Carlisle Comments on Recent Trading Activity
Toronto, ON - October 3, 2007 - Carlisle Goldfields Limited (TSX: CGJ)
Recent trading involving shares of Carlisle Goldfields Limited have shown large upswings in volume and downward pressure on its price; a price which management feels severely understates the value of the assets of the company.
Glencairn Gold Corporation, a holder of more than 10% of the Company announced on September 5, 2007 its intention to sell 4 million shares of its holdings. At the close of business on September 26, 2007 this selling was completed. In discussions with Glencairn, Mr. Peter Tagliamonte, President and CEO stated "We regret needing to sell this portion of our company's position in Carlisle at this time." He further stated that this action does not reflect negatively on growth opportunities within Carlisle. All stock was sold through the facilities of the TSX to a diverse group of investors. Further information of Glencairn can be obtained from their website www.glencairngold.com and at www.sedar.com.
In July, 2007 Carlisle completed a 12,000 metre drilling program at the MacLellan Mine Property, near Lynn Lake, Manitoba, This property produced 142,000 ounces of gold and 432,000 ounces of silver from 1986 to 1989. The primary purpose of the program was to confirm and expand the "historic geological reserves", stated to be in the order of 1,076,000 tonnes grading 6.51 grams Au per tonne, calculated at the time the mine closed. These resources are presently historical in nature, not considered to be current and not defined as required by NI 43-101. Results from the drilling program are being compiled in an updated resource estimate, which will be considered current under NI 43-101. This report is expected to be available in the next 30 days.
Carlisle owns 100% of a diverse group of mining leases and claims in the Lynn Lake Greenstone Belt of Northern Manitoba, covering approximately 20,000 hectares. Included in the land package are the former producing BT and Farley Lake open pit mines as well as the underground MacLellan Mine. This large land holding contains a significant number of other known Gold occurrences which require further exploration. Additional details about Carlisle and its projects can be viewed on the Company's website at www.carlislegold.com and at www.sedar.com.
For further information please contact:
Stephen G. Mlot, President
Carl McGill, Director, Corporate Development
Telephone: (416) 368-0028
Fax: (416) 703-3695
RENMARK FINANCIAL COMMUNICATIONS INC.
NEIL MURRAY-LYON : NMURRAYLYON@RENMARKFINANCIAL.COM
JEN POWER : JPOWER@RENMARKFINANCIAL.COM
MEDIA - EVA JURA : EJURA@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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Carlisle Goldfields Limited
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CODE : CGJ.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Carlisle is a gold exploration company based in Canada. Carlisle holds various exploration projects in Canada. Its main exploration properties are LYNN LAKE GABBROS and MCLELLAN in Canada. Carlisle is listed in Canada and in United States of America. Its market capitalisation is CA$ 29.6 millions as of today (US$ 20.9 millions, € 19.2 millions). Its stock quote reached its lowest recent point on October 31, 2008 at CA$ 0.01, and its highest recent level on July 29, 2011 at CA$ 2.34. Carlisle has 54 830 000 shares outstanding. |