NewCastle Options Its Carscallen Property to Rodocanachi Capital Inc.

Newcastle Minerals Ltd.

Press Release

NEWCASTLE OPTIONS ITS CARSCALLEN PROPERTY TO RODOCANACHI CAPITAL INC. Suite 416 108-800 Kelly Road Victoria, BC V9B 6J9 VICTORIA, BC, October 28, 2011 – Newcastle Minerals Ltd. T 250 474 7999 F 250 474 7997 (TSXV:NCM) is pleased to announce that it has, subject to regulatory acceptance, granted an option to Rodocanachi Capital Inc. on Newcastle’s [email protected] www.newcastleminerals.com Carscallen Property located in the West Timmins area of Ontario.

TSXV-NCM

To exercise its option and acquire a 60% interest in Newcastle’s Carscallen Property, Rodocanachi must pay Newcastle $85,000 and issue 750,000 Rodocanachi shares over the next two years, and complete $900,000 of exploration on the property over the next three years.

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

Signed “Michael Romanik”

Michael Romanik, President Direct line: (204) 724-0613

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.