Castle Minerals Limited advises that at least ten robust lenses of graphitic mineralisation containing high-grade zones with excellent continuity have been confirmed by a 30-hole, 2,622m RC infill and 4-hole, 365.2m diamond core drilling campaign at the rapidly emerging Kambale Graphite Project, Ghana. Many holes returned impressive, multiple, thick, high-grade intercepts including 58m at 12.0% TGC (22CKR061), 69m at 10.3% TGC (22CKR062), 11m at 16.9% TGC (22CKR070) including 3m at 23.9%, 50m @ 10.7% TGC (22CKRR074), 23m at 17.1% TGC (22CKR075) and 25m at 12.9% TGC (22CKDD002). The lenses, which extend from surface to at least 100m depth, can now be clearly delineated and will form the basis for a maiden JORC 2012 Mineral resource estimate expected to be complete by end- March 2023.

Kambale is emerging as a credible deposit of quality, dominantly fine-flake graphite justifying the fast-track evaluation adopted by Castle over the past twelve months. This is in response to the widely forecast and looming supply deficit expected for this "Critical Mineral" as the World rushes to meet its clean energy ambitions. a ground electromagnetic HLEM survey that identified several conductor plates expected to correlated with graphitic schist mineralisation already known to be present in the area from former trenching and RAB drilling; a prior maiden 52-hole, 5,353m RC drill program that successfully confirmed the correlation between the HLEM conductor plate targets and graphitic mineralisation and which also demonstrated that the overall foot print of the deposit extends at least 2.5km north-south over a combined width of up to 0.5km; and an independently estimated JORC 2012 Exploration Target of 16.82 million tonnes to 50.46 million tonnes at a grade between 6.74% TGC and 10.40% TGC .

The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource.

It is uncertain if further exploration will result in the estimation of a Mineral Resource. The recent drilling has also provided a much better understanding on the geological and structural controls of the graphite mineralisation. This will greatly assist continuing efforts to expand the deposit's local footprint but also regionally within the 149km2 Kambale prospecting licence.

A regional mapping campaign is underway guided also by historical reports and maps which have highlighted a broad northwest trending corridor of primary interest.