June 3, 2011

Ottawa allocates funding for environmental assessment on proposed New Brunswick gold mine

The Canadian Environmental Assessment Agency announced this week it will allocate a total of $50,000 to three applicants who have applied to participate in the federal environmental assessment of Castle Resources Inc.'s (TSX.V: CRI) proposed gold mine in New Brunswick.

Castle Resources Inc., a junior mineral exploration firm based in Toronto, has proposed the construction of an open-pit gold mine, dubbed the Elmtree Property Gold Mine Project, about 20 kilometres northwest of Bathurst, New Brunswick. It is subject to a federal environmental assessment.

The organizations eligible to receive the federal funding are Comite d'intervention de la mine d'or Elmtree, Bassins Versants de la Baie des Chaleurs and Bathurst Sustainable Development.

In late 2010, Castle Resources stated that Stantec Consulting Ltd. was proceeding through an environmental assessment, designed to address, among other things, the impact on wildlife and aquatic environments, water resources and wetlands. At that time, a Castle contractor had completed a 4,000-metre infill diamond drill program on the West Gabbro Zone of the Elmtree Property.

DCN DIGITAL MEDIA

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