TSX-V:NCM

 

Press Release

NEWCASTLE CLOSES PRIVATE PLACEMENT

VICTORIA, BC, June 23, 2008 – Newcastle Minerals Ltd. (TSXV:NCM) is pleased to announce that it has closed its non-brokered private placement of 2,300,000 units – 200,000 units fewer than previously announced – at a price of $0.05 per unit.


Each unit consists of one common share and one warrant.  Each warrant, in turn, entitles the holder to purchase an additional common share until June 19, 2010 at a price of $0.10.  The units are subject to a hold period expiring October 20, 2008.


The proceeds from the private placement will be used for working capital.



ON BEHALF OF THE BOARD


Signed “Kevin C. Whelan”

Kevin C. Whelan, President








The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.