Carlisle Goldfields Limited ("Carlisle" or the "Company") (TSX:CGJ)(OTCQX:CGJCF)
announces that Canadian Orebodies Inc. (TSX VENTURE:CO) ("Canadian Orebodies")
has completed its obligations with respect to the acquisition of a 10%
non-diluting interest in the Company's Farley Lake Mine Project (please see
press release dated November 13, 2013). In order to acquire the interest,
Canadian Orebodies was required to incur aggregate exploration expenditures of
$800,000 by December 31, 2013. 


Bruce Reid, President and CEO of Carlisle commented, "Management remains
encouraged by the strong results so far from the drilling program at Farley
Lake. We will work together diligently to capture the considerable exploration
potential at the project." 


The parties will enter into a joint venture agreement pursuant to which Carlisle
shall incur all further expenditures on the Project until it reaches commercial
production. After the commencement of commercial production, Canadian Orebodies
and Carlisle will be obligated to contribute funds to approved programs and
budgets of the joint venture in proportion to their respective participating
interests. Carlisle will be the initial manager of the joint venture and will
continue to be the manager so long as it holds a minimum 50% participating
interest in the joint venture.


At any time prior to April 30, 2016, Canadian Orebodies shall be entitled to
transfer the interest back to Carlisle (the "Put Right") in consideration for
the issuance to Canadian Orebodies of $800,000 in common shares of Carlisle
("Carlisle Shares") valued at the greater of $0.10 or the 20-day volume weighted
average trading price on the TSX at the time of exercise of the Put Right,
provided that the exercise of the Put Right does not result in Canadian
Orebodies holding 20% or more of all of the issued and outstanding Carlisle
Shares at the time of exercise. Further, at any time after December 31, 2014 and
prior to April 30, 2016, Carlisle shall have the right to require that Canadian
Orebodies transfer the interest back to Carlisle (the "Back-in Right") upon 15
days prior written notice to Canadian Orebodies, in consideration of issuing to
Canadian Orebodies $800,000 in common shares of Carlisle valued at the 20-day
volume weighted average trading price on the TSX at the time of exercise of the
Back-in Right, unless such number of shares is greater than 10% of the number of
Carlisle shares then outstanding or the price per share is less than the minimum
price permissible by the TSX. 


About Carlisle: Carlisle Goldfields Limited is a Canadian-based gold exploration
and Development Company focused on development of its Lynn Lake Gold Camp in
Lynn Lake, Manitoba, Canada. Carlisle now has five NI 43-101 compliant resource
estimates within its Lynn Lake Gold Camp, four of which form the basis for the
PEA (Farley Lake Mine Deposit, MacLellan Mine Deposit, Burnt Timber Mine
Deposit, and Linkwood Deposit). Further details including technical reports are
available on SEDAR (www.sedar.com) or www.carlislegold.com/resource-summary.php.



In December 2013, Carlisle released a positive PEA highlighting a Pre-tax NPV of
$625 million (using a 5% discount factor) and an IRR of 34.4%. (Please see press
release dated December 2, 2013 or www.carlislegold.com/pea.php.)


About Orebodies: Canadian Orebodies is a Canadian-based mineral exploration
company with a portfolio of properties in Nunavut, Ontario, and Manitoba.
Canadian Orebodies trades on the TSXV under the symbol "CO". For more
information please visit www.canadianorebodies.com.


This press release shall not constitute an offer to sell or solicitation of an
offer to buy the securities in any jurisdiction. The Company's shares and other
securities have not been and will not be registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States
absent an applicable exemption from the registration requirements.


Except for statements of historical fact contained herein, the information in
this press release may constitute "forward-looking information" within the
meaning of Canadian securities law. Other than statements of historical fact,
all statements are "forward-looking statements", including the establishment and
estimate of resources, that involve various known and unknown risks and
uncertainties and other factors. There can be no assurance that such statements
will prove accurate. Results and future events could differ materially from
those anticipated in such statements. Readers of this press release are
cautioned not to place undue reliance on these "forward-looking statements".
Except as otherwise required by applicable securities statutes or regulation,
Carlisle expressly disclaims any intent or obligation to update publicly
forward-looking information, whether as a result of new information, future
events or otherwise.


Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of
this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carlisle Goldfields Limited
Nicholas Konkin
Investor Relations
416-642-0869 ext. 353
nkonkin@buickgroup.com
www.carlislegold.com


Canadian Orebodies Inc.
Jamie Frawley
Investor Relations
416-742-5600
jfrawley@firstcanadiancapital.com
www.canadianorebodies.com