Greencastle Provides Update on Unsolicited Offer

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or the "Company")
would like to remind shareholders that they should defer taking any action in
respect of the offer from Zara Resources Inc. until shareholders have received
further communication from the board of directors of Greencastle. Following a
detailed review of the offer by a special committee, Greencastle will mail a
directors' circular which will contain important information including a
recommendation to shareholders of Greencastle with respect to the offer.


Anthony Roodenburg, CEO, commenting on the offer, said, "The Board of Directors
is proceeding, with the assistance of its legal advisors, to review the Zara
offer. Since the date of the offer, Greencastle has received many unsolicited
communications from shareholders who have overwhelmingly expressed their
objection to and concern with the offer. Shareholders are urged to take no
action concerning the offer until the Board makes its formal recommendation.
Shareholders will be notified by the Board of this recommendation through a news
release and directors' circular in accordance with applicable securities laws."


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greencastle Resources Ltd.
Anthony Roodenburg
CEO
[phone] x 233
www.greencastleresources.com