Greencastle Resources Ltd.
TSX VENTURE : VGN

Greencastle Resources Ltd.

November 29, 2010 10:37 ET

Greencastle Hires Ubika for Investor Relations

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2010) - Greencastle Resources Ltd. ("Greencastle" or the "Company")(TSX VENTURE:VGN) has engaged Ubika Corporation as a consultant to provide capital market exposure services. Ubika's engagement commences as of November 29, 2010, and will extend for a six month term. Thereafter, the engagement will be subject to renewals at the option of both parties.

In consideration for Ubika's services, Greencastle will pay a monthly fee of $5,000 and will, subject to TSX Venture Exchange approval, grant to Ubika options to acquire 50,000 common shares of the company at an exercise price of 30 cents per share expiring November 25, 2012.

Caution Concerning Forward-Looking Information

This news release includes certain "forward looking statements" within the meaning of that phrase under Canadian securities laws. 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. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. 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. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.

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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