Castle Silver Annual General Meeting Results

COQUITLAM, BC, Feb. 10, 2017 CNW/ - Castle Silver Resources Inc. (TSX.V: CSR) (the "Company" or "Castle") announces that the Annual General Meeting was held on Thursday February 9, 2017 and is pleased to report that all resolutions were approved with over 99% of all votes in favour. A total of 33.3 % of eligible shares voted. The resolutions passed at the Meeting are listed below:

  1. The following individuals were re-elected Directors of the Company: Frank J. Basa, Jacques F. Monette, Dianne Tookenay, Robert Setter and Annemette Jorgensen.

  2. McGovern, Hurley, Cunningham, Chartered Accountants, were re-appointed as Company auditors.

  3. Adoption of the Company's 10% rolling share option plan was ratified and approved.

The Board of Directors appointed the following officers of the Company for the ensuing year:

Frank J. Basa:

President and Chief Executive Officer

Thomas P. Devlin:

Chief Financial Officer

Tina Whyte:

Corporate Secretary

 

The board of directors re-appointed the audit committee for the upcoming year as follows: Frank J. Basa, Chairman; Jacques F. Monette, independent member and Annemette Jorgensen, independent member.

During the last year the name change to Castle Silver Resources was completed, a new website was launched, a new Gold zone was discovered, a geophysical survey commenced in Q4 2016, and the Beaver and Violet Cobalt Silver properties were added. From work carried out in 2016, recent results from bench-scale metallurgical flotation and gravity test work press released January 31, 2017 showed silver and cobalt recoveries of 98.5 percent and 70.5 percent respectively produced an extremely high concentrate grade of 11,876 grams per tonne silver and 10.5 percent cobalt using a simple flotation process. The mineralized-material surface rock sample was a composite collected from the waste pile assaying 2,064 grams per tonne silver and 5.62 percent cobalt at the Beaver Mine.

About Castle Silver

Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture-listed junior natural resource company focusing on the exploration and development of former silver and cobalt mine properties in Northern Ontario including the Castle Silver Mine near Gowganda, Ontario and the Beaver and Violet mines near Cobalt, Ontario. Additional information on the Company's properties is available by visiting its website at www.castlesilverresources.com.

"Frank J. Basa"

Frank J. Basa P. Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE Castle Silver Resources Inc.

For further information: Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144; or Wayne Cheveldayoff, Investor Relations, waynecheveldayoff@gmail.com, 416-710-2410


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