Greencastle Alberta Oil Lease Extension Approved

Greencastle Resources Ltd. ("Greencastle" or the "Company") (TSX VENTURE:VGN) is
pleased to report that Alberta's Department of Energy has extended the term on
the 640-acre petroleum and natural gas (P&NG) lease at Spirit River, NW Alberta,
held 50-50 by Greencastle Resources Ltd. and its partner, Softrock Minerals
Ltd., to June 11, 2015. 


Over the past few weeks, Tourmaline Oil Corp., through its operating subsidiary
Exshaw Oil Corp., has applied to the Alberta government for altered spacing
units that will permit horizontal well completions in the Charlie Lake formation
in the sections offsetting to the south and southwest of Greencastle's lease. 


Interest has been steadily increasing in the area. At the last Alberta
government sale, a 640-acre parcel of similar P&NG rights directly offsetting
Greencastle's lease to the north sold for over $900,000, while another parcel of
one-half section at the same sale directly adjoining to the southeast went for
in excess of $200,000.


Commenting on these developments, Anthony Roodenburg, Greencastle CEO stated:
"Activity and land prices have picked up smartly in the area and we are in
discussions with several parties regarding development of this section. Our land
is now essentially surrounded by new production or recently purchased land
holdings. Our discussions are focused on bringing in a partner to drill,
allowing Greencastle to hold an overriding royalty similar to the revenue model
we have at Primate in Saskatchewan."  


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. 


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.


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

Greencastle Resources (TSXV:VGN)
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