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Angelique de Maison Increases Funding Commitment to Casablanca Mining

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SAN DIEGO--(BUSINESS WIRE)--

CASABLANCA MINING LTD. (OTCQB:CUAU) announced today that Angelique de Maison has agreed to invest an additional $4.2 million in the Company through the purchase of common stock.

Juan Carlos Camus, CEO of Casablanca Mining and its Chilean subsidiary, Santa Teresa Minerals, said, “Ms. de Maison's investment has been critical to Casablanca's Chilean mining and exploration operations, acquisitions, and construction projects, along with the protection of our electro-mining intellectual property. We believe this additional funding commitment will provide Casablanca with sufficient capital for the remainder of 2011.”

Ms. de Maison said, “Casablanca Mining and Santa Teresa Minerals have continued to demonstrate strict operational controls and efficient use of the capital I have provided. The opportunity in gold, copper and copper sulfate is a long term secular play that addresses two of the top issues in the world today; financial stability, through the ongoing value of precious metals, and food/farming, through the livestock feed opportunities associated with copper sulfate.”

As previously announced, below are highlights of recent progress Casablanca Mining has made with Ms. de Maison's investments in the second and third quarters of 2011:

  • 43-101 Technical Reports Completed For Casuto Project and Free Gold Project
  • Completed the Purchase of 70% Interest in “New Gold Project,” consisting of Los Pinos 1-30 and Teresita 1-20
  • Copper Sulfate Plant Construction Progresses On Time and Within Budget
  • New Road and 15 Hole Drilling Project Completed at Anica Copper Mine
  • Electro-Mining Patent Granted in China

About Casablanca Mining, Ltd.:

Casablanca Mining (OTC: CUAU), through its wholly owned subsidiary Santa Teresa Minerals, S.A., engages in the acquisition, exploration, development, and operation of precious metal properties in South America. Its gold and copper mining operations are based near Santiago, Chile. Santa Teresa Minerals currently has, directly and indirectly through various equity interests, mining rights in a producing gold mine, “Free Gold,” and in exploration projects, the “Casuto Project,” consisting of Los Azules 1-3, Tauro 1-6, Los Chipi 1-16 and the “New Gold/Los Pinos Project,” consisting of Los Pinos 1-30 and Teresita 1-20. These projects include 80 different mining and mineral exploration claims including gold, copper and copper sulfate. Santa Teresa Minerals also owns a 60% equity position of Sociedad Sulfatos Chile S.A., a copper sulfate production project that owns the Anica Copper Mines, and a 60% equity position in a company with the rights to a revolutionary mining technology that extracts gold, silver and copper from raw mining materials using a proprietary and patented electrolysis method of electro-mining.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results and estimates that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results or estimates expressed or implied by this press release. Such risk factors include, among others: whether Casablanca Mining can successfully execute its operating plan, including mining and exploration projects; results of exploration, project development and capital costs of mineral properties; volatility of market prices for gold, copper and copper sulfate; Casablanca Mining's ability to integrate acquired companies and technology; Casablanca Mining's ability to retain key employees; general market conditions; and other factors discussed under “Risk Factors” in its annual report on Form 10-K for the fiscal year ended December 31, 2010. Casablanca Mining does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Casablanca Mining, Ltd.
Zirk Engelbrecht, President
619-717-8047
zirk@casablancamining.com

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