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Newcastle Proposes Restructuring

FSC / Press Release 
Newcastle Proposes Restructuring 
Company's focus will remain on gold exploration with all projects strategically
located in key mining jurisdictions in Ontario 
Victoria, British Columbia CANADA, January 10, 2013 /FSC/ - Newcastle Minerals
Ltd. (TSXV: NCM) (USOTC: NCMBF)announces that it intends to proceed with a
restructuring that will include a share consolidation, name change, trading
symbol change and financing. 
The proposed share consolidation will exchange one new common share for every
five old shares. The Company's present issued and outstanding capital of
103,566,118 common shares will be reduced to 20,713,224 common shares. 
In conjunction with the proposed share consolidation, the Company intends to
change its name from Newcastle Minerals Ltd. to GoldON Resources Ltd. and change
its trading symbol to GLD. 
"The goal of the restructuring is to position the Company for long term growth
and ensure we have sufficient funding to pursue our corporate initiatives in
2013," stated Newcastle President, Michael Romanik. "Our focus will remain on
gold exploration and, with all our projects strategically located in key mining
jurisdictions in Ontario, we feel our new name and trading symbol will better
reflect our core business." 
Concurrent with the proposed restructuring, the Company intends to undertake a
non-brokered private placement financing of flow-through and non-flow-through
shares. The Company's largest shareholder, IAMGOLD Corporation, has expressed an
interest in participating in the financing. 
The proposed consolidation and name change, which are subject to shareholder
approval and regulatory acceptance, are to facilitate the planned equity
financing. A special general meeting will be held on February 18, 2013 to obtain
shareholder approval. 
About Newcastle Minerals 
Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the
TSX Venture Exchange (TSXV: NCM). The Company is advancing its three key
properties: the 15,500-hectare Pickle Lake Property in northwestern Ontario, its
6,898-hectare property located in the Swayze greenstone belt of Ontario near
IAMGOLD's Cote Gold Project, and its 120-hectare Carscallen Property in the West
Timmins area of Ontario. 
Signed "Michael Romanik"
Michael Romanik, President
Direct line: (204) 724-0613 
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. 
To view this press release as a webpage please click on the following link: 
Source: Newcastle Minerals Ltd. (TSX-V: NCM)
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-0- Jan/10/2013 13:30 GMT
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