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Castle Mountain Mining Company Limited (TSX VENTURE:CMM) (the "Company") today
announced that it has entered into an agreement with a syndicate of
underwriters, led by Edgecrest Capital Corporation along with Canaccord Genuity
Corp., MGI Securities Inc., and Haywood Securities Inc. who have agreed to
purchase, on a "bought deal" basis 7,700,000 units of the Company (each, a
"Unit") at a purchase price of $0.65 per Unit. Each Unit consists of one common
share (a "Common Share") and one half of one Common Share purchase warrant (a
"Warrant") of the Company. Each Warrant will expire twenty four (24) months from
the date of issue (the "Warrant Expiry Date") and will entitle the holder
thereof to purchase one Common Share (a "Warrant Share") at a price of $1.00 per
Warrant Share. 


In addition, the Company has also granted the underwriters an over-allotment
option to purchase up to a further 15% of the number of Units sold. This
over-allotment option is exercisable in whole or in part, at the sole discretion
of the underwriters, at any time until and including 30 days following the
closing of the offering. 


This bought deal offering is expected to close on or about June 30, 2014 and
provide the Company with gross proceeds of approximately $5.0 million (or $5.8
million if the over-allotment option is exercised in full). The net proceeds of
the Offering will be used for Phase 2 drilling at the Castle Mountain Property
and general corporate purposes. The offering is subject to certain customary
conditions, including approval of the Toronto Stock Exchange Venture (TSX-V). 


The Units will be offered by way of a short form prospectus in provinces of
Canada, other than the Province of Quebec, and may also be offered by way of
private placement in the United States or other jurisdictions outside of Canada.



This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities of the Company, nor shall there be any offer or
sale of the securities of the Company in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The offered Units have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


About Castle Mountain Mining Company 

Subject to certain obligations, Castle Mountain Mining has 100% of the right,
title and beneficial interest in and to the Castle Mountain Venture, a
California general partnership, which owns the Castle Mountain property in San
Bernardino County, California. The Castle Mountain heap leach gold mine produced
over one million ounces of gold from 1992 to 2001, when mining was suspended due
to low gold prices. 


The Castle Mountain Venture land holdings (7,458 acres total) include patented
claims (1,298 acres), and unpatented claims (6,160 acres). On December 11, 2013,
the Company filed the Technical Report for its maiden NI 43-101 mineral resource
estimate, that is available both on SEDAR at www.sedar.com and on the Company's
website at www.castlemountainmining.com. 


Castle Mountain Mining Company Limited, through its wholly owned subsidiaries
including Castle Mountain Venture, is focused on the exploration and, if
warranted, development of deposits in San Bernardino County, California. The
principal gold mineralization identified to date within the Project are below
and surrounding the historically mined pits on the property including the Oro
Belle-Hart Tunnel, Jumbo, and Lesley Anne-Jumbo South Pits, as well as in the
South Domes area.


Forward Looking Information 

Statements contained in this press release that are not historical facts are
"forward-looking information" or "forward-looking statements" (collectively,
"Forward-Looking Information") within the meaning of applicable Canadian
securities legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward Looking Information includes, but is not limited to,
disclosure regarding the economics and project parameters presented in the PEA,
including, without limitation, IRR, all-in sustaining costs, NPV and other costs
and economic information, possible events, conditions or financial performance
that is based on assumptions about future economic conditions and courses of
action; the timing and costs of future development and exploration activities on
the Company's properties; success of development and exploration activities;
permitting time lines and requirements; time lines for technical reports and
further studies, including a feasibility study; planned exploration and
development of properties and the results thereof; and planned expenditures and
budgets and the execution thereof. In certain cases, Forward-Looking Information
can be identified by the use of words and phrases such as "plans", "expects" or
"does not expect", "is expected", budget", "scheduled", "suggest", "optimize",
"estimates", "forecasts", "intends", "anticipates", "potential" or "does not
anticipate", believes", "anomalous" or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". In making the
forward-looking statements in this press release, the Company has applied
several material assumptions, including, but not limited to, the assumptions
inherent to the PEA, that the current development, exploration and other
objectives concerning the Castle Mountain Project can be achieved and that its
other corporate activities will proceed as expected; that the current price and
demand for gold will be sustained or will improve; that general business and
economic conditions will not change in a materially adverse manner and that all
necessary governmental approvals for the planned exploration on the Castle
Mountain Project will be obtained in a timely manner and on acceptable terms;
the continuity of the price of gold and other metals, economic and political
conditions and operations. Forward-Looking Information involves known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by the
Forward-Looking Information. 

Such risks and other factors include, among others, risks inherent to the
preliminary nature of the PEA, risks related to permitting, water availability,
operating cost overruns, and capital cost overruns; risks related to a sustained
and significant reduction in gold prices; risks that the metallurgical
performance of different process feeds are not as anticipated; risks related to
the availability of financing on commercially reasonable terms and the expected
use of proceeds; operations and contractual obligations; changes in development
and exploration programs based upon results of exploration; availability of
third party contractors; availability of equipment; failure of equipment to
operate as anticipated; accidents, effects of weather and other natural
phenomena and other risks associated with the mineral exploration industry;
environmental risks, including environmental matters under U.S. federal and
California rules and regulations; impact of environmental remediation
requirements and the terms of existing and potential consent decrees on the
Company's planned development and exploration on the Castle Mountain Project;
certainty of mineral title; community relations; delays in obtaining
governmental approvals or financing; the Company's dependence on one mineral
project; the nature of mineral development, exploration and mining and the
uncertain commercial viability of certain mineral deposits; the Company's lack
of operating revenues; governmental regulations and the ability to obtain
necessary licenses and permits; risks related to mineral properties being
subject to prior unregistered agreements, transfers or claims and other defects
in title; currency fluctuations; changes in environmental laws and regulations
and changes in the application of standards pursuant to existing laws and
regulations which may increase costs of doing business and restrict operations;
risks related to dependence on key personnel; and estimates used in financial
statements proving to be incorrect; as well as those factors discussed in the
Company's public disclosure record and annual information form for the year
ended December 31, 2013 which is available on SEDAR at www.sedar.com. 

Although the Company has attempted to identify important factors that could
affect the Company and may cause actual actions, events or results to differ
materially from those described in Forward-Looking Information, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that Forward-Looking
Information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking Information. Except
as required by law, the Company does not assume any obligation to release
publicly any revisions to Forward-Looking Information contained in this press
release to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Castle Mountain Mining Company
Gordon McCreary
President and CEO
(416) 572-0152
gmccreary@castlemountainmining.com


Castle Mountain Mining Company
Fraser Buchan
VP Corporate Development
(416) 640-1933
fbuchan@83yonge.com
www.castlemountainmining.com

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