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Castle Peak Mining Ltd announces creation of a subsidiary and closing date of purchase of a prospecting license

Castle Peak Mining Ltd announces creation of a subsidiary and closing date of purchase of a prospecting license

Castle Peak Mining Ltd is pleased to announce that it has incorporated a wholly-owned subsidiary company in the Republic of Ghana named Castle Sika Mining Ltd. (“Castle Sika”).

Pursuant to the Definitive Agreement between Castle Peak and Wononuo Investment Limited (“Wononuo”) for the purchase of a prospecting license from Wononuo for a mineral deposit located in Ghana and as disclosed by news release dated February 20, 2019, Castle Peak plans to use Castle Sika to hold title to the prospecting license and carry out business operations in Ghana. Castle Peak and Wononuo have entered into a further agreement to set the closing date of the Definitive Agreement for October 31, 2021.

About Castle Peak Mining Ltd

The completion of the transaction is subject to a number of conditions including, but not limited to: final approval of the TSX Venture Exchange, fulfillment of the conditions as set out in the Definitive Agreement, and other actions necessary to complete the transaction.

Castle Peak Mining Ltd is a Canadian-based exploration company focused on creating long term value through acquiring and advancing a pipeline of gold properties in Ghana, Africa. The Company holds a strategic 225 square kilometer land package in Ghana’s prolific Ashanti gold belt, which is surrounded by current and past producers (Iduapriem, Nzema, Bogosu/Prestea, Tarkwa, Father Brown). Castle Peak has discovered a small high grade resource, the Apankrah Deposit, to date and identified a number of high potential targets across its land package, any of which could be the next significant gold discovery in Ghana.

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