Greencastle Resources Ltd.

Greencastle Resources Ltd.

March 17, 2010 13:22 ET

Greencastle Provides Update on Wells in Southwestern Saskatchewan

TORONTO, ONTARIO--(Marketwire - March 17, 2010) - Greencastle Resources Ltd. ("Greencastle," or the "Company") (TSX VENTURE:VGN) reports that the operator, Centaur Resources Ltd., has now completed testing of the Shaunavon and Success reservoirs in the two wells recently drilled in the Cabri area of Southwestern Saskatchewan.

In the first well, the operator tested two zones in the Shaunavon and one in the Success reservoir. In the second well, one zone in the Shaunavon was tested. All the zones were deemed unproductive by the operator. The two wells have been suspended, pending further studies of the hydrocarbon potential in the area.

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.

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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