TSX-V:NCM

 

Press Release

PROPOSED NON-BROKERED PRIVATE PLACEMENT

VICTORIA, BC, May 15, 2008 – Newcastle Minerals Ltd. (TSXV:NCM) announces that it has negotiated, subject to regulatory approval, a non-brokered private placement consisting of up to 2,500,000 units at a price of $0.05 per unit, to qualified investors.


Each unit will consist of one common share and one warrant.  Each warrant will, in turn, entitle the holder to purchase an additional common share at a price of $0.10 per share for a period of two years from the closing of the offering.  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.