Bundi Prospect ‐ Significant RAB drilling intercepts, Total Graphitic Carbon (TGC)

HoleID

Northing

Easting

RL

Azimuth

Dip

Hole depth

Intercept

14SWRB2520

1032199

535437

235

90

‐60

50

25m @ 2.44% TGC from 25m to EOH

14SWRB2531

1032601

534999

235

90

‐60

27

5m @ 1.1% TGC from 22m to EOH

14SWRB2532

1032599

534960

242

90

‐60

30

7m @ 1.8% TGC from 23m to EOH

14SWRB2533

1032599

534918

237

90

‐60

36

26m @ 1.2% TGC from 10m to EOH

14SWRB2538

1032601

534719

234

90

‐60

30

NSR

14SWRB2539

1032601

534682

222

90

‐60

39

17m @ 1.25% TGC from 22m to EOH

14SWRB2540

1032599

534641

220

90

‐60

27

NSR

14SWRB2575

1033001

535462

224

90

‐60

19

10m @ 2.8% TGC from 9m to EOH

14SWRB2628

1034599

535421

226

90

‐60

22

15m @ 3.1% TGC from 7m to EOH

Criteria

JORC Code explanation

Certified Person Commentary

Sampling techniques

Nature and quality of sampling (e.g. cut channels,

random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Sampling has been undertaken using a Rotary Air Blast

(RAB) drilling rig and collected in 1 m intervals.

Sampling techniques

Include reference to measures taken to ensure

sample representivity and the appropriate calibration of any measurement tools or systems used.

Drill hole collar coordinates are in UTM grid (UTM

WGS84 Zone 30N) and are measured by handheld GPS

with accuracy of +/‐2m.

Sampling techniques

Aspects of the determination of mineralisation

that are Material to the Public Report.

As per section below.

Sampling techniques

In cases where 'industry standard' work has been

done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

Rotary Air Blast (RAB) drilling was used to obtain 1m

open‐hole samples, from which 5m composite samples were taken and sent to the laboratory where

2kg was pulverised and assayed for total graphitic carbon.

Drilling techniques

Drill type (eg core, reverse circulation, open‐hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of Diamond tails, face‐ sampling bit or other type, whether core is oriented and if so, by what method, etc).

RAB drilling has been conducted using a blade bit, usually to depth of refusal at the fresh rock interface. A hammer bit was used to penetrate any quartz veins encountered.

Drill sample recovery

Method of recording and assessing core and chip

sample recoveries and results assessed.

No methods for ascertaining RAB sample recoveries

have been conducted. On the whole sample recoveries were good, with large samples recovered, and with variable levels of groundwater intersected to date.

Drill sample recovery

Measures taken to maximise sample recovery and

ensure representative nature of the samples.

No special measures have been undertaken -

standard industry drilling techniques have been applied.

Drill sample recovery

Whether a relationship exists between sample

recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

This relationship has not been tested, as it is not

believed to be a concern.

Logging

Whether core and chip samples have been

geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

RAB chip samples have been routinely geologically

logged and photographed in the field by geologists. The day's drilling plod sheets, and the collar, survey, logging and sampling data, were checked by the Senior Geologist, and sent to the Perth office each evening for loading into the company database.

No specific geotechnical of metallurgical logging has been undertaken on the RAB drill samples to date.

Logging

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

Logging includes noting lithology, colour, weathering, grain size, structure, alteration, sulphide mineralisation, and veining.

The sample piles, and washed chips, of each complete

RAB hole are photographed.

The total length and percentage of the relevant

intersections logged.

Every metre sample from every hole has been logged

individually.

Sub‐sampling techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

No core drilling to date.

Sub‐sampling techniques and sample preparation

If non‐core, whether riffled, tube sampled, rotary

split, etc and whether sampled wet or dry.

5m RAB composite samples scooped from several

places from each 1m sample pile.

Sub‐sampling techniques and sample preparation

For all sample types, the nature, quality and

appropriateness of the sample preparation technique.

5m composites in RAB drilling is considered

appropriate for first‐pass work to indicate the presence of mineralisation, in anticipation of subsequent follow up drilling and sampling.

Sub‐sampling techniques and sample preparation

Quality control procedures adopted for all sub‐

sampling stages to maximise representivity of samples.

