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Significant Proven Assets: ~ 5 Million Ounces of Au in Manitoba

Message: Carlisle Completes Additional Land Acquisition and Files Optimized PEA
Carlisle Completes Additional Land Acquisition and Files Optimized PEA

Toronto, Ontario--(Newsfile Corp. - May 5, 2014) - Carlisle Goldfields Limited (TSX: CGJ) (OTCQX: CGJCF) ("Carlisle" or the "Company") is pleased to provide a corporate update on activities at the Lynn Lake Gold Camp which includes additional land acquisition by staking open ground along the Agassiz Shear Metallotect between the MacLellan Mine deposit and the Farley Lake Mine deposit.

The Company has staked approximately 6770 hectares of newly opened ground between the MacLellan Mine and Farley Lake Mine deposits along the Agassiz Shear Metallotect located northeast of the town of Lynn Lake. Carlisle’s current land holdings of 35304 hectares on highly prospective regional structures within the Lynn Lake greenstone belt represents a 45% increase since 2011 and is the dominant land position in the Lynn Lake Gold Camp.

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2702 – 401 BAY STREET
[email protected]

Nicholas Konkin
Director of Investor Communications
416-642-0869 ext. 3 or [email protected]

Abraham Drost, President & CEO
807-252-7800 or [email protected]

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Company's shares and other securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.

Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", including the establishment and estimate of resources that involve various known and unknown risks and uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, Carlisle expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of this press release.

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Source: Newsfile Corp. (May 5, 2014 - 8:00 AM EDT)

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