Carlisle optimistic about resource estimate



    TORONTO, Dec. 4 /CNW Telbec/ - Carlisle Goldfields Limited (TSX: CGJ)

    Carlisle continues to work on the modeling of the geologic and mining
data in order to complete a resource estimate on its MacLellan Mine Project in
Lynn Lake, Manitoba, and intends to deliver the report at the earliest
possible date. The Company's objective continues to be to confirm and expand
the stated historic resources of 1,076,000 tonnes, grading 6.31 g/t
(containing approximately 220,000 ounces). The resource estimate is historical
in nature and as such is based on prior data and reports prepared by previous
operators at different periods of time, and using various terms. The work
necessary to verify and reclassify these Mineral Resource Estimates has not
been carried out; therefore they can't be treated as NI 43-101 defined
resources estimated by a qualified person. The historical resource estimates
are not considered as "current" and should not be relied upon as there can be
no assurance that any of the resource, in whole or in part, will ever become
economically viable.
    The new resource estimate is a major first step in Carlisle's overall
objective to further define and increase the resource base at Carlisle's Lynn
Lake properties to target 800,000 to 1,200,000 ounces, as detailed in a Press
Release of Oct 11, 2007.
    The Company had originally intended to make the Resource study available
as early as September, 2007 in a desire to provide a comprehensive digitized
database for the Company. Delays occurred in receiving final drillhole survey
data, and final assay information as is common throughout the industry, which
in turn delayed the commencement of data compilation.
    The current geologic database integrates the results of the 40 drillholes
from the 2007 phase I drill program and over 1,200 historic drillholes dating
as far back as 1965. This totals over 150,000 metres of drilling and over
100,000 assay intervals. As this will be the first Resource Estimate ever
completed in compliance with National Instrument 43-101 definitions on the
property, it is absolutely essential that the report properly accounts for all
of the mineralized intervals. This has required detailed and tightly
controlled interpretation of the mineralized structures, which has been time
consuming. The data has never been analyzed to this level of detail
previously, and as such we believe that the resulting model will serve as a
more efficient tool in the targeting of the mineralized zones and analysis of
our ongoing development work. One important byproduct of this detailed model
will be better targeting of drilling programs in areas of higher grade, once
the phase II drilling program commences in January 2008. Ultimately this will
provide the potential for more ounces per dollar spent.
    Work is being conducted by Carlisle's Manager of Exploration, Peter
Karelse, P.Geo., who has 25 years experience in the mining industry, primarily
related to managing the advancement of exploration projects and performing
resource valuations for gold and base metal projects throughout North America,
in concert with P & E Mining Consultants Inc.

    About Carlisle:

    Carlisle Goldfields Limited, a Canadian based Gold Exploration and
Development company, is the owner of a 20,000 hectare land position in the
Lynn Lake Greenstone Belt of Manitoba where roughly 144,000 ounces of gold and
432,000 ounces of silver were produced between 1986 and 1989. Carlisle's long
term objective is to complete a feasibility study by mid 2008 with a
production decision to follow.

    Mr. Stephen Mlot, P. Eng., President, the qualified person for the
Company, has read and approved the technical content of this news release.

    Notes:

    This news release contains forward-looking statements, which can be
identified by the use of statements that include words such as "could",
"potential", "believe", "expect", "anticipate", "intend", "plan", "likely",
"will" or other similar words or phrases. These forward-looking statements,
including statements regarding the Corporation's beliefs in potential
mineralization, are based on current expectations, assumptions and projections
about future events and entail various risks and uncertainties that are beyond
the Corporation's ability to control or predict. Actual results may materially
differ from expectations as more information regarding a property is gathered
or if the Corporation's estimates or assumptions prove inaccurate. Factors
that may materially affect actual results include, but are not limited to,
political, business and economic conditions in jurisdictions where the
Corporation conducts business, and risks associated with mineral exploration
and production. The Corporation does not intend, and does not assume any
obligations, to update forward-looking statements, whether as a result of new
information, future events or otherwise. Readers should not place undue
reliance on forward-looking statements.




For further information:

For further information: Stephen G. Mlot, President; Carl McGill,
Director of Corporate Development, (416) 368-0028, (416) 703-3695 fax,
www.carlislegold.com, info@carlislegold.com; Renmark Financial Communications
Inc.: Neil Murray-Lyon, nmurraylyon@renmarkfinancial.com; Jen Power,
jpower@renmarkfinancial.com; Media: Eva Jura, ejura@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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