NewCastle Completes Balance of Private Placement

Newcastle Minerals Ltd.

Press Release

NEWCASTLE COMPLETES BALANCE

Suite 416 108-800 Kelly Road

OF PRIVATE PLACEMENT

Victoria, BC V9B 6J9 T 250 474 7999 VICTORIA, BC, August 2, 2011 – Newcastle Minerals Ltd. (TSXV:NCM) F 250 474 7997 [email protected] is pleased to announce that it has closed the balance of its previouslywww.newcastleminerals.com announced non-brokered private placement as to 2,800,000 flow-through TSXV-NCM shares at a price of $0.06 per share. The shares are subject to a hold period expiring December 3, 2011.

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 11,100hectare Pickle Lake Property in northwestern Ontario and its 6,600-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.'s Chester Project.

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.