VICTORIA, BRITISH COLUMBIA -- (Marketwire) -- 07/26/12 -- Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that NY85 Capital Inc. has commenced a drill program on Newcastle's Carscallen property. NY85 Capital Inc. has the option to earn a 60-per-cent undivided interest in the property by making cash payments to Newcastle over a period of two years totaling $85,000 and issuing to Newcastle over a period of two years a total of 750,000 NY85 common shares. In addition, NY85 Capital Inc. must incur exploration costs totaling $900,000 on the property over a period of 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 Iamgold's Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario.

ON BEHALF OF THE BOARD

Michael Romanik, President

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.

Contacts:
Newcastle Minerals Ltd.
Michael Romanik
President
Direct line: (204) 724-0613
[email protected]
www.newcastleminerals.com