Amended - Copper Intercepts at Jupiter

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ASX Announcement9 November 2021

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BROAD HIGH GRADE COPPER INTERCEPTS FROM JUPITER DEEPS

Castile Resources Limited (ASX:CST) ("Castile" or "the Company") is pleased to advise that it has received assays from two navi-wedges drilled into the Jupiter Deeps zone at its Rover 1 IOCG project.

Both holes (21CRD005-2 and 21CRD005-2A) targeted the upper sections of the Jupiter Deeps magnetite body and have revealed strong zones of copper mineralisation that is significantly wider than had previously been interpreted. As is typical in this upper part of the IOCG alteration strong copper grades are accompanied with moderate gold grades.

• Hole 21CRD005-2 returned the following assays (Figure 1):
  33.2m @ 2.3% Cu (TW of 30m) with 0.8g/t Au and 0.1% Co from 813.9m and; 11.1m @ 2.8% Cu (TW of 10m) with 0.6g/t Au and 0.1% Co from 878m
  including 4.2m @ 5.2% Cu with 0.7g/t Au and 0.2% Co from 884m downhole
• Hole 21CRD005-2A returned the following assays (Figure 2):
  41.7m @ 2% Cu (TW of 38m) with 0.2g/t Au and 0.1% Co from 821.3m

inc 8.5m @ 3.3% Cu with 0.1g/t Au and 0.1% Co from 831.5m

inc 2.4m @ 4% Cu with 0.6g/t Au, 0% Bi, 0.1% Co and 0g/t Ag from 853m

Castile Managing Director, Mark Hepburn said:

"We continue to see these fantastic widths of high grade copper accompanied by a gold credit within the upper section of the IOCG body at Jupiter Deeps. Again, some sections have assayed in the 4% and 5% range within the overall intercept. All holes drilled into Jupiter and Jupiter Deeps orebodies this year have expanded the dimensions of the mineralised system with 21CRD005-2B and 21CRD005-3 being last holes of the 2021 resource definition program at Rover 1 with assays pending. Castile looks forward to updating the market with a revised resource estimate including these new areas of mineralisation, and we anticipate that the strong drilling results obtained during 2021 will lead to a superior commercial outcome when incorporated into mining studies".

Figure 1: Hole 21CRD005-2 core (884m-888m downhole) displaying heavily mineralised zone

For personal use only

ASX Announcement9 November 2021

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Figure 2: Schematic Cross Section of Hole 21CRD005-2

Figure 3: Schematic Cross Section of Hole 21CRD005-2A

For personal use only

ASX Announcement9 November 2021

______________________________________________________________________________

Mark 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

Competent Person Statement

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 undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting 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.

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.

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	ASX Announcement
	Table 1: Significant Gold and Copper intersections returned from Hole 21CRD005-2 and 21CRD005-2A

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	ASX Announcement
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	Section 1 Sampling Techniques and Data
	(Criteria in this section apply to all succeeding sections.)
		Criteria	JORC Code explanation		Commentary
		Sampling	• Nature and quality of sampling (e.g. cut channels,		• All data used in the following sections at Rover 1 has
		techniques		random chips, or specific specialised industry		been gathered from diamond core. Multiple sizes
use		standard measurement tools appropriate to the		have been used historically; HQ, NQ and BQ.
	minerals under investigation, such as down hole
	gamma sondes, or handheld XRF instruments, etc.).		• Samples are selected to lie on geological
	These examples should not be taken as limiting the		boundaries, with intervals selected of lengths
	broad meaning of sampling.		between 0.1 to 1.1m. Samples are halved using an
• Include reference to measures taken to ensure		automatic core saw then individual samples
	sample representivity and the appropriate		collected in prenumbered calico sample bags.
				calibration of any measurement tools or systems
				used.		• To ensure representivity of analysis, field blanks and
personal	• Aspects of the determination of mineralisation that		certified reference material is inserted in a nominal
	are Material to the Public Report.		ratio of 1:20 samples.
•	other type, whether core is oriented and if so, by
			In cases where 'industry standard' work has been		• Sample recovery is recorded on retrieval of the core
				done this would be relatively simple (e.g. 'reverse
				circulation drilling was used to obtain 1 m samples		tube, measuring recovered core against drill string
				from which 3 kg was pulverised to produce a 30 g		advance. No apparent relationship has been
		Drilling		charge for fire assay'). In other cases, more		observed between sample recovery and grade. No
		techniques		explanation may be required, such as where there is		has sample bias due to preferential loss or gain of
				coarse gold that has inherent sampling problems.		fine or coarse material been noted.
				Unusual commodities or mineralisation types (e.g.
				submarine nodules) may warrant disclosure of
		Drill sample		detailed information.
		• Drill type (e.g. core, reverse circulation, open-hole
		r covery		hammer, rotary air blast, auger, Bangka, sonic, etc.)
				and details (e.g. core diameter, triple or standard
				tube, depth of diamond tails, face-sampling bit or
For		what method, etc.).
• Method of recording and assessing core and chip
	sample recoveries and results assessed.
			• Measures taken to maximise sample recovery and
				ensure representative nature of the samples.
			• Whether a relationship exists between sample
				recovery and grade and whether sample bias may
				have occurred due to preferential loss/gain of
				fine/coarse material.
		Logging	• Whether core and chip samples have been		• All geological data has been visually logged and
				geologically and geotechnically logged to a level of		validated by the relevant area geologists, recording
				detail to support appropriate Mineral Resource		lithology, alteration, mineralisation, structure,
				estimation, mining studies and metallurgical studies.		veining, magnetic susceptibility and geotechnical
			• Whether logging is qualitative or quantitative in		data.
				nature. Core (or costean, channel, etc.)		• Logging is quantitative in nature.
				photography.		• All holes are logged completely.