Castlebar Capital Corp. Provides Clarification of Technical Disclosure

Vancouver, British Columbia--(Newsfile Corp. - October 7, 2021) - Castlebar Capital Corp. (TSXV: CBAR.P) ("Castlebar" or the "Company") announces that, as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its disclosure.

On September 17, 2021, the Company filed a technical report (the "Technical Report") titled "NI 43-101 Technical Report on the Southern Spectrum Property" having an effective date of February 16, 2021, as revised April 16, 2021. The Company advises that the Technical Report is contrary to National Instrument 43-101 - Standards of Disclosure for Mineral Projects as it was not prepared by a "qualified person," and therefore the Technical Report should not be relied upon until a new technical report is filed by the Company.

About Castlebar

Castlebar is a capital pool company in accordance with Exchange Policy 2.4 and its principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

For additional information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company as follows: Lucas Birdsall, CEO, at (778) 549-6714 or lucasbirdsall@gmail.com.

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This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98954