Newcastle Receives Sale Proceeds

   Newcastle Minerals Ltd. (TSX VENTURE: NCM) is pleased to report that it has received the final $400,000 cash payment from Skyline Gold Corporation in respect of last year's sale of Newcastle's northwestern British Columbia mineral claims.

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.

Contacts: Newcastle Minerals Ltd. Michael Romanik President Direct line: [phone] [e-mail] www.newcastleminerals.com