Carlisle's Updated Resource on the MacLellan Mine Project Triples Measured and Indicated Resources to 2.02 Million Gold Equivalent Ounces

Carlisle Goldfields Limited (TSX:CGJ) is a Canadian-based gold exploration and development company. The company is focused on the development of its wholly owned exploration assets in the Lynn Lake Greenstone Belt of Northern Manitoba. Covering approximately 20,000 hectares these projects include the former MacLellan Gold mine and two other former producing gold mines, as well as numerous other historically identified gold zones all within close distance to the Town of Lynn Lake. There have been approximately 433,000 ounces of gold and 1,308,000 ounces of silver produced from these historic assets between 1986 and 1999.

As a result of the company's successful drilling program in 2011 Carlisle tripled the MacLellan Project's Measured and Indicated resource estimate. The MacLellan's new 43-101 compliant resource now hosts a total resource estimate of approximately 2.2 million gold equivalent ounces. In addition, the MacLellan Project is currently undergoing a Preliminary Feasibility Study expected in the fourth quarter of 2012. For more information see the recent press release(s) dated March 13, 2012 and March 19, 2012 under news at the investor's button above or at www.sedar.com.

Carlisle is planning to drill approximately 60,000 meters in 2012 across the company's four major projects. This drilling will produce three additional new 43-101 compliant resource estimates at the Burnt Timber, Farley Lake, and Last Hope Projects.