Newcastle Reports Drill Results on Mollie River Property

Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has
received results from First Lithium Resources Inc.'s drill program on
Newcastle's Mollie River Property located approximately four kilometres east of
Trelawney Mining and Exploration Inc.'s Chester Gold Complex in northwestern
Ontario. First Lithium has an option to earn up to a 75% interest in Newcastle's
property.


First Lithium tested geophysical anomalies with 10 drill holes totalling
approximately 2,000 metres. They reported intersecting a nine metre zone between
185 metres and the bottom of Hole MR-10-10 at 194 metres with gold values
ranging from less than 5 ppb to 1,830 ppb (1.8 grams per tonne), including
single sample analyses of 346 ppb and 96 ppb. This zone is encapsulated by a
broader zone of elevated copper with concentrations ranging from 92 ppm to 1510
ppm (0.15%). Mineralization is present as one-millimetre blebs, wisps and
fracture fillings of pyrrhotite, chalcopyrite and pyrite hosted by chloritic and
silicified gabbro.


First Lithium believes this gold-mineralized zone was not truncated by Hole
MR-10-10, and as such is open at depth. It is their opinion that the association
of gold mineralization in altered mafic to intermediate intrusions is strongly
suggestive of the geologic setting of the Trelawney gold deposits. First Lithium
intends to perform additional drilling in the immediate proximity of this hole
following review of geophysical survey results to further determine the extent
of gold mineralization. Arrangements have reportedly been made with their drill
contractor to return to the site within the next few weeks.


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