VGN Greencastle Resources Ltd

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle"), is pleased to
report that, in return for granting an option extension to Rainbow Resources
Inc. ("Rainbow"), Rainbow has agreed to include recently acquired patented
claims totalling 35 hectares located within Greencastle's larger Jewel Ridge
claim block in Nevada. The claims are along trend in the immediate vicinity of
the Hamburg pit, where Rainbow geologists have outlined a minimum 500 metre-long
altered zone characterized by old workings, strong oxide staining and heavily
silicified rock. The patented claims cover the former-producing Croesus mine
(gold, silver, lead and zinc) and were acquired late in 2012 by Rainbow for cash
consideration of $75,000 and 500,000 Rainbow shares. 


In return for assigning these claims and making a cash payment of $30,000 to
Greencastle, Greencastle has agreed to grant an extension to Rainbow allowing
more time to complete the next phase of work required to keep the Jewel Ridge
option in good standing. See news March 29, 2012. 


Commenting on the arrangement, Anthony Roodenburg, Greencastle CEO, stated:
"Rainbow has completed some excellent work at Jewel Ridge despite challenging
market conditions. We believe the inclusion of the Croesus claims adds
significant value to the Jewel Ridge claim block. We now control virtually all
of the prospective ground between Timberline's South Eureka deposit to the south
and Barrick's producing Ruby Hill mine to the north." 


For additional information, please visit www.greencastleresources.com.

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. 


This news release includes certain "forward looking statements" within the
meaning of that phrase under Canadian securities laws. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. Forward-looking statements
reflect management's current views with respect to possible future events and
conditions and, by their nature, are based on management's beliefs and
assumptions and subject to known and unknown risks and uncertainties, both
general and specific to the Company. Although the Company believes the
expectations expressed in such forward-looking statements are reasonable, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in our forward-looking statements.
The following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of commodities, general
market conditions, risks inherent in exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. Additional
information regarding the material factors and assumptions that were applied in
making these forward looking statements as well as the various risks and
uncertainties we face are described in greater detail in the "Risk Factors"
section of our annual and interim Management's Discussion and Analysis of our
financial results and other continuous disclosure documents and financial
statements we file with the Canadian securities regulatory authorities which are
available at www.sedar.com. The Company undertakes no obligation to update this
forward-looking information except as required by applicable law. The Company
relies on litigation protection for forward looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greencastle Resources Ltd.
Investor Relations:
416-367-4571 ext. 233
www.greencastleresources.com

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