NewCastle Completes First Tranche of Private Placement

Newcastle Minerals Ltd.

Press Release

NEWCASTLE COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

VICTORIA, BC, July 26, 2011 – Newcastle Minerals Ltd. (TSXV:NCM) is Suite 416 108-800 Kelly Road pleased to announce that it has closed the first tranche of its previously- Victoria, BC V9B 6J9 announced non-brokered private placement as to 4,300,000 flow-through T 250 474 7999 shares at a price of $0.06 per share and 4,600,000 non-flow-through units at F 250 474 7997 [email protected] a price of $0.06 per unit.

www.newcastleminerals.com TSXV-NCM Each non-flow-through unit consists of one common share and one warrant. Each warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.10 until July 24, 2013. The shares and units are subject to a hold period expiring November 26, 2011.

Newcastle expects to complete the balance of the offering by August 9, 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.