Newcastle Minerals Ltd.

Newcastle Minerals Ltd.

March 31, 2011 09:36 ET

Drilling Resumes on Newcastle's Mollie River Property

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that First Lithium Resources Inc. will resume drilling on Newcastle's Mollie River Property located approximately four kilometres east of Trelawney Mining and Exploration Inc.'s Chester Gold Complex in northwestern Ontario. First Lithium has an option to earn up to a 75% interest in Newcastle's property.

First Lithium will continue drilling DDH MR-10-10, which was previously drilled to a depth of 194m. The final 9m interval of that core revealed elevated gold and copper levels (see news release March 2, 2011). Project geologist Mark Fedikow stated, "The association of gold mineralization in altered mafic to intermediate intrusions is strongly suggestive of the geologic setting of the Trelawney gold deposits." Drilling will commence today or tomorrow.

The depth to which First Lithium will extend the hole will be determined by visual examination of the core as it is extracted.

Newcastle Minerals Ltd. is a Canadian gold and base metal exploration company trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing its three key properties: its 120-hectare Carscallen Property in the West Timmins area of Ontario, its 11,100-hectare Pickle Lake Property in northwestern Ontario and its 6,600-hectare property – including the Mollie River Property – located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.'s Chester Project.


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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