Newcastle Minerals Ltd.
TSX VENTURE : NCM

Newcastle Minerals Ltd.

March 03, 2010 08:32 ET

Newcastle Begins Historical Compilation of Its Pickle Lake Property

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has engaged MPH Consulting Limited of Toronto to undertake a compilation of the results of past exploration on Newcastle's 18,200-acre Pickle Lake Property located in Ontario's Connell, Dona Lake and Ponsford Townships.

The Pickle Lake Property is located in the Pickle Lake Greenstone Belt where over 2.2 million ounces of gold were extracted from three mines between 1934 and 1996. The property adjoins the past-producing Central Patricia Mine property (650,000 ounces of gold) and extends to the past-producing Dona Lake Mine property (225,000 ounces of gold). It also adjoins PC Gold's (TSX:PKL) Pickle Crow property and is on strike to the southwest and northeast. Newcastle's Pickle Lake Property hosts several gold showings identified by previous exploration. MPH Consulting's analysis is intended to identify and make exploration recommendations for the highest-probability targets on the property.

Newcastle President Michael Romanik stated, "PC Gold reported recently that they hope to prove a multi-million ounce gold deposit around and below their Pickle Crow gold mine. Newcastle recognized the potential of the Pickle Lake area months ago, when we first started accumulating our land position. We expect our Pickle Lake properties will add tremendous value for our shareholders as the work programs progress."

MPH Consulting Limited has over 40 years of experience in the exploration and mining industry. MPH completed a technical report on the Pickle Crow gold property on behalf of PC Gold in January 2008.

ON BEHALF OF THE BOARD

Michael Romanik, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Newcastle Minerals Ltd.
    Michael Romanik
    President
    Direct line: (204) 724-0613