Mr. Abraham Drost reports

CARLISLE ANNOUNCES HIGH GRADE EXPLORATION DRILL RESULTS OUTSIDE THE FEASIBILITY STUDY AREA AT LYNN LAKE

Carlisle Goldfields Ltd. has released assay results from multiple horizons in the first five holes on its 2015 special exploration drill program outside the feasibility study area on Lynn Lake joint venture (LLJV) ground at Lynn Lake, Man. Drill hole DV15-04 intersected 1.63 grams per tonne gold over 10.6 metres between 35.6 m to 46.2 m and 5.63 g/t Au over 5.6 m between 150.8 to 156.4 m downhole, including 24.49 g/t Au and 59.0 g/t silver over 0.69 m.

Carlisle's partner, AuRico Gold, has a 25-per-cent interest in the LLJV and has the right to increase its interest to 51 per cent by spending $20-million on the advancement of a feasibility study by Nov. 10, 2017. AuRico may increase its interest in the LLJV to a maximum of 60 per cent by delivering a compliant feasibility study within the same period.

The partners are jointly financing a $4-million special exploration program outside the feasibility study area in calendar 2015. Carlisle is the operator of special exploration on the balance of the 35,000-hectare LLJV lands. An internal GIS database compilation of historical drilling and sampling results is a useful guide to further exploration work in the area. Two historic drill holes in the Maynard Lake area reported an intersection of 0.93 g/t Au over 13.2 m. These results are historical in nature, have no core available for resampling, are of uncertain location and should not be relied upon.

Carlisle's president and chief executive officer, Abraham Drost, commented that: "Assays from the first five holes in the 2015 special exploration drill program have highlighted the potential for high-grade shoots that may exist to the west of the Burnt Timber and Linkwood deposits along the Johnson shear and related splay structures. It is our hope that the Burnt Timber and Linkwood, and possibly other gold deposits identified in this area, will ultimately be subjected to a feasibility study to assess future production potential."

      SPECIAL EXPLORATION RESULTS FROM THE DUNVEGAN AREA  
 
Hole             From       To   Drill interval      Au grade
                   (m)      (m)              (m)         (g/t)

DV15-01        172.00   173.33             1.33          0.92
DV15-02        199.40   214.26            14.86          0.41
DV15-03        209.00   220.00            11.00          0.71
DV15-04         35.60    46.20            10.60          1.64
including      150.80   156.40             5.60          5.63
including      154.80   155.49             0.69         24.49
DV15-05        107.46   112.00             4.54          5.04
including      109.81   110.34             0.53         24.13

Quality assurance/quality control

Carlisle's exploration programs are carried out under the supervision of Peter Karelse, PGeo, vice-president of exploration, a qualified person as defined by National Instrument 43-101, who reviewed and approved the technical content of this press release.

Samples were transported directly in secure containers from the Carlisle Goldfields site in Lynn Lake, Man., to the TSL Laboratories in Saskatoon, Sask. TSL, which is an accredited ISO/IEC 17025 lab, assayed the samples using standard fire assay methods with a gravimetric finish. Certified standards are placed in the sample stream at a rate of one standard per 20 samples. Certified blanks are placed in the sample stream at a rate of one blank every 40 samples. One lab reject duplicate per 30 samples is submitted to an umpire lab for assay verification. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used.

Special exploration program on LLJV lands

Carlisle previously announced the commencement of a 3,500-metre drill program in the Dunvegan area along strike to the west of the Linkwood and Burnt Timber deposits on the Johnson shear structure within the Lynn Lake greenstone belt. The Burnt timber deposit has a previously reported (Dec. 2, 2013) inferred open pit-constrained mineral resource of 23.4 million tonnes at an average grade of 1.04 g/t gold and the Linkwood deposit has an inferred open pit-constrained mineral resource of 21.0 million tonnes at an average grade of 1.16 g/t gold.

The LLJV has conducted a high-resolution magnetic and electromagnetic airborne geophysical survey over the entire property and is currently conducting an induced polarization ground survey to assist with drill target identification. Structural analysis of the airborne geophysical data has been completed by SRK Mining Consultants. Drill targets have been selected through a ranking system evaluating favourable structural and lithological targets identified in the new airborne and ground geophysics coincident with historical gold occurrences in the belt.

Two geological/prospecting field crews will also be on the LLJV lands this summer evaluating a variety of historical gold occurrences for future drill testing.

We seek Safe Harbor.