Castle Peak Mining Ltd. Announces Termination of Proposed Transaction

Castle Peak Mining Ltd. (TSX VENTURE:CAP) ("Castle Peak" or "the Company")
announces that the Company has mutually agreed to terminate the Memorandum of
Understanding with Beijing Donia Resources Co. Ltd. announced on February 2,
2012. Castle Peak continues on track with its planned exploration program using
proceeds from the recently closed brokered private placement (NR June 4, 2012).
Additional funding opportunities will be evaluated to ensure the Company can
execute on exploration opportunities as they arise.


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.