Castillian's share price down 23% following this news release.

Castillian Announces Proposed Share Consolidation

http://www.marketwatch.com/story/castillian-announces-proposed-share-consolidation-2012-03-12-71330

TORONTO, ONTARIO--(Marketwire - March 12, 2012) - Castillian Resources Corp. ("Castillian" or the "Company") (TSX VENTURE:CT) announces that a consolidation of its common shares will be considered by its shareholders at the upcoming annual and special meeting of shareholders scheduled to be held on May 9, 2012.

Castillian currently has 332,059,287 shares outstanding and proposes to consolidate its common shares such that one new common share would be issued for every five common shares outstanding on the effective date of the consolidation, or such lower number of common shares as may be determined by the Board of Directors of Castillian and as may be required to obtain approval of the consolidation from the TSX Venture Exchange.

Dr. Bill Pearson, P.Geo., President & CEO of Castillian, stated: "The principal reasons for proposing the share consolidation include broadening investor appeal in Castillian and creating more interest from the research analyst community. In addition, some of the Company's largest shareholders have suggested that Castillian consider a share consolidation to improve the capital structure of the Company."

Following a share consolidation on a five for one basis, Castillian would have approximately 66,411,857 common shares outstanding, post-consolidation. The change in the number of issued and outstanding common shares that would result from the share consolidation would not materially affect any shareholder's percentage ownership in Castillian, although such ownership would be represented by a smaller number of common shares.

The proposed share consolidation is subject to the approval, by special resolution, of the shareholders of Castillian and to the approval of the TSX Venture Exchange.

ABOUT CASTILLIAN

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, which has 740,000 ounces of NI 43-101 compliant inferred mineral resources in addition to 290,000 ounces of indicated mineral resources. Castillian has outlined an extensive new Gold-in-Soil anomaly trend on its Canadian Creek property in the Yukon that is adjacent to Kaminak's Sugar Gold-in-Soil trend.