Castle Peak Completes Acquisition of Prospecting License

Vancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - Castle Peak Mining Ltd. (TSXV: CAP) ("Castle Peak" or the "Company") is pleased to announce that it has completed the previously announced acquisition of the Kunsu prospecting license in Ghana from Wononuo Investment Limited ("Wononuo"). Title to the prospecting license is held by Castle Sika Mining Ltd., a wholly owned Ghanaian subsidiary of the Company.

Allan Green, Chairman and CEO, said: "We are pleased to add the high potential Kunsu prospecting license to the Castle Peak portfolio, which allows us to proceed with some of the earlier exploration initiatives. The acquisition underlines our commitment to further explore for new gold opportunities in Ghana."

For further information, please contact:

"Iyad Jarbou"
Chief Financial Officer
Tel: 604.362.7685
Email: iyadj@castlepeakmining.com
Website: https://castlepeakmining.com/

FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION

Except for statements of historical fact, this news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws. This release may contain statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. The Company does not assume the obligation to update any forward-looking statement, except as required by law. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com.

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