SAR Saratoga Electronic Solutions

CASTLE GOLD CORPORATION ("Castle Gold") (TSX VENTURE:CSG) is pleased to provide
a further update from the Mergers & Acquisitions Committee ("Committee") on the
strategic alternative review ("SAR") process.


The calibre of the final candidates selected is very high and the advancements
achieved, in the final stage of the SAR process, are very encouraging. Prior to
the recent deadline for submission of final binding offers, two of the
candidates requested more time to complete their detailed technical and
financial evaluations in consideration of potentially submitting a final,
binding offer or definitive agreement. The Committee met to consider these
requests and decided to grant them. The Committee believes that granting the
requested extension to permit completion of the remaining detailed due
diligence, provides the greatest potential benefit for Castle Gold shareholders.


The Committee is pleased with the discussions, negotiations, progress, and
submissions held with and received from the selected candidates to date.
However, the Committee is not able to announce any specifics on the advancements
made in this regard for confidentiality reasons. The Committee does not plan to
provide a further M&A update until there is either an announce able event, such
as the selection and execution of one final definitive agreement for a strategic
transaction, or, alternatively, the Committee elects to proceed with its
alternate aggressive organic growth strategy for maximising shareholder value as
discussed in our most recent news release.


The Committee will continue to proceed with patience and vigilance, actively
working with the candidates to advance their final evaluations. This work is
very time consuming to complete with one candidate, and is extremely time
consuming to effectively complete with multiple candidates. As such, the
Committee appreciates the support and patience of Castle Gold's shareholders.
The Committee plans to communicate to shareholders the final results of the SAR
process at the appropriate time.


Please note that final terms and conditions of any possible strategic
transaction with any of the foregoing candidates, including final price and
final transaction structure, have not been finalized into a mutually acceptable
definitive agreement. There can be no assurance that, as a result of the SAR and
the foregoing activities, a mutually acceptable definitive agreement with
another party will be reached, or that one will occur. If a mutually acceptable
definitive agreement for a strategic transaction is reached with another party,
such transaction would be subject to a number of closing conditions which may or
may not be satisfied.


Forward Looking Statements

Certain statements in this press release constitute "forward-looking" statements
that involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Castle Gold to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. When used in this news
release, words such as "plans", "hope", "encouraging", and "expects" and similar
expressions to the extent they relate to Castle Gold are intended to identify
forward-looking statements. There is no assurance that any strategic transaction
will be completed. Unless required by applicable securities law, Castle Gold
does not assume any obligation to update forward-looking statements.


About Castle Gold

Castle Gold Corporation is a growth oriented gold producer with projects focused
in the America's. The Company owns a 100% interest in the El Castillo gold mine
in Mexico and a 50% interest in the El Sastre gold mine in Guatemala. Castle
Gold is also advancing exploration and development work at its La Fortuna
gold-silver-copper project in Mexico.




For general inquiries, not related to confidential M&A related information,
please contact:

Thomas Atkins                  or   Rory Quinn
President and CEO                   Manager Investor and Public Relations
                  Tel: 416 214 4809 or Toll Free: 1 866 646 3274 

or by fax: 416 366-7421, email: info@castlegoldcorp.com or visit our
website: www.castlegoldcorp.com.

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TSX-V Trading Symbol:                                   CSG
Total Shares Outstanding:                            75.3MM
Fully Diluted:                                       82.8MM
52-Week Trading Range:                       C$0.15 - $0.80
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Saratoga Electronic Solutions (TSXV:SAR)
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