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NEWCASTLE OPTIONS PICKLE LAKE GOLD PROSPECT

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In addition to the Timmins Property mentioned above, the Company negotiated an option to purchase up to a 100% interest in Mhakari Gold Corp.’s Pickle Lake Property, which comprises 19 mineral claims covering approximately 9,600 acres in Ontario’s Connell, Dona Lake and Ponsford Townships. ( press release January 12, 2010 ) and negotiated for additional option to purchase a 100% interest in five mineral claims covering approximately 1,960 acres in Ontario’s Dona Lake Township, both have now received regulatory approval. (see press release January 15, 2010. In addition, the company staked four additional mineral claims adjoining its Pickle Lake gold prospect in northwestern Ontario, adding 144 hectares to its 7,400-hectare package of claims. ( see  March 24, 2010 press release).  A map is located here :  NCM Pickle Lake claims.pdf

On June 17, 2010, Newcastle announced  that  subject to regulatory acceptance, negotiated an option to purchase up to 100% of 21 mineral claims covering 2,960 hectares in Connell Township and Dona Lake Township in northwestern Ontario.

These claims adjoin PC Gold Inc.’s Pickle Crow property within 200 metres of their No. 20 Vein, at which PC Gold intersected 20.96 grams of gold per tonne over 0.5 metres at a depth of 126 metres in February 2010. Newcastle’s Pickle Lake gold prospect now comprises 10,400 hectares or about 100 square kilometres.

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