Castile Resources : Results From Explorer 108 - updated

For personal use only

ASX Announcement	30 December 2021
Results from Explorer 108 - updated
Castile Resources Limited (ASX: CST) (CST or the Company) refers	to the announcement dated
29 December 2021 titled "Results from Explorer 108".

The Company provides an updated announcement which includes further information in accordance the requirements of Chapter 5 of the ASX Listing Rules.

For further information please contact:

Sebastian Andre Company Secretary [e-mail]

Figure 1: Schematic Cross Section of Explorer 108 Hole NR108D049-1

145m @ 1.6% Zn and 0.9% Pb with 9.3g/t Ag and 0.6g/t Au from 485m downhole.

inc 4.9m @ 5.7% Zn and 3.1% Pb with 57.8g/t Ag, 0.1% Cu and 7.6g/t Au from 493.1m downhole. inc 7.1m @ 5.7% Zn and 3.4% Pb with 12.9g/t Ag, 0.1% Cu and 0.7g/t Au from 558.9m downhole. inc 2.2m @ 12.6% Zn and 3% Pb with 17.3g/t Ag, 0.1% Cu and 0.5g/t Au from 581.35m downhole. inc 6m @ 2.4% Zn and 1% Pb with 6.5g/t Ag and 0.2g/t Au from 607m downhole.

RESULTS FROM EXPLORER 108

only	29 December 2021
	ASX Announcement

Castile Resources Limited (ASX:CST) (Castile or the Company) is pleased to advise that assays from the Castile's first hole into the existing resource at Explorer 108, Hole NR108D049-1, has returned sections of high grade zinc and lead with trace c pper from a massive 145m mineralised interval. Castile's 100% owned Explorer 108 is located approximately 40kms west of Rover 1 and is easily within trucking distance. Explorer 108 has an existing in situ resource of 11.8Mt 3.2% Zn, 2.00% Pb, 11.1g/t Ag with 5.7Mt at 0.36% Cu (Refer to Annexure A of this announcement for the Company's mineral

user source estimates).

Highlights from Hole NR108D049-1 include the following intercepts: personalFor

ASX Announcement29 December 2021

useonly	Figure 2 : Rover Mineral Field Map showing proximity of prospects to Rover 1
Ca tile Managing Director, Mark Hepburn commented:
personal

"It goes without saying that there are very few projects where a company can produce a massive 145m zinc/lead int rsection from their maiden hole into the target. This great result expands the footprint of the Explorer 108 mineralisation and has reinforced Castile's view that the Explorer 108 area should be the centrepiece of the 2022 drilling campaign. Additionally, Explorer 108 is the obvious target of the next pre-development study in Castile's 'hub and spoke' strategy that includes a centralised processing area at Rover 1 within easy trucking distance of all the other nearby prospective tenements within the Rover Mineral Field."

ForMark Hepburn

Managing Director

Castile Resources Limited

For further information please contact: [e-mail]

Phone: [phone]

Castile Resources Limited

7/189 St Georges Terrace Perth, WA, 6000

This announcement was approved for release by the Castile Resources Board of Directors

onlyCompetent Person Statement

ASX Announcement29 December 2021

The exploration results contained in this report are based on, and fairly and accurately represent the information and supporting documentation prepared by Mark Savage. Mr Savage is a full-time employee of Castile, and a Member of The Australasian Institute of Mining and Metallurgy. Mr Savage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being useundertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for R porting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. Mr Savage consents to the inclusion in the report of the matters based on the exploration results in the form and context in which

they appear.

The Mineral Resources contained in this announcement were first disclosed in the prospectus dated 3 December 2019 and released on the ASX market announcements platform on 12 February 2020 ("Prospectus"). Castile is not aware of any new information or data that materially affects the Mineral Resources personalinc uded in these announcements. All material assumptions and technical parameters underpinning the

estimates in the Prospectus continue to apply and have not materially changed.

Forward Looking Statements

Certain statements in this report relate to the future, including forward looking statements relating to Castile's financial position and strategy. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance, or achievements of Castile to be materially different from future results, performance or achievements expressed or implied by such statements

Actual events or results may differ materially from the events or results expressed or implied in any forward- looking statement and deviations are both normal and to be expected. Other than required by law, neither Castile, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will occur. You are cautioned not to place undue reliance on those statements.

For

onlyusepersonalr	29 December 2021
	ASX Announcement
	Table 1: Significant Intersections returned from Hole NR108D049-1