Carlisle Goldfields Limited closes private placement financing



    TORONTO, June 5 /CNW/ - Carlisle Goldfields Limited (TSX: CGJ) (the
"Company") is pleased to announce the closing of a brokered private placement
of non-interest bearing, convertible debentures (the "Debentures") aggregating
CDN$165,000 (the "Private Placement"). For a period of 24 months from the date
of issuance, each Debenture is convertible into units of the Company (the
"Units") upon payment of the price of $0.03 (Canadian) per Unit. Each Unit
consists of one fully paid non-assessable common share of the Company and one
common share purchase warrant (the "Warrants"), where each Warrant entitles
the holder thereof to purchase one additional common share of the Company at
an exercise price of $0.05 (Canadian) within 24 months from the date of
conversion of the Debenture.
    The Company engaged the use of brokers in this Private Placement where
brokers were paid a cash commission of 8% of the total gross proceeds raised
by the Company in connection with this Private Placement and broker's
compensation options (the "Broker's Options") equal to 8% of the total number
of Debentures placed by the Company. Each Broker's Option entitles the holder
thereof to purchase one Debenture of the Company on the same terms and
conditions as those offered pursuant to the Private Placement as described
above.
    The securities issued pursuant to this Private Placement will be subject
to a hold period of four months and a day from June 4, 2009. This placement
was conditionally approved by the TSX with final approval subject only to the
filing of certain post-closing documentation.

    About Carlisle Goldfields Limited

    Carlisle Goldfields Limited, a Canadian based Gold Exploration and
Development company, focused on its 20,000 hectare land position in the Lynn
Lake Greenstone Belt of Manitoba where the Company has defined reserves of
412,000 ounces of gold and is expecting to define additional resources in the
range of 400,000 to 800,000 ounces of gold. The primary target is the former
producing MacLellan Gold Mine where the Company is working towards a
re-commencement of production.

    This document may contain forward-looking statements relating to Explor's
operations or to the environment in which it operates. Such statements are
based on operations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties that are
difficult to predict and may be beyond the Company's control. A number of
important factors could cause actual outcomes and results to differ materially
from those expressed in forward-looking statements, including those set forth
in other public filings. In addition, such statements relate to the date on
which they are made. Consequently, undue reliance should not be placed on such
forward-looking statements. The Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.

    %SEDAR: 00024639E




For further information:

For further information: Carl McGill, President & Chief Executive
Officer, Tel: (416) 278-8406, Fax: (416) 703-3695

Organization Profile

CARLISLE GOLDFIELDS LIMITED

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