VGN Greencastle Resources Ltd

Greencastle Resources Ltd. ("Greencastle" or the "Company") (TSX VENTURE:VGN) is
pleased to report that the Company and its 50% joint venture partner, Softrock
Minerals Ltd., have jointly farmed out their 100% working interest in their 640
acre petroleum and natural gas (P&NG) lease in the Spirit River area of
Northwest Alberta to an operator which is active in the area.


The terms of the agreement include an upfront payment to Greencastle of $200,000
along with a 2.5% gross overriding royalty on future production with no
deductions, plus a commitment to drill and complete (or abandon) one horizontal
well to test the Charlie Lake formation in 2014. Spacing units allowing for four
Charlie Lake horizontal wells and four shallower vertical Doe Creek wells
(targeting an additional horizon that produces in places in the area), have been
obtained in adjacent leases and could be utilized in the future if the farmee
wishes.


Recently, interest in the Charlie Lake formation has been steadily increasing in
the Spirit River area. At the last Alberta government sale, a 640-acre parcel of
similar P&NG rights directly offsetting the Company's lease to the north sold
for over $900,000, while, at the same sale, another parcel of one-half section
directly adjoining to the southeast went for in excess of $200,000.


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.
Anthony Roodenburg
CEO
(416) 367-4571 x 233
www.greencastleresources.com

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