Castle Peak Appoints Clive Arthur VP Exploration; Board Approves 2012 Phased Exploration Budget

Castle Peak Mining Ltd. ("Castle Peak" or "the Company") (TSX VENTURE:CAP) is
pleased to announce the appointment of Clive Arthur as Vice President
Exploration of Castle Peak.


Mr. Arthur is a commercially astute economic geologist with over 30 years
experience in the mining industry ranging from grassroots exploration, advanced
evaluation and mine development for both precious and base metals. He has worked
for major and junior companies throughout Africa and in Central Asia, Eastern
Europe and Russia and is familiar with the complete range of prospecting
techniques, mine evaluation, engineering and extraction methods. He specializes
in project evaluation and feasibility studies and has a thorough understanding
of the business of exploration and mining.


Darren Lindsay, President and CEO of Castle Peak, commented, "Clive's extensive
experience in the management of exploration programs at greenfield through
development levels will be a great addition to our Ghana based team as they
prioritize the abundant opportunities of the Akorade Project. He will play an
important role in guiding our exploration, definition and development activities
as Castle Peak grows the value of our exploration assets."


Mr. Arthur will be taking charge of the exploration programs in progress and
will be responsible for the development and implementation of exploration and
delineation policies, processes, procedures and controls related to the
exploration and development of existing and potential new projects.


2012 Exploration Program

The Company also announces the Board approval of a $5 million phased exploration
budget. Castle Peak plans to execute a follow up drill program on the high grade
Apankrah target with additional evaluation drilling to be undertaken on the Nana
and Dansuom targets totaling up to 5,000m. A regional target generation,
prioritization and drill evaluation program will also be undertaken totaling up
to 5,000m. As part of the new target generation program, ground based
geophysical surveys (Induced Polarization, magnetics, gradient IP) to complement
the existing comprehensive geological database will be completed.


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 $2.5 B 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, development and drill programs 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.