Newcastle Minerals Ltd
			Symbol			NCM
			Shares Issued			40,447,690
			Close 2009-10-16			C$ 0.085
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Newcastle Minerals completes rest of unit financing

2009-10-16 18:38 ET - News Release

Mr. Michael Romanik reports

NEWCASTLE CLOSES BALANCE OF PRIVATE PLACEMENT

Newcastle Minerals Ltd. has closed the balance of its previously announced non-brokered private placement as to 2,378,332 non-flow-through units at a price of nine cents per unit and one million flow-through units at a price of 10 cents per unit. A preliminary tranche of 900,000 non-flow-through units was closed on Oct. 1, 2009.

Each non-flow-through unit consists of one non-flow-through common share and one warrant. Each warrant, in turn, entitles the holder to purchase an additional non-flow-through common share at a price of 12 cents per share until Oct. 16, 2011.

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