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 up to 7,100,000 flow-through shares at a price of $0.06 per share and
4,600,000 non-flow-through units at a price of $0.06 per unit to qualified
investors.


Each non-flow-through unit consists of one common share and 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 two years from the closing of the
offering.


The proceeds from the private placement will be used for exploration of the
Company's Chester Project and other properties in northwestern Ontario, and
general working capital.


Newcastle will pay a cash finder's fee of up to 8% of the subscription proceeds
in respect of the offering.


Newcastle Minerals Ltd. is a Canadian gold and base metal exploration company
trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing
its three key properties: its 120-hectare Carscallen Property in the West
Timmins area of Ontario, its 11,100-hectare Pickle Lake Property in northwestern
Ontario and its 6,600-hectare property located in the Swayze greenstone belt of
Ontario near Trelawney Mining and Exploration Inc.'s Chester Project. 


ON BEHALF OF THE BOARD

Michael Romanik, President

Goldon Resources Ltd. (TSXV:NCM)
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