Newcastle Minerals Ltd.

Newcastle Minerals Ltd.

January 15, 2010 08:52 ET

Newcastle Options Additional Pickle Lake Properties

VICTORIA, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2010) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has, subject to regulatory acceptance, negotiated an option to purchase a 100% interest in five mineral claims covering approximately 1,960 acres in Ontario's Dona Lake Township.

The property is located in the Pickle Lake Greenstone Belt, part of the prolific Uchi Geological Subprovince having historically produced over 30 million ounces of gold. The claims are adjacent to PC Gold's (TSX:PKL) Pickle Crow property and are on strike to the south-west.

This newly acquired property adjoins Newcastle's previously-optioned claims announced January 12. Newcastle's President, Michael Romanik, stated "We are pleased to have added to our land position in the Pickle Lake area. PC Gold Inc. announced on January 7 that they plan to add a third drilling rig to their work program, so we expect to see steady news flow from the area over the next few months."

To exercise its option and acquire a 100% interest in the property, Newcastle must pay the optionor, Mr. Perry English, a total of $105,000 and issue a total of 250,000 shares in stages over four years and grant the optionor a 2% net smelter returns royalty. Newcastle may repurchase one-half of the net smelter returns royalty for $1,000,000.


Signed "Michael Romanik"

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.

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