Greencastle Commences Drilling at Rockstone Base Metal Exploration Property in Northwest Ontario

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or the "Company"),
is pleased to announce that it has begun a diamond drilling program at its
Rockstone property. The property, comprising a total of 340 claim units, is
located between Shebandowan and Thunder Bay in Northwest Ontario. The property
is one of three properties in Northwest Ontario whose option was announced in
the Company's press release dated March 27, 2012, and where the exploration
targets are base metal sulphide deposits.  


The Rockstone claims are located over a large number of geophysical anomalies
generated from an earlier airborne electromagnetic (VTEM) survey supplied by the
property vendor and covering an area of some 270 square kilometres. Rock outcrop
on the property is sparse but the geology is interpreted to be typical Archean
greenstone belt rocks comprising mafic to felsic metavolcanics with iron
formation and clastic metasediments. 


The current initial drill program will consist of a minimum of 800 metres and
test up to four geophysical conductor targets for the presence of base metal
massive sulphides and will provide valuable information from which to further
interpret the large number of geophysical anomalies in the database. 


At the Stake property, located at the southwest end of the Sturgeon Lake
greenstone belt, the Company has recently completed a small soil survey to test
an area up-ice from some float boulders of quartz diorite containing
disseminated chalcopyrite and pyrite with anomalous gold values. Some of the
soil samples have returned anomalous copper and gold values, indicating a
possible bedrock source for the mineralized boulders. 


At the Phyllis property, prospecting and sampling are continuing to follow up on
anomalous copper and nickel values identified earlier in association with mafic
and ultramafic rocks in the area. 


This news release includes certain "forward looking statements" within the
meaning of that phrase under Canadian securities laws. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. Forward-looking statements
reflect management's current views with respect to possible future events and
conditions and, by their nature, are based on management's beliefs and
assumptions and subject to known and unknown risks and uncertainties, both
general and specific to the Company. Although the Company believes the
expectations expressed in such forward-looking statements are reasonable, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in our forward-looking statements.
The following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of commodities, general
market conditions, risks inherent in exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. Additional
information regarding the material factors and assumptions that were applied in
making these forward looking statements as well as the various risks and
uncertainties we face are described in greater detail in the "Risk Factors"
section of our annual and interim Management's Discussion and Analysis of our
financial results and other continuous disclosure documents and financial
statements we file with the Canadian securities regulatory authorities which are
available at www.sedar.com. The Company undertakes no obligation to update this
forward-looking information except as required by applicable law. The Company
relies on litigation protection for forward looking statements.

Greencastle Resources (TSXV:VGN)
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