Castle Silver signs MOU for Processing Material from Granada Gold

Potential synergies exist in terms of processing Granada material while also advancing the Company’s overall objectives.

Castle Silver Resources Inc. (TSX.V: CSR, OTC: TAKRF, FRANKFURT: 4T9B) (the “Company” or “CSR”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with Granada Gold Mine (“Granada Gold”) for the consideration of the processing of mineralized material from the Granada mine over the next three years just across the border in northern Ontario.

As part of the MOU, CSR is undertaking a study to install a 600 tonne per day gravity flotation plant at one of its two properties where mills have operated in the past. Potential synergies exist in terms of processing Granada material while also advancing CSR’s overall objectives in the burgeoning northern Ontario Cobalt Camp as outlined in earlier news releases.

CSR and Granada Gold share common directors and Qualified Persons.

Qualified Person

Claude Duplessis, P. Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant, is an independent qualified person in accordance with National Instrument 43-101, and has reviewed and approved the contents of this news release.

About Castle Silver Resources Inc.

Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture-listed junior natural resource company focusing on the exploration and development of former silver and cobalt mine properties in northern Ontario including the Castle Silver mine near Gowganda and the Beaver and Violet mines near Cobalt. Additional information on the Company’s properties is available by visiting its website at www.CastleSilverResources.com.

“Frank J. Basa”

Frank J. Basa P. Eng.

President and Chief Executive Officer

For further information, contact:

Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144, or

Wayne Cheveldayoff, Investor Relations, [email protected], 416-710-2410

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.