Newcastle Options Additional Pickle Lake Properties

Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has,
subject to regulatory acceptance, negotiated an option to purchase a 100%
interest in five mineral claims covering approximately 1,960 acres in Ontario's
Dona Lake Township.


The property is located in the Pickle Lake Greenstone Belt, part of the prolific
Uchi Geological Subprovince having historically produced over 30 million ounces
of gold. The claims are adjacent to PC Gold's (TSX:PKL) Pickle Crow property and
are on strike to the south-west.


This newly acquired property adjoins Newcastle's previously-optioned claims
announced January 12. Newcastle's President, Michael Romanik, stated "We are
pleased to have added to our land position in the Pickle Lake area.  PC Gold
Inc. announced on January 7 that they plan to add a third drilling rig to their
work program, so we expect to see steady news flow from the area over the next
few months."


To exercise its option and acquire a 100% interest in the property, Newcastle
must pay the optionor, Mr. Perry English, a total of $105,000 and issue a total
of 250,000 shares in stages over four years and grant the optionor a 2% net
smelter returns royalty.  Newcastle may repurchase one-half of the net smelter
returns royalty for $1,000,000.


ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik, President