NewCastle Options Chester Township Gold Prospect

Newcastle Minerals Ltd.

Press Release

NEWCASTLE OPTIONS CHESTER TOWNSHIP GOLD PROSPECT

VICTORIA, BC, March 4, 2010 – Newcastle Minerals Ltd. (TSXV:NCM) is pleased to announce that it has, subject to regulatory acceptance, negotiated an option to purchase a 100% interest in one mineral claim Suite 416 108-800 Kelly Road Victoria, BC V9B 6J9 covering approximately 120 acres in Chester Township, Ontario.

T 250 474 7999 F 250 474 7997 The mineral claim is located 1.8 kilometres from Trelawney Mining and [email protected] Exploration Inc.’s (TSXV:TRR) Chester Project and is surrounded by www.newcastleminerals.com TSXV-NCM Augen Gold Corp’s (TSXV:GLD) South Swayze property. Trelawney recently reported intersecting 107.11 metres of 8.20 grams per tonne of gold, including 313.55 grams per tonne gold over 2.56 metres, on its Chester Project.

Newcastle’s president, Michael Romanik, said: “we are extremely pleased to have secured a land position so close to Trelawney’s exciting new discovery. These new property acquisitions are a terrific addition into our current portfolio of projects which include our Carscallen gold property and our 18,000 acres positioned on both ends of PC Gold’s Pickle Crow Gold mine property trend. It will be a very active and exciting 2010 for Newcastle and its shareholders.”

To exercise its option and acquire a 100% interest in the mineral claim, Newcastle must pay the optionor $12,000, issue 400,000 shares of the Company and grant the optionor a 3% net smelter returns royalty. Newcastle may repurchase one-third of the net smelter returns royalty for $1,000,000. The Company will pay a finder’s fee of $1,200 and 40,000 shares to 2125930 Ontario Limited in respect of the transaction.

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.