Greencastle Resources Ltd.

Greencastle Resources Ltd.

July 10, 2008 09:51 ET

Greencastle Adds to Manitoba Coal Exploration Applications

TORONTO, ONTARIO--(Marketwire - July 10, 2008) - Greencastle Resources Ltd. ("Greencastle," or the "Company,") (TSX VENTURE:VGN) reports that the Company has filed an additional application to the government of Manitoba for a coal exploration permit on the Manitoba / Saskatchewan border.

The new Greencastle permit application covers approximately 3,200 hectares on the Manitoba side of the Saskatchewan border. The permit area extends to the east from the initial permit application announced by the Company on June 19, 2008. The total permit area applied for is now 4,800 hectares and adjoins the eastern boundary of the Goldsource Mines Ltd. coal permit area.

The geological map of the Manitoba Geological Survey indicates the Greencastle permit application area to be underlain by the Swan River Formation of the same Cretaceous age as the Goldsource Mines Inc. coal discovery in Saskatchewan, described in the above referenced release.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company relies on litigation protection for forward looking statements.

No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Greencastle Resources Ltd.
    Anthony Roodenburg
    (416) 367-4571