Stratabound's Elmtree Gold Property Moves Towards Preliminary Economic
Assessment

    
    SB: TSX Venture Exchange Issued:                       54,713,168 shares
    

CALGARY, Oct. 27 /CNW/ - Castle Resources Inc. has today announced highlights of drill results on Stratabound's 100%-owned Elmtree Gold project. Castle can acquire a 60% interest in the property by:

    
    -  Spending $2,500,000 on drilling and exploration before June 1, 2012,
       including a minimum of $750,000 before June 1, 2010, and an additional
       $750,000 before June 1, 2011

    -  Paying Stratabound $100,000 and 200,000 shares of Castle upon signing
       of the agreement (received)

    -  Making additional payments of $50,000 to Stratabound on June 1, 2010
       and June 1, 2011

    Castle can acquire another 10% by paying Stratabound $1,000,000 within 90
days of earning the initial 60%.

    The verbatim text of Castle's press release follows:

    "Castle Resources Announces 29 Meters of 2.43 g/t Gold at Surface from
    ----------------------------------------------------------------------
                    Elmtree Gold Project in New Brunswick
                    -------------------------------------

    -  Moving Elmtree gold project toward Preliminary Economic Assessment

    Toronto, Ontario, October 27, 2009: Castle Resources Inc. (TSX.V: CRI)
("Castle" or the "Company") is pleased to announce drill results from its
Phase I (3,135 metre) diamond drill program at the Elmtree Gold Project near
Bathurst, New Brunswick. The company has recently completed its Phase II
(1,986 metre) drill program and is awaiting results.

    Drill Highlights at the West Gabbro Zone Include:

    -  29 metres of 2.43 g/t Au, incl. 20 metres of 3.19 g/t Au
    -  18.5 metres of 1.27 g/t Au, incl. 3 metres of 4.58 g/t Au
    

Phase I drilling results have successfully delineated the West Gabbro Zone and has confirmed mineralization intersected at depth under the main core of the West Gabbro Zone resource. Drilling to the west found that the West Gabbro Zone narrows and drilling to the east confirms that there is no fault-offset extension of the West Gabbro Zone.

"The drill program was designed not only to test along strike and down dip in the West Gabbro Zone, but to gain a better understanding of known mineralization and we have successfully achieved these goals," said Mr. Stephen Shefsky, President & CEO of Castle Resources Inc. "Drilling at the West Gabbro Zone has more clearly defined the shape of the gold deposit and we are now in the process of advancing the deposit towards a Preliminary Economic Assessment."

The Company began drilling in early August and finished the Phase I program in September. A total of 3,135 metres were drilled in 16 holes and 732 samples were sent for analyses and all analyses have been received. Two of the 16 holes were designed to replicate older Lacana drilling results as recommended by Mercator Geological Services in their NI 43-101 compliant technical report dated February 12, 2008.

    
    Highlights of drilling results

    -------------------------------------------------------------------------
                             downhole
    Hole       From     to  thickness  g/t Au             Comments
    -------------------------------------------------------------------------
    ELM09-52   17.5     19        1.5    1.70   includes 115g g/t Ag,
                                                1.88% Zn, 1.96% Pb
    -------------------------------------------------------------------------
    ELM09-52  126.5  128.5        1.5    3.52
    -------------------------------------------------------------------------
    ELM09-52  175.5  177.5          2    1.30
    -------------------------------------------------------------------------
    ELM09-52    188  191.5        3.5    1.05
    -------------------------------------------------------------------------
    ELM09-54     29     58         29    2.43   replicated Lacana hole
                                                ME85-001 includes a higher
                                                grade section of 3.19 g/t Au
                                                across 20 m
                                                (downhole thickness)
    -------------------------------------------------------------------------
    ELM09-56   81.5   83.5          2    1.74
    -------------------------------------------------------------------------
    ELM09-57    174    176          2    1.25
    -------------------------------------------------------------------------
    ELM09-58  237.5    256       18.5    1.27   includes a higher grade
                                                section of 4.58g/t Au
                                                across 3 m
                                                (downhole thickness)
    -------------------------------------------------------------------------
    ELM09-61     25   30.5        5.5    1.58   replicated Lacana hole
                                                ME86-022
    -------------------------------------------------------------------------
    ELM09-66    209    211          2    1.15
    -------------------------------------------------------------------------
    ELM09-67    233    235          2    1.60
    -------------------------------------------------------------------------
    

The Elmtree Gold Property (85 claims, 1,375 hectares) hosts at least three gold-bearing zones, the higher grade West Gabbro Zone, original Discovery Zone and the larger tonnage, lower grade South Gold Zone. In 2008, a NI 43-101 compliant resource estimate reported 525,000 indicated tonnes in the West Gabbro Zone grading 2.45 g/t gold; 1,556,000 inferred tonnes in the West Gabbro Zone grading 2.01 g/t gold; 2,367,000 indicated tones in the South Gold Zone grading 0.74 g/t gold; 583,000 tonnes in the Discovery Zone grading 1.15 g/t gold only, as well as 117,000 inferred tonnes in the Discovery Zone grading 1.77 g/t gold, 44.36 g/t silver, 0.78% lead and 2.17% zinc.

In addition, the Phase II program at the Elmtree Gold Project has recently been completed. Ten holes were drilled (1,986 metres) testing the South Gold Zone & Discovery Zone at depth and infilling previously unexplored areas. The goal of this Phase II program is to further define mineralization and test the relationship between the South Gold Zone and Discovery Zone. Assays are pending and results are expected in November.

Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work discussed as defined under National Instrument 43-101 and has reviewed this press release."

Stratabound is a Canadian natural resource company exploring and developing 100%-owned gold and base metal properties in eastern Canada. It is currently focused on building a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

Certain information regarding the Company contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. The Company is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks and the ability of the Company to raise necessary funds for exploration. The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE Stratabound Minerals Corp.

For further information: For further information: Stan Stricker, P. Geol, President, (403) 258-3630, info@stratabound.com, www.stratabound.com

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Stratabound Minerals Corp.

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