VGN Greencastle Resources Ltd

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or the "Company"),
is pleased to provide the consolidated financial results for the Company for the
period ended June 30, 2013 which have now been filed on SEDAR. 


As of June 30, 2013 total shareholder equity (assets less liabilities) was
$5,823,930 ($0.13 / share) versus $6,085,967 ($0.13 / share) at December 31,
2012. Income declined from $256,656 to $160,325 for the six months ended June
30, 2013 compared with the year earlier period. Total expenses decreased from
$710,466 to $495,690 for the first half of fiscal 2013 a reduction of 30%. Net
loss for the six month period was $390,832 compared to $479,591 for the same
period the previous year. 


Commenting on the second quarter results, Anthony Roodenburg, CEO, stated:
"These are very challenging times for junior resource companies. While many are
struggling to survive, Greencastle remains in a very strong financial position
with a solid balance sheet. All of our exploration projects are 100% owned and
we will continue to monitor costs while evaluating new opportunities created by
current market conditions." 


The Company also wishes to announce the adoption by its board of directors (the
"Board") of amendments to its by-laws (the "Amendments") to include advance
notice provisions (the "Advance Notice Provisions") requiring that advance
notice be provided to the Company in circumstances where nominations of persons
for election to the Board are made by shareholders. 


Among other things, the Advance Notice Provisions fix a deadline by which
shareholders must notify the Company of nominations of persons for election to
the Board and provide that the same information about the proposed nominee as
one would be required to include in a dissident proxy circular under applicable
securities laws must be provided to the Company by the deadline. 


In the case of an annual meeting of shareholders, notice to the Company must be
made not less than 30 and not more than 60 days prior to the date of the annual
meeting; provided however, that in the event that the annual meeting is to be
held on a date that is less than 50 days after the date on which the first
public announcement of the date of the annual meeting was made, notice may be
made not later than the close of business on the 10th day following such public
announcement. 


In the case of a special meeting of shareholders (which is not also an annual
meeting) notice to the Company must be made no later than the close of business
on the 15th day following the day on which the first public announcement of the
date of the special meeting was made. 


The Advance Notice Provisions provide a clear process for shareholders to follow
to nominate directors and set out a reasonable timeframe for nominee submissions
along with a requirement for accompanying information. The purpose of the
Advance Notice Provisions is to treat all shareholders fairly by ensuring that
all shareholders, including those participating in a meeting by proxy rather
than in person, receive adequate notice of the nominations to be considered at a
meeting and can thereby exercise their voting rights in an informed manner. In
addition, the Advance Notice Provisions should assist in facilitating an orderly
and efficient meeting process. 


The Amendments are effective as of May 3, 2013, the date they were first
approved by the Board, and were approved by the Company's shareholders in
accordance with the provisions of the Business Corporations Act (Ontario) at the
annual and special meeting of shareholders held on June 4, 2013. A copy of the
by-law, as amended, has been filed under the Company's profile on SEDAR at
www.sedar.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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