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Message: Castillian Announces Increase to Private Placement Financing


TORONTO, ONTARIO--(Marketwire - Dec. 24, 2010) -


Castillian Resources Corporation ("Castillian" or the "Company") (TSX VENTURE:CT) is pleased to announce that due to investor demand it intends to increase the size of its previously announced non-brokered private placement financing (See press release dated December 3, 2010). The Company intends to issue up to 30,000,000 flow-through shares (the "Flow-Through Shares") and 31,333,333 units (the "Units") of the Company at a price of $0.10 per Flow-Through Share and $0.075 per Unit for gross proceeds of $5,350,000 (the "Offering"). Each Unit will consist of one common share of the Company and one-half of one share purchase warrant entitling the holder thereof to acquire a common share of the Company at an exercise price of $0.10 for a period of 24 months following completion of the Offering.

The Company may pay finder's fees in connection with the Offering.

The closing of the Offering is expected to occur on or about December 30, 2010 and is subject to the receipt of regulatory approval, including the conditional approval of the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to statutory resale restrictions.

The proceeds of the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2010. The funds will be used to explore and develop the Hope Brook Gold Project located on the southwest coast of Newfoundland.

About Castillian Resources

Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" which has gold and base metal properties in Canada and South America. Castillian's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland where it is carrying out a 5,000 metre diamond drill program.

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