Newcastle Minerals Ltd.
TSX VENTURE : NCM

Newcastle Minerals Ltd.

September 23, 2010 08:28 ET

Newcastle Begins Pickle Lake Exploration Program

VICTORIA, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2010) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it is commencing exploration of its 10,000-hectare Pickle Lake Property in northwestern Ontario. The Company will focus on three main areas:

Central Patricia Mine Extension

The Central Patricia No. 1 Gold Mine operated from 1934 to 1949 and reportedly produced 621,000 ounces of gold from 1.7 million tons of ore for a recovered grade of 0.36 ounces of gold per ton.

The mineralization is hosted in iron formation, which contains stringers and discontinuous lenses of quartz with sulphides in both the quartz and iron formation. Both the quartz and sulphides are gold mineralized. The mineralized zones plunge to the east-southeast and are interpreted to move onto Newcastle's claims at a depth of approximately 1,250 metres below surface.

Newcastle is planning a program to test the possible extensions of iron formation-hosted gold zones that lie below the limits of the Central Patricia No. 1 Gold Mine workings on the Pickle Lake Property.

Southwest Powderhouse Zone

The Southwest Powderhouse Zone located on Newcastle's Pickle Lake Property comprises at least one six- to 15-metre thick iron formation and possibly several thinner units which were folded first into an anticline with a northeast axis and later re-folded into a domal structure by a cross fold with a north-northwest axis. Rock units, particularly the iron formation, underwent brittle deformation and silicification. Gold is associated with sulphide mineralization (pyrrhotite, pyrite, chalcopyrite and arsenopyrite) that accompanied silicification.

The Southwest Powderhouse Zone is approximately 137 metres long to a depth of 110 metres. The average intercept for 38 historical holes drilled by a previous operator to define the zone – which, while non-National Instrument 43-101 compliant, are considered indicative by management – was 7.54 grams of gold per tonne over an intercept length of 1.83 metres. Newcastle is planning further drilling to test this mineralization along strike and down dip to extend the known zones.

Vein 20 Extension

A series of gold-bearing quartz veins were mined historically at both the Central Patricia Mine and the nearby Pickle Crow Gold Mine, some of which are generally known to trend onto Newcastle's Pickle Lake Property.

PC Gold Inc. recently discovered its Vein 20 and drilled several holes – as close as 100 metres from Newcastle's property boundary – as PC Gold traced the mineralized vein to the southwest.

Newcastle's exploration program will test gold mineralization in this area and search for the extension of Vein 20 onto Newcastle's property.

Billiken Management Retained for Exploration

Newcastle is also pleased to announce that it has retained Billiken Management Services Inc. to design and execute the gold exploration program on the Pickle Lake Property.

The technical information herein was prepared under the supervision of Mr. Brian Newton of Billiken Management Services Inc., who acts as Newcastle's Qualified Person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

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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