Mining Ltd. ("Castle Peak" or the "Company") (TSX VENTURE:CAP), is
pleased to announce it has commenced an 1,100 metre ('m') follow up drill
program on its high grade Apankrah target at the Company's Akorade Project in
the southern Ashanti belt, Ghana, Africa (see Figure 1 Apankrah Target, Akorade
Project Location Map). The program will encompass four to five holes, with the
first two holes targeting down dip and down plunge of drill hole NKDDH022
announced in August, which returned (uncut) 80 grams per tonne ('g/t') gold
('Au') across the 6.0m mineralized structural zone within a 17m intersection of
lower grade gold mineralization. Other drill holes that define the high grade
shoot include 10.0m of 6.7 g/t Au and 9.8m of 6.8 g/t Au from holes NKDDH017 and
NKDDH018 respectively.


Darren Lindsay, President and CEO, stated, "We are very excited to be working
towards the further definition of a significant high grade discovery at
Apankrah. Given its close proximity to several low grade producers, the Apankrah
Target may be the anchor point we have been looking for to begin our resource
growth."


The Company completed 3,000m of drilling in 2012 to partially define the
Apankrah Shoot, a steeply plunging high grade shoot with a strike length
averaging over 100m and increasing with depth and a down plunge/dip extent of
over 200m and remains open (see Figure 2 Apankrah Shoot Longitudinal Section).
This high grade shoot is located within the auriferous Apankrah structure which
has a known strike length of greater than 350m and is open in all directions.


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, putting Ghana as the second largest gold
producer in Africa with past production of greater than 150 million ounces. The
investment inflow for Ghana's mining sector was $2.5 billion from 2009 to 2011,
with increasing annual production reaching 3.6 million ounces in 2011 (source:
Ghana Business News, November 11, 2012
http://www.ghanabusinessnews.com/2012/11/11/ghana-gets-2-5b-in-mining-investments-in-three-years-report/).


On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer

Technical Disclosure

Castle Peak's technical disclosure in this news release has been reviewed and
approved by Darren Lindsay, P.Geo., Castle Peak's President and CEO, who serves
as a Qualified Person under the definition in National Instrument 43-101 ('NI
43-101'). The exploration activities are supervised by Clive Arthur, Castle
Peak's Vice President Exploration. The procedures include the systematic
insertion of blanks, standards and duplicates into the sample stream both in the
field and at the lab; samples are placed in sealed bags and are delivered to SGS
Laboratory Services GH Ltd. in Tarkwa, Ghana, for routine gold analysis by 50g
charge fire assay with atomic absorption finish. Samples with visible gold or
returning greater than 5 g/t Au from fire assay are subject to analysis using
screen metallic assay. The Akorade project is an early stage exploration project
and does not contain any mineral resources as defined by NI 43-101. The
potential quantities and grades disclosed herein are conceptual in nature and
there has been insufficient exploration to define a mineral resource for the
targets disclosed herein. It is uncertain if further exploration will result in
these targets being delineated as a mineral resource. Further information is
available in the NI 43-101 compliant technical report dated February 14, 2011
and entitled "NI 43-101 Technical Evaluation Report on Nkwanta & Ayiem
concessions, Wassa-West District, Republic of Ghana, West Africa" authored by
Daniel Gaudreault, P.Eng. and Alain-Jean Beauregard, P.Geol. of Geologica
Groupe-Conseil Inc., and in the NI 43-101 compliant technical report dated
January 2, 2012 and entitled "NI 43-101 Technical Report on the Asuogya License,
Ghana" authored by Gareth O'Donovan, Corporate Exploration Consultant, of SRK
Exploration Services Ltd, copies of which are filed under the Company's profile
on SEDAR at www.sedar.com.


FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain
'forward-looking information' and 'forward-looking statements' within the
meaning of applicable securities laws including statements regarding proposed
exploration, sampling and drilling at the Akorade Project and statements
concerning the anticipated results of that exploration, sampling and drilling.
Such forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to known and
unknown risks, uncertainties and assumptions that could cause actual results to
vary materially from the anticipated results or events predicted in these
forward-looking statements, including those risk factors identified in the
Company's Annual MD&A and Filing Statement filed under the Company's SEDAR
profile. As a result, readers 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.


To view the Figures associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/cap-1114-figures.pdf.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Castle Peak Mining Ltd.
Marlo Hamer-Jackson
Investor Relations Manager
604 681 1466 (X225)
marlohj@castlepeakmining.com
www.castlepeakmining.com

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