Carlisle Goldfields closes private placement financing with Stone Asset Management

    TORONTO, Dec. 11 /CNW Telbec/ - Carlisle Goldfields Limited (TSX: CGJ)
(the "Company") is pleased to announce the closing of the private placement of
900,000 common shares of the Company issued on a "flow-through" basis (the
"Flow-Through Shares") at $0.28 per share to the Stone 2007-II Flow-Through
Limited Partnership ("Stone 2007-II FTLP"). This was completed in conjunction
with a private placement with the Mineralfields Group as outlined in our press
release of December 7, 2007. The Company intends to use the proceeds of the
offering to fund the further development and exploration of the Company's Lynn
Lake property.
    Stone Asset Management has performed all necessary due diligence in
relation to this transaction and we are pleased to have them on board as
    We are appreciative of the confidence placed in us by companies such as
Stone Asset Management, especially during current market conditions. We hope
support at this level will act as a benchmark in taking us to a level much
more indicative of our stage of development, said Mr. Mlot, President & CEO of
Carlisle Goldfields Limited.

    The Toronto Stock Exchange does not accept responsibility for the
    adequacy or accuracy of this news release.

    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.


    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, (416) 368-0028, Fax: (416) 703-3695,,; Renmark Financial Communications Inc.: Neil Murray-Lyon,; Jen Power,;
Media: Eva Jura,, (514) 939-3989, Fax: (514)

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