Every 50th RAB sample is taken as a duplicate sample.

Sub‐sampling techniques and sample preparation

Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second‐half sampling.

Analysis of duplicate results has not raised any concerns about sample quality to date.

Sub‐sampling techniques and sample preparation

Whether sample sizes are appropriate to the grain size of the material being sampled.

The chosen sampling techniques are considered appropriate.

Quality of assay data and laboratory tests

The nature, quality and appropriateness of the

assaying and laboratory procedures used and whether the technique is considered partial or total.

All RAB gold samples were submitted to Intertek

Laboratory in Tarkwa, Ghana, for 50g Aqua Regia analysis for Au. Preparation was by drying and pulverising <2kg to nominally 95% passing 75μm in LM2 mill (lab method "PT01"). Sample pulps were then sent to Intertek Perth for graphite analysis using method C73/CSA with a 0.1% detection limit for Total graphitic carbon (TGC). Graphitic carbon method, removal of C‐CO3 and volatile Organic C. Analysed by Infrared Spectrometry. C‐TGC ‐ Carbon remaining after digestion of sample with HCl and heating at

420C. The assay technique is considered as total.

Results were sent by email as "csv files" to the Wa and Perth offices.

QAQC sample results (blanks, standards and duplicates) were checked and any problems were communicated and addressed with the lab before results were entered into the Castle database.

Sample pulps from the 2013 drilling have yet to be recovered and as a result only a portion of the prospective horizons identified have been assayed for graphitic carbon. Only sample pulps for the 2014 drilling program have been recovered.

Quality of assay data and laboratory tests

For geophysical tools, spectrometers, handheld

XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

Not applicable

Quality of assay data and laboratory tests

Nature of quality control procedures adopted (e.g.

standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

Duplicate samples were taken every 50th sample.

Blank samples (obtained from a stone quarry near

Wa) were inserted every 20th sample.

QAQC analysis and reporting has not highlighted any areas of concern.

Verification of sampling and assaying

The verification of significant intersections by either independent or alternative company personnel.

RAB holes with significant intersections were visually checked and agreed with field logging of graphitic zones.

The use of twinned holes.

No holes have been twinned to date.

Documentation of primary data, data entry

procedures, data verification, data storage

(physical and electronic) protocols.

The daily drilling plod sheets, and the collar, survey,

logging and sampling data, were checked by the Senior Geologist, and sent to the Perth office each evening for loading into the company database.

Lab assay results were sent by email as "csv files" to the Wa and Perth offices.

QAQC sample results (blanks, standards and duplicates) were checked and any problems were communicated and addressed with the lab before results were entered into the Castle database.

Discuss any adjustment to assay data.

There has been no adjustment to assay data.

Location of data points

Accuracy and quality of surveys used to locate drill

holes (collar and down‐hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Drill hole collar coordinates are in UTM grid (UTM

WGS84 Zone 30N) are measured by handheld GPS

with accuracy of +/‐2m.

RAB holes were not down hole surveyed.

Location of data points

Specification of the grid system used.

UTM grid (UTM WGS84 Zone 30N) used exclusively

Location of data points

Quality and adequacy of topographic control.

The topography in the area is largely flat. No other relative level (RL) control was used other than handheld GPS measurements, which in RL may be accurate to +/‐20m.

Data spacing and distribution

Data spacing for reporting of Exploration Results.

RAB spacing ranged from 100m to 200m lines, and

20m to 40m collar spacing.

Data spacing and distribution

Whether the data spacing and distribution is

sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

No resource has been estimated.

Data spacing and distribution

Whether sample compositing has been applied.

RAB intercepts reported are from 5m composites.

Orientation of data in relation to geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

Both the Bundi and Kpali mineralised structures appear to be striking N to NNE, and dipping steeply to the west. The drilling azimuth of 090 appears to be appropriate at both prospects.

Orientation of data in relation to geological structure

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

There is not considered to be any significant sampling bias from current information.

Sample security

The measures taken to ensure sample security.

Samples are systematically numbered and recorded, bagged in labelled polyweave sacks, and dispatched in batches to the lab using local transport. The lab confirms receipt of all samples on the submission

form on arrival at the lab.

Audits or reviews

The results of any audits or reviews of sampling techniques and data.

