Greencastle Announces Adoption of Shareholder Rights Plan

Greencastle Resources Ltd. ("Greencastle" or the "Company") (TSX VENTURE:VGN)
would like to announce that its board of directors has approved the adoption of
a Shareholder Rights Plan ("Rights Plan"). The Rights Plan is not intended to
prevent the Zara offer or any other take-over bid. Rather, it is intended to
provide Greencastle's board of directors and shareholders adequate time to
consider and evaluate the Zara offer and any other take-over bid that may be
made for the Company's shares and, if appropriate, seek alternatives to maximize
shareholder value.


Subject to the terms of the Rights Plan, the Rights will become exercisable in
the event any person, together with joint actors, acquires or announces its
intention to acquire, including by way of lock-up agreements, 20 percent or more
of Greencastle's outstanding shares without complying with the "Permitted Bid"
provisions of the Rights Plan or without a waiver under the plan. If a take-over
is completed without complying with the requirements of the Rights Plan or a
waiver under it, the Rights holders (other than the acquiring person and its
joint actors) will be entitled to purchase additional Greencastle common shares
at one-half the prevailing market price at that time. Under the Rights Plan, a
bid that, among other things, is made for all of the outstanding shares to all
shareholders on identical terms and conditions and that is open for at least 60
days may constitute a "Permitted Bid". 


In order to implement the Rights Plan, Greencastle's board of directors has
authorized the issuance of one right (a "Right") per Greencastle common share
outstanding to holders of Greencastle's common shares outstanding as September
6, 2013. 


Although effective as September 6, 2013, the Rights Plan is subject to TSX
Venture Exchange acceptance and to ratification by Greencastle's shareholders at
a meeting of shareholders held within six months of September 6, 2013. If the
Rights Plan is not ratified within six months, the Rights Plan and all of the
Rights outstanding at that time will terminate. 


In light of the Zara offer, the board of directors has determined to defer the
Separation Time (as defined in the Rights Plan) until further notice.


A copy of the Rights Plan will be made available on SEDAR at www.sedar.com.

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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Anthony Roodenburg, CEO
(416) 367-4571 x 233
www.greencastleresources.com

Greencastle Resources (TSXV:VGN)
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