Newcastle Swayze Belt Property Update

VICTORIA, BRITISH COLUMBIA, Oct 13, 2011 (Marketwire via COMTEX News Network) --

Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to provide an update on its 100% owned properties located in the South Swayze Greenstone belt of Ontario.

Chester Project

This summer, Newcastle completed a drill program of four holes (1,050 meters) focusing on targets on the eastern portion of the Chester property. While no significant gold assays were returned, anomalous gold values were encountered associated with variable degrees of sulphide mineralization, alteration and fracturing in intermediate intrusive and occasionally intermediate-to-mafic metavolcanic rocks. The alteration and fracturing encountered during drilling may be associated with the "Ridout Deformation Zone," which is an important structural element in the area as described in Trelawney Mining and Exploration Inc.'s National Instrument 43-101 technical report on the Cote Lake deposit.

A prospecting, mapping and sampling program has begun on the project to identify potential targets for a follow-up drill program this winter. Newcastle is fully financed to complete this work.

Neville-Potier Project

Newcastle's Neville-Potier Project is a large, contiguous claim block consisting of 15,480 acres in Neville and Potier Townships. The claim block straddles the contact between the prospective Swayze Greenstone Belt and intermediate to felsic intrusive rocks to the north. Recent staking by Trelawney Mining and Exploration adjoining the northern portion of the claim block, combined with their takeover of Augen Gold, places the Neville-Potier Project in a strategic position surrounded on two sides by Trelawney. Public databases of topographic lineaments, magnetic interpretations and Soil Gas Hydrocarbon (SGH) anomalies (Augen Gold 2011) indicate the Neville-Potier Project could host significant gold potential. A comprehensive prospecting, mapping and sampling program focusing on north-northwest structures, SGH anomalies (that trend towards the southern border of the property) and a government documented historical gold showing has commenced on the project.

Mollie River

Newcastle was recently notified by First Lithium Resources that it has dropped its option on one of the three claims originally optioned and reported by First Lithium on November 19, 2010. The dropped claim is now owned 100% by Newcastle and comprises six units totaling 240 acres. First Lithium completed no work on this claim. The claim is underlain by felsic and mafic intrusive rocks that remain both prospective and underexplored. Once Newcastle completes work on its Chester and Neville/Potier projects, preliminary mapping and prospecting will take place on this Mollie River claim. On the claims retained by First Lithium, ground induced polarization (I.P.) and magnetic surveys followed by diamond drilling were completed in winter 2011. The Mollie River claim blocks are surrounded by Trelawney Mining and Exploration and are situated east of their Cote Lake deposit.

Newcastle's President, Michael Romanik, said, "We look forward to receiving the results from the prospecting program to assist in the identification of new gold targets. These targets will be assessed for detailed mapping, ground geophysics and diamond drilling follow-up."

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 exploration company trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing its three key properties: the 11,100-hectare Pickle Lake Property in northwestern Ontario, its 6,898-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.'s Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario.

ON BEHALF OF THE BOARD

Michael Romanik, President