CSR Closes Non-Brokered Private Placement

CSR Closes Non-Brokered Private Placement

COQUITLAM, BC

,

July 14, 2017

/CNW/ - Castle Silver Resources Inc. (TSX.V: CSR, OTC: TAKRF,

FRANKFURT

: 4T9B) (the "Company" or "CSR"), is pleased to

announce that it has closed a non-brokered private placement with strategic investors, raising gross proceeds of

$882,500

. The Company issued 4,412,500 units

at a price of

$0.20

per unit.

Frank J. Basa

, CSR President and CEO, commented: "Since March we have completed nearly

$2.6 million

in strictly hard dollar financings. We are now

extremely well positioned to deliver further shareholder value as we focus on successful implementation of various initiatives related to a robust cobalt market with

continued powerful dynamics in its favor in the year ahead.

"With action on multiple fronts, we look forward to providing investors with strong news flow throughout the summer as we build on a leadership role in the northern

Ontario Cobalt-Silver Camp. Drilling at the Castle Property is proceeding extremely well and we'll be updating shareholders shortly."

Financing Details

Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share

of the Company at an exercise price of

$0.30

per share for a period of two years from closing, subject to TSX Venture Exchange ("Exchange") approval.

All securities issued in connection with the private placement are subject to a four-month and a day hold period expiring

November 15, 2017

, in accordance with

applicable securities laws.

Proceeds of the private placement will be used for ongoing programs at the Castle and Beaver properties, past producing silver-cobalt mines, and for general

working capital purposes.

About Castle Silver Resources Inc.

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

and the Beaver and Violet mines near

Cobalt. 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

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.

SOURCE

Castle Silver Resources Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2017/14/c1612.html

%SEDAR: 00022378E

For further information:

Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144, or Wayne Cheveldayoff, Investor Relations,

[email protected], 416-710-2410

CO: Castle Silver Resources Inc.

CNW 19:17e 14-JUL-17