Newcastle Minerals is pleased to announce that it has closed its non-brokered private placement of 6,000,000 units at a price of $0.03 per unit. 

Each unit consists of one common share and one warrant.  Each warrant, in turn, entitles the holder to purchase an additional common share until July 20, 2011 at a price of $0.07 per share until July 20, 2010 and $0.10 per share thereafter.  The units are subject to a hold period expiring November 21, 2009. 

The proceeds from the private placement will be used for exploration of Newcastle’s Yukon mineral claims and working capital.  A finder’s fee of $6,000 cash will be paid in respect of the offering.