Carlisle confirms high grades at surface

    TORONTO, Oct. 23 /CNW Telbec/ - Carlisle Goldfields Limited (TSX: CGJ)
has received assay results from surface channel sampling at the MacLellan
Mine, Lynn Lake, Manitoba. The Company completed a stripping program over the
main MacLellan Zone this fall. The work program has served to improve the
understanding of the mineralization and the extent and controls on it. The
results have displayed excellent correlation with past sampling programs and
with the near surface drilling, thereby raising the confidence in the
interpretation for resource modeling. Carlisle believes that this information
will improve the quality in the interpretation of the forthcoming new
technical report (43-101).

    Details of significant assay intervals are as follows:

    Line                  from              To         Length          Assay
                            (m)             (m)            (m)          (g/t)

    10075E             5011.50         5012.52           1.02           7.06

    10070E             5025.60         5027.13           1.53           8.20

    10065E             5021.00         5023.30           2.17           6.40
                       5025.40         5027.44           2.04          17.77

    10060E             5021.50         5024.10           2.60           7.98
                       5027.80         5029.20           1.40           7.90

    10050E             5018.30         5020.50           2.20           7.75
                       5025.50         5026.50           1.00           8.54

    10040E             5002.50         5004.60           2.10          17.97
                       5020.00         5022.30           2.30           6.82
                       5026.20         5029.00           2.80          13.49
                       5033.30         5036.70           3.40           6.81

    10030E             4998.40         5001.00           2.60           4.41
                       5019.70         5022.65           2.95           7.92
                       5030.00         5031.90           1.90           5.20

    10020E             4997.30         4998.30           1.00          14.68
                       5005.60         5006.60           1.00           5.01
                       5027.90         5028.97           1.07           4.87
                       5030.90         5032.88           1.98           5.90
                       5023.00         5024.00           1.00           8.95

    10000E                 NSV

    9970E              5026.30         5027.30           1.00           5.21

    All Channel samples were saw cut from rock and contain no soil material.
Assaying was performed by TSL Laboratories, Saskatoon, Saskatchewan, "an ISO
9001:2000" accredited laboratory, for analysis. TSL protocols include fire
assay for Au and Ag with an ICP finish on a crushed and pulverized sub-sample.
The MDL and upper detection limits (UDL) for Au are 5 - 1000 ppb under this
protocol, and 0.2 - 50 ppb for Ag. Above the UDL a gravimetric method is used
for determination on high concentrations. Where high gold values are
encountered and "nugget effect" is suspected the samples are reprocessed using
a "pulp and metallics" procedure.
    A quality control program has been implemented to ensure best practices
in the sampling and analysis of the drill core. Certified control standards,
and coarse field blanks were inserted into the sample stream. A program of
analysis of duplicate samples will be undertaken. Mr. Stephen Mlot, P. Eng.,
the President of Carlisle is the qualified person for the Company.

    About Carlisle:

    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 is expecting to define
resources in the range of 800,000 to 1,200,000 ounces of Gold. The primary
target is the former producing MacLellan Gold Mine and the Company is working
towards a re-commencement of production at the earliest possible date.
    A Resource Estimate is expected to be completed as planned within the
next 30 days. Drilling has confirmed the presence of the MacLellan Mine
horizon east, west, and below the mine workings. Additional mineralization has
been found to the south of the mined areas.

    Certain statements contained herein constitute "forward looking
statements". These "forward looking statements" are based on current
expectations. The nature, timing and extent of the exploration programs may
materially change from current intentions for a number of reasons.
Additionally, "forward looking statements" look into the future and provide an
opinion as to the effect of certain events and trends on the business.
"Forward looking statements may include words such as 'plans," "intends,"
"potential," "interpretation," and similar expressions. These "forward looking
statements" including statements regarding the Company's beliefs in the
potential mineralization, are based on current expectations and entail various
risks and uncertainties. Actual results may materially differ from
expectations as more information regarding the property is gathered, or if
known and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate. The Company assumes no obligation
to update or revise any "forward looking statement," whether as a result of
new information, future events or any other reason.

For further information:

For further information: Stephen G. Mlot, President; Carl McGill,
Director, Corporate Development, (416) 368-0028, Fax: (416) 703-3695,,; Renmark Financial Communications
Inc.: Neil Murray-Lyon,; Jen Power,; Media: Eva Jura,,
(514) 939-3989, Fax: (514) 939-3717,

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