Toronto, Ontario - April 19, 2007 - Carlisle Goldfields Limited (TSX: CGJ), (the "Company") - announces that the Board of Directors has, as recommended by the Compensation Committee, approved the grant of incentive stock options to three directors, and one officer of the Company to purchase up to 1,200,000 common shares in the capital stock of the Company at a price of $0.305 per share, pursuant to the shareholder approved Stock Option Plan (the Plan). The options are exercisable for a period of five (5) years from April 17, 2007. Under the Plan all Stock Options granted are subject to cancellation upon the optionee ceasing to be a director or officer of the Company.
Stephen Mlot, the President of the Company, and John Steele, the Chairman, were also offered up to 500,000 stock options each. Both elected to not accept any stock options at this time as they are adequately compensated in other ways, and that it is more appropriate to provide the incentive to the Independent Directors who derive no other compensation from the Company.
These are the first Stock Options granted and there are now a total of 1,200,000 outstanding, out of a total of 3,259,996 authorized under the Plan.
About Carlisle:
Carlisle Goldfields Limited, a Canadian based Gold Exploration and Development company, is the owner of three geographically diverse properties in Manitoba, Ontario and British Columbia. Carlisle's initial focus will be on its 20,000 hectare land position in the Lynn Lake Greenstone Belt of Manitoba where roughly 144,000 ounces of gold and 432,000 ounces of silver were produced between 1986 and 1989. Diamond drilling continues at the MacLellan Mine in Lynn Lake, Manitoba as the Company pursues its short term objective of drilling 10,000 metres and completing a Resource Estimate in Q3 2007.
For further information please contact:
Stephen G. Mlot, President
Carl McGill, Director, Corporate Development
Telephone: (416) 368-0028
Fax: (416) 703-3695
info@carlislegold.com
www.carlislegold.com
Renmark Financial Communications Inc.
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Michael Shore : mshore@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
