Greencastle Enters Saskatchewan Coal Hunt

TORONTO, ONTARIO, Jun 19 (MARKET WIRE) --
Greencastle Resources Ltd. ("Greencastle," or the "Company,") (TSX
VENTURE: VGN) is pleased to report that in early May, the Company applied
to the government of Manitoba for a coal exploration permit on the
Manitoba / Saskatchewan border.

The recent coal discovery in Saskatchewan by Goldsource Mines Inc. (TSX
VENTURE: GXS) has resulted in a rush of permit application activity,
covering a large area of eastern Saskatchewan. In April, Goldsource
announced that, while drill testing geophysical anomalies for kimberlite,
it had intersected coal (at a depth of about 80 metres) in two core holes
located 1.64 kilometres apart and represent 26 metres and 32.5 metres,
respectively, of coal seam, including 22.6 metres of continuous coal in
each hole. The two core drill holes are located approximately 50
kilometres north of Hudson Bay, Saskatchewan. In May, Goldsource
announced that most of the coal from the two intercepts was ranked as
High Volatile Bituminous C and Sub-Bituminous A and was believed to be
from the Mannville/Swan River Group of Cretaceous age. On June 17, 2008,
Goldsource announced that it had been granted 55 coal permits and a
further 179 were expected soon. It now plans a drill program to evaluate
an area of 17 km by 9 km which Goldsource says could conceptually have
the potential to contain 2 to 4 billion tonnes of coal.

The Greencastle permit application covers approximately 1,600 hectares on
the Manitoba side of the Saskatchewan border some 12 km from the
Goldsource permit area. The geological map of the Manitoba Geological
Survey indicates the area to be underlain by the Swan River Formation of
the same Cretaceous age as the Goldsource coal discovery.

Commenting on the recent coal initiatives, Anthony Roodenburg,
Greencastle CEO stated: "Acquiring permits in Manitoba is somewhat more
expensive and the process more cumbersome than in Saskatchewan, however,
coal beds can extend for significant distances. For example, a 4 metre
intercept of coal at a similar stratigraphic horizon to the Goldsource
discovery has been observed in a hole drilled by Adamas Minerals Corp.
over 100 km to the northwest. This information when considered in light
of regional topography and the Goldsource coal bed elevation suggests
that, if the coal bearing stratigraphy extends into western Manitoba, it
may well be nearer to the surface."

James Pirie, a professional engineer registered with the Association of
Professional Engineers of the Province of Ontario, is designated as the
Qualified Person under National Instrument 43-101 and has approved the
technical contents of this release.

In his Stock Talk Late Edition on June 18, 2008, Canaccord's David Pescod
noted: "It was just roughly two weeks ago that the Coffin brothers of the
Hard Rock Analyst did a piece on Goldsource ..." When asked at the recent
Cambridge Mining Conference in Vancouver if he could only buy one stock
today, what would it be? Eric Coffin said he would like to pick two, but
one would definitely be Bitterroot Resources (TSX VENTURE: BTT). Mr.
Coffin notes that Bitterroot has filed coal permit applications on the
Manitoba side of the border, but within 10 km of the Goldsource permits.
He further pointed out that being on the Manitoba border due east of
Goldsource is "as close as you're going get for tag-ons to the main play."

Cautionary statements for Goldsource conceptual resource: The potential
quantity and grade is conceptual in nature and there has been
insufficient exploration to define a mineral resource. It is uncertain if
further exploration will result in discovery of a mineral resource.

This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act
of 1995. 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. 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. The Company relies on
litigation protection for forward looking statements.

No Stock
Exchange has reviewed nor accepted responsibility for the adequacy or
accuracy of this news release.

Contacts:
Greencastle Resources Ltd.
Anthony Roodenburg
CEO
(416) 367-4571

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