Castle Silver Announces Shares for Debt

Castle Silver Resources Inc. 3028 Quadra Court Coquitlam, BC, V3B 5X6

CASTLE SILVER ANNOUNCES SHARES FOR DEBT

February 15, 2017 – Castle Silver Resources Inc. (TSX.V: CSR) (the “Company” or “Castle”) announces that it has agreed to settle its debt obligations with certain creditors of the Company in the amount of $300,000 through the issuance of 2,000,000 common shares of the Company at a deemed price of $0.15 per common share. The shares issued pursuant to the debt settlement transaction will be subject to a four month and one day hold period. The shares for debt transaction remains subject to TSX Venture Exchange approval.

About Castle Silver

Castle Silver Resources Inc. (formerly Takara Resources Inc.) is a TSX Venture‐listed junior natural resource company focusing on the exploration and development of former silver and cobalt mine properties in Northern Ontario including the Castle Silver Mine near Gowganda, Ontario and the Beaver and Violet mines near Cobalt, Ontario. Additional information on the Company’s properties is available by visiting its website at www.castlesilverresources.com.

“Frank J. Basa”

Frank J. Basa P. Eng.

President and Chief Executive Officer

For further information, contact:

Frank J. Basa, P. Eng., President and CEO at 1‐819‐797‐4144, or Wayne Cheveldayoff, Investor Relations, [email protected], 416‐710‐2410

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward‐looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward‐ looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.