Castle Peak Announces AGM Results

Vancouver, British Columbia--(Newsfile Corp. - December 1, 2020) - Castle Peak Mining Ltd. (TSXV: CAP) ("Castle Peak" or the "Company") is pleased to report that all matters placed before the shareholders at its Annual General Meeting held on November 30, 2020, were approved.

Number of DirectorsShareholders approved setting the number of directors at five.

Election of DirectorsAllan Green, Randal Gindi, Andreas Marangos, Michael Novak, and Iyad Jarbou were re-elected to the board of directors of the Company.

Appointment of AuditorsDavidson & Company LLP was reappointed as auditors of the Company at a remuneration to be fixed by the Directors.

Stock Option PlanThe Stock Option Plan of the Company was re-approved by the shareholders.

On behalf of the Board of Castle Peak Mining Ltd.:

"Iyad Jarbou" Chief Financial Officer Tel: 604.362.7685Email: iyadj@castlepeakmining.com

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

FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION

This release may contain statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.

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