Castle Peak Mining Ltd. Launches 2012 Drill Program

Castle Peak Mining Ltd. ("Castle Peak" or "the Company") (TSX VENTURE:CAP) is
pleased to provide an update on its 2012 exploration program at the Akorade
Project, Ghana, Africa.


The initial follow up drill program has commenced on the higher grade Apankrah
target (2.8 metres ('m') of 17 grams per tonne ('g/t') gold ('Au') and 2.2m of
24 g/t Au; previously reported January 3 ,2012 and June 6, 2011) and then will
move to evaluate exploration targets identified on parallel and link structures
(Nana and Scorpio). Additional follow up drill metres are allocated to the
Dansuom target (11m of 3 g/t Au; previously reported November 15, 2011), which
is host to a sheared contact zone between metavolcanic rocks and a deformed
small volume intrusive unit.


Drilling at the Apankrah target will focus on confirming the geometry of the
potential high grade shoot, then on success shift to evaluating shoot expansion
potential. Based on the confirmed Apankrah geometry, further exploration
targeting will be conducted on parallel structures in the area; more
specifically the Nana target, a known parallel structure north of Apankrah, and
at the Scorpio target, which is interpreted to be a NNE control or link
structure for the higher grade shoot(s). Refer to
http://www.castlepeakmining.com/i/maps/Nkwanta-Plan-Map_Zoom.pdf for further
information on the interpreted link structure.


President & CEO, Darren Lindsay states, "This follow up drill program on the
higher grade Apankrah target will give us further indications of resource
potential for the Apankrah, Nana, Scorpio and a new artisanal mining site just
north of our planned drilling. Additional phase I targets are being generated
around the Dansuom target, the Asuogya-Ayiem trend and initial field work is
occurring on areas such as Great Yorkshire and Dompem. All activities are
progressing well for Castle Peak and should allow us to start unlocking new
resource potential on the southern Ashanti Belt."


The exploration program is currently being carried out on two fronts: target
generation which includes mapping, prospecting, line cutting, sampling,
trenching and geophysical surveys within key structural corridors; and a drill
evaluation program split between initial target testing (Phase 1) and high
potential follow up drilling (Phase 2). Initial passes of reconnaissance have
been completed on all 9 concessions within the Akorade Project, with additional
field activities currently prioritized for target development on the Great
Yorkshire, Dompem, POW and Asuogya-Ayiem concessions. Exploration activities on
all concessions are continually compiled and re-evaluated in order to prioritize
the targets that have the strongest potential to provide Castle Peak with its
initial resource base. 


It is anticipated that the target generation and drill evaluation programs of
2012 will allow Castle Peak to identify and focus on key targets in order to
initiate potential resource definition drilling programs by the time the dry
season returns late in 2012.


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 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. 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.


About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company
focused on advancing greenfield 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 with over 150 million proven ounces uncovered
and current investment in excess of $3.3B USD. 


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

Darren Lindsay, President & CEO   

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. 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.
Castle Peak Mining (TSXV:CAP)
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