StoneCap Securities Initiates Coverage on Castle Mountain Mining with an Outperform Recommendation - Video Research Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - October 7, 2013) - Investment firm StoneCap Securities initiates coverage on Castle Mountain Mining (TSXV: CMM). Analyst Ali Khan gives the company an outperform rating and a 12-month target price of $1.05, which would give investors a projected return of 184% from the $0.37 price at the time the report was issued.

InvestmentPitch.com has produced a "video research alert" about Castle Mountain based on the StoneCap report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Castle" in the search box.

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Castle Mountain's sole flagship asset is the Castle Mountain Project located in San Bernardino County, California. It is a past producing open pit, heap leach operation, which operated for a decade and produced in excess of 1.2 million ounces of gold and 400,000 ounces of silver. Mining operations came to an end in 2001, due to persistent low gold prices with residual gold on the pads leaching for another two years.

The company historically produced an average of 115,000 ounces of gold per annum at a cash cost of approximately $233 per ounce. In 2002, a technical review conducted by AMEC assessed that a potential resource of 1.23 million ounces of gold grading 1.37 grams per tonne remained at the mine.

Castle Mountain recently completed a 30-hole exploration drill program with assay results showing encouraging results, with average intercept lengths of 28 metres grading 0.92 grams per tonne gold. The company has mining permits in place, which were recently extended and are valid until the end of 2025. These permits allow Castle Mountain to quickly join the ranks of a developer with a clear path towards production.

Analyst Ali Khan stated, "We believe that Castle Mountain is an attractive gold exploration due to the historic resource base in place as well as decade long production history and mining permits. We envision the project has the potential to produce an average of approximately 97,000 ounces per annum at mine level cash costs of $613 per ounce."

Robert Buchan, the Chairman of the company, recently closed a private placement, acquiring 1 million units at $0.35 per unit. The company is trading at $0.40, and with 54 million shares outstanding, is capitalized at $21.6 million.

For more information, please visit the company's website, www.CastleMountainMining.com or contact Gordon McCreary, President & CEO at 416-572-0152 or email gmccreary@CastleMountainMining.com.

For more information about StoneCap Securities or to obtain additional research, contact them at www.StoneCapSecurities.com

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