Greencastle Provides Update on Unsolicited Offer

TORONTO, ONTARIO--(Marketwired - Sep 5, 2013) - Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or the "Company") would like to remind shareholders that they should defer taking any action in respect of the offer from Zara Resources Inc. until shareholders have received further communication from the board of directors of Greencastle. Following a detailed review of the offer by a special committee, Greencastle will mail a directors' circular which will contain important information including a recommendation to shareholders of Greencastle with respect to the offer.

Anthony Roodenburg, CEO, commenting on the offer, said, "The Board of Directors is proceeding, with the assistance of its legal advisors, to review the Zara offer. Since the date of the offer, Greencastle has received many unsolicited communications from shareholders who have overwhelmingly expressed their objection to and concern with the offer. Shareholders are urged to take no action concerning the offer until the Board makes its formal recommendation. Shareholders will be notified by the Board of this recommendation through a news release and directors' circular in accordance with applicable securities laws."

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.