Newcastle Reports Preliminary Drill Results on Its Chester Project

   Newcastle Minerals Ltd. (TSX VENTURE: NCM) is pleased to announce that it has completed a four-hole, 1,050-metre diamond drilling program on its 100% owned Chester Project located in northwestern Ontario, Canada.

All holes encountered intermediate intrusive rocks - primarily hornblende diorite - and occasionally intermediate to mafic volcanics. The hornblende diorite was generally medium green-grey, medium- to coarse-grained (2 mm to 5 mm), massive, and approximately 50% to 60% hornblende and 40% to 50% feldspar. The intermediate volcanics were very fine grained and commonly amygduloidal for several metres at both the upper and lower contacts with the intermediate intrusive, and fine- to medium-grained and massive in the core of the units.

Sulphide mineralization was weak throughout the rocks encountered and was usually associated with variable degrees of alteration and fracturing. The main sulphides encountered were pyrite, pyhrrotite, chalcopyrite and possibly sphalerite, generally in trace amounts and occasionally up to 1% or 2% over several metres.

Alteration consisted primarily of variable quartz-carbonate +/- chlorite +/- sercite alteration and veining associated with zones of weak to moderate irregular fracturing, with local brecciation. Local hematite and/or potassic alteration was also present with the quartz-carbonate veining.

A total of 221 cut drill core samples were submitted to Accurassay of Thunder Bay, Ontario for assay and those results are pending. The drill program was carried out under the supervision of Mr. Des Cullen of Clark Exploration Consulting of Thunder Bay, Ontario and drilling was undertaken by Chenier Diamond Drilling of Sudbury, Ontario.

The technical information herein was prepared under the supervision of Mr. Garry Clark, P. Geo., of Clark Exploration Consulting Inc., who acts as Newcastle's Qualified Person, as defined by National Instrument 43-101.

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