Castlebar Capital Corp. Provides Update Respecting Proposed Qualifying Transaction Castlebar Capital Corp. (TSXV: CBAR.P) ("Castlebar" or the "Company") is pleased to provide an update on its previously announced proposed transaction respecting the Southern Spectrum mineral property (the "Property") in British Columbia (the "Transaction") (see Castlebar's press releases dated December 11, 2020 and January 22, 2021). Castlebar previously announced that it had entered into a sale, assignment, assumption and amending agreement dated January 22, 2021 (the "Definitive Agreement") with 1162832 B.C. Ltd. ("1162832") and Christopher R. Paul & Michael A. Blady (collectively, the "Optionor"), pursuant to which Castlebar will assume all of 1162832's right, title and interest, as optionee, in and to a property option agreement (the "Option Agreement") dated January 10, 2019, as amended September 10, 2020, respecting the Property.