No audits or reviews of sampling techniques have been conducted.

Analysis of performance of QAQC samples for the

2013‐2014 field season has been undertaken with no issues highlighted.

Criteria

JORC Code explanation

Certified Person Commentary

Mineral tenement and land tenure status

Type, reference name/number, location and

ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

All the work contained in this report has been

conducted on the 100% owned Degbiwu Prospecting Licence, granted on 30 April 2012, part of the Wa Project in NW Ghana. The Wa Project is 100% owned by Carlie Mining Limited (subject to Ghanaian Government right to a free‐carried 10% interest). Carlie Mining is a 100% owned subsidiary of Castle Minerals Limited. The Licence was granted for a term of 2 years and is renewable. Castle has lodged an application for extension of the licence.

Mineral tenement and land tenure status

The security of the tenure held at the time of

reporting along with any known impediments to obtaining a licence to operate in the area.

The Licence was granted for an initial term of 2 years

and is renewable. Castle has lodged an application for extension of the licence.

Exploration done by other parties

Acknowledgment and appraisal of exploration by

other parties.

No previous exploration data is known from the

immediate Degbiwu PL area, apart from wide‐spaced regional BLEG sampling by Newmont, and regional geological mapping by Russian geologists in the 1960s.

Geology

Deposit type, geological setting and style of

mineralisation.

Castle is exploring for mesothermal gold deposits in

the Birimian host‐rocks of NW Ghana. The highly anomalous levels of zinc in the Bundi Au‐Zn prospect has highlighted there may also be potential for base metal (possibly VHMS‐style) deposits in the Degbiwu PL area. Graphitic schist has been observed in RAB drill cuttings.

Drill hole

Information

A summary of all information material to the

understanding of the exploration results including a tabulation of the following information for all Material drill holes:

 easting and northing of the drill hole collar

 elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

 dip and azimuth of the hole

 down hole length and interception depth

 hole length.

Appropriate tabulations for all significant RC and RAB

results in the Degbiwu PL area have been included in previous announcements to the ASX about Bundi and Kpali prospects:

22nd April 2013

6th May 2013

20th May 2013

23rd May 2013

24th May 2013

17th June 2013

4th July 2013

28th January 2014

31st January 2014

18th February 2014

30th July 2014

Drill hole

Information

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

Appropriate tabulations for all significant RC and RAB gold results in the Degbiwu PL area have been included in previous announcements to the ASX. No previous graphite assays have been reported from Degbiwu.

Data aggregation methods

In reporting Exploration Results, weighting

averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut‐off grades are usually Material and should be stated

RAB assay intercepts are generally reported above

1.0% total graphitic carbon (TGC).

Data aggregation methods

Where aggregate intercepts incorporate short

lengths of high grade results and longer lengths of low grade results, the procedure used for such

Higher‐grade internal zones within a broader

mineralised zone may be reported if there is one or more unusually high grades in an otherwise consistent

aggregation should be stated and some typical

examples of such aggregations should be shown in detail.

zone.

The assumptions used for any reporting of metal

equivalent values should be clearly stated.

No metal equivalence used or stated.

Relationship between mineralisation widths and intercept lengths

These relationships are particularly important in

the reporting of Exploration Results.

RAB holes are drilled at ‐60 to 090.

Relationship between mineralisation widths and intercept lengths

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

From interpretation of available data, it is believed that on average the strike of mineralisation is N‐NNE, and dipping steeply W.

Relationship between mineralisation widths and intercept lengths

If it is not known and only the down hole lengths

are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

Only the downhole lengths are reported.

The true width is not precisely known at this time.

Diagrams

Appropriate maps and sections (with scales) and

tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

See diagrams in this announcements.

Balanced reporting

Where comprehensive reporting of all Exploration

Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

Appropriate tabulations for all significant RC and RAB

gold results in the Degbiwu PL area have been included in previous announcements to the ASX.

Other substantive exploration data

Other exploration data, if meaningful and

material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

No other material exploration data to report at this

time.

Further work

The nature and scale of planned further work (e.g.

tests for lateral extensions or depth extensions or large‐scale step‐out drilling).

Further work planned as stated in this announcement.

Further work

Diagrams clearly highlighting the areas of possible

extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

See diagrams in this announcement.