VGN Greencastle Resources Ltd

Greencastle Resources Ltd. (the "Company") (TSX VENTURE:VGN) wishes to announce
that, subject to regulatory approval, it will conduct a normal course issuer bid
(the "Bid"). The Bid will be for 3,981,805 common shares of the Company over a
period of one year (the "Bid Period"), being approximately 8.6% of Company's
issued and outstanding common shares, with up to 923,653 common shares of the
Company purchasable over any 30-day period within the Bid Period, being 2% of
Company's issued and outstanding common shares. The Bid Period will commence on
February 19, 2014, and will continue until the earlier of February 18, 2015, or
the date by which the Company has acquired the maximum 3,981,805 common shares
which may be purchased under the Bid. 


Management believes that the market price of the Company's common shares may not
fully reflect the value of its business and future prospects, and as such it
believes that purchasing its own common shares for cancellation is an
appropriate strategy for increasing long-term shareholder value. The purchases
will be made through the facilities of the TSX Venture Exchange (the "TSXV"),
and the price at which the Company will purchase its common shares will be the
market price of the shares at the time of acquisition. The Company has appointed
Canaccord Genuity Wealth Management as its broker to conduct normal course
issuer bid transactions. 


The Company has 46,182,671 common shares issued and outstanding. Common shares
purchased by the Company will be returned to treasury for cancellation. 


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 contains forward-looking statements. These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greencastle Resources Ltd.
Anthony Roodenburg
CEO
(416) 367-4571 x233
www.greencastleresources.com

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