Press Release

 

NEWCASTLE ANNOUNCES PRIVATE PLACEMENT

 

VICTORIA, BC, January 26, 2012 – Newcastle Minerals Ltd. (TSXV:NCM) is pleased to announce that it has negotiated, subject to regulatory acceptance, a non-brokered private placement of 10,000,000 units at a price of $0.05 per unit with one investor.

 

Each unit consists of one common share and one-half of one warrant. Each full warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.10 for a period of one year from the closing of the offering. The proceeds from the private placement will be used for general working capital.

 

Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the TSX Venture Exchange (TSX Venture: NCM). The company is advancing its three key properties: the 11,100-hectare Pickle Lake Property in northwestern Ontario, its 6,898-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.’s Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario. 

 

ON BEHALF OF THE BOARD

 

Signed “Michael Romanik”

Michael Romanik, President

Direct line: (204) 724-0613

 

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.