NCM Goldon Resources Ltd.

Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has
negotiated, subject to regulatory acceptance, a non-brokered private placement
of 10,000,000 units at a price of $0.05 per unit with one investor.


Each unit consists of one common share and one-half of one warrant. Each full
warrant, in turn, entitles the holder to purchase an additional common share at
a price of $0.10 for a period of one year from the closing of the offering. The
proceeds from the private placement will be used for general working capital.


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
Trelawney Mining and Exploration Inc.'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

Goldon Resources Ltd. (TSXV:NCM)
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