Press
Release
NEWCASTLE
CLOSES PRIVATE PLACEMENT WITH MINERALFIELDS GROUP
VICTORIA, BC, August 27, 2007
� Newcastle
Minerals Ltd. (TSXV:NCM) is pleased to announce that it has closed its
previously-announced non-brokered private placement of 3,571,427 flow-through
units at a price of $0.14 per unit with the MineralFields Group.
Each flow-through unit
consists of one flow-through common share and one warrant. Each warrant
entitles the holder to purchase one non-flow-through common share until August
24, 2009 at a price of $0.30 during the first year and $0.40 during the second
year. The units are subject to a hold period expiring December 25, 2007.
The proceeds from the private
placement will be used for exploration. Due diligence fees of $20,000
cash and a finder�s fee of $10,000 cash was paid to First Canadian
Securities�. In addition, subject to regulatory approval, First Canadian
Securities� will be issued 142,857 non-flow-through units in place of the
142,857 options exercisable to acquire such units as originally contemplated
for this transaction and announced by the Company on August 16, 2007.
Each non-flow-through unit will consist of one non-flow-through common share
and one warrant to purchase an additional share at a price of $0.30 during the
first year and $0.40 during the second year.
About MineralFields, Pathway and
First Canadian Securities�
MineralFields Group (a
division of Pathway Asset Management) is a Toronto-based mining fund with
significant assets under administration that offers its tax-advantaged super
flow-through limited partnerships to investors throughout Canada during most of the calendar
year, as well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds.
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities�, a division of Limited
Market Dealer Inc., is active in leading resource financings (both flow-through
and hard dollar)on competitive, effective and service-friendly terms, with
investors both within, and outside of MineralFields Group.
ON BEHALF OF THE BOARD
Signed �Kevin C. Whelan�
Kevin C. Whelan, President
The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of this
release.
For Further
information contact:
Kevin
Whelan, President � (250) 474-7999
Brett
Whitelaw, Director � (778) 836-5891
www.newcastleminerals.com
Important
Information
Newcastle Minerals Ltd. Has
prepared the foregoing for information purposes only. The information
contained herein was prepared by management on a best efforts basis and is
believed to be accurate. It may contain forward-looking statements about
the Company�s plans for the exploration and development of its
properties. Newcastle Minerals Ltd. recognizes that the
exploration and development of gold deposits are speculative activities subject
to risks and uncertainties, and actual events, results and expenditures may
differ materially from current expectations. Newcastle Minerals Ltd. Will
not be responsible for any loss or damage arising from the use of this
information.
