Newcastle Minerals Ltd.
TSX VENTURE : NCM

Newcastle Minerals Ltd.

March 18, 2011 16:29 ET

Newcastle Reports Drill Results on Its Carscallen Property

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 18, 2011) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has received the results from its nine-hole, 2,000-metre diamond drill program designed to further evaluate its 120 hectare Carscallen Property located near Timmins, Ontario.

The drilling program targeted untested induced polarization (IP) anomalies, the Bristol Fault and an interpreted splay to the Bristol Fault. The drill holes did not exceed 300 metres, testing the property at less than 200 metres below surface.

A single inclined (-45°) diamond drill hole – NC-11-04 – tested an IP anomaly with an associated high magnetic response located in the north of the property. Drilling intersected a graphite- and pyrite-bearing unit, explaining the IP anomaly. A 0.5 metre quartz vein located at 146 metres down the hole returned 279 ppb gold over 1.0 metres.

A series of five holes, totaling approximately 1,150 metres, was drilled to define the general trend of the Bristol Fault for a strike length of 800 metres. The trend of the fault has now been determined, although no significant gold values were encountered.

Two holes – NC-11-06 and NC-11-03 – were drilled in the area of Holes NC-10-01 and NC-10-07. The 2010 holes intersected a 50-metre-wide subvertical zone of weak to moderate shearing with values of up to 500 ppb gold over 0.60 metres. The drill hole under this intercept reported an assay of 240 ppb gold over 2.0 metres within a zone of weakly anomalous gold values.

The diamond drill program succeeded in evaluating specific geological targets and providing valuable stratigraphic geology for the property. Management will review the entire property data set to determine the direction of the next program.

Clark Exploration Consulting completed the diamond drill program, employing an industry-accepted QA/QC program of standard, blanks and duplicates within the sampling stream of the drill core. Accurassay Laboratories, an ISO/IEC Guideline 17025 accredited lab, assayed the core.

The technical information herein was prepared under the supervision of Mr. Garry Clark, P. Geo., who acts as Newcastle's Qualified Person, as defined by National Instrument 43-101.

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 – including the Mollie River Property – located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.'s Chester Project.

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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