VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2008) - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX VENTURE:CSG) is pleased to announce the appointment of Thomas Atkins as President, CEO and Director of the Company effective immediately. Coincident with the appointment of Mr. Atkins, the Board of Directors being put forward at the Castle Gold AGM (scheduled to be held on June 30th, 2008 in Vancouver British Columbia) will be comprised of five highly qualified independent professionals, including: Chester F. Millar, Leonard Harris, Edward G. Thompson, James Mark Plaxton and Richard J. Adams, plus Mr. Atkins. Mr. Atkins is the only management member of the newly restructured Board of Directors.

Mr. Atkins has a BSc in geology, a MBA and 23 years experience in the mining industry wherein he has held progressively more responsible management roles. He was most recently President and CEO of Crowflight Minerals Inc. where he guided the company from the advanced exploration stage with a market capitalization of approximately $20 million in 2005 to an imminent nickel producer with a market capitalization of over $300 million prior to his departure in September 2007. While at Crowflight, Mr. Atkins oversaw the completion of a bankable feasibility study and the commencement of construction of the Bucko Lake Nickel mine (scheduled for production Q3-2008) and exploration activities on the Thompson Nickel Belt properties. Mr. Atkins was directly responsible for raising over $50 million in equity capital, significantly advancing a $55 million project debt facility and negotiated two sweeping amendments to the original earn-in agreements on the Bucko Deposit and Thompson Nickel Belt properties, initially with Falconbridge and later with Xstrata Nickel, including a life-of-mine offtake agreement with Xstrata Nickel.

Prior to joining Crowflight in 2005, Mr. Atkins had been employed in senior management roles, including Vice President Investor and Public Relations and Vice President and/or Manager Corporate Development of various mineral companies, including IAMGold, Ivernia West and Boliden, in the financial services industry as an investment and corporate banker with CIBC World Markets, Bank of Montreal and Citibank Canada and as an exploration and mine geologist and project engineer working extensively throughout the Americas in exploration, project development and project acquisitions for Northgate Exploration and TVX Gold.

James Mark Plaxton, Independent Director, Chairman of the Compensation & Nominating Committee, and Board Appointee for the Management and Board Restructuring commented on the appointment of Mr. Atkins as President and CEO, stating:

"Castle Gold was created on the principles of the 'Chester Millar School of Mine Building', specifically, start with bulk heap leach test mining operations, then based on solid results with a very high degree of confidence in the critical variables, build the commercial mine, and gradually ramp up production as mining and processing optimization methods are implemented and proven on an increasing production scale. As Chester Millar states: "all great mine builders make mistakes, its the nature of the business however, its only the truly successful mine builders that keep these mistakes small prior to implementing solutions and ramping up the operations". The Company believes this is one of the keys to keeping shareholder equity dilution to a minimum and ultimately offering the greatest cumulative return on investment. In addition the management team has been kept lean and was composed principally of engineers and technical mining professionals to allow the Corporation to preserve capital, develop its gold mines and further advance its exploration and development projects.

The Company has reached a transitional stage in its evolution. It has successfully integrated the Morgain and Aurogin business combination and has developed two operating gold mines that are generating cash. Castle Gold needs to attract an appropriate valuation in the equity market with its peers, look to further develop its asset base, and position itself for further growth both organically and through ongoing corporate activity in the junior gold mining sector. Now is the time to appoint a President and CEO with a proven track record in investor relations, finance, human resource management, mergers and acquisitions, and over all corporate development. The board is pleased to be working with Mr. Atkins to ensure the future development and growth of Castle Gold."

Commenting on his appointment to Castle Gold, Mr. Atkins stated:

"I've been engaged in discussions with various levels of management and members of the board of Castle Gold for several months. I was attracted to this opportunity for one simple reason; leverage. Castle Gold has a proven and capable mine development team that have successfully built over 20 producing and profitable gold mines and most recently built and now operate the Castillo and El Sastre gold mines in Mexico and Guatemala. With its current asset base, cash flow and its technical management team, I am confident that together we can advance additional asset and/or corporate growth opportunities within the Americas with the objective of enhancing the value of Castle Gold."

Effective June 2nd, 2008 Mr. Babcock, former President and CEO of the Company remains employed by Castle Gold as a consultant, assisting Mr. Atkins in the transition of his former role. The Board of Directors has invited Mr Babcock to remain with Castle Gold as the Chief Operating Officer. Mr. Babcock is expected to confirm his intentions in the coming weeks.

Castle Gold's professional mine building team is the foundation of the Corporations growth strategy and with the ramping up of the Corporations gold production the Board of Directors and Management are committed to attracting and retaining the very best mining professionals in the industry.

A significant component of Mr. Atkins' remuneration, both bonus and incentive options, are performance based. The Board of Directors has granted Mr. Atkins 65,000 options that vest each quarter and 240,000 options that potentially vest at the end of each year over his initial three-year employment contract. These 1.5 million options, in total, are priced at CAD $0.44 (the 10 day moving average closing price on May 21st, 2008, the date of Mr. Atkins appointment by the Board, as President, CEO, and Director, subject to finalisation of an employment contract), and have a five year term.

About Castle Gold

Castle Gold Corporation is a growth focused gold producer currently expanding gold production within the America's. Castle Gold owns a 100% interest in the El Castillo gold mine in Mexico and a 50% interest in the El Sastre gold mine in Guatemala. Castle Gold is also advancing exploration and development work at its La Fortuna gold project in Mexico and at its El Sastre, El Arenal, Bridge and Lupita Projects in Guatemala.

ON BEHALF OF THE BOARD OF DIRECTORS,

Thomas Atkins, President and CEO