Newcastle Minerals Ltd.

Newcastle Minerals Ltd.

July 26, 2011 16:37 ET

Newcastle Completes First Tranche of Private Placement

VICTORIA, BRITISH COLUMBIA--(Marketwire - July 26, 2011) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has closed the first tranche of its previously-announced non-brokered private placement as to 4,300,000 flow-through shares at a price of $0.06 per share and 4,600,000 non-flow-through units at a price of $0.06 per unit.

Each non-flow-through unit consists of one common share and one warrant. Each warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.10 until July 24, 2013. The shares and units are subject to a hold period expiring November 26, 2011.

Newcastle expects to complete the balance of the offering by August 9, 2011.

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 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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